The Africa fat replacers market size is anticipated to register a considerable CAGR during the forecast period, 2021-2028. The growth of the market is attributed to the growing demand for dairy products along with healthy dietary habits of the consumers.
A fat replacer or substitute is a food product that has the same stability, functions, physical, and chemical properties as conventional fat but contains fewer energy per serving. These substitutes are used to make foods less contain of fat and calories. The use of fat replacers can help to reduce overall fat and calorie intake from diet. This is beneficial for individuals who want to cut down on any of the fat associated diets, especially when they have health condition that is linked to a high-fat diet. However, the fat replacer by itself can lower the percentage of kilocalories consumed from dietary fat, it may not be enough to lessen total energy consumption of an individual unless the balance of the diet is low in energy density and high quality. The COVID-19 pandemic has positive impact on the Africa fat replacers market owing to the changes in consumer behavior and demand along with purchasing patterns across the geography.
Market Trends, Drivers, Restraints, and Opportunities
- Rising awareness for healthy lifestyle among a large section of the population in the region is one of the key factors driving the market.
- Inclination of consumers towards the consumption of healthy diet and its benefits to prevent from chronic illness or acute disease is expected to boost the market in the coming years.
- Lack of awareness related to fat replacers in the geography presents a major challenge. This is anticipated to hamper the market growth in the projected period.
- Risk and disease associated with high intake of dietary fat is expected to hinder the market during the projected period.
- Production of low-fat foods that replicate the texture and flavor of high-fat foods is projected to create significant growth opportunities for the market in the near future.
Scope of the Report
The report on the Africa fat replacers market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
|
Details
|
Report Title
|
Fat Replacers Market - Africa Industry Analysis, Growth, Share, Size, Trends, and Forecast
|
Base Year
|
2020
|
Historic Data
|
2018–2019
|
Forecast Period
|
2021–2028
|
Segmentation
|
Applications (Processed Meat, Beverages, Bakery & Confectionery, Dairy Products, and Others), Types (Protein-based, Carbohydrate-based, and Lipid-based), and Sources (Animal and Plant)
|
Geographic Scope
|
South Africa, Tanzania, Nigeria, Ghana, Kenya, and Rest of Africa
|
Report Coverage
|
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
|
Key Players Covered in the Report
|
Tate & Lyle PLC; Corbion N.V.; Ingredion Inc.; Lesaffre; and Ulrick & Short Ltd.
|
Market Segment Insights
Processed meat segment to grow at a rapid pace
Based on applications, the Africa fat replacers market is divided into processed meat, beverages, bakery & confectionery, dairy products, and others. The processed meat segment is expected to grow at a rapid pace during the forecast period attributed to rising utilization of the fat substitute in the preparation of processed meat. Moreover, the rising demand for healthy food items among health-conscious population in the region presents another key driver of the segment. However, the dairy products segment is anticipated to hold a key share of the market in the coming years due to increasing adoption and awareness related to fat replacer in milk-based products.
Protein-based segment to expand at a considerable CAGR
In terms of types, the market is segregated into protein-based, carbohydrate-based, and lipid-based. The protein-based segment is projected to expand at a considerable CAGR during the forecast period owing to several applications in dairy products such as sour cream, cream, ice butter, cheese, and yogurt. On the other hand, the carbohydrate-based segment is anticipated to account for a major market share during the forecast period due to its property of creaminess, which is same as natural fat.
Plant segment to hold significant market share
On the basis of sources, the Africa fat replacers market is bifurcated into animal and plant. The plant segment is anticipated to hold significant market share in the coming years attributed to health benefits associated with the consumption of fat replacer obtained from plant. However, the animal segment is anticipated to expand at a substantial CAGR during the forecast period due to increasing health awareness regarding good fats extracted from animals.
South Africa to constitute a key market share
In terms of geography, the market is classified as South Africa, Tanzania, Nigeria, Ghana, Kenya, and Rest of Africa. South Africa is expected to constitute a key share of the market during the projected period owing to the presence of a large number of health-conscious population and their demand for low-calorie food & beverages products. However, the market of Ghana is anticipated to expand at a rapid pace during the forecast period attributed to growing population and rising nutrition requirement per person.
Segments
The Africa fat replacers market has been segmented on the basis of
Applications
- Processed Meat
- Beverages
- Bakery & Confectionery
- Dairy Products
- Others
Types
- Protein-based
- Carbohydrate-based
- Lipid-based
Sources
Geography
- South Africa
- Tanzania
- Nigeria
- Ghana
- Kenya
- Rest of Africa
Key Players
Competitive Landscape
Key players competing in the Africa fat replacers market are Tate & Lyle PLC; Corbion N.V.; Ingredion Inc.; Lesaffre; and Ulrick & Short Ltd. As part of their efforts to expand their client base and acquire a competitive advantage over competitors, manufacturers operating in the market have adopted various strategic initiatives such as partnerships, collaborations, and mergers & acquisitions. Moreover, companies are focusing on investment in R&D for development and launching of new products to maintain their competitive positions in the market.