Snacks is seeing steady growth in retail volume terms in Côte d’Ivoire in 2024, despite the fact that elevated inflation has put pressure on prices and on the general cost of living. As such, consumers remain highly price sensitive, which is favouring low cost brands.
The economy in Côte d’Ivoire continues to witness growing inflation, which is eroding the purchasing power of lower-and-middle income consumers and is limiting expenditure on snacks, threatening levels of consumption. Inflation and rising food costs are also impacting suppliers.
Côte d’Ivoire is one of the largest economies in West Africa, with a promising growth outlook and favourable demographic prospects. Economic growth is expected to continue following a robust recovery from the COVID-19 pandemic.
Sustained robust economic growth over a period of many years led to an increase among many urban mid- to high-income consumers in disposable incomes, with this in turn enabling them to consume their preferred snacks. However, following the outbreak of COVID-19 many workers had to take pay cuts while the unemployment rate reached double figures in 2020 and 2021.
Open markets remains the most popular distribution channel for packaged food. This is by far the most traditional retail channel, and many people have strong cultural ties to open markets.
Sales of snacks will continue to develop in Côte d’Ivoire with the market expected to enter a phase of steady growth over the forecast period. However, the economic performance of the country and inflation rates will remain important to the future development of snacks as local consumers are price sensitive.
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This report originates from Passport, our Snacks research and analysis database.
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