The Cassava Starch Market revolves around producing and utilizing starch derived from cassava roots. Cassava starch is a natural and cost-effective alternative, contributing to Nigeria's prominence in the global market. Abundant cassava production has led to heightened exports and increased foreign revenue. Government support and investments in research and infrastructure have further propelled the industry's success, positively impacting farmers, processors, and the overall economy.
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% from 2023 to 2030.
"Growing demand for industrial applications drive the market growth"
The growing demand for cassava starch in industrial applications is driven by its remarkable versatility and suitability across various sectors, including food and beverages, paper, textiles, pharmaceuticals, and adhesive manufacturing. Recognized for its natural properties, cassava starch emerges as a compelling alternative to other starch sources. This surge in demand underscores the increasing preference for cassava starch, positioning it as a pivotal driver propelling the market's current growth trajectory in response to its wide-ranging and advantageous industrial applications.
What restraints the growth of the Nigeria cassava starch market?
" Agricultural dependence hamper the market growth"
Agricultural dependence poses a significant hindrance to the cassava starch market. Fluctuations in cassava crop yields, influenced by unpredictable weather conditions and agricultural practices, directly impact the market's stability. The market relies heavily on successfully cultivating healthy and high-yielding cassava plants, predominantly grown in tropical and subtropical regions. As smallholder farmers hold a crucial role in cassava cultivation, any disruptions or challenges they face due to external factors can lead to inconsistencies in supply, affecting market dynamics negatively.
Segmentation: Nigeria Cassava Starch Market
The Nigeria cassava starch market is segmented on the basis of type, appliaction, form, grade, and function
- On the basis of type, the Nigeria cassava starch market is segmented into starch hydrolysate, native starch, and modified starch
- On the basis of application, the Nigeria cassava starch market is segmented into food and beverages and industrial
- On the basis of form, the Nigeria cassava starch market is segmented into dry and liquid.
- On the basis of grade, the Nigeria cassava starch market is segmented into food, industrial and feed
- On the basis of function, the Nigeria cassava starch market is segmented into texturizing, binding/adhesion, gelling, stabilizing, thickening, moisture-retention, film forming agents, and sizing and coating
To know more about the study, visit https://www.databridgemarketresearch.com/ko/reports/nigeria-cassava-starch-market
The Prominent Key Players Operating in the Nigeria Cassava Starch Market Include:
- 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)
Above are the key players covered in the report, to know about more and exhaustive list of Nigeria cassava starch market companies, contact: https://www.databridgemarketresearch.com/ko/contact
Research Methodology: Nigeria Cassava Starch Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. 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. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
