Nigeria Modified Starch Market grows at a CAGR of 5.6% in the forecast period 2022-2029.
COVID-19 Impact on Modified Starch Market
The pandemic has had an impact on every sector of the economy. During the first wave, the protein-based fat replacer market had taken a hard hit. During that time, most manufacturers experienced sluggish deals. The Pandemic had compelled consumers to increase their consumption of health-promoting products. The awareness and demand for protein-based fat substitutes began to grow, and it has since become a critical result of the fat substitutes market. After the pandemic era, this market is expected to be on track.
Recent Development
Ø Henan Doing Mechanical Equipment Co., Ltd displayed their modified processing machines at the China Commodities Expo-Nigeria 2019 in Lagos, Nigeria in November 2019. The company introduced new production technology, modified processing machines with new designs, and other product offerings. The company is expanding its operations in Nigeria as a result of increased demand for modified starch in the Nigerian market.
Ø ADM partnered with Vedan International Limited in July 2018 to introduce new tapioca starches and tapioca maltodextrin ingredients. Tapioca starches are derived from modified starches, which are produced to meet the demand of customers who prefer plant-based starches. The company expanded their product portfolio, which enabled them to expand their customer base that required plant-based starches.
Market Analysis & Insights: Nigeria Modified Starch Market
Ø Data Bridge Market Research analyses that the modified starch market which was valued at USD 49.23 million in 2021 and is expected to reach the value of USD 76.13 million by 2029, at a CAGR of 5.6% during the forecast period. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and consumer behaviour.
Ø The growth in the utilization of starch for industrial purpose for instance textile industry, paper industry, pharmaceutical industry and other industry have led the development of new modified starches with various enzymatic and chemical methods. Corn starch is majorly used among other starch of rice, roots and tubers and others. The growing production of raw material crops required for starch production in Nigeria is attracting the major investments in market from foreign as well as domestic investors.
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Nigeria Modified Starch Market Share Analysis
Ø 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 modified starch market.
Ø Nigeria modified starch market report gives explanation about what market definition, classifications, applications, engagements and market trends are and acts as a window to the Nigeria modified starch market industry. The report also gives details regarding the actions of major players such as product launches, joint ventures, developments, mergers and acquisitions and respective effects in terms of sales, import, export, revenue and CAGR values for the Nigeria modified starch market industry. This market report is a considerable document for every market enthusiast, policymaker, investor, and market player. Global Nigeria modified starch market research report is a great source of getting information for the major happenings and industry insights which helps succeed in this competitive age.
Ø An international Nigeria modified starch market report consists of basic, secondary, and advanced information associated with the global status, recent trends, market size, sales volume, market share, growth, future trends analysis, segment and forecasts from 2021 - 2028. This business report is prepared by taking into consideration the client’s requirements with respect to the market type, size of the organization, accessibility on-premises and the end-users’ organization type, and availability at global level in areas such as North America, South America, Europe, Asia-Pacific, Middle East and Africa. The persuasive Nigeria modified starch market report supports in adjusting the production depending on the conditions of demand in the market which avoids the wastage of goods.
Nigeria Modified Starch Market Scope and Market Size
Ø On the basis of form, the market is segmented into dry and liquid. In 2019, 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.
Ø On the basis of function, the market is segmented into thickeners, binders, stabilizers, emulsifiers and others. The modified starch, thickeners is the dominating segment as thickeners are majorly used in the food and beverages industry to thicken the food products or beverages. It is used to thicken the gravies, baby foods, soups, breakfast gruels and others applications. The new benefits of modified starch as a thickening agent are also driving its demand in the Nigerian as well as global market.
Ø On the basis of modification type, the market is segmented into enzymatically modification and physical modification. The enzymatically modified starches have competitive advantage of low cost which is driving the segment growth.
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Nigeria Modified Starch Market Country Level Analysis
The countries covered in the compression therapy market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa(MEA), Brazil, Argentina and Rest of South America as part of South America.
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Nigeria Modified Starch Market is Growing with CAGR of 5.1% in the Forecast Period of 2020-2027
Key Players Nigeria Modified Starch Market
Ø Nsmfoodslimited
Ø Matna Foods Ltd.
Ø ALFA LAVAL
Ø Ingredion Incorporated
Ø Roquette Frères
Ø Cargill
TOC of the report
Chapter One: Introduction
Chapter Two: Market Segmentation
Chapter Three: Market Overview
Chapter Four: Executive Summary
Chapter Five: Premium Insights
Get TOC details from here: https://www.databridgemarketresearch.com/toc/?dbmr=nigeria-modified-starch-market
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