South Africa Foodservice Market to 2028

“South Africa - The Future of Foodservice to 2028” 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.