The ongoing Kenyan Food Event Expo in Nairobi has brought together over 50 companies that are urging the hospitality industry to embrace innovation and technology as a means to drive growth and enhance customer experience in the food and beverage sector.
The expo, which is an annual celebration of Kenya’s diverse and vibrant food scene, offers a unique platform for food enthusiasts, industry professionals, and renowned chefs to connect, learn, and share their passion for food. The event features an array of activities, including cooking demonstrations, food tastings, and cultural displays, showcasing the richness of Kenya’s culinary landscape.
Angela Kinyua, Managing Director of Montgomery Group East Africa, the organizers of the event, expressed her enthusiasm about hosting the Kenyan Food Event.
“We are thrilled to provide a platform that showcases the incredible culinary talent and diversity that East Africa has to offer,” she said. “This event is not just a celebration of our food culture but also a testament to the passion and creativity of our chefs and food producers.”
Kinyua emphasized the critical role of innovation in meeting the evolving demands of the market and increasing revenue for industry players. While Kenya has seen a steady growth in the number of restaurants since the pandemic, she noted that the industry must leverage technology to achieve significant advancement.
“Kenya has over 3,800 restaurants as of January this year, and while this number has grown with the return to normalcy post-pandemic, it has plateaued compared to 2019 levels. The only way to ensure continued growth is through the adoption of innovative technologies,” Kinyua added.
The expo highlighted the promising future of Kenya’s food and beverage industry, with projections indicating that food production in the country could reach $13 billion by 2026, while beverage sales are expected to hit $3.5 billion. Additionally, the restaurant delivery market is poised for significant growth, with a projected compound annual growth rate (CAGR) of 9.44 percent from 2024 to 2028.
According to the Economic Survey of 2024 by the Kenya National Bureau of Statistics (KNBS), the hospitality industry remains one of the top three revenue earners in the country. The accommodation and food services sector grew by 26 percent in the third quarter of 2023, a substantial increase compared to the previous year.
Kenya’s beverage sales are also on the rise, with an expected growth rate of 2.4% annually. In 2024, revenue from alcoholic drinks at home is projected to reach $3.35 billion, with an annual growth rate of 8.03% from 2024 to 2028. Meanwhile, non-alcoholic drinks are expected to generate $5.39 billion in revenue, growing at a rate of 9.43% annually during the same period.
The restaurant delivery market in Kenya is another area set for growth, with expected revenue of $296.20 million by 2024. With a CAGR of 9.44 percent, the market is projected to reach $424.90 million by 2028.
As the Kenyan Food Event Expo continues, industry leaders remain optimistic that embracing innovation and technology will unlock new opportunities, ensuring that Kenya’s food and beverage sector remains competitive and continues to thrive.
The Kenyan Food Event (KFE) is the largest B2B exhibition serving the food and drink industry across East Africa. The third edition of the event is taking place from September 3-5, 2024, at the Sarit Centre in Nairobi, Kenya. Organized by Montgomery Group East Africa, KFE provides a crucial platform for industry professionals to connect with new suppliers, producers, and service providers, explore industry opportunities, and network with key market leaders.