Snacks is seeing steady growth in retail volume terms in Côte d’Ivoire in 2023, although elevated inflation has put pressure on prices and on the general cost of living. With a median age of just 19 years there is a large base of young consumers keen to try new snacks which is attracting investment and innovation.
Prices within snacks are rising in 2023 with production and distribution costs being impacted by the global and local political and economic landscape. Nonetheless, the government’s national development plan has ensured that inflation has remained reasonable and it has not reached the extreme levels seen in other markets.
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 has led to many urban mid- to high-income consumers seeing their disposable incomes rise rapidly, with this in turn enabling them to consume their preferred snacks.
Retail e-commerce has seen significant gains since the start of the pandemic. Coupled with digital marketing, e-commerce presents a new frontier for retailers and manufacturers to expand their reach and increase their consumer base.
Since most snacks are imported, ensuring prices remain stable will be key to ensuring brands maintain volume sales. While consumers did not change their consumption patterns much when prices rose during the review period, they cannot absorb price increases indefinitely.
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This report originates from Passport, our Snacks research and analysis database.
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