Market Forecast By Product Types (Cakes and Pastries, Biscuits, Bread, Morning Goods & Others), By Distribution Channels (Hypermarkets/Supermarkets, Convenience Stores, Speciality Stores, Online Retailing & Others), By Countries (Kenya, Nigeria, South Africa) and competitive landscape
Product Code: ETC002483 | Publication Date: Sep 2024 | Updated Date: Sep 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 200 | No. of Figures: 90 | No. of Tables: 30 | |
Report Name | Africa Bakery Product Market |
Forecast period | 2024-2030 |
CAGR | 6.2% |
Growing Sector | Food and Beverage |
The Africa Bakery Product Market report provides a comprehensive evaluation by types, application segments, leading players, and key government initiatives. This detailed report offers stakeholders valuable insights into current and projected market trends, main drivers, high-growth segments, and key challenges, aiding in the formulation of strategic decisions and aligning market strategies with evolving industry dynamics.
The Africa Bakery Product Market is currently experiencing growth driven by increasing urbanization, changing consumer lifestyles, and a rising demand for convenience food. The bakery sector is essential in many African economies, contributing significantly to local employment and food security. Key trends include the growing popularity of artisanal and health-conscious products, such as whole grain and gluten-free options. However, challenges such as fluctuating raw material prices, inadequate infrastructure, and competition from informal markets hinder its growth.
According to 6Wresearch, The Africa Bakery Product Market size is expected to grow at a significant CAGR of 6.2% during the forecast period 2024-2030. Several factors contribute to the growth of the Africa Bakery Product Market, including technological advancements in baking processes that enhance efficiency and product quality. Changing consumer preferences, particularly towards ready-to-eat and healthier options, are also driving demand. Additionally, supportive government policies aimed at boosting local manufacturing and reducing import tariffs, alongside growing investments in infrastructure, enable bakery businesses to expand operations and cater to the increasing market demands.
Despite the growth potential, the Africa Bakery Product Market faces significant challenges. Fluctuating prices of raw materials, such as flour and sugar, can severely impact profitability. Furthermore, inadequate transportation and distribution networks lead to supply chain inefficiencies, particularly in rural areas. The market also grapples with heightened competition from unregulated and informal sectors, which can offer lower prices, challenging formally established businesses. Moreover, compliance with food safety regulations poses additional hurdles for many operators.
Key players in the Africa Bakery Product Market include brands such as Tiger Brands, Pioneer Foods, and Baked Goodies Limited. These companies leverage strong distribution networks and brand recognition to capture market share, while focusing on innovation and product diversification to meet evolving consumer demands. Their commitment to quality and local sourcing further strengthens their position within the market.
The African governments have implemented various initiatives to support the bakery sector, such as the "Support for Smallholder Farmers Program," which aims to bolster local agriculture and secure a steady supply of raw materials for bakers. Additionally, policies to improve food safety standards, like the "Food Industry Safety Regulation," are advancing the industry by fostering public trust and quality assurance in bakery products. Investments in infrastructure aimed at enhancing distribution and logistics efficiency are also critical to boosting market growth.
The Africa Bakery Product Market is set for positive growth in the coming years, with opportunities stemming from rising health consciousness and demand for premium bakery products. The trend towards sustainable and eco-friendly practices is anticipated to shape future product offerings significantly. Moreover, the increasing penetration of e-commerce channels for bakery distribution is predicted to expand market reach. However, businesses must navigate challenges like inflation and changing regulatory landscapes to maintain competitiveness and profitability.
According to Ravi Bhandari, Research Head, 6Wresearch, Among the product types in the African bakery market, bread is experiencing the fastest growth. The increasing urbanization and changing dietary habits are driving demand for various bread options, particularly among health-conscious consumers who prefer whole grain and artisan varieties. Additionally, the convenience offered by pre-packaged bread products is appealing to busy lifestyles, further propelling this segment's expansion.
In terms of distribution channels, online retailing is rapidly growing as consumers shift towards the convenience of purchasing bakery products through e-commerce platforms. This trend is particularly notable in urban areas where delivery services are increasingly accessible, allowing consumers to order fresh bakery items from the comfort of their homes. The rise of digital payment methods and a growing number of online grocery platforms contribute significantly to this segment's success.
When examining growth by country, Nigeria stands out as the fastest-growing market for bakery products. The country's expanding population, coupled with a rising middle class and increasing disposable incomes, is driving a surge in demand for a variety of baked goods. Furthermore, the shift towards Western eating habits and the growth of retail chains are creating ample opportunities for bakery product manufacturers to penetrate this dynamic market.
