Food - Western Africa

Western Africa

Revenue in the Food market amounts to US$295.30bn in 2024. The market is expected to grow annually by 10.46% (CAGR 2024-2029).
The market's largest segment is the segment Meat with a market volume of US$58.88bn in 2024.
In global comparison, most revenue is generated in China (US$1,601bn in 2024).
In relation to total population figures, per person revenues of US$704.20 are generated in 2024.
In the Food market, 0.5% of total revenue will be generated through online sales by 2024.
In the Food market, volume is expected to amount to 74.04bn kg by 2029. The Food market is expected to show a volume growth of 4.3% in 2025.
The average volume per person in the Food market is expected to amount to 148.70kg in 2024.

Key regions: United States, Canada, China, India, South Korea

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

Region

Region comparison

Currency

Analyst Opinion

The Food market in Western Africa is experiencing subdued growth due to various factors such as low consumer purchasing power, limited access to technology, and inadequate infrastructure for food production and distribution. However, the growing demand for convenience food and increasing awareness of healthy eating habits are driving the market forward. The sub-markets of Dairy Products & Eggs, Meat, Fish & Seafood, Fruits & Nuts, Vegetables, Bread & Cereal Products, Oils & Fats, Sauces & Spices, Spreads & Sweeteners, Confectionery & Snacks, Baby Food, Pet Food, Processed Vegetables, Fruit & Potatoes, and Pasta & Rice play a significant role in shaping the overall market growth.

Customer preferences: As Western Africa continues to experience economic growth and urbanization, there has been a noticeable increase in demand for convenience and accessibility in The Food market. This has led to a rise in online food delivery services and mobile apps that offer quick and easy access to a variety of cuisines. Additionally, there has been a growing preference for healthier food options, with consumers seeking out organic and locally sourced products. This shift towards healthier and more convenient food choices is driven by the increasing awareness of the importance of nutrition and the desire for a more balanced lifestyle.

Trends in the market: In Western Africa, The Food market industry is experiencing a shift towards more sustainable and locally-sourced products. This trend is driven by consumer demand for healthier and ethically-produced options, as well as government initiatives promoting domestic agriculture. Additionally, there is a growing interest in e-commerce and online food delivery services, as seen in other global markets. These trends have significant implications for industry stakeholders, as they may need to adapt their supply chains and marketing strategies to cater to these evolving preferences. Furthermore, this trajectory has the potential to boost economic growth and create more job opportunities in the region.

Local special circumstances: In Western Africa, The Food market is heavily influenced by the region's rich cultural diversity and reliance on traditional agriculture. This creates a unique market dynamic, as local produce and traditional recipes are highly valued by consumers. Additionally, the region's vast and diverse geography presents challenges for transportation and distribution, impacting the availability and pricing of certain foods. Furthermore, regulatory differences between countries within the region can also affect the market, as trade and import/export policies can vary. These factors contribute to a distinct and evolving food market in Western Africa.

Underlying macroeconomic factors: The Food market in Western Africa is heavily influenced by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. The region's economic stability and growth directly impact the purchasing power of consumers, which in turn affects the demand for food products. Moreover, policies on trade and agriculture, as well as government investments in infrastructure and agriculture, play a crucial role in the performance of The Food market. Additionally, factors such as population growth, urbanization, and changing dietary habits also impact the demand for food products in the region.

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.