Plant Protein Consumption in South Africa to Reach US$284.3 Million by 2027 | White Space / Gap Analysis, Product Strategy, Innovation and Brand Share Analysis | Competitive Landscape, Market Size Across 50+ Segments

The South African plant-based protein market has witnessed strong growth over the last few years. This growth is primarily driven by millennials and Gen Z leading the change, increasingly adopting healthier food habits such as vegetarianism, veganism, or a flexitarian diet. Food choices of Millennial and Gen Z segments are driven more by factors such as focus on health (natural, organic), food source (locally sourced) and animal welfare (plant based) and environmental impacts (sustainable). With millennial and Gen Z forming a significant part of South African population, these evolving food habits have led to the plant-based protein products becoming increasingly popular.

The booming demand makes this industry an attractive business and investment opportunity for leading agricultural producers, foodservice companies, and start-ups. The sector is also highly attractive to alternative theme investment funds who have been investing in start-ups across the agricultural value chain.

Factors such as continued increase in demand, start-ups and increased investments are expected to further drive innovation and inorganic growth in the plant-based protein market as incumbents attempt to protect / enhance their market share in this burgeoning space.

The South African meat industry, amidst public concern over the link between meat production and the ongoing COVID-19 and African swine fever crises, has been facing several challenges to run their business. As consumer demand dropped for animal products during this period, availability and accessibility of plant-based products has helped the plant-based meat sector to record a surge in demand.

Increased penetration and availability of plant-based protein diets across restaurants, retailers will support future demand. Major retailers have seen a substantial growth in demand for vegetarian, vegan products over the last twelve months, leading to an increased focus on adding more products, brands, and increasing the shelf space for plant-based products. Retailers like Pick n Pay and Checkers (Shoprite owned) are expanding their vegan, flexitarian diet product ranges, as they experience an increased demand for plant-based options. A sizeable scale up in production would also help with a competitive pricing compared to the animal-based diets.

The plant protein market in South Africa includes existing players such as AGT Foods, Archer Daniels Midland, Brenntag, Cargill, Roquette, SunOpta who have launched plant-based offerings in the recent years. The trend continues to global food giants, who have earmarked big investments with dedicated teams to develop and sell plant protein-based alternatives to meat and dairy markets.

Plant protein producers face stiff competition from established animal protein companies that currently offer highly distributed, cheaper, traditionally acceptable, and tastier meat-based product portfolio.

The plant protein market in South Africa has recorded a strong growth with a CAGR of 36.1% during 2018-2020. According to ConsumerIntel360’s Q4 2020 Global Plant Protein Survey, sustainability concerns coupled with health mindfulness among consumers are driving the market for plant-based alternatives in South Africa.

Moreover, COVID-19 has reinforced the demand for plant-based products especially, plant-based meats, thereby inducing competition in the market. The sector has recorded a significant increase in the number of new product launches. Similarly, the number of food tech companies is increasing and expected to increase rivalry in the market in the short term.

Plant protein industry is expected to continue to grow in South Africa over the forecast period. It is expected to record a CAGR of 28.8% during 2021-2027. The plant protein consumption in the country will increase from US$ 46.7 million in 2020 to reach US$ 284.3 million by 2027.

Key Plant Protein Brands in South Africa (based on consumer popularity)
• Almond Breeze
• Alpro
• Beyond Meat
• Biogen
• Clear Vegan
• Earth & Co.
• EVOX
• Fry Family Food
• Fully Dosed
• Good Hope
• Gudness
• Health Connection
• HERBI VOHR
• Herbivore
• Kauai
• Lifematrix
• Meraki
• My Wellness
And others...

This business intelligence report from ConsumerIntel360 aims to analyze market opportunities and risks in plant protein industry in South Africa. This report offers a detailed view of market opportunity by end user segments, product categories, ingredients, applications, key cities, competing protein segments, price point, and shift in consumption by consumer demographics. In addition, for each product category, this report details demand gap / white space analysis, competitive landscape, brand share, claims analysis, and ingredient analysis.

• White Space Analysis: For each product category, this report provides market opportunities across price point and key end-use segments.

• Product Innovation: Captures key innovative plant protein product launches in South Africa along with claims, product positioning and targeting.

• Competitive Landscape and Brand Share Analysis: Provides a snapshot of overall competitive landscape and brand share by product category.

