The fast-moving consumer goods (FMCG) sector, also called the consumer-packaged goods (CPG) sector, is that it generally does well in an economic sector and is one of the largest industries worldwide. The consumer goods market comprises a wide range of industries whose products are for personal use or consumption.
The market consists of nine (9) parts, namely food, beverages, tobacco products, wearing apparel, leather and related products, media products, electronic products and components, electrical equipment, and furniture. The market comprises value added, output, number of enterprises, number of employees, and the respective growth rates. Output refers to the total value of all goods produced, whereas value added is the sum of the intermediate stages of production or, in other words, the wealth created by industry activity. The market only displays B2B production.
Today, Africa’s consumer market is growing. Over the past twenty years, household spending in Sub-Saharan Africa has grown 150% faster than the population. Landry Signé at the Brookings Institution forecasts that total household consumption in Africa will reach $2.1 trillion by 2025 and 2.5 trillion by 2030. African companies such as Azam and Bidco now include dozens of consumer brands sold across the continent. Large multinationals such as Kraft Foods, Johnson & Johnson, and Volkswagen have ramped up their presence on the continent to meet this growing demand.
