Food - Zambia

Zambia

Revenue in the Food market amounts to US$4,371.00m in 2024. The market is expected to grow annually by 9.82% (CAGR 2024-2029).
The market's largest segment is the segment Meat with a market volume of US$798.10m 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$205.10 are generated in 2024.
In the Food market, 2.2% of total revenue will be generated through online sales by 2024.
In the Food market, volume is expected to amount to 1,936.00m kg by 2029. The Food market is expected to show a volume growth of 3.1% in 2025.
The average volume per person in the Food market is expected to amount to 78.53kg 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 Zambia has been experiencing modest growth, influenced by factors such as increasing demand for convenience food, rising health consciousness among consumers, and the convenience of online food services. The sub-markets of Dairy Products & Eggs, Meat, Fish & Seafood, Fruits & Nuts, Vegetables, Bread & Cereal Products, Oils & Fats, Sauces & Spices, Convenience Food, Spreads & Sweeteners, Confectionery & Snacks, Baby Food, Pet Food, Processed Vegetables, Fruit & Potatoes, and Pasta & Rice all contribute to this growth rate. However, the overall growth is subdued due to challenges such as limited access to technology, high production costs, and inadequate infrastructure.

Customer preferences: As Zambia's economy continues to grow, consumer preferences in The Food market are shifting towards healthier and more sustainable options. There is a growing demand for organic and locally sourced products, driven by a cultural emphasis on traditional farming practices and a desire for fresher, more nutritious food. This trend is also influenced by a younger and more health-conscious demographic, as well as a rise in urbanization and a desire for convenience and sustainability. As a result, there is a growing market for alternative and plant-based protein sources, as well as an increased interest in food technology and sustainable packaging solutions.

Trends in the market: In Zambia, The Food market industry is experiencing a shift towards more sustainable and healthy food options. This trend is driven by increased awareness of the benefits of organic and locally sourced products. As a result, there has been a rise in demand for organic produce and products, leading to the emergence of specialized farmers' markets and online delivery services. Moreover, there is a growing trend of food companies incorporating sustainable practices in their production processes. This trajectory towards sustainability presents significant opportunities for industry stakeholders to tap into the growing demand for ethical and environmentally-friendly food options. However, it also poses challenges for small-scale farmers who may struggle to meet the requirements for organic certification. Overall, the current trend towards sustainable and healthy food options in Zambia has the potential to drive positive change in the industry and promote a more conscious approach to food consumption.

Local special circumstances: In Zambia, The Food market is heavily influenced by the country's agricultural landscape and cultural preferences. With a predominantly rural population, traditional farming practices and locally-sourced ingredients play a significant role in shaping The Food market. Additionally, government regulations around food safety and trade have a significant impact on the availability and pricing of food products. This unique combination of factors creates a market dynamic that is distinct from other countries, with a focus on local produce and traditional culinary preferences.

Underlying macroeconomic factors: The Food market in Zambia is heavily influenced by macroeconomic factors such as the country's economic health, global economic trends, and fiscal policies. Zambia's strong economic growth and stable political climate have attracted foreign investors and led to increased consumer spending, driving demand for food products. However, challenges such as high inflation rates and limited access to credit can hinder market growth. Additionally, rising health concerns and an increasing focus on healthy eating habits are driving demand for healthier and more sustainable food options in Zambia, creating opportunities for market expansion.

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.