africa-soy-protein-ingredients-market
Published

APR 2018

Africa Soy Protein Ingredients Market - Growth, Trends and Forecasts (2018 - 2023)

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Market Insights

The Africa soy protein ingredients market is estimated to register a CAGR of 7.6% during the forecast period (2018 – 2023). There is a substantial demand for healthy diet amidst growing incidences of chronic disease in Africa, this has also given considerable push for soy protein ingredients. The increasing standards of living coupled with growing awareness regarding the safety and health aspects of animal-based proteins have prompted consumers to turn their attention towards meat substitutes.

Market Dynamics

The trend of health and wellness that has been spanning across the globe can be witnessed in Africa as well. The continent of Africa is characterized by a huge low-income population for whom quality protein, analogous to meat, is highly desirable, which otherwise is limited to specific occasions. Patients infected with HIV, which is widespread in the African continent, require twice the amount of protein intake compared to the uninfected individuals to help them cope and live longer. Additionally, the region has a vast population that is lactose intolerant, which presents a potential of a huge consumer base. The soy protein ingredient market in Africa is anticipated to have slow growth in this region due to lack of awareness. However, ongoing celebrity endorsements and awareness programs initiated by various soy associations are anticipated to up the ante. The soy protein ingredient market also faces challenges from other available protein options in the market.

Market Segmentation

The Africa soy protein ingredients market is segmented based on type, application and country. The Africa soy protein ingredients is expected to have robust growth with demand majorly coming from South Africa. The meat alternatives segment accounts for major share followed by bakery applications. Soy ingredients are increasingly used by the supplement industry, in capsules and tablets, as well as by the functional foods industry for manufacturing bars, bread, breakfast cereals, dairy products, and beverages.  In Africa, South Africa is the largest market for soy protein. Growing population, increased levels of awareness and disposable income have made this region an area of immense potential and opportunities.

                                            

Key Developments

  • Feb 2018 - Archer Daniels Midland Company and Cargill have reached agreement to launch a joint venture to provide soybean meal and oil for customers in Egypt
  • March 2018 - Herbalife Nutrition, a global nutritional company, announced the launch of Strawberry flavour variant of Formula 1 Nutritional shake mix which is specifically formulated with best quality soy protein isolate, as a nutritional food product for dietary use

Competitive Landscape

The major players in Africa soy protein ingredients market include - AFGRI, ADM, Cargill, CHS, DuPont, Futurelite, Kerry, Sojaprotein, ProSoy, and Wilmar.

Reasons to Purchase this Report

  • Analyzing outlook of the market with the recent trends and Porter’s five forces analysis
  • Market dynamics, which essentially consider the factors that are impelling the present market scenario, along with growth opportunities of the market in the years to come
  • Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
  • Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
  • Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • 3-month analyst support, along with the Market Estimate sheet in excel

Customization of the Report

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