The FMCG sector in Africa has huge scope to develop. Even though Poverty levels in sub-Saharan Africa are quite high, but with food and other daily needs dominating consumer’s budgets. The food sub-sector of FMCG has a very large market to cater for with good penetration to expand.
According to the World Bank’s Global Consumption Database, total household expenditure on FMCG goods reached almost US$240bn in 2010 for a sample of 39 African countries. Household FMCG expenditure was highest in Nigeria (US$41.7bn), followed by Egypt (US$27.6bn), south Africa (US$23bn), Morocco (US$20.1bn) and Ethiopia (US$19.2bn). Other countries with fairly large FMCG markets in an African context include Kenya, DRC, Ghana, Ivory Coast and Tanzania.
Growth Factors in FMCG sector are
- Population density.
- Economic Policies and Legislation.
- Downstream Industries.
- Infrastructure Development.
Anupam knows how the growth factors can help you in
- Domestic market inputs.
- Consumer behaviors.
- To setup a supply chain .
- Product development