According to the latest report by IMARC Group, titled “West Africa Food Services Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027”, the West Africa food services market reached a value of US$ 4.9 Billion in 2021. Looking forward, IMARC Group expects the market is anticipated to grow at a CAGR of 8.80% during 2022-2027. Food services refer to the businesses that include preparing, serving and delivering food items to the customers. These services are generally found deployed across financial institutions, hospitals and restaurants outlets. They are categorized into conventional and centralized systems, wherein the conventional system involves the preparation and serving of food items on the same premises. On the other hand, food items are prepared in bulk, which are later transported to the kitchens at multiple locations in the centralized system. Continual improvements in the distribution channels across West Africa are positively impacting the food services market in the region.
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West Africa Food Services Market Trends:
The market in West Africa is primarily driven by the changing dietary patterns of the masses. Coupled with the shifting lifestyle preferences of individuals and the busy lifestyles and hectic schedules led by working professionals, there has been a considerable rise in the demand for food services. In line with this, inflating disposable income level of individuals and the rising popularity of international cuisines is creating a positive outlook for the market. Furthermore, the proliferation of restaurants chains and café outlets across the region is also acting as a major growth-inducing factor. Additionally, continuous technological advancements, including the launch of online food ordering apps, are providing an impetus to the market growth. Also, the penetration of high-speed internet connectivity across the region and the increasing adoption of smartphones are providing a boost to the market growth. Apart from this, increasing investments by key players for developing robust marketing strategies and promotional campaigns are positively influencing the market growth. Other factors, including rapid urbanization and continuous improvements across the food and beverages and travel and tourism sectors, are further contributing to the market growth across West Africa.
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West Africa Food Services Market 2022-2027 Analysis and Segmentation:
Market Breakup by Distribution Channel:
- Retail Modes
- Online
Market Breakup by End-Use:
- Commercial
- Non-Commercial
Market Breakup by Retail Type
- Eat-in
- Take away
Market Breakup by Segments:
- Consumers
- Full-Service Restaurants
- Fast-food
- Street Kiosks/Stalls
- Cafes and Bars
Market Breakup by Country:
- Nigeria
- Ghana
- Cote d’ Ivoire
- Senegal
- Others.
Competitive Landscape:
The competitive landscape of the market has been examined in the report and the profiles of key players have also been provided.
Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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