LAMEA Corn Syrup Market Size, Share & Industry Trends Analysis Report By Application (Food & Beverages and Pharmaceuticals), By Distribution Channel (B2C and B2B), By Type, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Latin America, Middle East and Africa Corn Syrup Market would witness market growth of 6.2% CAGR during the forecast period (2022-2028).
Currently, a multi-step bioprocess is used to produce corn syrup. First, a solution of maize starch and water is mixed with the enzyme -amylase. The enzyme is recovered from the fluid in which the bacteria were grown and is released by several species of the bacterium genus Bacillus. The glucoamylase enzyme also referred as amylase, is added after the enzyme begins to break down the starch into oligosaccharides that are then broken down into glucose molecules. The fungus Aspergillus produces the enzyme glucoamylase, which is separated from the solution in which the fungus is cultured. By passing the glucose down a column that is filled with the enzyme D-xylose isomerase, which is extracted from the growth medium of any number of bacteria, the glucose can then be converted into fructose.
To meet its demands for pharmaceutical products, Africa primarily depends on imports. In the estimated $14 billion pharmaceutical sectors of sub-Saharan Africa as of 2019, up to 90% of the medications used were imported. Furthermore, although only 0.1% of the world's vaccinations are produced in Africa, it accounts for nearly 25% of the vaccine demand. 99 % of vaccine doses are imported into Africa, and of the 1% (12 million doses) that are domestically manufactured, the majority are only used for the last fill-and-finish procedures.
As of 2019, there were about 375 pharmaceutical producers on the continent. More than 75% of Africa's pharmaceutical imports come from other countries. Due to this, the penetration of new players across the regional pharmaceutical industry is estimated to rise.
The Brazil market dominated the LAMEA Corn Syrup Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $176.5 Million by 2028. The Argentina market is experiencing a CAGR of 6.7% during (2022 - 2028). Additionally, The UAE market would showcase a CAGR of 5.9% during (2022 - 2028).
Based on Application, the market is segmented into Food & Beverages and Pharmaceuticals. Based on Distribution Channel, the market is segmented into B2C and B2B. Based on Type, the market is segmented into High Fructose, Light, Dark, and Solid. The report also covers geographical segmentation of Corn Syrup market. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Corn Syrup Market is Predict to reach $11.1 Billion by 2028, at a CAGR of 4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ACH Food Companies, Inc. (Karo), Grain Processing Corporation (Kent Corporation), Global Sweetners Holdings Ltd., Archer Daniels Midland Company, Cargill Corporation, Ingredion, Incorporated, Tate & Lyle PLC, and COFCO Corporation.
Scope of the Study
Market Segments Covered in the Report:
- Food & Beverages
By Distribution Channel
- High Fructose
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- ACH Food Companies, Inc. (Karo)
- Grain Processing Corporation (Kent Corporation)
- Global Sweetners Holdings Ltd.
- Archer Daniels Midland Company
- Cargill Corporation
- Ingredion, Incorporated
- Tate & Lyle PLC
- COFCO Corporation
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