Regardless of boasting a inhabitants of 1.2 billion, the continent of Africa has seen restricted development when it comes to its pet meals market. Businesswire, in its newest report on pet meals in Africa, famous the continent may count on a compound annual development price (CAGR) of three% for the 2022-2027 interval, which is much decrease than projections for different areas in related experiences. The report additional emphasised that three nations in Africa will maintain 70% of the continent’s market share: South Africa, Egypt and Nigeria.
Africa is a web importer of pet meals
A take a look at the continent’s commerce statistics reveals that few nations in Africa are energetic within the pet meals sphere. The continent stays a web importer of pet meals, with few exporting choices. Within the 10-year interval between 2012 and 2021, imports throughout all of Africa rose from US$101.6 million to US$200.2 million, a 97% enhance.
The lion’s share of these imports comes from South Africa. In 2012, South Africa accounted for 46.1% (US$49.8 million) of all pet meals imports, however that quantity did fall to 31.5% (US$63.1 million) by 2021, as different nations have elevated their pet meals import demand.
Behind South Africa, Morocco has seen stellar development in its imports of pet meals over the previous decade, rising from 4.4% (US$4.4 million) of the imports market share in 2012 to 17.3% (US$34.8 million) in 2021. In third place is Egypt, which has gone from 5.5% (US$5.6 million) in 2012 to 7.8% (US$ 15.7 million) within the pet meals imports market share.
Mixed, these three nations accounted for 56.6% of the full pet meals imports market share in Africa. For additional reference, in 2021 the highest 5 importing nations in Africa, additionally together with Namibia and Angola, comprised 65.9% of the continent’s pet meals imports market share.
South Africa solely web exporter of pet meals in Africa
On the export facet, solely South Africa stands out, with 94.4% of the pet meals exports market share in Africa. South Africa has seen its pet meals exports rise by 108.8% from 2012 (US$30.6 million) to 2021 (US$ 63.9 million). Primarily, South African pet meals exports head to India, Namibia and Malaysia, which account for 54.5% of the South African exports market share.
The extremely developed pet meals market of South Africa was value US$500.6 million in 2021, with a five-year CAGR of three.6%, per Analysis Markets.
Sipra is a researcher and author. He writes and opinions local weather, setting, enterprise and administration articles for tutorial and business publications, reminiscent of GreenBiz.
