Agricultural marketing determines the extent of smallholder farmers’ commercialisation. However, this requires effective agricultural markets. Evaluating these markets and their interaction with smallholder farmers is vital in harnessing the potential of the rural farming sector. This chapter evaluates formal and informal agricultural markets, highlighting opportunities for smallholder agriculture. Drawing from a review of primary and secondary literature available in both grey and academic formats, the chapter shows that smallholder producers’ interaction with formal markets is limited by a lack of knowledge and resources, poor safety and quality standards, and inconsistency in supply. However, they can benefit from opportunities in the formal markets through effective collective action arrangements. Informal markets are critical to smallholders’ access to markets, and with legislation that seeks to address infrastructure, safety, and quality standards, they can be a conduit for small producers’ access to formal markets. Some informality still exists in the supply chain of formal markets. Thus, informal markets remain important in agricultural marketing in Africa.