The report offers a comprehensive study of the following market segments
1. Executive Summary |
2. Introduction |
2.1. Report Description |
2.2. Key Highlights of The Report |
2.3. Market Scope & Segmentation |
2.4. Research Methodology |
2.5. Assumptions |
3. Africa Bakery Product Market Overview |
3.1. Africa Bakery Product Market Revenues, 2020-2030F |
3.2. Africa Bakery Product Market Revenue Share, By Countries, 2020 & 2030F |
3.3. Africa Bakery Product Market - Industry Life Cycle |
3.4. Africa Bakery Product Market - Porter’s Five Forces |
4. Africa Bakery Product Market Dynamics |
4.1. Impact Analysis |
4.2. Market Drivers |
4.3. Market Restraints |
5. Africa Bakery Product Market Trends |
6. Nigeria Bakery Product Market Overview |
6.1 Nigeria Bakery Product Market Revenues, 2020-2030F |
6.2 Nigeria Bakery Product Market Revenues, By Product Types, 2020-2030F |
6.2.1 Nigeria Cake and Pastries Market Revenues, 2020-2030F |
6.2.2 Nigeria Biscuits Market Revenues, 2020-2030F |
6.2.3 Nigeria Bread Market Revenues, 2020-2030F |
6.2.4 Nigeria Morning Goods Market Revenues, 2020-2030F |
6.2.5 Nigeria Other Bakery Product Market Revenues, 2020-2030F |
6.3 Nigeria Bakery Product Market Revenues, By Distribution Channels, 2020-2030F |
6.3.1 Nigeria Bakery Product Market Revenues, By Hypermarket/Supermarket, 2020-2030F |
6.3.2 Nigeria Bakery Product Market Revenues, By Convenience Stores, 2020-2030F |
6.3.3 Nigeria Bakery Product Market Revenues, By Speciality Stores, 2020-2030F |
6.3.4 Nigeria Bakery Product Market Revenues, By Online Retailing, 2020-2030F |
6.3.5 Nigeria Bakery Product Market Revenues, By Others, 2020-2030F |
7. Kenya Bakery Product Market Overview |
7.1 Kenya Bakery Product Market Revenues, 2020-2030F |
7.2 Kenya Bakery Product Market Revenues, By Product Types, 2020-2030F |
7.2.1 Kenya Cake and Pastries Market Revenues, 2020-2030F |
7.2.2 Kenya Biscuits Market Revenues, 2020-2030F |
7.2.3 Kenya Bread Market Revenues, 2020-2030F |
7.2.4 Kenya Morning Goods Market Revenues, 2020-2030F |
7.2.5 Kenya Other Bakery Product Market Revenues, 2020-2030F |
7.3 Kenya Bakery Product Market Revenues, By Distribution Channels, 2020-2030F |
7.3.1 Kenya Bakery Product Market Revenues, By Hypermarket/Supermarket, 2020-2030F |
7.3.2 Kenya Bakery Product Market Revenues, By Convenience Stores, 2020-2030F |
7.3.3 Kenya Bakery Product Market Revenues, By Speciality Stores, 2020-2030F |
7.3.4 Kenya Bakery Product Market Revenues, By Online Retailing, 2020-2030F |
7.3.5 Kenya Bakery Product Market Revenues, By Others, 2020-2030F |
8. South Africa Bakery Product Market Overview |
8.1 South Africa Bakery Product Market Revenues, 2020-2030F |
8.2 South Africa Bakery Product Market Revenues, By Product Types, 2020-2030F |
8.2.1 South Africa Cake and Pastries Market Revenues, 2020-2030F |
8.2.2 South Africa Biscuits Market Revenues, 2020-2030F |
8.2.3 South Africa Bread Market Revenues, 2020-2030F |
8.2.4 South Africa Morning Goods Market Revenues, 2020-2030F |
8.2.5 South Africa Other Bakery Product Market Revenues, 2020-2030F |
8.3 South Africa Bakery Product Market Revenues, By Distribution Channels, 2020-2030F |
8.3.1 South Africa Bakery Product Market Revenues, By Hypermarket/Supermarket, 2020-2030F |
8.3.2 South Africa Bakery Product Market Revenues, By Convenience Stores, 2020-2030F |
8.3.3 South Africa Bakery Product Market Revenues, By Speciality Stores, 2020-2030F |
8.3.4 South Africa Bakery Product Market Revenues, By Online Retailing, 2020-2030F |
8.3.5 South Africa Bakery Product Market Revenues, By Others, 2020-2030F |
9. Africa Bakery Product Market - Key Performance Indicators |
10. Africa Bakery Product Market - Opportunity Assessment |
10.1. Africa Bakery Product Market Opportunity Assessment, By Countries, 2030F |
11. Africa Bakery Product Market Competitive Landscape |
11.1. Africa Bakery Product Market Revenue Share, By Companies, 2023 |
11.1.1 Nigeria Bakery Product Market Revenue Share, By Companies, 2023 |
11.1.2 Kenya Bakery Product Market Revenue Share, By Companies, 2023 |
11.1.3 South Africa Bakery Product Market Revenue Share, By Companies, 2023 |
11.2. Africa Bakery Product Market Competitive Benchmarking, By Operating & Technical Parameters |
12. Company Profiles |
13. Key Recommendations |
14. Disclaimer |
