MEA Starch Market: Introduction
The revenue generated from the MEA starch market is estimated to value over US$ 1.7 Bn in 2020, which is projected to grow at a CAGR of 4.7%, to surpass US$ 2.7 Bn by 2030.
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Skyrocketed Demand for Processed Food Amps Up Market Growth
The starch finds large applications in the food industry. Processed food manufacturers have been increasing demand for starch, owing to its ability and versatile properties. The starch is extracted from various cereals, tubers, and root crops; of these, ~60% is used in the food industry. The food application includes the use of starch in bakery products, sauces, soups, confectionery, sugar syrups, ice cream, snack foods, meat products, baby foods, fat replacers, coffee whitener, beer, and soft drinks. Collectively, the majority of the demand for starch accounts from the food industry, which is anticipated to propel the MEA starch market in near future. Emerging food industry across MEA and introduction of innovative processed food products on retail shelf are likely to fuel the growth of the starch market across the region.
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In the United Arab Emirates (UAE), at least three major tradeshow expositions are held annually. In these tradeshows, all international key players launch their new ingredients and food products. Every year, new starch and its derivatives are introduced in these tradeshows that are used in the bakery and confectionery goods.
Efficient Distribution Network Enhances Accessibility
The demand for starch among urban dwellers, such as in GCC countries, continues to rise for food as well as non-food applications. Increased demand has encouraged communication between producers and urban consumers, which has led to the development of distribution network. Efficient supply chain delivers high-quality starch products to reach the urban market at economical prices as compared to other alternatives. Hence, in order to survive and thrive in a competitive market, new entrants have to develop efficient distribution channel for winning in the MEA starch market.
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