The African dairy-based beverages market is projected to register a CAGR of 3.6% during the forecast period.
Key Market Trends
Rising Demand for Probiotic Beverages
Consumers perceive fermented products as healthy products as they aid in the control of intestinal diseases. The country has well-established markets for fortified food items and fermented dairy products. The changing consumer lifestyles, rising healthcare expenditure, and growth of the retail sector are playing a vital role in the growth of the probiotic drinks market. Increasing international sporting events and commercialization of domestic sporting events in the developing countries of Africa are providing growth opportunities for functional drinks, like probiotic drinks, in fast-growing markets, like South Africa.
Supermarkets/Hypermarkets Drives the Market
Supermarkets/Hypermarkets offer shoppers a one-stop shopping experience, which enables consumers an easy purchase for a wide range of products of different brands, which is driving the growth of the market. Supermarkets are the best platform for the launch of products and it has been observed that new product launches may increase the demand for those products. Consumers make frequent visits to these stores, and availability of products from various brands gives the choice to choose from various available brands. Consumers prefer purchasing products through supermarkets more, as it serves as a platform with availability of all the products at one place, which saves time and energy.
Competitive Landscape
The African dairy-based beverages market is consolidated with major players holding the maximum share in the market. The companies are focusing on new product innovation, expansion, and mergers and acquisitions to meet the consumer demands. The key players in the market are Clover Industries Limited, Danone, Lactalis, and Nestle.
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- Consumers are becoming increasingly health-conscious, especially the younger generations, driving a forceful demand for functional beverages to meet their needs.
- The market is mainly driven by the value of nutrition and functional properties of milk and the rising demand for probiotic drinks by health-conscious consumers.
- Food manufacturers are focusing more on functional and probiotic drinks, which offer additional health benefits compared to standard milk. Omega-3, fibers, bioactive compounds, and phytosterol are some of the functional components added to the dairy beverages.
Key Market Trends
Rising Demand for Probiotic Beverages
Consumers perceive fermented products as healthy products as they aid in the control of intestinal diseases. The country has well-established markets for fortified food items and fermented dairy products. The changing consumer lifestyles, rising healthcare expenditure, and growth of the retail sector are playing a vital role in the growth of the probiotic drinks market. Increasing international sporting events and commercialization of domestic sporting events in the developing countries of Africa are providing growth opportunities for functional drinks, like probiotic drinks, in fast-growing markets, like South Africa.
Supermarkets/Hypermarkets Drives the Market
Supermarkets/Hypermarkets offer shoppers a one-stop shopping experience, which enables consumers an easy purchase for a wide range of products of different brands, which is driving the growth of the market. Supermarkets are the best platform for the launch of products and it has been observed that new product launches may increase the demand for those products. Consumers make frequent visits to these stores, and availability of products from various brands gives the choice to choose from various available brands. Consumers prefer purchasing products through supermarkets more, as it serves as a platform with availability of all the products at one place, which saves time and energy.
Competitive Landscape
The African dairy-based beverages market is consolidated with major players holding the maximum share in the market. The companies are focusing on new product innovation, expansion, and mergers and acquisitions to meet the consumer demands. The key players in the market are Clover Industries Limited, Danone, Lactalis, and Nestle.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
This product will be delivered within 2 business days.
Table of Contents
1 INTRODUCTION
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Morinaga Nutritional Foods Inc.
- Chobani LLC
- Danone
- Clover Industries Limited
- Lactalis
- Nestle SA
- First Choice Dairy
Methodology
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