Africa’s food & beverage industry: A flourishing market | The Planner

Africa is home to one of the world’s fastest-growing populations, projected to reach 2.5 billion people by 2050. This population boom drives the demand for diverse and innovative food and beverage products as well as culinary experiences, particularly sustainable options. Consequently, it’s unsurprising that Africa’s food and beverage industry is currently valued at US$313 billion and is expected to triple in size by 2030.

“The future of food and beverage is all about conscious consumption, exploring the ‘what,’ ‘when,’ ‘who,’ and ‘how’ of our meals. Sustainability, regional sourcing, and innovative technologies take centre stage, with consumers demanding more traceability for the brands they support and products they buy,” remarks Margaret Peters, Event Manager: Food & Hospitality at dmg events, South Africa.

Emphasis on eco-consciousness and sustainable practices

Eco-consciousness is crucial, with a growing demand for locally sourced ingredients, regenerative agriculture, and supporting local communities.

Join keynote speaker at Africa’s Big 7, Miles Kubheka, founder of Wakanda Food Accelerator as he delves into the transformation of Africa’s food system through innovation and partnerships. Insights include navigating the future of Africa’s food systems, understanding how innovation is reshaping food categories, transforming investment opportunities, and what technologies are working to solve supply chain challenges whilst keeping food affordable and accessible.

As sustainability progresses, the landscape of the packaging sector is undergoing a profound transformation. This shift is driven by an increasing emphasis on environmental transparency, innovation, and enhanced consumer engagement in the food and beverage industry. More informative labelling, detailed information about food origins, curbing food waste, and circular packaging are becoming the norm.

Gain insights from the panel discussion with Jayne Mammatt from Deloitte, Wendy Van Zyl from Libstar, and Sanjeev Raghubir from the Shoprite Group, as they explore what this means for your bottom line and how to prioritise climate solutions to accelerate your journey to net zero.

Another market gaining traction is the kasi economy, the modern South African township, a dynamic economy of informal cash businesses that fulfil the daily needs of its residents. This includes spaza shops, street hawkers, barbers, taxis, and taverns.

According to ‘The Rise of the Township Economy’ report by Retail Brief Africa, the value of the township economy is estimated to be R900 billion, with approximately R150 billion in cash spent at the estimated 150 000 spaza shops every year, contributing as much as 5.2% to South Africa’s GDP.

The township retail trade discussion, led by Mongezi Mtati, Senior Brand Strategist at Rogerwilco, will highlight today’s retail trade sector and investigate how you can tap into the thriving township economy value chain. This includes understanding the route to market, pricing models, messaging, funding options, re-fulfilment strategies, and new product categories.

Gathering the best in the business and showcasing quality and in-demand products across all sectors, from catering to bulk suppliers, Africa’s Big 7 offers something for everyone.

Exciting events and competitions

Don’t miss the 2024 Game of Chefs, an exciting culinary showdown between Africa’s most renowned chefs in a three-day battle of creativity and skill. Additionally, the SA Baker’s Challenge for novice and seasoned bakers, the Global Pizza Challenge, and the National Burger Challenge will see passionate pizza makers, local chefs, and amateur cooks compete for the ultimate pizza champion and best burger expert titles.