Spreads & Sweeteners - South Africa

South Africa

Revenue in the Spreads & Sweeteners market amounts to €0.54bn in 2024. The market is expected to grow annually by 6.21% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (€132,300m in 2024).
In relation to total population figures, per person revenues of €8.84 are generated in 2024.
In the Spreads & Sweeteners market, volume is expected to amount to 197.30m kg by 2029. The Spreads & Sweeteners market is expected to show a volume growth of 2.3% in 2025.
The average volume per person in the Spreads & Sweeteners market is expected to amount to 2.9kg in 2024.

Key regions: Spain, Japan, China, Philippines, United Kingdom

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Analyst Opinion

The Spreads & Sweeteners market in The Food market of South Africa is experiencing minimal growth, influenced by factors such as the increasing availability of healthier alternatives and the rising health consciousness among consumers. The market is also impacted by the convenience of online shopping and the use of digital technologies in production and marketing.

Customer preferences: Consumers in South Africa are increasingly becoming health-conscious and are seeking healthier alternatives in the Spreads & Sweeteners Market within The Food market. This has led to a rise in demand for natural and organic options, as well as products with reduced sugar and artificial ingredients. Additionally, there is a growing preference for locally sourced and sustainably produced spreads and sweeteners, reflecting a shift towards supporting local businesses and promoting environmental sustainability.

Trends in the market: In South Africa, the Spreads & Sweeteners Market within The Food market is experiencing a shift towards healthier and natural options. Consumers are becoming more health-conscious and are seeking out products with lower sugar and artificial ingredient content. This trend is expected to continue, with a growing demand for clean label and plant-based spreads and sweeteners. For industry stakeholders, this presents an opportunity to tap into the health and wellness trend and cater to the changing preferences of consumers. However, it also poses a challenge to traditional spreads and sweeteners manufacturers, who may need to adapt their products and marketing strategies to stay competitive in the market.

Local special circumstances: In South Africa, the Spreads & Sweeteners market is heavily influenced by the country's diverse cultural landscape. With a significant population of Indian and Asian descent, there is high demand for traditional spreads and sweeteners in these communities. Additionally, the South African government has implemented strict regulations on sugar and sweetener consumption, leading to a growing market for natural and alternative sweeteners. The country's geographical location also plays a role, with a large agricultural industry contributing to the availability of locally sourced ingredients for spreads and sweeteners. These unique factors contribute to the dynamic nature of the Spreads & Sweeteners market in South Africa.

Underlying macroeconomic factors: The Spreads & Sweeteners market in South Africa is greatly impacted by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other relevant financial indicators. As a developing country, South Africa's economic growth and stability play a significant role in the performance of its food market. In recent years, the country has faced challenges such as high unemployment rates and low consumer spending, which have had a direct impact on the demand for spreads and sweeteners. However, with government initiatives to boost economic growth and improve the standard of living, the market is expected to witness a steady growth as consumers have more disposable income to spend on food products. Additionally, the increasing health-conscious trend among consumers has led to a shift towards natural and healthier sweeteners, driving the demand for these products in the market.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.