The Increasing Demand for Processed Foods Among the Masses is Augmenting the Market Growth
The wheat starch market in the GCC region has been experiencing continuous growth. The augmenting demand for processed food products, such as savory snacks, instant noodles and cakes, represents one of the primary drivers resulting in the increasing demand for wheat starch in the food and beverages (F&B) industry. Wheat starch is extensively used as a key ingredient in the processing of various gluten-free bakery and confectionery products. It is also rapidly utilized in liquid food products, such as sauces, dressings, and gravies, to provide a smooth texture and consistency to the end product. In addition to this, the widespread adoption of wheat starch as a natural alternative to other chemical ingredients in the processing of numerous dairy products is providing an impetus to the market. Moreover, wheat starch is also a popular ingredient in the production of meat and meat by-products, such as sausages and processed meats, to enhance their texture and taste, which is fueling the market. Furthermore, the cost-effectiveness and versatility of the product as a binding agent, thickener, and stabilizer is also propelling the demand further.
The Escalating Demand for Halal-Certified Ingredients is Stimulating the Market Growth
The wheat starch market in the GCC region is also driven by the growing demand for halal-certified food and food ingredients. Halal certification is a requirement for food products to be considered permissible for consumption under Islamic law due to the predominant Muslim population in the GCC region with religious beliefs and practices mandating the consumption of halal food. Due to its halal certification, wheat starch is increasingly favored by food manufacturers in the GCC region catering to the rising demand for halal food products. In addition to the Muslim population, the popularity of halal products is also on the rise among tourists and non-Muslim residents in the region, which is further providing a boost to the market for halal-certified ingredients, such as wheat starch. This trend can be attributed to the growing perception of halal products being healthier and safer for consumption, and the rising awareness regarding ethical food production practices among consumers.
Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. The GCC wheat starch industry is concentrated due to the presence of a few manufacturers. The volume of new entrants is moderate in the wheat starch industry due to low product differentiation and switching cost, low market growth, concentrated nature of the market and the need for huge investments.
- What is Wheat Starch?
GCC Wheat Starch Market Trends:
The global market is primarily driven by the growing awareness regarding various health benefits associated with wheat starch. This can be attributed to the shifting consumer preference for natural and healthier food, including low-fat and high fiber products. In line with this, the increasing concerns regarding gluten sensitivity among individuals is resulting in the higher sales of gluten-free products, thereby impacting the market positively. Additionally, considerable rise in foodservice establishments, such as restaurants, hotels, and catering businesses, in the GCC region is providing an impetus to the market. Moreover, continual technological advancements in wheat starch processing technologies are enabling the development of new and innovative wheat starch-based byproducts, which, in turn, is propelling the market. In addition to this, an enhanced focus on sustainable development is resulting in a higher product uptake in numerous industrial applications. The market is further driven by the increasing demand for wheat starch in numerous textile processing applications, along with considerable growth in the textile sector. Apart from this, the emerging trend of natural and organic food consumption among the masses is also creating lucrative growth opportunities in the market. Furthermore, the flourishing bakery and confectionary industry in the GCC region is acting as a significant growth-inducing factor for the market. Also, the increasing popularity of functional food and beverages among the health-conscious consumers seeking added nutritional value is creating a positive market outlook. Some of the other factors contributing to the market include favorable government initiatives promoting wheat starch production, rising demand for processed foods, higher uptake of halal-certified ingredients and extensive research and development (R&D) activities.Key Market Segmentation:
The publisher provides an analysis of the key trends in each segment of the GCC wheat starch market, along with forecasts at the country level from 2023-2028. Our report has categorized the market based on end use.End Use Insights:
- Food and Beverages
- Paper and Textile
- Pharmaceuticals
- Feed
- Others
Country Insights:
- Saudi Arabia
- UAE
- Others
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the GCC wheat starch market. Some of the companies covered in the report include:
- Middle East Food Solution Company (MEFSCO)
- Almasirah International
- Delta Food Industries FZC
- Gelimax International Group
Key Questions Answered in This Report:
- How has the GCC wheat starch market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the GCC wheat starch market?
- What is the impact of each driver, restraint, and opportunity on the GCC wheat starch market?
- What is the breakup of the market based on the end use?
- Which is the most attractive end use in the GCC wheat starch market?
- What is the competitive structure of the GCC wheat starch market?
- Who are the key players/companies in the GCC wheat starch market?
Table of Contents
Companies Mentioned
- Middle East Food Solution Company (MEFSCO)
- Almasirah International
- Delta Food Industries FZC
- Gelimax International Group
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 132 |
Published | June 2023 |
Forecast Period | 2022 - 2028 |
Estimated Market Value ( USD | $ 178.7 Million |
Forecasted Market Value ( USD | $ 214.4 Million |
Compound Annual Growth Rate | 3.1% |
Regions Covered | Middle East |
No. of Companies Mentioned | 4 |