Africa is the second continent leading in the food and beverage industry globally and it is one of the few manufacturing industries that are blooming in the Africa economy. It makes up the highest percentage of the total GDP generating over 55 billion turn over and creating over 166 000 jobs annually. This is mainly due to the high population growth and the consumer preference shift to packaged and convenience foods.
Due to growing urbanization and higher disposable income in the Sub-Saharan region of Africa, the demand for mass market product of food and beverages as well as dairy products in general is expected to be higher than any other industry. According to an article by Food Stuff Africa, consumer expenditure on food and beverage is expected to increase from 53% of global expenditure in 2017 to 60% by 2030.”
Thus, the food and beverage is definitely one of the few industries that will remain attractive and beneficial for start-up businesses in the African continent. Refer to the link below for more information on the macroeconomic opportunities available in the food and beverage industry.