Africa Acidulants Market is projected to grow at a CAGR of 7.34% during the forecast period 2020-2025.
Key Highlights
- A wide scope of application in food and beverage industry coupled with the range of functional benefits provided by food acidulants are key factors driving the food acidulants market in the region.
- In addition, the robust growth in food and beverage sector majorly supports the market world-wide. With the economic development along with changing consumer behavior in Africa, the region outshines as a promising market for food and beverage industry supplementing the consumption of food acidulants.
Key Market Trends
Wide Application in Confectionery Market
The advancement in confectionery industry dedicated to health oriented consumers with the development of low-calorie, organic products is gaining a large number of consumer base supplementing the growth of additives market including food acidulants. In addition, the booming demand for premium chocolates among work professionals and burgeoning millennials has significantly increased the chocolate consumption in the region. In confectioneries, malic acid is gaining popularity due to its multi-function properties of blending in fruit flavors and creating sourness. Hence, developing a considerable demand for specific acidulants in the industry.
South Africa holds a Prominent Share in the market studied
South Africa is one among the more prominent countries in the region that act as emerging markets for food acidulants. This is mainly attributed to the increase in consumption of processed foods and increasing nutritional requirements among consumers. Also, the growing GDP of the country is allowing middle-income group with increased disposable income to spend on luxury consumption., which in turn boosting the market studied in the country.
Competitive Landscape
Some of the players who have been profiled in the African food acidulant market are, ADM, Brenntag, Cargill, and Tate & Lyle, among others. Manufacturers are adopting innovative technologies to increase their profit margins in the market such as expanding their facilities and product portfolio, due to the growing demand for the confectionery and beverage segment in the Asian and African region.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
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Table of Contents
Methodology
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