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:
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.
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
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Nov 2024
Source: Statista Market Insights
Most recent update: Jul 2024
Source: Statista Market Insights
Most recent update: Jun 2024
Sources: Statista Market Insights, Statista Consumer Insights Global
Most recent update: Sep 2024
Source: Statista Market Insights
The Food market in Ethiopia has been experiencing steady growth, driven by factors such as increasing demand for local produce, rising health consciousness among consumers, and the convenience of online food delivery services. These sub-markets have contributed to the overall average growth rate of the market, with factors such as changing dietary habits and government initiatives also impacting this growth.
Customer preferences: Consumers in Ethiopia are becoming more health-conscious and are seeking out healthier food options. This has led to a growing demand for organic and locally-sourced foods, as well as plant-based alternatives to meat. Additionally, with the rise of social media and influencer culture, there is a growing trend towards "Instagrammable" food, where presentation and aesthetics are just as important as taste. This shift towards healthier and visually appealing food options is also influenced by the increasing urbanization and modernization of Ethiopian society.
Trends in the market: In Ethiopia, The Food market industry is experiencing a surge in online grocery shopping and delivery services as a result of the COVID-19 pandemic. This trend is expected to continue as consumers become more comfortable with the convenience and safety of online shopping. Additionally, there is a growing demand for locally grown and organic foods, as consumers become more health-conscious. This trend presents opportunities for industry stakeholders to diversify their product offerings and target this niche market. However, it may also pose challenges for small-scale farmers who may struggle to meet the certification and supply demands of this market.
Local special circumstances: In Ethiopia, The Food market is heavily influenced by the country's diverse geographical and cultural landscapes. With a large rural population, traditional food markets remain a dominant force, but with urbanization and modernization, there has been a rise in supermarkets and online food delivery services. Additionally, the government's regulations on food imports and exports have a significant impact on the market, as the country strives to become more self-sufficient in food production. These unique factors create a dynamic and competitive market for food products in Ethiopia.
Underlying macroeconomic factors: The Food market market in Ethiopia is heavily influenced by macroeconomic factors such as economic growth, government policies, and global market trends. With the country's rapidly growing population and rising income levels, there is a growing demand for food products, leading to increased investments in the food industry. Additionally, the government's efforts to improve agricultural productivity and increase exports have also contributed to the growth of The Food market. However, challenges such as inflation, exchange rate fluctuations, and political instability can impact market performance and hinder growth. The market is also affected by global trends such as changing consumer preferences and trade agreements, which can create opportunities or barriers for food producers and exporters in Ethiopia.
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.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights