Nigeria Cassava Starch Market, By type (Starch Hydrolysate, Native Starch, Modified starch), Form (Dry, Liquid), Grade (Food, Industrial, Feed), Function (Texturizing, Binding/Adhesion, Gelling, Stabilizing, Thickening, Moisture-Retention, Film Forming Agents, Sizing, Coating), Application (Food & Beverages, Industrial), Market Trends and Forecast to 2027
Market Analysis and Insights: Nigeria Cassava Starch Market
Cassava starch market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 6.1% in the forecast period of 2020 to 2027 and expected to reach USD 118.81 million by 2027. High production of cassava crop owing to supporting weather condition and increasing industrialisation is driving the market growth.
Increasing production of cassava and imposed restriction on cassava starch import in Nigeria is making country a rich source for cassava starch raw material. High availability of the cassava at lower price is increasing its consumption in Nigerian market as well as export in other countries which in result is driving the overall market growth.
This cassava starch market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Nigeria Cassava Starch Market Scope and Market Size
Nigeria cassava starch market is segmented on the basis of type, form, grade, function and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type of starch, the market is segmented into starch hydrolysate, native starch and modified starch. Starch hydrolysate segment is dominating the market as cassava offers high hydrolysis rate over other crop like corn, potato and others. Cassava starch is organic source of rich carbon supply in food application and new trend of organic food is further accelerating the growth of hydrolysate cassava starch market.
- On the basis of form, the market is segmented into dry and liquid. Dry segment is dominating the market due to less expense on powder form for storage and transpiration operation as compared to liquid which is driving the segment growth.
- On the basis of grade, the market is segmented into food, industrial and feed. The food industry is dominating the market owing to increased consumption of cassava starch in food products. The Nigerian government enforced restriction on cassava starch import to promote the local manufacturing of cassava starch which is augmenting the market growth. The agriculture sector is growing at tremendous rate in Nigeria while for industrialisation government is taking initiative which will help sector to grow in future.
- On the basis of function, the market is segmented into texturizing, binding/adhesion, gelling, stabilizing, thickening, moisture- retention, film forming agents, sizing and coating. The texturizing is the dominating segment as cassava starch is majorly used in the food and beverages industry to improve the texture of the food products or beverages. As the cassava starch is majorly used in the food industry in Nigeria the major function of starch is to improve the texture of food to create impression on customer mind.
- On the basis of application, the market is segmented into food & beverages and industrial. Food and beverages segment is dominating the market owing to high consumption in food and beverages products’ application to improve the taste. The demand of cassava starches in food and beverages products is higher due to enhanced taste offered by the cassava starch with added proteins.
Cassava starch Market Country Level Analysis
Cassava starch market is analysed and market size information is provided by type, form, grade, function and application as referenced above.
The increasing production of cassava crops such as it witnessed growth of 7.7 percent in 2017 over previous year 2016 is augmenting the market growth. The growing production of cassava crops required for starch production in Nigeria is attracting the major investments in market from foreign as well as domestic investors.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Growing Government Initiatives to Expand the Production of Starch
Cassava starch market also provides you with detailed market analysis for every country growth in industry with sales, components sales, impact of technological development in cassava starch and changes in regulatory scenarios with their support for the cassava starch market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Cassava Starch Market Share Analysis
Cassava starch market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to Nigeria cassava starch market.
The major players covered in the report are Nsmfoodslimited, Matna Foods LTD, Ingredion Incorporated, Cargill, Incorporated, ADM and Tate & Lyle among other domestic and global players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product developments are also initiated by the companies worldwide which are also accelerating the growth of cassava starch market.
- In November 2019, Henan Doing Mechanical Equipment Co.,Ltd showcased their cassava processing machines in the China Commodities Expo-Nigeria 2019 conducted at Lagos, Nigeria. The company introduced new production technology, new design cassava processing machines and other product offering. Company is expanding their business in Nigeria owing to increased demand of cassava starch in Nigeria market.
- In July 2018, ADM introduced new tapioca starches and tapioca maltodextrin ingredients by partnering with Vedan International Limited. The tapioca starches get derived from the cassava starches produced to meet the demand of customers preferring plant-based starches. Company strengthened their product portfolio which helped them to increase customer base having requirement of plant-based starches.
Partnership, new product launches and other strategies enhance the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for cassava starch through expanded range of size.
Customization Available : Nigeria Cassava Starch Market
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customised to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.