Market Research Report
South Africa Food Preservatives Market - Growth, Trends, Forecast (2020-2025)
|Published by||Mordor Intelligence Pvt Ltd||Product code||389524|
|Published||Content info||90 Pages
Delivery time: 2-3 business days
|South Africa Food Preservatives Market - Growth, Trends, Forecast (2020-2025)|
|Published: June 1, 2020||Content info: 90 Pages||
South Africa's food preservatives market is projected to grow, witnessing a CAGR of 3.52% during the forecast period (2020 - 2025).
Increasing Consumer Inclination Toward Natural and Clean-label Products
The current market scenario describes the drive toward 'natural', clean label foodstuffs, that has become the single most important issue impacting the preservatives/antioxidants category. This has resulted in a threat to the traditional chemical preservatives from natural alternatives, such as rosemary extract, and others. Organic acids, such as sorbic and benzoic, have been widely used in the past. The availability of these acids in fruits, i.e., natural availability, has paved the way for clean label preservatives in the market.
Furthermore, producers have supported innovation and product launches by using organic acids such as sorbic and benzoic acids, as a natural clean labeled preservative, which is further fueling the market growth across the country. As a result of this trend, the demand for natural preservatives is expected to increase and therefore, in turn, will provide significant growth opportunities for players operating in the food and beverage industry across South Africa.
Significant Applications in Meat, Poultry, and Seafood Industry
Leading food ingredient companies manufacturing food preservatives are eyeing meat, poultry, and seafood industry as a lucrative segment to grow. The growth of the meat, poultry, and seafood segment is driven by the continuous innovative preservation solutions which also includes natural-based preservative additives. For instance, ingredients that Corbion uses with vinegar for preserving meat products include jasmine tea extract, which is an antioxidant, and citrus powder, which prevents moisture migration out of the product.
Moreover, the growing market size for processed and preserved industry products in South Africa is determining the food preservatives market to grow in the forecast period.
A few of the leading players in the South Africa food preservatives market include global players such as Corbion N.V., Kerry Group, Koninklijke DSM N.V., etc., and domestic players such as Crown National, Protea Chemicals, Cape Food Ingredients, and others. The key strategies used by companies include an increase in research and development expenditure to innovate products under the natural preservatives segment to meet the growing consumer preference.