DUBLIN, Nov. 14, 2018 /PRNewswire/ --
The "West Africa Food Services Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023" report has been added to ResearchAndMarkets.com's offering.
The West Africa food services market reached a value of US$ 5 Billion in 2017. The West African region is quite diverse in terms of country size, population density, weather conditions, natural resources, etc.
Countries in this region also differ significantly in terms of linguistic, historic and cultural dimensions. Despite major differences, a number of broad drivers and trends are catalysing the food services market in the region. These include strong population growth, rapid urbanisation and migration, large young population, rising incomes, changing lifestyles, broadening of food habits, etc.
Catalyzed by these drivers, the food services market in the region is experiencing a transition. Some of the trends include an increasing demand for convenience, changing dietary habits, and a rising concern regarding the various aspects of product quality such as cleanliness and healthfulness.
West Africa Foodservice Market Drivers/Constraints:
- We expect the population of ECOWAS countries to increase from around 367 Million in 2017 to 426 Million by 2023, exhibiting a CAGR of 2.5% during the period. This is expected to continuously increase the food demand in the region.
- West Africa has witnessed strong urban growth since 1950, with the urban population increasing from around 5 million in 1950 to over 165 million in 2017. With around 40%-45% of its total population living in cities, the region has strong potential for the food services industry.
- West Africa represents one of the youngest populations in the world. With rising disposable incomes, this category can be regarded as a major driver of processed foods in the region. This population segment is adopting new lifestyles and is more open in experimenting with different flavors and food types.
- The West African region, similar to most of the other developing world, has witnessed strong economic growth over the last three decades. GDP per capita in the ECOWAS region has witnessed an average annual growth of around 4% over the last 15 years. This has resulted in rising disposable incomes and a strong growth in the middle-class population.
- Urbanisation, migration, and wider exposure to digital media have led to a diversification of food habits, ranging from both traditional foods to the spread of Western-style fast foods, particularly in the urban regions. Nevertheless, catalyzed by increasing incomes and education, there is also a rising trend of health consciousness, generating a demand for healthier food options.
Country-wise, the market has been segmented into Nigeria, Ghana, Cote d' Ivoire, Senegal and Others. Amongst these, Nigeria is the biggest market, accounting for the majority of the West African foodservices market.
Distribution Channel Insights:
Based on the distribution channel, the market has been segmented into online and offline modes. Amongst these, offline mode accounts for the majority of the total market.
On the basis of end-uses, the market has been segmented into the commercial sector and the non-commercial sector. The commercial sector currently represents the bigger segment.
Retail Type Insights:
Based on the retail type, the market can be segmented into eat-in and take away. Amongst these, the eat-in type currently represents the bigger segment.
Food Service Type Insights:
On the basis of food service type, the market has been segmented into full service restaurants, fast-food joints, street kiosks/stalls, and cafes and bars. Fast food restaurants currently represent the biggest segment.
The competitive landscape of the market has been examined in the report and the profiles of key players have also been provided.
Key Topics Covered:
2 Scope and Methodology
2.1 Objectives of the Study
2.3 Data Sources
2.4 Market Estimation
2.5 Forecasting Methodology
3 Executive Summary
4.2 Key Industry Trends
5 West Africa Food Services Market
5.1 Market Overview
5.2 Market Performance
5.3 Market Breakup by Distribution Channel
5.4 Market Breakup by End-Use
5.5 Market Breakup by Retail Type
5.6 Market Breakup by Food Service Type
5.7 Market Breakup by Country
5.8 Market Forecast
5.9 SWOT Analysis
5.10 Value Chain Analysis
5.11 Porters Five Forces Analysis
5.12 Key Market Drivers and Challenges
6 Market Breakup by Distribution Channel
7 Market Breakup by End-Use
8 Market Breakup by Retail Type
9 Market Breakup by Food Service Type
9.1 Full Service Restaurants
9.3 Streets Kiosks/Stalls
9.4 Cafes and Bars
10 Market Breakup by Country
10.3 Cote d' Ivoire
11 Competitive Landscape
11.1 Market Structure
11.2 Key Players
12 Key Player Profiles
For more information about this report visit https://www.researchandmarkets.com/research/rsclww/west_africa_food?w=5
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