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Nigeria Cassava Starch Market – Industry Trends and Forecast to 2030

Food & Beverage

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Nigeria Cassava Starch Market – Industry Trends and Forecast to 2030

  • Food & Beverage
  • Upcoming Report
  • Nov 2023
  • Country Level
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Nigeria Cassava Starch Market – Industry Trends and Forecast to 2030

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2022–2030
Diagram Market Size (Base Year) USD 126.65 USD Million
Diagram Market Size (Forecast Year) USD 163.07 USD Million
Diagram CAGR %

Major Markets Players

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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 and Beverages, Industrial) – Industry Trends and Forecast to 2030.

Nigeria Cassava Starch Market Analysis and Size

The cassava starch market is propelled by a convergence of factors spanning various industries. In the realm of food and beverages, cassava starch finds extensive use as a versatile ingredient, functioning as a thickener, stabilizer, and enhancer in an array of products ranging from soups to bakery items. Beyond the culinary domain, its applications extend into industrial sectors such as textiles, where it is employed for fabric sizing, and the paper industry, where it acts as an adhesive.

Data Bridge Market Research analyses that the Nigeria cassava starch market which was USD  126.65 million in 2022, will reach USD 163.07 million by 2030, and is expected to undergo a CAGR of 3.21% during the forecast period. “Starch hydrolysate” dominates the type segment of the cassava starch market due to its wide application in different industries for instance it is used as a sweeteners, thickeners, and stabilizers in the food and beverage industry, pharmaceuticals, and other sectors due to its versatile properties. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2023 to 2030

Base Year

2022

Historic Years

2021 (Customizable to 2015-2020)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

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 and Beverages, Industrial)

Countries Covered

U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, NIGERIA, Saudi Arabia, Egypt, South Africa, Israel, and Rest of Middle East and Africa

Market Players Covered

Tate & Lyle (U.K.), Cargill, Incorporated (U.S.), Ingredion Incorporated (U.S.), AGRANA Beteiligungs-AG (Austria), Devex (U.S), Visco Starch (India), Vaighai Agro (India), Aryan International. (India), Psaltry International Limited (Nigeria), Ekta International (India), Chorchaiwat Industry CO.,LTD (Thailand), Lentus Foods & Agro Ltd (Nigeria), Matna Foods Ltd. (Nigeria),  KengSeng group of company (Thailand), Tapioca Vietnam (Vietnam), SPAC Starch Products (India), ADM (U.S), Chaiwat Industry Company Limited (Thailand)

Market Opportunities

  • Growth in the deployment of advanced technologies
  • High cost of raw material
  • Rising research and development opportunities

Market Definition

Cassava starch is a carbohydrate-rich, fine white powder extracted from the tuberous roots of the cassava plant. As a versatile and gluten-free ingredient, it serves multiple purposes in various industries. Widely employed in the food and beverage sector, it acts as a thickening agent, stabilizer, and texture enhancer in diverse products. In addition, cassava starch finds applications in industries such as textiles, pharmaceuticals, and biodegradable plastics, contributing to adhesives, tablet formulations, and eco-friendly materials. Its prevalence in the market is driven by its adaptability, providing a crucial source of starch with numerous industrial applications, making it a significant player in the global starch market.

Nigeria Cassava Starch Market Dynamics

Drivers

  • Rapid expansion of market due its demand from various applications

 Rising technological advancement and modernisation in Nigeria has resulted in advanced product innovations and diversification in various applications which directly impacts the market growth. Growing demand for confectionaries and ready to eat items among customer ads to the market growth as cassava starch is a major ingredient used in number of food products. Growing demand from pharmaceutical as well as adhesive paper industry has resulted in market expansion. Rising cases of diabetes in the region has shifted the consumer preference for artificial sweetener which in turns led to the market growth.

  •  Versatility and applications

The diverse applications of cassava starch in food, beverages, textiles, pharmaceuticals, and biodegradable plastics drive its demand. Cassava starch boasts remarkable versatility, finding widespread applications across diverse industries. In the food and beverage sector, it serves as a crucial thickening agent, enhancing the texture of soups, sauces, and baked goods such as bread and pastries. The adhesive industry benefits from cassava starch as a natural component in adhesive production. The starch is also gaining traction in eco-friendly practices, being explored for use in biodegradable packaging materials.

