Notice: Global Information Announces Listing on JASDAQ Standard Market of the Tokyo Stock Exchange

Cover Image
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
Price
Back to Top
South Africa Food Preservatives Market - Growth, Trends, Forecast (2020-2025)
Published: June 1, 2020 Content info: 90 Pages
Description

South Africa's food preservatives market is projected to grow, witnessing a CAGR of 3.52% during the forecast period (2020 - 2025).

  • The preservatives market in South Africa is largely driven by demand for convenience and packaged foods by the burgeoning population and rising urbanization rates.
  • Thee increase in the formal retail segment is driving the market for processed foods in the Sub Saharan region, thus driving the food preservatives market in the country. Furthermore, the supply chain complexity and low infrastructure in Africa are seen by manufacturers estimating a huge potential for the preservatives market to meet the food security and safety of the region, including South Africa.
  • The major constraint is the increased awareness of the ill effects of synthetic ingredients and growing consumer demand for fresh and natural foods. Companies are seeing this as an opportunity to innovate and provide solutions in the form of natural and functional ingredients.

Key Market Trends

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.

Competitive Landscape

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.

Reasons to Purchase this report:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support
Table of Contents
Product Code: 54776

Table of Contents

1 INTRODUCTION

  • 1.1 Study Deliverables and Study Assumptions
  • 1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

  • 4.1 Market Drivers
  • 4.2 Market Restraints
  • 4.3 Porter's Five Forces Analysis
    • 4.3.1 Threat of New Entrants
    • 4.3.2 Bargaining Power of Buyers/Consumers
    • 4.3.3 Bargaining Power of Suppliers
    • 4.3.4 Threat of Substitute Products
    • 4.3.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION

  • 5.1 By Type
    • 5.1.1 Natural
    • 5.1.2 Synthetic
  • 5.2 By Application
    • 5.2.1 Beverage
    • 5.2.2 Dairy & Frozen Product
    • 5.2.3 Bakery
    • 5.2.4 Meat, Poultry & Seafood
    • 5.2.5 Confectionery
    • 5.2.6 Sauces and Salad Mixes
    • 5.2.7 Others

6 COMPETITIVE LANDSCAPE

  • 6.1 Most Adopted Strategies
  • 6.2 Market Position Analysis
  • 6.3 Company Profiles
    • 6.3.1 Corbion N.V.
    • 6.3.2 Kerry Group plc
    • 6.3.3 Koninklijke DSM N.V.
    • 6.3.4 Crown National
    • 6.3.5 Protea Chemicals
    • 6.3.6 Prime Pharma
    • 6.3.7 Cape Food Ingredients
    • 6.3.8 Kayo Fine Chemicals
    • 6.3.9 Jungbunzlauer Ag

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

Back to Top