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West & Central Africa Food and Drink Report Q4
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West & Central Africa Food and Drink Report Q4
2012
- Product Code:BMI08599
- Publication Date:September 2012
- Publisher:Business Monitor
- Product Type: Report
- Pages:62
- ISBN:2049-0585
West & Central Africa Food and Drink Report Q4 2012
BMI View: We hold a positive view towards Cameroon's food, drink and mass grocery retail industries over our forecast period, in line with our broadly positive view on the country's consumer sector, which is already one of the region's most established. We expect consumer spending power to grow in line with the country's strong medium-term growth outlook, with growth in economic activity driven by the ongoing expansion of the country's oil industry and the subsequent inflow of investment into the market. This will feed through into falling unemployment, growing consumer confidence and increased spending. Key Forecasts
.. Total food consumption growth in 2012: 7.9 % year-on-year (y-o-y); compound annual growth to 2016: 9.5%. .. Mass grocery retail sales growth in 2012:9.5%; compound annual growth to 2016: 15.7%. .. Beer sales growth in 2012: 4.3%; compound annual growth to 2016: 3.6%. Key Trends Population Growth: In line with the wider Sub-Saharan African region, a major factor in West and Central Africa's appeal to investors is its favourable population dynamics. Nigeria, with its massive population, leads the pack in this regard. However, Cameroon's population dynamics are also a major plus point for investors. The country's 20.0mn-strong population (as of 2011) will grow to 24.1mn by 2020 and by an enormous 88% to 38.5mn in 2050. Most notable is the age profile of the population; in 2012, 51% of Cameroon's population is forecast to be younger than 20, and this provides immense longterm growth opportunities for regional investors. Formalisation of Retailing: Throughout the region, our forecasts for mass grocery retail sales growth outstrip our forecasts for food consumption growth, although it should be noted that both are broadly impressive. The outperformance of retail will be a result of the ongoing formalisation of the sector and the fact that it is, in most cases, coming from an exceptionally low base. The addition of just a few modern retail outlets, which cause shoppers to trade up and away from traditional independent stores and marketplaces, will have a massive impact on growth in the sector. In Cameroon, we estimate that only around 2% of grocery retail sales are accounted for by the organised sector, providing tremendous room for growth. Risk/Reward Ratings: Cameroon is in 10th place out of the 13 regional markets that are ranked for Sub-Saharan Africa within BMI's Food & Drink Risk/Reward Ratings. The country scores above the regional average in terms of rewards - an illustration of the massive growth opportunities available in the region. West & Central Africa Food & Drink Q4 2012
.. Total food consumption growth in 2012: 9.9%. Compound annual growth to 2016: 10.3%. .. Mass grocery retail sales growth in 2012: 14.0%. Compound annual growth to 2016: 14.0%. .. Beer sales growth in 2012: 8.0%. Compound annual growth to 2016:6%. Key Trends Population Growth: In line with the wider Sub-Saharan African region, a major factor in West and Central Africa's appeal to investors is its favourable population dynamics. Nigeria, with its massive population, leads the pack in this regard. However, Côte d'Ivoire's population dynamics are also a major plus point for investors. The country's already attractive 20.2mn-strong population base (as of 2011) will grow to 24.5mn by 2020 and by a massive 98% to a very healthy 40.7mn in 2050. Most notable is the age profile of the population - in 2012, 51% of Côte d'Ivoire's population is forecast to be younger than 20, and this provides immense long-term growth opportunities for regional investors. Formalisation of Retailing: Throughout the region, our forecasts for mass grocery retail sales growth outstrip our forecasts for food consumption growth, although it should be noted that both are broadly impressive. The outperformance of retail will be a result of the ongoing formalisation of the sector and the fact that it is, in most cases, coming from an exceptionally low base. The addition of just a few modern retail outlets, which cause shoppers to trade up and away from traditional independent stores and marketplaces, will have a massive impact on growth in the sector. In Côte d'Ivoire, we estimate that only around 3% to 4% of grocery retail sales are accounted for by the organised sector and this provides tremendous room for growth. Risk/Reward Ratings: