Solid sales growth in snacks during 2022 was due in large part to the improving economic situation in Angola as the buoyant global oil price and rising exchange value of the kwanza against benchmark global currencies made many products more affordable, especially imported brands. In addition, the robust expansion of local manufacturing due to government incentives and improving trading conditions made a wide range of savoury snacks such as potato chips available at even more affordable prices.
2022 saw snacks register positive value growth in constant terms for the first time since the onset of the COVID-19 pandemic. After all categories recorded falling demand in 2020, volume growth rebounded strongly in savoury snacks and sweet biscuits, snack bars and fruit snacks in 2021, while ice cream had yet to return to pre-COVID-19 levels of volume sales at the start of 2022 and confectionery had continued to record negatively growth throughout 2021.
Angolan consumers tend to love snacks and per capita consumption of snacks remains fairly high. While certain categories of snacks are less popular than others, this is largely due to higher prices, although local preferences to play a role in determining the relative popularity of specific categories of snacks.
Many Angolan consumers continue to struggle to make ends meet as a result of the adverse economic and that of the COVID-19 pandemic. The pandemic interrupted commercial activity in key sectors of the Angolan economy, and many businesses have closed, especially small and medium-sized enterprises.
A lot of the country’s infrastructure was damaged during the country’s long and protracted civil war, although much of it has by now been repaired. Retailing and distribution infrastructure is particularly well developed in Luanda and its surrounding region.
The forecast period is set to see positive sales growth in retail volume and constant value terms across all categories of snacks, although growth rates are set to be merely moderate, with savoury snacks and sweet biscuits set to be the best performers. Sales growth is set to be supported mainly by population growth and urbanisation and the post-pandemic economic rebound, fuelled by rising global oil prices.
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Understand the latest market trends and future growth opportunities for the Snacks industry in Angola with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
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This report originates from Passport, our Snacks research and analysis database.
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