Soy milk

South African soy products market registering robust growth: Report

The soy products market value in South Africa will register a compound annual growth rate (CAGR) of more than 13% by 2017, finds a report by Canadean.

According to the report titled, “The Future of the Soy Products Market in South Africa to 2017”, the market value rose at 12.15% CAGR during 2007-2012, with major contribution coming from the soy desserts category at 14.29%.

Contributions from the soy drinks and soy milk & cream categories were 12.31% and 12.04%, respectively.

During 2007-2012, the volume of soy products market witnessed a growth of 5.5% CAGR, with 11.69% contribution from soy desserts, 9.40% from soy drinks and 5.19% from soy milk & cream.

The market volume will grow at a CAGR of 8% during the forecasted period, while per-capita consumption will rise 8.48% year-over-year by 2017, the report says.

Source: Food Business Review