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    Home > AFRICA’S BIG 7-WHY AFRICA IS THE PERFECT MARKET

    AFRICA’S BIG 7-WHY AFRICA IS THE PERFECT MARKET

    Echemi 2019-04-09

     

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    South Africa is the ideal location for this event: it is Africa’s largest and most developed economy, it is the most sophisticated and fast moving food and drink market and it acts as a trading gateway to the rest of the continent’s markets. Food production is one of the continents’ biggest manufacturing industries. The number of consumers in the food service industry will increase to 42 million during the course of 2017-18.

    AFRICA IS SPENDING UP TO $50 BILLION PER YEAR ON FOOD IMPORTS
    AFRICA NOW HAS THE FASTEST-GROWING MIDDLE CLASS IN THE WORLD. SOME 123 MILLION, 13% OF THE POPULATION, SPEND MORE THAN US$4 A DAY

    INCOME GENERATED BY THE SOUTH AFRICAN FOOD AND BEVERAGES INDUSTRY INCREASED BY 5,6% YEAR-ON-YEAR IN MARCH 2018

    INCOME EARNED IN THE FOOD AND BEVERAGES SECTOR IN SOUTH AFRICA IS DOMINATED BY INCOME FROM FOOD SALES OF RESTAURANTS AND COFFEE SHOPS, WITH IT MAKING UP ALMOST 45% OF ALL INCOME EARNED IN THE SECTOR.

    SOUTH AFRICA WAS AFRICA’S SECOND BIGGEST ECONOMY AT $349.3BILLION IN 2017

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