Market Trends of africa plant protein ingredients Industry
This section covers the major market trends shaping the Africa Plant Protein Ingredients Market according to our research experts:
Food and Beverages is the largest End User
- The F&B segment drove the African plant protein ingredients market. It is projected to register the second-fastest CAGR of 6.05% during the forecast period. In 2020, its application share by value increased to 62% from 60.7% in 2019. This growth was mostly due to increased stockpiling and consumer panic-buying behavior during the COVID-19 pandemic and subsequent lockdowns. The applications of plant proteins in bakery, one of the primary F&B sub-segments, registered a Y-o-Y growth rate of 16.72% in 2020.
- The personal care and cosmetics segment is projected to register the fastest CAGR of 7.12% during the forecast period, owing to expansive marketing campaigns and increasing distribution channels, especially in e-commerce for personal care products. Growth in men's grooming is another vital factor boosting the market. Major international players in the beauty and cosmetics industry are maximizing the boom anticipated for the Sub-Saharan African market, which is viewed as the industry's "next frontier." Because of their capacity to bind water with the horny layer of skin and its annexes, plant proteins are considered beneficial components for fostering an environment favorable for healthy skin and hair. They are especially helpful in hydrating the skin, which is necessary for dry regions.
- The animal feed segment accounts for the second-largest market share, with a share of 40.39% by volume in 2022. The applications of protein in the animal feed segment are driven by plant protein, mainly soy and wheat proteins, due to their low cost-in-use, excellent digestibility, and neutral flavor profile. The production animal can function at its highest zootechnical level owing to the utilization of novel plant protein sources, such as hydrolyzed plant proteins. Additionally, they provide certain functions like anti-oxidant, anti-microbial, anti-fungal, anti-viral, and anti-parasitic properties.
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Nigeria is the largest Country
- The African plant protein ingredients market is led by Nigeria, which is also projected to record the fastest CAGR of 5.97% by value during the forecast period. Despite the country's small vegetarian population, the industry is projected to expand due to the growing acceptance of veganism or vegetarianism. Four out of five Gen Z and millennials in Nigeria are highly likely to try plant-based proteins. Africa has historically been susceptible to food security disruptions and malnutrition, with plant-based protein solutions a potential source of increased food security.
- South Africa is another leading market, largely led by soy protein applications in animal feed. The comparatively bigger animal feed sector of the country, accounting for a 33.04% share of the overall African animal feed industry, has further catered to the growth of the South African market. Soy protein is commonly used in the animal feed sector due to its low cost and high protein content. In 2022, soy protein isolates cost 36.74% less than pea protein isolates in South Africa. The use of soy protein isolates in combination with high-quality carbohydrate feed such as whey powder to feed early-weaned piglets of different ages has achieved similar growth performance to skimmed milk powder.
- There is widespread consumer acceptability and significant demand for plant-based meat throughout Africa, especially in Kenya, Nigeria, and South Africa, as 1.82 million, 17 million, and 1.5 million people in Kenya, Nigeria, and South Africa suffer from severe malnutrition, respectively. Due to the significant prevalence of malnutrition, the plant-based protein market is likely to grow across the region in the future.
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