africon recently presented at the German Sweets Association Annual Meeting 2024, and we highlighted the trajectory and potential of Africa’s growing sweet and snack market to key industry players.
With Africa’s rapid population growth and urbanization, demand for convenient and indulgent food options like sweets, snacks, and confectionery is rising. Africa’s sweet and snack market has grown at 4% CAGR since 2018, surging from $38 billion to $46 billion. Between 2017 and 2023, both categories enjoyed moderate growth rates of 4%. Pre-2024, although the confectionary segment (consisting of chocolate, sweet confectionery and ice cream) has been stagnant, i.e., growing at 3% CAGR, it is expected to accelerate to 7% CAGR after 2024. The snack food segment has been growing at 6% CAGR before 2024, and it is expected to continue to grow at 8% CAGR until 2028.
With the expanding market size, now is the time to explore your potential in Africa. Whether you’re looking to enter new markets, refine your strategy, or gain insights into local consumer behaviour, africon is here to provide expert guidance and tailored solutions to help your business go/grow in Africa.
What is the potential for you in Africa? If you have any questions, contact us at info@africon.de.
Read previous SOTMs (Slides of the month) here
Slide of the month (SOTM) July. Africa’s top 10 countries leading the solar energy transformation
Slide of the Month (SOTM) June. Which bottled water sizes are most popular in Kenya?
Slide of the month (SOTM) May. Mapping the sports market in Africa
