Nigeria Modified Starch Market is expected to grow at a CAGR of 5.1% in the forecast period of 2020 to 2027. The years considered for study are as mentioned below.
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Nigeria modified starch market is a considerably growing market, which includes specific number of key players as well as local players. The market has witnessed increase in various strategic developments owing to favourable market scenario.
The major players dealing in Nigeria modified starch market are introducing strong range of product portfolio. This helped company to maximize the sales with enhance product portfolio. For instance, In September 2018, Cargill, Incorporated., introduced label-friendly potato starches with new range of products. The specially designed starches are getting used in meat alternatives, meat and culinary products to provide superior texture. The new label-friendly starches are part of SimPure brand which helped the company to increase customer base..
Cargill, Incorporated, is the dominating player in the modified starch market. The other key players existing in the market includes ADM, Matna Foods Ltd, Ingredion Incorporated, Roquette Frères, and Tate & Lyle among others.
Cargill, Incorporated headquartered in Minnesota, U.S. which was founded in 1865. The company performs its business from segments such as animal nutrition & protein, food ingredients & applications, origination & processing, industrial & financial services. The products offered are agriculture, food and nutrition products to consumers for sustainability and safety as well as provides helps for risk management. They are even focused towards increasing production capacity to target new regions. The company has product categories such as agriculture, animal nutrition, beauty, bioindustrial, food & beverage, industrial, foodservice, meat & poultry, transportation, pharmaceutical, risk management in which food & beverage falls into market focused category.
The company has wide Nigeria presence across the globe such as Asia-Pacific, Europe, Latin America, Middle East & Africa, North America. In addition to it, the company also generates its revenue from the various subsidiary companies such as NatureWorks LLC, (U.S.), FRONTIER AGRICULTURE LTD (U.K.), Cargill Cocoa & Chocolate (U.S.), OPX Biotechnologies, Inc. (U.S.), Alvean (Switzerland) among others.
ADM headquartered in Illinois, U.S. which was founded in 1902. The company performs its business from segments such as origination, oilseeds, carbohydrate solutions, nutrition and other. The company is producer of the nutritional ingredients required for animal and human nutrition. The market focused products are derived from nutrition business segment. The company is investing huge amount of capital to develop new products for the market. The company includes food & beverage, animal nutrition, industrials, fuel, farmer services, financial services and logistics as products & services categories.
The company has wide Nigeria presence across the globe such as Europe, Middle East & Africa, North America, South-America, and Asia-Pacific. In addition to it, the company also generates its revenue from the various subsidiary companies such as WILD Flavors, Inc.(U.S.), ADM International Sàrl(Switzerland), ADM Investor Services, Inc.(U.S.), Crosswind Industries, Inc.(U.S.), Golden Peanut and Tree Nuts S.A. (U.S.) among others.
Matna Foods Ltd
Matna Foods Ltd has headquartered in Akure, Nigeria and it was founded in 1998. The company has a strong production of cassava starch. The company is an Agro-allied industry formed to produce high-grade cassava starch for local market.
The company has strong presence Nigeria which helped them acquire major base of Nigerian customers.
Nigeria Modified Starch Market – Industry Trends and Forecast to 2027