Food & Drink - Northern Africa

Northern Africa

The Food & Drink market in Northern Africa is expected to see significant growth in the coming years.
According to projections, the total revenue in this market is set to reach €0.78m in 2022.
This represents a substantial increase compared to previous years.
Furthermore, the market is expected to continue growing at an annual rate of 13.21% from 2022 to 2027.
This growth trajectory is projected to result in a market volume of €1.48m by 2027.
When examining the different revenue streams within the Food & Drink market, it is interesting to note the following projections.
In-app purchase (IAP) revenue is estimated to reach €164.70k in 2022, indicating a strong demand for in-app purchases in this sector.
On the other hand, paid app revenue is expected to reach €0.00k in 2022, suggesting a shift towards free or freemium models within the industry.
Advertising revenue, however, is projected to reach €616.70k in 2022, indicating the increasing importance of advertisements as a source of income in this market.
In terms of downloads, the number is projected to reach 88.31k downloads in 2022.
This indicates a significant user base and a high level of engagement within the Food & Drink market.
Currently, the average revenue per download is expected to amount to €8.85, highlighting the profitability of each individual download.
When comparing the revenue generated in the Food & Drink market globally, it is worth noting that in the United States leads the way with a projected revenue of €746.40m in 2022.
This demonstrates in the United States's dominance in the industry and its ability to generate substantial revenue within this market segment.

Key regions: United States, India, South Korea, Japan, Asia

Marché

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Comparaison de régions

Monnaie

Analyst Opinion

Since the start of Apple, Inc.'s App Store in 2008 with around 500 apps, mobile apps have come to dominate the digital economy and have quickly outpaced the demand for desktop applications. As of 2021, the Apple App Store and Google Play Store had more than 5 million apps combined. Because many apps from the West are not available in China, many new app stores have emerged there. Digital lifestyles around the world now depend on adopting mobile apps, especially when it comes to social networking. The games industry has also been thoroughly transformed by the app revolution and is demonstrated by the fact that the games category is the largest and highest-grossing app category.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on revenue from in-app purchases, revenue from the purchase of apps, and revenue from advertising, as well as the number of downloads for each app category.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use market data from independent databases and third-party sources, current trends, and reported performance indicators of top market players. In addition, we use relevant key market indicators and data from country-specific associations, such as smartphone users and mobile broadband connections. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP/capita, level of digitization, and consumer attitudes toward apps.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year in case market dynamics change.