Côte d'Ivoire is tied for 11th place out of 13 regional markets that are ranked for Sub-Saharan Africa within BMI's Food & Drink Risk/Reward Ratings. The country scores above the regional average in terms of rewards - an illustration of the massive growth opportunities available in the region. However, it scores well below the regional average in terms of risk, highlighting the major West & Central Africa Food & Drink Q4 2012 .. Per capita food consumption growth in 2012: 3.8%. Compound annual growth to 2016: 2.9%. .. Mass grocery retail sales growth in 2012: 12.5%. Compound annual growth to 2016: 13.1%. .. Beer volume sales growth in 2012: 3.1%. Compound annual growth to 2016: 4.4%. Key Trends Population Growth: In line with the wider Sub-Saharan African region, a major factor in West and Central Africa's appeal to investors is its favourable population dynamics. Nigeria, with its massive population, leads the pack in this regard. Gabon is at the opposite end of the scale. Similar to most of its regional peers, it will enjoy very strong population growth - the size of the country's population forecast to increase by 75% out to 2050. Also in keeping with broader regional dynamics, Gabon has a very positive age profile, with 46% of the country's population expected to be younger than 20 in 2012. However, growth is coming from a very low base. Gabon's population is forecast to reach 1.6mn in 2012, and this marks it out as significantly less attractive than many of its neighbours. Formalisation of Retailing: Throughout the region, our forecasts for mass grocery retail sales growth outstrip our forecasts for food consumption growth, although it should be noted that both are broadly impressive. The outperformance of retail will be a result of the ongoing formalisation of the sector and the fact that it is, in most cases, coming from an exceptionally low base. The addition of just a few modern retail outlets, which cause shoppers to trade up and away from traditional independent stores and marketplaces, will have a massive impact on growth in the sector. In Gabon, we estimate that only around 3% to 4% of grocery retail sales are accounted for by the organised sector, and this provides strong prospects for growth in spite of the limited size of the potential audience. Risk/Reward Ratings: Gabon falls in 13th place out of the 13 regional markets that are ranked for Sub-Saharan Africa within BMI's Food & Drink Risk/Reward Ratings. The country's rewards score is low by West & Central Africa Food & Drink Q4 2012
- BMI Industry View
- Cameroon
- Côte d'Ivoire
- Gabon
- Business Environment
- Sub-Saharan Africa Food & Drink Ratings
- Table: Risk/Reward Sub-Factor Ratings Q412 (scores out of 10)
- Table: Sub-Saharan Africa Food & Drink Risk/Reward Ratings Q412
- Macroeconomic Forecast
- Cameroon
- Table: Cameroon - Economic Activity
- Côte d'Ivoire
- Table: Côte d'Ivoire - Economic Activity
- Gabon
- Industry Forecast
- Cameroon
- Food
- Table: Cameroon - Food Consumption
- Table: Cameroon - Confectionery
- Drink
- Table: Cameroon - Alcoholic Drinks
- Table: Cameroon - Soft Drinks
- Mass Grocery Retail
- Table: Cameroon - Mass Grocery Retail Sales
- Côte d'Ivoire
- Food
- Table: Côte d'Ivoire - Food Consumption, 2009-2016
- Drink
- Table: Côte d'Ivoire - Alcoholic Drinks, 2009-2016
- Mass Grocery Retail
- Table: Côte d'Ivoire - Mass Grocery Retail, 2009-2016
- Gabon
- Food
- Table: Gabon - Food Consumption
- Drink
- Table: Gabon - Soft Drinks
- Table: Gabon - Alcoholic Drinks
- Mass Grocery Retail
- Table: Gabon - Mass Grocery Retail Sales
- Market Overview
- Looking Beyond Ghana And Nigeria For Opportunities In West Africa
- SABMiller's Sechaba Breweries: SSA's Most Efficient Beer Company?
- Demographic Forecast
- Cameroon
- Table: Cameroon - Population By Age Group,1990-2020
- West & Central Africa Food & Drink Q4
- Table: Cameroon - Population By Age Group,1990-2020
- Table: Cameroon - Key Population Ratios,1990-2020
- Table: Cameroon - Rural & Urban Population,1990-2020
- Côte d'Ivoire
- Table: Côte d'Ivoire - Population By Age Group, 1990-2020
- Table: Côte d'Ivoire - Population By Age Group, 1990-2020
- Table: Côte d'Ivoire - Key Population Ratios, 1990-2020
- Table: Côte d'Ivoire - Rural & Urban Population, 1990-2020
- Gabon
- Table: Gabon - Population By Age Group, 1990-2020
- Table: Gabon - Population By Age Group, 1990-2020
- Table: Gabon's Key Population Ratios, 1990-2020
- Table: Gabon's Rural And Urban Population, 1990-2020
- Risk/Reward Ratings Methodology
- Table: Rewards
- Table: Risks
- Weighting
- Table: Weighting
- BMI Food & Drink Industry Glossary
- Food & Drink
- Mass Grocery Retail
- BMI Food & Drink Forecasting & Sourcing
- How We Generate Our Industry Forecasts
- Sourcing
