The sweeteners market in Africa stood at 20.19 million metric tons in 2023. The market has experienced fluctuations over the past decade, with a notable decline in 2020 followed by steady recovery. The YoY variation for 2023 was 0.62%, aligning with the 0.54% CAGR from 2018-2023, indicating moderated growth. Looking forward, forecasted growth predicts a 2.51% increase by 2028 with a 0.5% forecasted CAGR.
Future trends to watch for:
- Increasing demand for natural sweeteners driven by health-conscious consumers.
- Technological advancements in sweetener production for cost and efficiency improvements.
- Continued urbanization and rising disposable incomes potentially boosting consumption.