The continent of Africa is the least developed region in the world. The protein industry in Africa is least developed. Many industry experts believe that rising awareness about the protein advantages for the human body, improving lifestyle of middle income families and growing demand of high quality and nutritional food source would aid the protein market growth in the region. The plant protein industry is relatively new and is in initial phase of development.
Africa captures around 4.0% of global plant protein industry, the market value of which is presently estimated at $596.04 million in 2018. With rising demand of sustainable protein source and growing awareness about the protein advantages, the plant protein market is forecasted to grow at a CAGR of 6.0% during the forecasting period 2018 to 2023, to attain the value of $796.0 million by 2023. South Africa, Egypt and Nigeria are major contenders in the African plant protein industry of which South Africa accounts for more than half of the market share. Growing population inclining towards the adoption of vegan and vegetarian food consumption, rising awareness about the health concerns such as obesity and overweight and strengthening demand of dietary supplements products are some of the major drivers of plant protein industry in the South Africa. While, the plant protein market in Egypt and Nigeria is driven by rising disposable income of middle and lower-class families, growing youngsters, sports community, athletes and bodybuilders intending to consume protein rich containing supplement products and slowly rising awareness about the benefits of protein consumption.
The application of plant protein across food and dietary supplements industry captures highest market share. Other applications include beverage, animal feed, nutraceuticals, pharmaceuticals, cosmetics and personal care. The industry of meat substitute and dairy alternative has been growing at a considerable rate since last few years due to growing population giving up meat and its derivative products and rising cases of lactose intolerance. Hence, these both food industry segments provide good opportunity for the plant protein manufacturers to develop customize products according to the consumer needs and to capture most of the market share. The popularity of soy protein, rice protein, wheat protein and pea protein are very high in the Africa region. Emerging plant protein types such as hemp protein, potato protein and flax seed protein, etc. are in nascent stage and would take aggressive marketing efforts to will gain similar popularity as of soy protein.
Key Deliverables
Africa captures around 4.0% of global plant protein industry, the market value of which is presently estimated at $596.04 million in 2018. With rising demand of sustainable protein source and growing awareness about the protein advantages, the plant protein market is forecasted to grow at a CAGR of 6.0% during the forecasting period 2018 to 2023, to attain the value of $796.0 million by 2023. South Africa, Egypt and Nigeria are major contenders in the African plant protein industry of which South Africa accounts for more than half of the market share. Growing population inclining towards the adoption of vegan and vegetarian food consumption, rising awareness about the health concerns such as obesity and overweight and strengthening demand of dietary supplements products are some of the major drivers of plant protein industry in the South Africa. While, the plant protein market in Egypt and Nigeria is driven by rising disposable income of middle and lower-class families, growing youngsters, sports community, athletes and bodybuilders intending to consume protein rich containing supplement products and slowly rising awareness about the benefits of protein consumption.
The application of plant protein across food and dietary supplements industry captures highest market share. Other applications include beverage, animal feed, nutraceuticals, pharmaceuticals, cosmetics and personal care. The industry of meat substitute and dairy alternative has been growing at a considerable rate since last few years due to growing population giving up meat and its derivative products and rising cases of lactose intolerance. Hence, these both food industry segments provide good opportunity for the plant protein manufacturers to develop customize products according to the consumer needs and to capture most of the market share. The popularity of soy protein, rice protein, wheat protein and pea protein are very high in the Africa region. Emerging plant protein types such as hemp protein, potato protein and flax seed protein, etc. are in nascent stage and would take aggressive marketing efforts to will gain similar popularity as of soy protein.
Key Deliverables
- Market trends since 2014 and five year forecasts of market growth
- Detailed analysis of the micro and macro elements influencing demand trends
- Identifying opportunity spaces across segments and countries
- Supply & demand side trend and analysis
- Price trend analysis, investment prospects and competition pattern
- Insights on growth potential of the market
- Detailed analysis of major producers covering financial investments & strategies adopted
- Competitive landscape of the industry
Table of Contents
1. Introduction
2. Summary
3. Industry Dynamics
4. Market Size and Forecast
5. Country Market Share
6. Competitive Analysis
7. Company Profiles
Appendix
Companies Mentioned
- DuPont
- ADM
- Cargill
- Bunge
- Mead Johnson
- CHS
- Scoular
- Roquette Freres Le Romarin
- Burcon NutraScience
- MGP Ingredients
- Axiom Foods
- Tate & Lyle Plc
- Fonterra
- Kerry
- Omega Protein Corporation
- Glanbia PLC
- Beneo-Pa
