Food - Burkina Faso

Burkina Faso

Revenue in the Food market amounts to US$4,525.00m in 2024. The market is expected to grow annually by 6.08% (CAGR 2024-2029).
The market's largest segment is the segment Meat with a market volume of US$803.80m in 2024.
In global comparison, most revenue is generated in China (US$1,601bn in 2024).
In relation to total population figures, per person revenues of US$189.80 are generated in 2024.
In the Food market, 2.1% of total revenue will be generated through online sales by 2024.
In the Food market, volume is expected to amount to 1,593.00m kg by 2029. The Food market is expected to show a volume growth of 4.0% in 2025.
The average volume per person in the Food market is expected to amount to 56.70kg in 2024.

Key regions: United States, Canada, China, India, South Korea

Definition:

The food market covers all edible products that are bought and consumed for nutrient-based purposes. The market includes both fresh and processed foods.

Structure:

The market consists of 13 different markets:

The Dairy products & Eggs market covers animal products, such as milk, eggs and products made from mammal’s milk and non-animal products, such as milk substitutes. This market is divided into six subsegments that include milk, milk substitutes, yogurt, cheese, eggs and other dairy products and eggs.
The Meat market covers animal products, such as pork, poultry, and free-from meat products, such as meat substitutes. This market is divided into three submarkets: fresh meat, processed meat, and meat substitutes.
The Fish & Seafood market covers products made from fish and seafood. This market is divided into three submarkets: fresh fish, fresh seafood, and processed fish & seafood.
Fruits & Nuts cover edible fruits and nuts. This market is divided into three submarkets: fresh fruits, processed & frozen fruits, and nuts.
The Vegetables market covers edible plants. This market is divided into two submarkets: fresh vegetables, processed & frozen vegetables.
The Bread & Cereal products market covers baked goods made from dough. Dough is made using flour, water, a leavening agent, and other optional ingredients. This market also covers products made from cereals that are usually used as part of a main meal. This market is divided into five submarkets: bread, pasta, rice, breakfast cereals and other cereal products.
The Oils and Fats market covers both edible oils and fats made from animals and plants. This market is divided into four submarkets: butter, margarine, edible oils, and other oils & fats.
The Sauces and Spices market covers additional ingredients used during the food preparation process and is divided into three submarkets: tomato ketchup, other sauces, and spices & culinary herbs.
The Convenience food market covers prepared food and meals that require little effort to prepare. This market is divided into two subsegments, soups and ready-to-eat meals.
The Spreads and Sweeteners market covers spreads and ingredients added to food or beverages to give it a sweet flavor. This market is divided into two subsegments, spreads and sweeteners.
The Confectionery & Snacks market covers sweet, savory, and salty food. This market is divided into two subsegments, confectionery and snacks.
The Baby food market covers food that is only meant to be consumed by babies and small children.
The Pet food market covers food that is intended for pet use only.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), and sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included. The out-of-home revenue data is only shown as a separate box at the market level.

For more information on the displayed data, click the info button on the right side of each box.

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Analyst Opinion

The Food market in Burkina Faso has seen minimal growth in recent years, influenced by factors such as limited access to technology, low consumer health awareness, and challenges in transportation and distribution. Despite this, there is potential for growth in sub-markets such as dairy products, fruits and nuts, and convenience food. The government's efforts to improve infrastructure and promote local production may also contribute to the market's growth.

Customer preferences: The Food market in Burkina Faso has seen a rise in demand for locally sourced, organic and healthier food options. This trend is driven by the cultural value placed on fresh and natural food, as well as growing awareness about the health benefits of a balanced diet. As more consumers prioritize their health and well-being, there is also an increasing demand for convenient and affordable meal delivery services and online grocery shopping. This shift towards healthier and more convenient options is also influenced by the changing lifestyles of urban consumers, who are looking for time-saving solutions.

Trends in the market: In Burkina Faso, The Food market industry is seeing an increase in the use of mobile technology to improve access to food products and market information. This trend is expected to continue, with more companies investing in digital platforms to connect with consumers and streamline supply chain processes. As a result, stakeholders in the industry will need to adapt to this digital transformation in order to remain competitive and meet the changing demands of consumers. This shift towards digitalization also presents opportunities for small-scale farmers and producers to access larger markets and increase their profitability.

Local special circumstances: In Burkina Faso, The Food market is heavily influenced by the country's geographical and cultural factors. Due to its landlocked location, the market faces challenges in terms of import and export, resulting in limited availability and higher prices of certain food products. Additionally, the country's traditional food habits and cultural practices also play a significant role in shaping the demand and supply of food in the market. Moreover, the government's regulatory policies, such as subsidies on certain food items, have a considerable impact on market dynamics. These unique local factors differentiate The Food market in Burkina Faso from other markets and must be considered when analyzing and strategizing for this market.

Underlying macroeconomic factors: The Food market in Burkina Faso is heavily influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other financial indicators. The country's economic growth, inflation rates, and exchange rates all have a significant impact on the performance of The Food market. In addition, government policies and regulations, such as trade agreements and taxation policies, also play a crucial role in shaping the market. Furthermore, factors like population growth, urbanization, and consumer spending patterns also influence the demand for food products and services in the country. Overall, The Food market in Burkina Faso is closely tied to the country's economic landscape and is heavily impacted by both internal and external factors.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.