Report : Middle East & Africa Industrial Starch Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Flavor (Vanilla, Chocolate, Fruit, and Others), Category (Conventional and Sugar Free), Form (Cups and Tubs, Bars and Sticks, and Others), and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others)
At 6.6% CAGR, the MEA Industrial Starch Market is speculated to be worth US$ 13,529.58 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the MEA industrial starch market was valued at US$ 9,202.88 million in 2022 and is expected to reach US$ 13,529.58 million by 2028, registering an annual growth rate of 6.6% from 2022 to 2028. Growing demand for industrial starch in biofuel application and product innovation in industrial starches are the critical factors attributed to the market expansion.
Biofuel has an important role in the field of environmental conservation by mitigating global warming and conserving fossil fuels. Unlike other renewable energy sources, biomass can be processed and converted directly into liquid fuels, called biofuels, to help meet renewable electricity, thermal energy, and transportation fuel needs. Ethanol and biodiesel are the most common biofuels, representing the first generation of biofuel technology. Starch-based feedstocks include grains, such as wheat or corn, and tubers, such as cassava and (sweet) potatoes. These feedstocks comprise long, complex chains of sugar molecules. The starch can indeed be converted to fermentable sugars. The sugar can then be converted to ethanol or drop-in fuels. Many countries have implemented measures to minimize the environmental impact of conventional fossil fuel. Biofuels consumption growth is expected to grow the transportation sector, rising oil prices, and regulations. This significant growth in demand for biofuel is expected to propel the growth of the industrial starch market.
On the contrary, demand and supply gaps hurdles the growth of MEA industrial starch market.
Based on type, the MEA industrial starch market is segmented into native starch and starch derivatives and sweeteners. The starch derivatives and sweeteners segment held 67.0% market share in 2022, amassing US$ 6,167.02 million. It is projected to garner US$ 9,620.94 million by 2028 to expand at 7.7% CAGR during 2022–2028.
Based on source, the MEA industrial starch market is segmented into potato, corn, wheat, cassava, and others. The wheat segment held 29.5% market share in 2022, amassing US$ 2,715.38 million. It is projected to garner US$ 4,061.31 million by 2028 to expand at 6.9% CAGR during 2022–2028.
Based on application, the MEA industrial starch market is segmented into food and beverages, pulp and paper, animal feed, pharmaceuticals, and others. The food and beverages segment held 51.6% market share in 2022, amassing US$ 4,744.19 million. It is projected to garner US$ 6,930.68 million by 2028 to expand at 6.5% CAGR during 2022–2028.
Based on country, the MEA industrial starch market is segmented into South Africa, Saudi Arabia, UAE, and Rest of MEA. Our regional analysis states that the Saudi Arabia captured 32.2% market share in 2022. It was assessed at US$ 2,964.45 million in 2022 and is likely to hit US$ 4,681.53 million by 2028, exhibiting a CAGR of 7.9% during the forecast period.
Key players dominating the MEA industrial starch market are ADM; AGRANA Beteiligungs AG; Cargill, Incorporated; Grain Processing Corporation; Ingredion Incorporated; Roquette Frères; Tate & Lyle PLC; Tereos Group among others.
- In 2022, Royal Avebe launched new multifunctional starch.
- In 2020, Tate & Lyle to acquire tapioca business in Thailand
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