PPT - West Africa Food Services Market to Witness Huge Growth during 2019-2024

West Africa Food Services Market Research Report and Forecast 2024

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West Africa Food and Services Market Overview: According to the latest report by IMARC Group, titled “ West Africa Food Services Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019 -2024 ” the West Africa food services market reached a value of more than US$ 5 Billion in 2018. Food services refer to activities involved in preparing and serving food to consumers dining out of home.

They include both commercial and non-commercial operation, such as fine dining and fast food restaurants; such as fine dining and fast food restaurants; school and hospital cafeterias; and caterers and food truck operators. Over the past few years, the food services industry in West Africa has witnesses rapid expansion as the large and growing population in West African countries offers vast growth opportunities for food service providers. Apart from this, willingness of the consumers to experience bold flavours, premium alternatives, etc. has further been driving the growth of the food services market in West Africa.

West Africa Food Services Market Trends Due social and economics changes in the West Africa, these has been a shift in the food consumption patterns of the consumers. The rising employment rate and disposable incomes have led to the expansion of the middle-class, which is developing a taste for ‘aspirational’ Western foods, such as burgers or European dishes.

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157.3 146.7 152.0 141.4 136.1 125.5 130.8

160 140 120 100 80 60 40 20 0

120.2 2011

2012

2013

2014

2015

2016

2017

2018

In Billion US$

In Billion US$

Report Description

180 160 140 120 100 80 60 40 20 0

160.0 2019

175.9

181.2

186.5

165.3

170.6

2020

2021

2022

2023

2024

A number of local restaurants have also opened up which provide regional and traditional dishes to western fast foods. Additionally, the increase in migration rates have also diversified the food habits of the consumers, specifically in urban areas. Looking forward, the market value is projected to reach US$ X Billion by 2024, expanding at a CAGR of X% during 2019-2024.

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In line with this, several international fast food and restaurants chains have forayed into the larger regional markets. These companies are introducing food items made with local ingredients so as to attracts new consumers.

Key Market Segmentation: Market Segmentation by Distribution Channel • •

Online Offline

The food services market in West Africa has been segmented on the basis of distribution channel which include online and offline. Currently, offline mode of retail dominated the market, holding majority of the total market share.

Market Segmentation by End-Use • •

Commercial Non-commercial

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Based on end-use, the market has been segregated into commercial and non commercial sectors. The commercial sector holds the majority of the total market share on account of an increase in the trend of dining out among the young and working consumers.

For more information, click here: https://www.imarcgroup.com/west-africa-food-services-market Market Segmentation by Retail Type • •

Eat-In Take Away

On the basis of retail type, the market has been divided into eat-in and take away. In West Africa, consumers currently prefer the eat-in type of foodservice retail.

Market Segmentation by Food Services Type • • •

Full Services Restaurants Fast-Food Joints Streets Kiosks/Stalls

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Report Description • •

Cafes and Bars Others

The different type of services segments available to the consumers in West Africa include full-service restaurants, fast-food joints, street kiosks/stalls, and cafes and bars. Amongst these, full services restaurants represent the largest segment.

Market Segmentation by Region • • • • •

Nigeria Ghana Cote d’lvoire Senegal Others

On a geographical front, Nigeria represents the largest food service market in West Africa. This can be attributed to the large population various food service providers to enter the market and establish their outlets. Nigeria is followed by Ghana, Cote d’lvoire and Senegal.

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Report Description Competitive Landscape:

The competitive landscape of the West Africa food services market has also been provided along with the profiles of key players operative in the region.

Browse Related Report Food Service Market Report: https://www.imarcgroup.com/food-service-market Soy Food Market Report: https://www.imarcgroup.com/soy-food-market

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