Food - Namibia | Statista Market Forecast

Food - Namibia

Namibia

Highlights

Revenue in the Food market amounts to US$1.83bn in 2024. The market is expected to grow annually by 6.95% (CAGR 2024-2029).
The market's largest segment is the segment Meat with a market volume of US$345.50m 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$691.00 are generated in 2024.
In the Food market, 5.5% of total revenue will be generated through online sales by 2024.
In the Food market, volume is expected to amount to 595.80m kg by 2029. The Food market is expected to show a volume growth of 3.2% in 2025.0.
The average volume per person in the Food market is expected to amount to 199.90kg 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 Namibia is experiencing minimal growth, influenced by factors such as changing consumer preferences, increasing competition, and limited infrastructure. The sub-markets, such as Dairy Products & Eggs and Convenience Food, face challenges like limited access to raw materials and fluctuations in demand. Additionally, the market is impacted by the country's reliance on imports and fluctuating exchange rates. Despite these challenges, The Food market in Namibia is expected to continue growing as the government invests in infrastructure and promotes domestic production.

Customer preferences: As Namibia's food market continues to grow, there has been a noticeable increase in consumer demand for sustainable and ethically sourced food products. This trend is driven by a growing awareness of the impact of food production on the environment and animal welfare. With an increasing focus on health and wellness, consumers are also showing a preference for organic and natural food options. Furthermore, the rise of social media and influencer culture has led to a greater emphasis on food aesthetics, with consumers seeking visually appealing and Instagram-worthy dishes.

Trends in the market: In Namibia, The Food market is experiencing a shift towards sustainable and organic products, as consumers become more health-conscious and environmentally aware. This trend is expected to continue, with a growing demand for locally sourced and ethically produced food. Additionally, there is a rise in online food delivery services, making it easier for consumers to access a wider range of food options. These trends have significant implications for industry stakeholders, as they must adapt to meet changing consumer preferences and leverage digital platforms to reach a larger market. Failure to do so may result in a loss of competitiveness in the evolving Food Market in Namibia.

Local special circumstances: In Namibia, The Food market is heavily influenced by the country's vast and diverse natural resources, including its fertile land and abundant wildlife. Additionally, the local food culture is heavily influenced by the country's diverse ethnic groups, resulting in a wide range of unique and traditional dishes. Furthermore, the country's strict regulations on food imports and exports have led to a self-sufficient market, with a focus on locally sourced and sustainable products. These factors contribute to the unique dynamics of The Food market in Namibia, setting it apart from other markets and creating opportunities for growth and innovation.

Underlying macroeconomic factors: The growth of The Food market market is also influenced by macroeconomic factors such as consumer spending, economic stability, and government policies. Countries with strong economic growth and stable political environments tend to see higher demand for food products, as consumers have more disposable income to spend on food. Additionally, government policies related to trade and agriculture can greatly impact the market, as they can either promote or hinder the growth of the industry. Furthermore, global economic trends such as inflation and exchange rates can also affect the cost of production and distribution, ultimately impacting the performance of The Food market market in Namibia.

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.