Market Size of Africa Food Hydrocolloids Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.14 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Africa Food Hydrocolloids Market Analysis
Africa Food Hydrocolloids Market is projected to grow at a CAGR of 4.14% during the forecast period (2020-205).
- The increase in consumer preference for convenience foods indirectly contributes to the growing demand for hydrocolloids required as stabilizers, binding agents and thickening agents in convenience food products. The processed food market is driven by the greater need for convenience due to the busy lifestyles of consumers. This, in turn, increases the demand for hydrocolloids.
- In African countries like Nigeria the food and beverage market remains viable for investment in spite of the challenges of high energy cost and volatile raw material prices. Thus, driving the food ingredients market including hydrocolloids.
