Opportunities in Africa’s booming meat industry
Meat consumption in Africa is growing rapidly. This offers attractive opportunities for investors. According to the United Nations Food and Agriculture Organisation (FAO), opportunities for investment are likely to prove more attractive in Africa than other global regions.
The United Nations Food and Agriculture Organisation (FAO) estimates that the consumption of beef on the continent will increase 200% between 2015 and 2050, while poultry consumption will grow by 211% and pork by 200%.
Given the immense opportunities of the continent’s food needs, local and foreign agriculture investors are showing their interest. Future investments are required across the value chain in poultry and pork facilities, abattoirs, feed production, transport and equipment supply.
According to an extensive report by AfricanBusinessMagazine, Africa’s poultry population is expected to increase by 241% by 2050, while the number of pigs is expected to increase by 184%. By contrast, the cattle population is expected to grow by 111% and the sheep population by 92%.
“The projections say that Africa will be increasingly self-sufficient in milk and poultry. Right now perhaps 35% of milk and poultry are imported, and in the future it will be 20% or less. This is not really the case for beef because there are water and land constraints,” says Ugo Pica-Ciamarra, livestock economist at the FAO.
Further reading on africanbusinessmagazine.com