Food - Zimbabwe | Statista Market Forecast

Food - Zimbabwe

Zimbabwe

Highlights

Revenue in the Food market amounts to US$6.10bn in 2024. The market is expected to grow annually by 8.83% (CAGR 2024-2029).
The market's largest segment is the segment Bread & Cereal Products with a market volume of US$1.08bn 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$358.20 are generated in 2024.
In the Food market, 1.6% of total revenue will be generated through online sales by 2024.
In the Food market, volume is expected to amount to 1.85bn kg by 2029. The Food market is expected to show a volume growth of 2.3% in 2025.0.
The average volume per person in the Food market is expected to amount to 97.88kg 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 Zimbabwe is experiencing moderate growth due to several factors, including the increasing adoption of digital technologies, rising health awareness among consumers, and the convenience of online food services. However, the market's growth rate is subdued, likely influenced by factors such as economic instability, limited access to technology, and challenges in supply chain management. Despite these challenges, the market is expected to continue growing as consumers prioritize convenience and healthy food options.

Customer preferences: As the cost of living continues to rise in Zimbabwe, consumers are becoming more price-conscious and are gravitating towards more affordable food options. This has resulted in a rise in demand for locally produced and budget-friendly food products. Additionally, there has been a shift towards healthier food choices, with consumers showing a preference for organic and natural ingredients. This trend is driven by a growing awareness of the benefits of a healthy diet and a desire for sustainable and ethical food practices.

Trends in the market: In Zimbabwe, The Food market industry is experiencing a shift towards locally sourced and organic products, as consumers become more health-conscious and demand sustainable options. This trend is expected to continue, with a focus on promoting small-scale farming and reducing reliance on imported goods. The significance of this trend lies in the potential for economic growth and job creation in the agriculture sector, as well as the potential for improved food security and nutrition for the population. However, it may also pose challenges for larger food companies and retailers who rely on imported goods and may need to adapt their business models. Industry stakeholders should closely monitor and adapt to these trends in order to remain competitive in the evolving market.

Local special circumstances: In Zimbabwe, The Food market is heavily influenced by the country's unique geographical and cultural factors. The landlocked nation's climate and terrain make it challenging for traditional farming practices, leading to a reliance on imported food products. Additionally, Zimbabwe's diverse ethnic groups have varying dietary preferences, creating a diverse market for food products. The country also has strict regulations on food imports, promoting the growth of domestic food manufacturing and processing industries. These factors contribute to a dynamic and competitive food market in Zimbabwe.

Underlying macroeconomic factors: The performance of The Food market in Zimbabwe is heavily influenced by macroeconomic factors such as the country's national economic health, fiscal policies, and global economic trends. Currently, Zimbabwe is facing economic challenges such as high inflation rates and a shortage of foreign currency, which has resulted in a decline in consumer purchasing power and a decrease in overall market demand. Additionally, the country's political instability and limited access to credit have also hindered market growth. However, efforts to improve the country's economic conditions, such as the implementation of fiscal and monetary policies, could potentially stimulate market growth in the future. Furthermore, with a growing population and increasing urbanization, there is a growing demand for affordable and accessible food products, creating potential opportunities for market growth in Zimbabwe.

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.