Africa Food Preservatives Market - Trends, Growth, and Forecast (2018 - 2023)
The Africa food preservative market was valued at USD 152.0 million in 2017, and is expected to register a CAGR of 2.3%, during the forecast period (2018 - 2023). Food preservatives are a growing segment in the food additives market, as they are extensively used for preventing spoilage and decomposition.
Growing Processed Food Market Accentuating the Market for Preservatives
Food preservatives manufacturers are seeing an increased demand from food manufacturers to preserve freshness, safety, taste, appearance, and texture of processed foods. The growing market for processed food compliments the growth of the food preservative market in Africa. The changing lifestyle of people has also impacted their food habits. Consumers prefer convenience food, as it has high flavor profile and shelf life. In developed countries, like the United States, processed food accounts for about 50% of the daily diet. Consumers in developing countries, like India and China, are also likely to follow a similar diet in the near future. The growing market for processed food acts as a prominent driver for the food preservative market. A large number of processed food manufacturers are aiming to shift from synthetic to natural additives in their products to cater to the needs of the health conscious consumer. Thus, the natural preservative segment is expected to see high growth in the near future.
Over time, preservatives have become necessary additives in most food products, as they provide benefits, like extending the longevity of products and helping in keeping them free from bacteria. The growing trend of having a healthy lifestyle has led to an increase in demand for food that contain natural ingredients, such as natural food preservatives in Africa. Natural preservatives account for about 17% of the total share of Africa food preservative market. A majority of natural preservatives in use now, are antioxidants that are found in a majority of fruits and vegetables. These compounds act as free radical scavengers and bacterial growth inhibitors.
South Africa Dominates the Food Preservative Market
The African region, which accounts for around 5% share in the global preservative market, is a growing food industry; this has resulted in the growing demand for food preservates. South Africa accounts for the largest market share in the region, with more than 40% of the market, and is expected to register the highest CAGR during the forecast period. This industry is predominantly dominated by a few national and multinational food manufacturers, who have established market shares and control both production capacity and sales in most food ingredients categories, such as food preservatives.
October 2017 - Cargill expanded its food starch line-up in 'clean label' push.
December 2017 - Cargill, the US agri-food business, joined forces with Techstars, a network for entrepreneurs, and water-to-energy services provider Ecolab to work on "some of the industry's biggest challenges, including food security and food safety".
The major players include - CARGILL INC, KERRY GROUP, CORBION PURAC, ROYAL DSM, JUNGBUNZLAUER AG, BRENNTAG INC., DUPONT, CELANESE CORP, CHR HANSEN, ARCHER DANIEL MIDLAND, BASF SE, AKZO NOBEL, ALBEMARLE CORPORATION, JEY'S F.I. INC, COGNIS, amongst others.
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