South Africa Plant Protein Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Source (Pea, Rapeseed, Soy, Hempseed, Others), By Form (Protein Concentrates, Protein Isolates, Protein Hydrolysate), By Application (Dietary Supplement, Food And Beverages, Pharmaceuticals, Animal Feed), And By Distribution Channel (Online, Offline) - Forecasts From 2022 To 2027

The South African plant protein market is estimated to grow at a CAGR of 9.85% to reach a market size of US$117.978 million in 2027 from US$61.123 million in 2020.

Primarily an emerging economy, South Africa is experiencing excitement in various segments and the plant-based protein market is no exception. Thus, the disruption of existing players and the growth of new product segments is poised to take place at a much faster pace than all the traditional preferences of protein sources. With technological advancements, rapid increases in demand, and increased government recognition, the market for plant-based protein in South Africa is poised to expand unabated during the forecast period. During the forecast period, the South African plant protein market is expected to grow. To this extent, it may be noted that Infinite Foods, based out of South Africa, has embarked on a mission to raise awareness of the environmental impact of animal-based protein, decrease South Africa’s dependence on it, and create consumer solutions that replace animal protein with plant protein. The aforementioned objectives of the organization will be achieved by leading the activities of distribution, licensing, and manufacturing of best-in-class plant-based protein products in Sub-Saharan Africa. The plan is to achieve the aforesaid mission by being an enabler for other plant-based food products and later establishing a manufacturing capacity of plant-based food with Africa-grown input crops. This will further expand the South African plant-based protein ingredient, market.

The other factor that is expected to propel the market for plant-based protein ingredients in South Africa is the rising disposable income and the rapid pace of urbanization.

 Thus, as consumers in South Africa realize that their health and balance upkeep is of paramount importance, they have shifted their focus away from traditional means of consuming protein, which is through dairy and various animal products, and are adopting plant-based food products. These products are inclusive of but not limited to, various functional beverages that are fortified with plant-based protein as well as foods whose originally inferior protein content is augmented with various plant-based proteins that inclusive of but not limited to proteins, derived from peas, soy, wheat, rapeseed, hempseed, among others. Further, the aspiration to dine out more is another aspect that will be indirectly responsible for boosting the growth of South Africa’s plant protein market.

Key Developments

• Planet Partnership was founded in 2021. Planet Partnership taps into the potentials of Beyond Meat’s leading technology in plant-based protein development and PepsiCo’s commercial capabilities. The joint venture is to develop, produce and market innovative snacks and beverages made from plant-based protein.
• GoodDot an Indian plant-based startup is taking its plant-based protein initiative on the global stage, forging distribution partners across the Middle East, Africa, North America, and Asia.  GoodDot has entered into a distribution agreement with infinite foods, a platform that brings international plant-based brands into the African market.

COVID-19 Insights

The plant-based protein market in South Africa has witnessed an expansion due to the COVID-19 epidemic because the country's demand for home cooking has surged as a result of the lockdowns. Furthermore, people's concerns for their health and well-being have increased since the outbreak influenced the market. For instance, an initiative by covidX, a proprietary plant-based expression platform to produce recombinant antigens announced a plant-based protein production in collaboration with Cape Biologix. It uses Nicotiana Benthamian plants to produce recombinant proteins in plants. The proteins are produced for the local South African and Sub-Saharan markets. The use of plant-based protein to fight against COVID had become popular, resulting in the growth of the plant-based protein market in South Africa.

Segmentation

• By Source
  • Pea
  • Rapeseed
  • Soy
  • Hempseed
  • Others
• By Form
  • Protein Concentrates
  • Protein Isolates
  • Protein Hydrolysate
• By Application
  • Dietary Supplement
  • Food and Beverages
  • Pharmaceuticals
  • Animal Feed
• By Distribution Channel
  • Online
  • Offline