The trends in the consumption of animal-sourced foods and livestock by-products are key indicators of opportunities for investment. Consumption of meat, milk, and other livestock by-products are increasing opportunities and incentives for investment will be followed, including business opportunities for producers.
African’s are expected to be consuming 83 million tons of milk by 2050. Beef and Poultry were Africa’s most consumed meat, followed by mutton and pork. By 2050 consumption of both types of meat is estimated to increase to 13.5 million tons and that of poultry 11.8 million tons. In 2050, the egg, pork, and mutton (I.e., sheep and goat meat) markets will be about 6.1, 3.5 and 5.9 million tons, respectively. Consumption of all livestock products anticipated to grow rapidly in the coming decades, with the annual growth rates estimated at 2.2 percent per year in the case of milk to 3.3 percent for poultry and pork.
These conditions seem to be conducive to a livestock revolution. As researches indicate, at the continental level, Africa producers are projected to be unable to satisfy the growing demand for livestock products. Hence, the livestock sector, together with poultry, is the most promising and needs much attention.
ALEC has proved to be the primary and significant event for the livestock sector development in East Africa sub-region and mainly Africa’s most considerable livestock populated country of Ethiopia. For companies that desire to penetrate this vast livestock populated market and fastest-growing Ethiopian economy, which also has the 2nd largest human population in the continent with more than 109 million inhabitants, this event will be a crucial platform to boost company profile or brand image and generate leads among the influential decision-makers and business owners in the sector.