South Africa Functional Foods Market Size & Outlook
South Africa functional foods market, 2017-2030 (US$M)
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South Africa functional foods market highlights
- The South Africa functional foods market generated a revenue of USD 2,327.2 million in 2023 and is expected to reach USD 3,938.5 million by 2030.
- The South Africa market is expected to grow at a CAGR of 7.8% from 2024 to 2030.
- In terms of segment, prebiotics & probiotics was the largest revenue generating ingredient in 2023.
- Vitamins is the most lucrative ingredient segment registering the fastest growth during the forecast period.
Functional foods market data book summary
| Market revenue in 2023 | USD 2,327.2 million |
| Market revenue in 2030 | USD 3,938.5 million |
| Growth rate | 7.8% (CAGR from 2023 to 2030) |
| Largest segment | Prebiotics & probiotics |
| Fastest growing segment | Vitamins |
| Historical data | 2017 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Carotenoids, Dietary Fibers, Fatty Acids, Minerals, Prebiotics & Probiotics, Vitamins |
| Key market players worldwide | Coca-Cola Co, Arla Foods, Amway Malaysia Holdings, Herbalife Ltd, Cargill, General Mills Inc, Basf SE |
Other key industry trends
- In terms of revenue, South Africa accounted for 0.7% of the global functional foods market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, South Africa functional foods market is projected to lead the regional market in terms of revenue in 2030.
- Saudi Arabia is the fastest growing regional market in Middle East & Africa and is projected to reach USD 2,203.5 million by 2030.
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Functional Foods Market Scope
Functional Foods Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Africa functional foods market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to functional foods market will help companies and investors design strategic landscapes.
Prebiotics & probiotics was the largest segment with a revenue share of 33.75% in 2023. Horizon Databook has segmented the South Africa functional foods market based on carotenoids, dietary fibers, fatty acids, minerals, prebiotics & probiotics, vitamins covering the revenue growth of each sub-segment from 2017 to 2030.
South Africa presents a fast-growing region for functional foods owing to the country’s burgeoning population, rising disposable income and the transition towards healthier diets & lifestyles to combat rising instances of epidemics and diseases. Food consumption is an important issue in South Africa, not only in its relation to poverty and deprivation, but also given the importance of nutrition in allowing HIV/AIDS sufferers to lead extended, productive lives.
With the pressing need to increase food security and the enormity of the epidemic, understanding the demand for functional food has become a vital task. The Government of South Africa has adopted market-oriented food policies and have liberalized trade; coupled with the prevalence of trade in the international commodity markets that has reached new heights.
Global trade agreements that reduce tariffs and non-tariff barriers have spurred the growth in trade in agricultural products. These policy reforms are likely to impact on household food consumption patterns, leading to high growth in functional foods market.
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Target buyers of South Africa functional foods market databook
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Our clientele includes a mix of functional foods market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the South Africa functional foods market , including forecasts for subscribers. This country databook contains high-level insights into South Africa functional foods market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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South Africa functional foods market size, by ingredient, 2017-2030 (US$M)
South Africa Functional Foods Market Outlook Share, 2023 & 2030 (US$M)
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