South Africa Food Enzymes Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.40 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
South Africa Food Enzymes Market Analysis
The South Africa food enzymes market is projected to grow at a CAGR of 3.4% during the forecast period (2020 - 2025).
- The growing demand for processed foods and increasing health consciousness in the people is driving the food & beverage industry which in turn is driving the food enzymes market. Food enzymes are major food additives that convert complex molecules into simpler ones in our diet.
- The government's support, through enabling policies, has positively impacted the growth of the food enzyme market in the country. Many South African companies have formed associations with international companies, giving South Africa access to the latest technology, expertise, and distribution. For instance, In August 2019, Barentz International, a leading global distributor of a comprehensive portfolio of specialty ingredients (including food enzymes), announced a joint venture with SK Chemtrade Services, to continue its expansion in South Africa.
- The demand for processed and packaged foods is growing with the need to provide food security and safety. However, due to complexities in the global food supply chain, there is a need to add food additives to keep intact the nutritional content and maintain the shelf life. Food enzymes are major food additives that convert complex molecules into simpler ones in our diet.
South Africa Food Enzymes Market Trends
This section covers the major market trends shaping the South Africa Food Enzymes Market according to our research experts:
Progressive Growth in Retail Sector of the Country
South Africa has a well-developed retail sector expanding into other African countries. The country is the biggest market for food and beverage products in Southern Africa and serves as a gateway to other Sub-Saharan African countries. According to USDA, there are over 1,800 food production companies in South Africa, which provides a great platform for the food enzymes manufacturers to expand their product offerings and gain competitive advantage. South African food retail sector is continuously developing and aggressively expanding into other African countries, which in turn is expected to boost the market of food acidulants during the forecast period.
Increasing Application in Confectionery Sector
South Africa has one of the largest and most well-established confectionery markets on the African continent. South Africa has a sizeable market for chocolate confectionery since income levels and therefore consumer spending tends to be higher than the regional average, whilst the country also has a fairly developed retail food industry. This is one of the major which is driving the application of food enzymes in the confectionery segment of the country. As consumers are actively seeking for nutritional benefits in their food products, the application of food enzymes in confectionery products is one of the greatest opportunity for the manufacturers to cater the on-going interest of the consumers as well as giving a boost to the overall growth to the food enzymes market in the country.
South Africa Food Enzymes Industry Overview
The South Africa food acidulants market faces high competition, with the presence of both global and local players. Some of the companies operating in this market are DuPont, Chr. Hansen Holding A/S, Koninklijke DSM N.V., Kerry Inc, and Corbion N.V. Acquisitions and partnerships remain the most common strategy adopted by key players in the South African food acidulants market. The global giants, like Corbion, have been continuously increasing their presence and expanding their food acidulants businesses through acquisitions. Additionally, the companies are active with new or product launches and sustainable procurement for raw material. The major manufacturers are focusing on utilizing fermentation technology both an aerobic and anaerobic method for the production of major food acidulants.
South Africa Food Enzymes Market Leaders
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Corbion N.V.
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Chr. Hansen Holding A/S
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Koninklijke DSM N.V.
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Kerry Group plc
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DuPont de Nemours, Inc
*Disclaimer: Major Players sorted in no particular order
South Africa Food Enzymes Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables and Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Drivers
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4.2 Market Restraints
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4.3 Porter's Five Forces Analysis
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4.3.1 Threat of New Entrants
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4.3.2 Bargaining Power of Buyers/Consumers
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4.3.3 Bargaining Power of Suppliers
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4.3.4 Threat of Substitute Products
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4.3.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Application
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5.1.1 Bakery
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5.1.2 Confectionery
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5.1.3 Dairy and Frozen Desserts
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5.1.4 Meat Poultry and Sea Food Products
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5.1.5 Beverages
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5.1.6 Others
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6. COMPETITIVE LANDSCAPE
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6.1 Most Adopted Strategies
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6.2 Market Position Analysis
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6.3 Company Profiles
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6.3.1 Corbion N.V.
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6.3.2 DuPont de Nemours, Inc
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6.3.3 Kerry Group plc
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6.3.4 Chr. Hansen A/S
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6.3.5 ABF Ingredients
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6.3.6 Koninklijke DSM N.V
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6.3.7 SABINSA SA (PTY) LTD
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
South Africa Food Enzymes Industry Segmentation
The report on South Africa food enzymes market (henceforth, referred to as the market studied) offers key insights into the latest market developments. It analyzes recent trends, drivers, and challenges affecting the food enzymes market in the country. South Africa food enzymes market is segmented by application into the bakery, dairy, and frozen products, confectionery, meat poultry and seafood, beverages, and others. The report contains top-line revenues and detailed qualitative analysis of the key players, highlighting the most adopted strategies of the companies in the market studied.
| By Application | |
| Bakery | |
| Confectionery | |
| Dairy and Frozen Desserts | |
| Meat Poultry and Sea Food Products | |
| Beverages | |
| Others |
South Africa Food Enzymes Market Research FAQs
What is the current South Africa Food Enzymes Market size?
The South Africa Food Enzymes Market is projected to register a CAGR of 3.40% during the forecast period (2024-2029)
Who are the key players in South Africa Food Enzymes Market?
Corbion N.V., Chr. Hansen Holding A/S, Koninklijke DSM N.V., Kerry Group plc and DuPont de Nemours, Inc are the major companies operating in the South Africa Food Enzymes Market.
What years does this South Africa Food Enzymes Market cover?
The report covers the South Africa Food Enzymes Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the South Africa Food Enzymes Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
South Africa Food Enzymes Industry Report
Statistics for the 2024 South Africa Food Enzymes market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. South Africa Food Enzymes analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
