Nigeria Starch Processing Market is expected to grow with a CAGR of 5.2% in the forecast period of 2023 to 2030. The years considered for the study are as mentioned below.
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Nigeria starch processing market is a highly consolidated market, which includes a specific number of key players. The market has witnessed increased strategic developments owing to favorable market scenarios.
The major players in Nigeria starch processing market are introducing a strong range of product providers and adopting strategic initiatives such as partnership, acquisition, business expansion, award, and recognition into the market. This helped companies to maximize sales with an enhanced product portfolio.
For instance,
- In January 2022, Flour Mills of Nigeria Plc and The End Fund collaborated to end neglected tropical diseases across Nigeria. FMN makes this investment for improving health in the county, and it will specifically support the END Fund in delivering tens of thousands of treatments to those most affected by onchocerciasis, lymphatic filariasis, schistosomiasis, and soil-transmitted helminthiasis, providing relief from the suffering, disability and poor health caused by these diseases
FMN Plc. is the dominating player in Nigeria starch processing market. The other key players existing in the market are Orient Global Manufacturing, Olo Industries Limited, Greenhills Farmstead, Matna Foods Ltd., Niji Group, Ekcel Farms Limited, GIVANAS GROUP, Nsmfoodslimited, Ifgreen Industries, Crest Agro Products Farms., GreenTech Industries Ltd., and ACSMIN Nig. among others.
FMN Plc.
FMN Plc., founded in 1960, has headquarters in Lagos State, Nigeria. The company FMN group not only focuses on providing the best quality flour but they are also on the supply chain of food, agro-allied, and logistics and support businesses. The company offers business segments, including food, agro-allied, support services, and sugar, and agro-allied is the market-focused segment. The company offers product categories, including feed & proteins, edible oils & fats, starches, sweeteners, agro-inputs & distribution, and starches in the market-focused categories.
For instance,
- In April 2022, FMN group launched Sunti Brown Sugar, owned and operated by Golden Sugar Company, a subsidiary of the FMN Group. Sunti Brown Sugar, made from sugarcane grown, harvested, and processed locally, is fortified with Vitamin A and provides additional nutritional benefits, creating a consumer affinity for made-in-Nigeria products.
The company has a wide presence across Nigeria.
Matna Food Ltd
Matna Food Ltd, founded in 1998, has headquarters in Ondo, Nigeria. The company focuses on processing cassava roots into international standard multi-use cassava starch. The company offers product categories, including food-grade starch, industrial-grade starch, and food grade starch, industrial-grade starch and market-focused categories. The company has a presence across Nigeria.
Crest Agro Products Farms
Crest Agro Products Farms, founded in 2013, has headquarters in Kogi State, Nigeria. The company provides a wide range of cassava starch for the food processing, pharmaceutical, and textile industries. The company offers product categories, including cassava starch, cassava tubers, and cassava starch, which is the market-focused category.
For instance,
- In June 2017, FAFIN was a long-term, tailored finance and associated technical assistance to high growth commercially attractive agricultural small and medium scale enterprises. FAFIN has got 65.9 USD million in committed capital from its second close in June 2017. As Crest Agro is a direct beneficiary of FAFIN's capital equity. This eventually benefitted Crest Agro.
The company has a presence across Nigeria.