• Product Claims Analysis: Provides a detailed view on top claims and emerging claims, offering insights into changing targeting strategy adopted by leading plant protein manufacturers.

• Changing Consumer Preferences: Quantified details on changing consumer preferences along with forecast.

• Plant Protein Consumption by Ingredients: Provides a detailed view of opportunities across key plant protein ingredients (Soy, Pea, Beans & Lentils, Hemp, Flaxseed, Pumpkin & Other Seeds, Brown Rice, Quinoa, Spirulina & Seaweed, and Nuts)

• Plant Protein Sales by Channel: Sales breakdown by online vs. offline channels.
• Plant Protein Sales by Retail Outlet: Sales breakdown by retail outlets grouped by four categories – Diversified Stores, Pharmaceutical & Wellness Stores, Healthcare and Fitness Centers, and Specialist Sports Stores.

• Plant Protein Consumption by Functional Product Type: Plant protein consumption breakdown by 3 segments – Ready to Eat, Ready to Drink, Ready to Mix, and Ready to Cook.

• Plant Protein Consumption by Product Categories: Detailed market size and forecast by eight product categories – Nutrition Supplements, Protein Bars, Sports Nutrition, Meal Alternative, Dairy Alternatives, Meat Alternatives, Bakery Products, and Infant Formulas.

• Plant Protein Consumption by Price Points: Plant protein demand analysis by price points – Premium, Mid-Tier, and Low End.

• Plant Protein Consumption by Cities: Plant protein demand analysis by key cities grouped under three segments – Tier 1, Tier 2, and Tier 3.

• Plant Protein Consumption by Consumer Demographics: Plant protein demand / consumption analysis by age, gender, and income levels..

Scope
This research report provides in-depth analysis of plant protein industry in South Africa, providing white space / gap analysis, product innovation, product claims analysis, and brand share analysis, competitive landscape, market size across 50+ segments. Below is the taxonomy, providing detailed scope of coverage.

South Africa Plant Protein Market Dynamics – Strategy & Innovation
• Competitive Landscape Snapshot
• White Space / Demand Gap Analysis by Product Category
• Brand Share by Product Category
• Key Innovative Launches
• Insights on Market Dynamics

South Africa Plant Protein Market Size by Ingredients
• Soy
• Pea
• Beans & Lentils
• Hemp
• Flaxseed, Pumpkin & Other
• Brown Rice
• Quinoa
• Spirulina & Seaweed
• Nuts
• Other

South Africa Plant Protein Market Size by Product Categories
• Nutrition Supplements
• Protein Bars
• Sports Nutrition
• Meal Alternative
• Dairy Alternatives
• Meat Alternatives
• Bakery Products
• Infant Formulas
• Other

South Africa Plant Protein Market Size by Functional Segments
• Ready to Mix
• Ready to Eat
• Ready to Drink
• Ready to Cook

South Africa Plant Protein Market Share Analysis by Sales Channels
• Online
• In-Store

South Africa Plant Protein Market Share Analysis by Type of Retail Outlet
• Pharmaceutical & Medical Store
• Grocery Retailers
• Health and Wellness Stores
• Specialist Sports Store

South Africa Plant Protein Market Size by Retail Sales Pricing
• Premium
• Mid-Tier
• Low End

South Africa Plant Protein Market Size by Cities
• Tier 1 Cities
• Tier 2 Cities
• Tier 3 Cities

South Africa Plant Protein Consumption by Demographics
• Age
• Gender
• Income

To get detailed insights and FREE sample report please click here @ https://www.consumerintel360.com/reportstore/view/South-Africa-Plant-Protein-Business-81

Reasons to Purchase
• Market Opportunity: Get detailed understanding of plant protein market opportunity in South Africa across 50+ segments.
• White Space Analysis: Understand gap in demand / supply across product categories and identify unique opportunities.
• Competitive Landscape & Brand Share: Get a detailed view on competitive landscape along with key brands across plant protein product categories.
• Strategy & Innovation: In-depth understanding of strategies adopted to gain market share along with a snapshot of key innovative plant protein product launches.
• Consumer Preference & Buying Behaviour: Gain insights into changing consumer consumption & buying preferences across plant protein product categories.
• Distribution Channel: Fine tune sales and distribution strategy by focusing on right channels to maximize ROI.

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This release was published on openPR.