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Convenience Food - Zimbabwe

Zimbabwe
  • Revenue in the Convenience Food market amounts to US$277.90m in 2024. The market is expected to grow annually by 8.81% (CAGR 2024-2029).
  • In global comparison, most revenue is generated China (US$154bn in 2024).
  • In relation to total population figures, per person revenues of US$16.33 are generated in 2024.
  • In the Convenience Food market, volume is expected to amount to 88.59m kg by 2029. The Convenience Food market is expected to show a volume growth of 1.8% in 2025.0.
  • The average volume per person in the Convenience Food market is expected to amount to 4.8kg in 2024.

Definition:

The Convenience Food market covers any form of pre-packaged or prepared food that is intended to be simple to prepare or consume quickly, requiring little to no cooking or other preparation. Examples include ready-to-eat meals, frozen dinners, and soups. The focus of these meals is less on quality and nutrition and more on convenience and accessibility.

Structure:

The market consists of two different submarkets:

  • The Ready-to-Eat Meals market covers products that require minimal preparation by the consumer, i.e., meals that only require heating up.
  • The Soups market covers finished products such as powders for making soup (instant soups), and broth or liquid soups that are purchased in prepared form (tinned soups).

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), 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.

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

In-Scope

  • Ready-to-eat meals
  • Soups

Out-Of-Scope

  • Fresh cut salad
  • Frozen vegetables
  • Cut fruit
  • Out-of-home consumption
Convenience Food: market data & analysis - Cover

Market Insights report

Convenience Food: market data & analysis

Study Details

    Revenue

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Volume

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Price

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Sales Channels

    Most recent update: Nov 2024

    Source: Statista Market Insights

    Global Comparison

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Analyst Opinion

    The Convenience Food Market in Zimbabwe has been steadily growing due to the increasing demand for ready-to-eat meals and soups. Factors such as busy lifestyles, rising health consciousness, and the convenience offered by these products have contributed to this growth. However, the market's growth rate is minimal, possibly due to the high prices of these products and the limited availability in certain regions. This could be impacting the overall market's growth potential.

    Customer preferences:
    Consumers in Zimbabwe are increasingly turning to convenience food options as they seek more time-efficient and hassle-free meal solutions. This trend is driven by the growing number of working professionals and urban dwellers, who have less time to prepare meals from scratch. Additionally, there is a rising demand for healthier convenience food options, as consumers become more health-conscious and seek convenient ways to maintain a balanced diet. This has led to the emergence of innovative convenience food products that cater to specific dietary preferences and restrictions, such as gluten-free, vegan, and organic options.

    Trends in the market:
    In Zimbabwe, the Convenience Food Market within The Food market has seen a surge in demand for healthy and organic options. Consumers are increasingly conscious about their health and are opting for convenience foods that offer nutritional benefits. This trend is expected to continue, with a focus on natural and sustainable ingredients. As a result, industry stakeholders are investing in research and development to create healthier options and cater to this growing demand. This shift towards healthier convenience foods also has potential implications for the food industry as a whole, as it may lead to a decline in processed and unhealthy options.

    Local special circumstances:
    In Zimbabwe, the Convenience Food Market has seen significant growth due to the country's economic struggles and limited access to fresh and affordable food options. The convenience and affordability of processed and packaged foods have made them a popular choice for busy urban populations. Additionally, the country's cultural preference for convenience and ready-to-eat meals has further boosted the demand for convenience food products. However, regulatory challenges and the high cost of imported ingredients pose a threat to the market's growth.

    Underlying macroeconomic factors:
    The Convenience Food Market within The Food market in Zimbabwe is heavily impacted by macroeconomic factors. The country's unstable national economic health, high inflation rates, and limited government spending on food subsidies contribute to fluctuations in market performance. Additionally, global economic trends, such as the rising cost of raw materials and changing consumer preferences, also play a significant role in shaping the market. Fiscal policies, such as taxes and import/export regulations, can also affect the availability and affordability of convenience foods in Zimbabwe. Considering these factors, it is crucial for businesses operating in this market to closely monitor and adapt to the macroeconomic landscape to maintain a competitive edge.

    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.

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    Convenience Food: market data & analysis - BackgroundConvenience Food: market data & analysis - Cover

    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

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