Africa Food Ingredients Market Size is Expected to Exceed USD 2.30 Billion by 2028 Africa Food Ingredients Market size is expected to exceed USD 2.30 billion by 2028. Rising consumption of dairy & frozen dairy products coupled with the rapidly growing food & beverage sector is anticipated to positively influence the market. Additionally, growing demand for processed & packaged food coupled with an increasing focus on innovation in the food & beverage industry should drive the market growth.
As per market analysis, some major findings of the Africa food ingredients market report include:
1. Flavours & enhancers product is projected to grow at a CAGR of over 5.0% over the forecast timeframe owing to increasing product usage in non-alcoholic beverages and innovative food products.
2. Beverages application is predicted to surpass USD 928.0 million by the end of 2028 owing to rising consumption of functional and fortified beverages. 3. Major players in the food ingredients market are focused on implementing strategic initiatives such as mergers & acquisition, partnerships, and collaborations to cater the rising demand for food ingredients across Africa. 4. South Africa comprises a significant share in the food ingredients market and is anticipated to grow with a CAGR of over 4.5% owing to developed food & beverage sector and surging demand for processed food.
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The acidulants market surpassed USD 98.0 million in 2021 and is anticipated to witness a growth of over 5.5% in the forecast period. Acidulants are used in food products beverages due to its functional benefits such as a preservative for microbial control, flavouring agent, chelating agent, gelling, buffers, and coagulating agent. Its primary function is to stabilize the pH level of the food product and preserve the product’s shelf life. Thus, the increasing focus of food & beverage producers on increasing shelf life and quality of the products is boosting product demand.
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Ethiopia food ingredients market surpassed USD 163.5 billion in 2021 and is anticipated to grow at a significant pace at over 5.0% CAGR up to 2028. High production and consumption of dairy & dairy product in Ethiopia is driving the demand for food ingredients such as emulsifiers, thickeners, and antioxidants to improve flavor and shelf life, thus propelling the market growth.
Additionally, shifting preferences toward wheat & flour-based products, such as pasta, pizzas, cereals, and biscuits, are propelling the use of food ingredients.
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