 Opportunities

  • Research and innovation  

Continued research and technological advancements present opportunities to enhance extraction methods, improve product quality, and explore new applications. Researchers are actively engaged in optimizing processing techniques, striving for increased efficiency and cost-effectiveness in extracting starch from cassava. One notable area of innovation lies in the development of cassava starch-based biodegradable packaging materials, aligning with global efforts to reduce environmental impact.

  •   Global market expansion

Increasing international trade and globalization provide opportunities for cassava starch producers to tap into new markets and meet evolving consumer demands. The food and beverage industry is a major contributor to the expansion of the cassava starch market. As consumers seek healthier and gluten-free alternatives, cassava starch is gaining popularity as a functional ingredient in various food products, including baked goods, snacks, and gluten-free formulations.

Restraints/Challenges

  •  Agricultural dependence

The cassava starch market is susceptible to fluctuations in cassava crop yields, which can be influenced by weather conditions and agricultural practices. The primary source of cassava starch is the cassava plant, a tuberous root crop. The market's foundation lies in the successful cultivation of healthy and high-yielding cassava plants, which are grown in tropical and subtropical regions worldwide. Smallholder farmers play a pivotal role in cassava cultivation. Their livelihoods are intricately linked to the success of cassava farming. The market's stability and growth depend on the dedication and expertise of these farmers who manage cassava crops.

  • Processing technology

Challenges associated with optimizing and upgrading processing technologies may affect the efficiency and cost-effectiveness of cassava starch extraction. Adhering to manufacturer guidelines and working with experienced HVAC professionals can provide valuable insights and ensure proper maintenance practices are followed. Also, the lack of favorable reimbursement scenarios and technology penetration in the developing economies, heavy custom duty imposed on medical devices, and lack of suitable infrastructure in low- and middle-income countries are projected to challenge the market in the forecast period of 2023-2030.

This cassava starch market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the cassava starch market contact Data Bridge Market Research for an Analyst Brief, our team will help you make an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market. It delivers information by considering the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Nigeria Cassava Starch Market Scope

The cassava starch market is segmented on the basis of type, form, grade, function and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

Application

  • Food and Beverages
  • Industrial

Form

  • Powder
  • Liquid

Grade

  • Food
  • Industrial
  • Feed

Function

  • Texturizing
  • Binding/Adhesion
  • Gelling
  • Stabilizing
  • Thickening
  • Moisture- retention
  • Film Forming Agents
  • Sizing
  • Coating

Competitive Landscape and Cassava Starch Market Share Analysis

The cassava starch market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, NIGERIA presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width, and breadth, application dominance. The above data points provided are only related to the companies' focus related to the cassava starch market.

Some of the major players operating in the cassava starch market are:

  • Tate & Lyle (U.K.)
  • Cargill, Incorporated (U.S.)
  • Ingredion Incorporated (U.S.)
  • AGRANA Beteiligungs-AG (Austria)
  • Devex (U.S)
  • Visco Starch (India)
  • Vaighai Agro (India)
  • Aryan International. (India)
  • Psaltry International Limited (Nigeria)
  • Ekta International (India)
  • Chorchaiwat Industry CO.,LTD (Thailand)
  • Lentus Foods & Agro Ltd (Nigeria)
  • Matna Foods Ltd. (Nigeria)
  • KengSeng group of company (Thailand)
  • Tapioca Vietnam (Vietnam)
  • SPAC Starch Products (India)
  • ADM (U.S)
  • Chaiwat Industry Company Limited (Thailand)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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FREQUENTLY ASK QUESTIONS

Major companies in the Nigeria cassava starch market are Nsmfoodslimited, Matna Foods LTD, Ingredion Incorporated, Cargill, Incorporated, ADM, and Tate & Lyle among other domestic and global players.
The growth rate of the Nigeria cassava starch market is 3.21% in the forecast period by 2030.
The rapid expansion of the market due to its demand from various applications & diverse applications of cassava starch in food, beverages, textiles, pharmaceuticals, and biodegradable plastics are the growth drivers of the Nigeria cassava starch market
Type, form, grade, function, and application are the factors on which the Nigeria cassava starch market research is based.
The Nigeria cassava starch market size will be worth USD 163.07 million by 2030.
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