info.afrindex.com
China-Africa Trade Information Service
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According to global data, the South African savory snacks sector is expected to grow from $1.13 billion in 2017 to $1.35 billion in 2022, with an annual growth rate of 7.1%.
In volume terms, the sector is expected to grow from 157.8m kg in 2017 to 184.9m kg by 2022, registering a CAGR of 3.2% with the potato chips category forecast to grow from 38.1% in 2017 to 40.1% in 2022.
The sugar confectionery category is expected to reach $642.5m by 2023, growing at a CAGR of 7.4% during 2018–2023.
With a value of $157m in 2018, gums and jellies is the largest segment in the South African sugar confectionery category.
The South African population is expected to grow from 57.7 million in 2018 to 62.3 million by 2023.
The middle class is expected to increase its share over the next few years, which will naturally lead to an increase in the consumption of snacks, confectionery and French fries.