Beverage News
Food West Africa Brings Investment Boost to Regional Retail Market
Informa Life Sciences Exhibitions, the worlds leading publishing and exhibitions company, has announced that the second edition of the Food West Africa will take place at the Landmark Centre in Lagos, Nigeria from 17 – 19 May 2017. More than 4,500 industry professionals are expected to attend the region’s largest and most prestigious food and beverage industry event that has been relocated to the state of the art Landmark Centre to accommodate the increasing scope of the show.
The 2017 edition of the show is expected to outgrow the launch show by 40%, in terms of attendees, and will showcase exciting new products, services and equipment from more than 160 businesses from around the globe, up from 140 in 2016. The event will span 3,000 sqm of exhibition space and host 25 international country pavilions providing first-class opportunities to meet, network and establish business ties in Africa’s largest economy – Nigeria.
The event returns with a comprehensive backing from the industry’s leading authorities and associations including the Association of Food Vendors in Nigeria (AFVN), the National Agency for Food and Drug (NAFDAC), NASON and Ogbaru Main Market Onitsha. According to Ryan Sanderson, Director, Informa Life Science Group, Africa:
“Their continued support highlights the strength of the retail market in Nigeria, where the growing middle class is estimated to have a combined purchasing power in excess of N8.5 trillion, and the power of platforms such as Food West Africa as a tool for generating trade and strengthening business ties with the local and international retail community.”
According to Euromonitor International, retailing in Nigeria is expected to witness sustained growth in value sales and the changing structure from traditional to modern retailing channels will be major factors supporting this growth.
Their analysts predict that convenience stores, variety stores, supermarkets and hypermarkets are predicted to be amongst the fastest growing channels, due to their offer of comfort, convenience and range, whilst in terms of non-store retailing, internet retailing is expected to post strong value growth, as the number of internet-capable devices increases and as traditional consumption habits begin to give way to a more comfortable mode of shopping.
A new feature for the 2017 edition of Food West Africa is the dedicated ‘Made in Nigeria’ zone specifically designed for local Nigerian companies looking to increase sales and distribution of finished food products.
Some of the Nigerian companies present at the show include FAB Juice, Just Food Limited, Red Bull Nigeria, Ruby Multi Links, Integrated Dairies & Euro Global Foods and Distilleries Limited to name a few.
The event will also host a three-day multi-sector conference that will address the market’s challenges, opportunities and solutions and will present latest modern channels of food distribution in the region, advances in food handling and logistics, updates on safety management, and regulations on importation and exportation.
Regional experts from domestic and international large-scale food companies, governments, local agencies and associations will be represented and will give their insights on improved technologies and advanced measures on how to consolidate and implement better measures in food distribution retail in West Africa.
Source: Life Sciences Exhibitions
