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 Deserts, 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 said.