Market Forecast By Product Types (Cakes and Pastries, Biscuits, Bread, Morning Goods & Others), By Distribution Channels (Hypermarkets/Supermarkets, Convenience Stores, Speciality Stores, Online Retailing & Others), By Countries (Kenya, Nigeria, South Africa) and competitive landscape
Product Code: ETC002483 | Publication Date: Jul 2022 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 200 | No. of Figures: 90 | No. of Tables: 30 |
Africa Bakery Product market report thoroughly covers the market by product types, distribution channels, and key countries including Nigeria, Kenya, South Africa, and the rest of the Africa region. Africa Bakery Products market outlook report provides an unbiased and detailed analysis of the ongoing Africa Bakery Products market trends, opportunities/high growth areas, and drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Africa Bakery Product Market has seen tremendous growth due to numerous factors. The market is primarily being driven by a growing population, urbanization, and changing consumer preferences. Additionally, the key drivers of growth in the bakery product market are the increasing demand for convenience foods among urban consumers. In general, people living in cities move to cities and have busy lifestyles due to which there has been a significant increase in demand for ready-to-eat foods products. This has created opportunities for bakery product manufacturers to develop new products to cater to the changing consumer needs.
Another trend that has been driving the Africa bakery product market size is the increasing popularity of artisanal and premium baked goods. Overall, the market is expected to grow in the years to come as consumer demand healthy and premium baked products. However, the limited availability of skilled labor, the high cost of raw materials, and the lack of modern equipment are the major challenges for the market. Apart from this, consumers in Africa are becoming more health-conscious, which is driving demand for healthier bakery products such as gluten-free items. The growing tourism industry in Africa is leading to increased demand for bakery products in cafes, hotels, and restaurants which is also contributing to the market expansion.
Africa bakery product market is anticipated to grow over the coming years due to the increasing preference for whole grain, high in fiber, gluten-free and fortified products, rising health consciousness along with growing demand for ready-to-eat foods owing to busy work schedules is likely to promote the sales of bakery products. However, the coronavirus spread is expected to derail the bakery product market growth during the initial months of 2020 owing to disruptions in the supply chain and acute food shortage caused by the suspension of production activities during the lockdown in the region.
According to 6Wresearch, Africa Bakery Product Market size is expected to register significant growth during the forecast period 2020-2026. Growing urbanization coupled with a surging working population is adding to the Africa Bakery product market growth. Additionally, increasing demand for instant nutritious products is developing the growth of the industry. Rising penetration towards healthy snacking options coupled with increasing consumption of bread products. The outburst of the coronavirus pandemic led to disruption in the supply chain due to the shortage of workforce in the country.
The bakery product market would gain momentum by the end of 2020 due to changes in food preferences, a shift towards healthy lifestyles, and rising demand for indulgent, premium, designer-baked desserts and sweets would act as the major driving factors promoting the growth of bakery products in the forthcoming years.
Based on distribution channels, hypermarkets/supermarkets are expected to register a major market share in the Africa bakery product market due to ease of shopping along with the availability of discounts and better product offerings provided by these stores. Further, on the basis of product types, the bread segment is anticipated to dominate the bakery product market as bread is considered as a staple diet for many local cuisines thereby, increasing the demand for bread.
On the basis of country, South Africa is expected to dominate the overall Africa Bakery Product Market Share.
Africa Bakery Products Market report provides a detailed analysis of the following market segments: