South Africa Foodservice Market to 2028

South Africa Foodservice Market to 2028

Summary

“South Africa - The Future of Foodservice to 2028” published by GlobalData provides extensive insight and analysis of the South African Foodservice market over the next five years (2023-28) and acts as a vital point of reference for operators or suppliers.

In 2023, South Africa recorded annual nominal GDP per capita growth of 4.4%, a drop from the 5.9% growth recorded in 2022. The South African profit sector’s revenue reached ZAR585.1 billion ($35 billion) in 2023, yielding a moderate compound annual growth rate (CAGR) of 3.3% from 2018-23. Despite the unfavorable economic conditions, the sector's transactions grew at CAGR of 2.9%, indicating a steady increase in customer activity. On the other hand, the outlet count experienced a modest CAGR of 0.7%, suggesting that the sector did not expand its physical presence significantly.

The report includes -

• Overview of South Africa's macro-economic landscape: Detailed analysis of current macro-economic factors and their impact on the South African foodservice market including GDP per capita, consumer price index, population growth, and annual household income distribution.
• Growth dynamics: In-depth data and forecasts of key channels (QSR, FSR, coffee & tea shop, and pub, club & bar) within the South African foodservice market, including the value of the market, number of transactions, number of outlets and average transaction price.
• Customer segmentation: Identify the most important demographic groups, buying habits, and motivations that drive out-of-home meal occasions among segments of the South African population.
• Key players: Overview of market leaders within the four major channels including business descriptions and number of outlets.

Scope

QSR was the largest channel in the South African profit sector in 2023, holding a value share of 60.5%. The channel’s sales increased at a CAGR of 6.4% during 2018-23, from ZAR260.1 billion ($19.6 billion) to ZAR354.3 billion ($21.2 billion). FSR was the third-largest channel in the South African profit sector in 2023, holding a value share of 5.6%. The channel’s sales recorded a CAGR of 2% during 2018-23, increasing from ZAR29.5 billion ($2.2 billion) in 2018 to ZAR32.6 billion ($1.9 billion) in 2023. The South African coffee & tea shop channel generated value sales of ZAR3.6 billion ($0.2 billion) in 2023. Moreover, the channel recorded a value CAGR of 0.1% during 2018-23. Pub, club & bar was the second-largest channel in the profit sector in 2023, accounting for 26% of the sector’s value sales. However, the channel’s value sales declined at a negative CAGR of 1.3% during 2018-23.

Reasons to Buy

• Specific forecasts of the foodservice market over the next five years (2023-28) will give readers the ability to make informed business decisions through identifying emerging/declining markets.
• Consumer segmentation detailing the desires of known consumers among all major foodservice channels (QSR, FSR, coffee & tea shop, and pub, club & bar) will allow readers understand the wants and needs of their target demographics.