Food - Madagascar | Statista Market Forecast

Food - Madagascar

Madagascar

Highlights

Revenue in the Food market amounts to US$7.00bn in 2024. The market is expected to grow annually by 8.32% (CAGR 2024-2029).
The market's largest segment is the segment Meat with a market volume of US$1.36bn in 2024.
In global comparison, most revenue is generated China (US$2tn in 2024).
In relation to total population figures, per person revenues of US$225.50 are generated in 2024.
In the Food market, 1.2% of total revenue will be generated through online sales by 2024.
In the Food market, volume is expected to amount to 2.86bn kg by 2029. The Food market is expected to show a volume growth of 2.8% in 2025.0.
The average volume per person in the Food market is expected to amount to 82.19kg in 2024.

Key regions:

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.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Food market in Madagascar has been experiencing slow growth due to various factors such as limited access to technology, low consumer awareness of health benefits, and inadequate infrastructure for online services. Additionally, traditional diets and reliance on subsistence farming limit the demand for convenience and processed foods. However, there is potential for growth in sub-markets such as fruits and nuts, as well as increasing demand for healthier options in urban areas.

Customer preferences: With the growing influence of Western culture and the rise of middle-class consumers in Madagascar, there has been a significant shift in food preferences towards processed and convenience foods. This trend is fueled by the increasing demand for quick and easy meal options, as well as the perception that these foods are more modern and sophisticated. As a result, there has been a surge in the availability of imported packaged foods and fast food chains in the country. This shift in consumer preferences is also driven by changing lifestyle factors, such as longer working hours and a desire for convenience, highlighting the need for food companies to adapt their product offerings to cater to these evolving tastes.

Trends in the market: In Madagascar, The Food market is experiencing a trend towards organic and locally sourced products. This is driven by increasing consumer awareness and demand for sustainable and healthier food options. As a result, more small-scale farmers and producers are entering the market, providing a wider range of options for consumers. This trend is expected to continue as consumers become more conscious of their food choices. Industry stakeholders should take note of this trend and adapt their strategies to meet the changing demands of the market. This can include investing in sustainable sourcing methods and marketing campaigns that highlight the benefits of organic and locally sourced products. Additionally, collaborations with local farmers and producers can help to strengthen the supply chain and support the growth of this trend. Overall, this trend towards organic and locally sourced products has the potential to drive further development of The Food market in Madagascar.

Local special circumstances: In Madagascar, The Food market is heavily influenced by the country's unique geography and cultural traditions. The island's isolation has resulted in a diverse cuisine, with influences from African, Indian, and French cultures. This has led to a wide variety of local produce and spices being used in traditional dishes, creating a distinct flavor profile. Additionally, the country's strict regulations on imported goods have encouraged the development of local food production, making it a vital part of the economy. These factors shape the market dynamics and make Madagascar's Food Market stand out from others in the region.

Underlying macroeconomic factors: The Food market market in Madagascar is heavily influenced by macroeconomic factors such as government policies, economic stability, and global trade dynamics. The country's economic growth and stability are crucial in determining consumer spending and purchasing power, which directly impacts the demand for food products. Additionally, global economic trends, such as fluctuations in commodity prices and currency exchange rates, can also significantly impact the cost of imported food items, making them more or less affordable for consumers. Furthermore, fiscal policies, such as taxation and subsidies, can also affect the profitability of food businesses and overall market performance.

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.