The Vinexpo Study: Africa represents a serious opportunity for long-term growth
Many analysts will confirm that Africa is a great opportunity for mid- and long-term investments. Different factors such as better internal organization, rapid urbanization or growing middle class, make the continent attractive for those seeking growth.
In terms of the wine market, the Vinexpo Study outlines a few aspects
- The consumption is increasing: To obtain and validate solid information is still a challenge as the business environment is still very often informal and complicated. However, analysts expect the consumer spending in Africa to reach 1,4 trillion dollars by 2020.
- Wine consumption grows five times faster than the average world consumption: Between 2009 and 2013, the consumption rose by 17,3% to reach 864 million bottles. The study predicts another solid increase by 2018, which would translate in an increase of consumption of 33% in ten years (in comparison to a world average annual growth rate of 5,9%).
- Red and White are leading: Looking at the segmentation red/white/rosé, both red and white wines see their consumption rise. In 2013, the African consumption reached:
- 31,8 million 9-litre cases of white wines
- 32 million 9-litre cases of red wines
- Rosé wine are way behind with 1.7 million 9-litre cases
About IWSR, www.theiwsr.com
About Vinexpo, www.vinexpo.com