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 Rwanda has been experiencing slow growth, influenced by factors such as limited access to technology, low awareness of health benefits, and challenges in supply chain management. Despite the presence of various sub-markets, the overall market is hindered by these factors, resulting in a subdued growth rate. However, initiatives to improve infrastructure and increase consumer education on healthy eating habits could potentially drive growth in the future.
Customer preferences: As Rwandan consumers continue to prioritize convenience and accessibility, there has been a notable increase in demand for online food delivery services and meal kit subscriptions. This trend is driven by the growing number of busy professionals and a desire for more diverse and healthy dining options. Additionally, there has been a rising interest in plant-based and sustainable food products, reflecting a greater awareness and concern for environmental and ethical considerations among consumers.
Trends in the market: In Rwanda, The Food market industry is experiencing a shift towards more sustainable and locally-sourced food options. This trend is being driven by a growing awareness of environmental and health concerns, as well as government initiatives promoting agricultural development. As a result, there is a rise in demand for organic and fair trade products, and a push towards reducing food waste. This trend is expected to continue, with potential implications for industry stakeholders such as increased competition and the need to adapt to changing consumer preferences.
Local special circumstances: In Rwanda, The Food market is heavily influenced by the country's topography, with most of its population living in rural areas. This creates challenges in terms of transportation and distribution of food products, leading to higher prices and limited access to certain products. Additionally, cultural factors, such as traditional food preferences and eating habits, play a significant role in shaping the market. Furthermore, the government's regulations on food safety and import/export policies also impact the market's dynamics, with strict guidelines and inspections being crucial for market entry.
Underlying macroeconomic factors: The Food market in Rwanda is influenced by macroeconomic factors such as government policies, economic stability, and global trade. Rwanda has experienced steady economic growth in recent years, and has implemented policies to promote investment and trade. These efforts have led to increased consumer purchasing power and a growing middle class, driving demand for a variety of food products. Additionally, Rwanda's strong agricultural sector and favorable trade agreements have made the country a key player in the regional food market. However, challenges such as climate change and infrastructure limitations can impact the supply and distribution of food products, highlighting the need for continued investment in the sector.
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