From 2013 to 2023, the Food and Beverages Value Added in South Africa’s total manufacturing sector showed a slow but steady increase, particularly from 2019 onwards. Between 2013 and 2018, the values remained constant at 22.18 units before rising incrementally each year to reach 23.16 in 2023. The year-on-year growth rate improved progressively starting from 2019, with a Compound Annual Growth Rate (CAGR) of 0.87% over the last 5 years from 2018 to 2023.

Data for the upcoming years from 2024 to 2028 indicates a continued, albeit modest, growth trend. The 5-year forecast CAGR is projected to be 0.53%, with an overall growth rate of 2.7% by 2028.

Future trends to watch for:

Potential shifts in consumer preferences and dietary trends impacting product demand.
Economic developments, both domestic and global, influencing the investment climate in the food and beverages sector.
Technological advancements in food production and processing that could enhance efficiency and output.