The Nigeria Starch Processing Market is experiencing steady growth, fueled by several factors. The country's increasing population and rising consumer demand for processed food products have boosted the demand for starch as a functional ingredient in various food applications. The expanding food and beverage industry further contributes to the market's growth. Additionally, Nigeria benefits from abundant raw materials for starch production, enabling a stable supply chain. Technological advancements in processing techniques enhance efficiency and product quality. Moreover, the government's supportive initiatives to promote agro-processing industries play a crucial role in driving the growth of the starch processing market in Nigeria.
According to Data Bridge Market Research, the Nigeria starch processing market is expected to reach a value of USD 574.11 million by 2030, at a CAGR of 5.2% during the forecast period of 2023 to 2030
“Cumulative demand for starch in the food and beverages industry facilitate market growth”
The Nigeria starch processing market is driven by the increasing demand for starch in the food and beverages industry. Starch is a versatile ingredient used in various food products, including bakery goods, snacks, confectionery, and beverages, as a thickening agent, stabilizer, or texturizer. The growing population and changing consumer preferences for processed and convenience foods are fueling the demand for starch-based products. Additionally, the expansion of the food and beverages industry in Nigeria, coupled with the rising urbanization and disposable income, further drives the market for starch processing in the country.
What restraints the growth of Nigeria Starch Processing Market?
“Ineffective agronomic practices restrain the market growth”
Ineffective agronomic practices serve as a restraint in the Starch Processing market in Nigeria. Poor agricultural techniques and suboptimal crop management can lead to lower yields and reduced quality of starch-producing crops. Inadequate handling of crops during cultivation and post-harvest stages may result in higher contamination rates and processing inefficiencies. Implementing improved agronomic practices, such as proper crop selection, irrigation, and pest management, is crucial to ensure a sustainable and reliable supply of high-quality starch raw materials.
Segmentation: Nigeria Starch Processing Market
The Nigeria starch processing market is segmented based on origin, input crop, application, form, category, and industry.
- On the basis of origin, the Nigeria starch processing market is segmented into imported and domestic.
- On the basis of input crop, the Nigeria starch processing market is segmented into cassava, maize/corn, potatoes, rice, and others.
- On the basis of application, the Nigeria starch processing market is segmented into food grade and non-food grade.
- On the basis of form, the Nigeria starch processing market is segmented into liquid and dry.
- On the basis of category, the Nigeria starch processing market is segmented into conventional and organic.
- On the basis of industry, the Nigeria starch processing market is segmented into food industry, pharmaceutical industry, feed industry, and others.
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Recent Developments in Nigeria Starch Processing Market
- In July 2022, Golden Agri Inputs Ltd, a subsidiary of Flour Mills of Nigeria Plc, introduced the YALWA (Abundance) program in Kaduna State. The initiative aims to develop the maize and soybean value chain, benefiting local farmers. This program was launched following an MoU signing ceremony with the State Government, showcasing the commitment to agricultural development in Nigeria.
- In May 2022, the Greenhills Cassava Farmstead team inaugurated its second scheme at Ihunbo, Ogun State. The farm spans 50 hectares and has received a Certificate of Occupancy from the Ogun State Government. This project demonstrates the team's dedication to expanding cassava cultivation and promoting sustainable agriculture practices in Nigeria.
The Prominent Key Players Operating in the Nigeria Starch Processing Market Include:
- Orient Global Manufacturing (Nigeria)
- Olo Industries Limited (Nigeria)
- Greenhills Farmstead (Nigeria)
- Matna Foods Ltd. (Nigeria)
- Niji Group (Nigeria)
- FMN Plc. (Nigeria)
- Ekcel Farms Limited (Nigeria)
- GIVANAS GROUP (Nigeria)
- Nsmfoodslimited (Nigeria)
- Ifgreen Industries (Nigeria)
- Crest Agro Products Farms. (Nigeria)
- GreenTech Industries Ltd. (Nigeria)
- ACSMIN Nig. (Nigeria)
Above are the key players covered in the report, to know about more and exhaustive list of Nigeria Starch Processing Market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Nigeria Starch Processing 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.
