16.3 Sectors in South Africa’s Bioeconomy
Agricultural Sector
In South Africa, formal employment rate is low at 5%, and it is going down. The farming sector does not hire many permanent workers, mostly relying on casual labor. It makes up about 2.6% of the countries moneymaking. Only a small part of the land, around 13.5%, is good for growing crops because most of it is very dry. The country is quite advanced economically and has many different industries. Its home to around 60 million people and is a great place for businesses because it has a growing market and is friendly to businesses. In addition, it is a good entry point to other countries in southern Africa. The farming in South Africa is really varied. They grow lots of stuff like grains, fruits, sugar, and veggies. They also raise animals like cattle, hogs, sheep, and make lots of eggs and poultry. They do not just grow things; they also process food like meat, fruits, and vegetables. In 2021, farming made up about 10% of what South Africa earned by selling stuff to other countries, making about $12.0 billion. They sold things like fruits, wine, corn, apples, and wool. However, they also bought stuff from other countries, spending about $7.2 billion, mostly on things like rice, palm oil, and wheat. The United States is one of the countries that sells stuff to South Africa, bringing in about $318 million worth of agricultural goods in 2021. The U.S. helps by sharing a lot of information about markets and rules for selling agricultural things to South Africa. If U.S. companies want to get into the South African market, they can use resources like the Exporter Guide for South Africa.
Food and Beverages Sector In 2023, the Food market records a revenue of US$29.08 billion, with an anticipated annual growth rate of 7.30%.The largest segment within this market is Confectionery & Snacks, accounting for a market volume of US$6.15 billion in 2023. Globally, China leads in revenue generation, reaching US$1,493 billion in 2023. When considering the per capita perspective, each person is expected to contribute US$473.10 to the Food market revenue in 2023. Online sales are projected to constitute 1.7% of the total market revenue by 2023. Looking at volume metrics, the Food market is forecasted to reach 9.14 billion kg by 2028, experiencing a 3.1% growth in 2024. On an individual basis, the average volume per person in the Food market is projected to be 127.50 kg in 2023.