Africa Nutraceutical Market - Growth, Trends And Forecast (2020 - 2025)
Africa Nutraceutical Market is projected to register a CAGR of 6.05% during the forecast period 2020-2025.
- The infant nutrition industry growth and the demand for healthy and nutritious food and beverage are the major drivers for the nutraceutical market’s growth in Africa.
- Market accessibility and low economic conditions in the region restrain this market. Moreover, countries, such as Egypt and South Africa, are trying to adopt more plant-based nutraceuticals, which is a great opportunity in the African market.
Key Market Trends
Emerging trend for Health and Wellness
Sports drinks are gaining popularity amongst the individuals and athletes who are involved in physical fitness activity. Millennial population drives the market as they are showing a keen interest in sports, inclination towards fitness, more buying capacity and willing to purchase healthy products. The shift in consumer trend is also encouraging the nutraceutical manufacturers to evolve new products which meet the consumer interest. The growing inclination of people towards physical fitness, the number of health clubs and fitness centers have come up in the recent past. The growth of these establishments is one of the propelling drivers for the nutraceutical market during the forecast period.
South Africa Leading the Market
Nutraceutical market is a lifestyle-driven market. The increasing concerns about physical well-being and leading a healthy lifestyle is a major growth driver for the nutraceutical market. Moreover, the increasing fitness trend is catching up with other regions and driving sales numbers for the market. The surging demand for natural sweeteners is also expected to drive the growth of the nutraceutical African market, owing to the no or low content of calories in the sweeteners used in the tailoring of the sports drink and energy drinks by the manufacturers in the regional market.
The major multinational companies active in the region are holding the major share of this market. Product innovations, technological advancements, partnerships, mergers, acquisitions, market expansion and categories’ expansion are the major market strategies followed by the market leaders. Some of the major players in the Africa Nutraceutical Market are Arla Foods, Nestle, Herbalife International of America Inc., Amway, Kellogg Co. among others.
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- 1 INTRODUCTION
- 1.1 Study Assumptions & Market Definition
- 1.2 Scope of the Study
- 2 RESEARCH METHODOLOGY
- 3 EXECUTIVE SUMMARY
- 3.1 Market Overview
- 4 MARKET DYNAMICS
- 4.1 Market Drivers
- 4.2 Market Restraints
- 4.3 Porter's Five Force 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 Product Type
- 5.1.1 Functional Food
- 126.96.36.199 Cereals
- 188.8.131.52 Bakery and Confectionery
- 184.108.40.206 Dairy
- 220.127.116.11 Snacks
- 18.104.22.168 Other Functional Foods
- 5.1.2 Functional Beverages
- 22.214.171.124 Energy Drinks
- 126.96.36.199 Sports Drinks
- 188.8.131.52 Fortified Juice
- 184.108.40.206 Dairy and Dairy Alternative Beverages
- 220.127.116.11 Other Functional Beverages
- 5.1.3 Dietary Supplements
- 18.104.22.168 Vitamins
- 22.214.171.124 Minerals
- 126.96.36.199 Botanicals
- 188.8.131.52 Enzymes
- 184.108.40.206 Fatty Acids
- 220.127.116.11 Proteins
- 18.104.22.168 Other Dietary Supplements
- 5.2 Geography
- 5.2.1 South Africa
- 5.2.2 Nigeria
- 5.2.3 Egypt
- 5.2.4 Rest of Africa
- 6 COMPETITIVE LANDSCAPE
- 6.1 Most Adopted Strategies
- 6.2 Market Share Analysis
- 6.3 Company Profiles
- 6.3.1 Arla Foods
- 6.3.2 Nestle SA
- 6.3.3 Herbalife International of America Inc.
- 6.3.4 Amway International
- 6.3.5 Kellogg Co.
- 6.3.6 RedBull Corporation
- 6.3.7 Danone
- 7 MARKET OPPORTUNITIES AND FUTURE TRENDS