Africa offers unmatched growth opportunities for manufacturers and service providers in consumer-facing sectors, as a large and young population and growing middle class adopt new consumption habits and different lifestyles. This report provides a comprehensive analysis of the changing consumer market landscape across 50 countries in Africa and how consumer lifestyles are changing, and will continue to shape the future of the retail and consumer market in the future.
Reasons to buy
Access complete, comparable and accurate data on changing consumer demographics and lifestyles for 50 countries across Africa
Understand where the largest, highest growth, and most accessible consumer markets are, and how their market attractiveness will change in the future
Identify how consumer lifestyles will develop, what this means for the consumer class in Africa and how it impacts on future opportunities
By 2050, more than half – 28 – countries will have populations greater than 25m people. In more than half the countries we cover, the majority of consumers are under twenty years old. This pattern will barely change in the next ten years.
The number of households across Africa will more than double and likely be nearer to 2.5 to 3 times as many by 2050. The explosion of households will create explosive demand for more housing, household durables, infrastructure and services – and also drive growing consumer fragmentation of behaviors and attitudes
The size of the consumer class is grossly underestimated – by income it remains small, but looking at asset ownership reveals a picture of a much large consumer class, that in some countries doubles or trebles in size relative to traditional income-based measures.
Key questions answered
What is the size of the emerging consumer class?
How is the retail market developing and which countries are the most attractive?
How will consumer lifestyle trends shape African markets in the future?