Market Research Report
Africa Food Sweetener Market - Growth, Trends, and Forecast (2018 - 2023)
|Published by||Mordor Intelligence LLP||Product code||389546|
|Published||Content info||100 Pages
Delivery time: 2-3 business days
|Africa Food Sweetener Market - Growth, Trends, and Forecast (2018 - 2023)|
|Published: May 5, 2018||Content info: 100 Pages||
The global food sweetener market is forecasted to grow at a CAGR of 3.38% to reach USD 100 billion by 2023, from an estimated market value of USD 78 billion in 2016. The African sweetener market is projected to grow at a CAGR of 2.65% to reach USD 9 billion by 2023, from an estimated market value of USD 6.8 billion in 2016.
Sugar dictates more than 80% share in this market. The major constraint for the sugar market is the volatility in prices, leading to market fluctuations.
The African sweetener market is segmented into bulk sweeteners and sugar substitutes. The global market for HIS (High Intensity Sweeteners) is expected to reach nearly USD 2 billion in 2022 at a CAGR of 4%. This growth is due to increased awareness and usage of dietary foods. Another major driver is the growing population of overweight, obese, and diabetic patients, resulting in growth in this category. Although presently HIS does not constitute a major share of the market, this is the fastest growing segment due to the rising health concerns among people. Aspartame and sucralose are the most famous sweeteners in the HIS segment. Stevia is also seeing a major demand in the natural sweeteners category in Africa. Saccharin and cyclamate are the lowest cost HIS available, and therefore enjoy wide use in developing regions of Africa. Along with Asia-Pacific and South America, Africa accounted for the bulk of cyclamate consumption. As diet beverages and food become more popular for health-related reasons, cyclamate, as the least expensive HIS, has replaced sucrose or table sugar in these regions.
In the African regions, concerns about health and nutrition are relatively nascent and diet products have less market penetration, due to which food sweeteners are in high demand in this region.
January 2018- Cargill has announced its intent to grow and diversify its product portfolio at its starches and sweeteners plant in Krefeld (Germany) with products such as vegetable wheat protein, specialized industrial wheat starches, and advanced bio-fuel.
July 2017- Cargill announced the launch of EverSweet, a new stevia product that combines Reb M and Reb D, for US confectionery makers in the year 2018.
Major players - ARCHER DANIELS MIDLAND (ADM), AUSTRALIAN STEVIA MILLS, ASSOCIATED BRITISH FOODS, A&Z FOOD ADDITIVES CO. LTD., CARGILL INC., CORBION PURAC, CELANESE CORPORATION, CORN PRODUCTS INTERNATIONAL, DANISCO, DSM, FRAKEN BIOCHEM, JK SUCRALOSE INC., STEVIA FIRST CORPORATION, among others.
Reasons to Purchase this Report
Analyzing outlook of the market with the recent trends and Porters five forces analysis
Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
Market segmentation analysis, including qualitative & quantitative research incorporating the impact of economic & 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
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