Mark Lotsch, managing director for ingredient company Wild GmbH, is aware of the economic opportunity waiting to be tapped in Africa. As a result of a predominantly young population, rising incomes across the region, and an increasing national self-confidence, Africa is primed to be a huge target market for the food and beverage industry.
Lotsch highlights the potential market for alcohol-free malted beverages by pointing out that the alcohol allowance of 0.5% typically allowed in alcohol-free beers in Europe is not possible in largely Muslim populations. Currently, there are no similar products with 0.0% alcohol content, so the manufacturer that can capture that market will presumably do very well in Africa.
Wild GmbH is not the only company to notice Africa’s growing middle class and demand for product. A press release for Africa’s Big Seven (AB7), the continent’s leading food and beverage trade industry event, claims that Africa’s emerging middle class will be the largest trade opportunity for the world’s food and beverage industry over the next two decades.
AB7 is once again partnering with the Southern African International Trade Exhibition for Retail Products (SAITEX) to bring together manufacturers, exporters, importers, agents, distributors and wholesalers facilitate international trade to Africa. The 2013 exhibition will take place June 30 – July 2 in Midrand, South Africa. It is expected to exceed the 15,253 visitors that attended last year’s event, solidifying its reputation as the biggest business opportunities show in Africa. For food and beverage manufacturers looking to break into African markets, this event is definitely one worth attending.
– Dana Johnson
Source: How We Made It in Africa, FoodNavigator
Photo: Marketing Week