The Organic Wheat Derivatives Market in Asia Pacific is expected to grow US$ 198,875.36 thousand by 2028 from US$ 138,887.99 thousand in 2021. The market is estimated to grow at a CAGR of 5.3% from 2021 to 2028. The importance of organic food items has been understood in the wake of alarming health issues, coupled with rising consciousness about organic certifications and growing preference for high quality food items. Nowadays, consumers are looking for natural, clean, and simple ingredients with proper labels, which could effectively convey their contents, quality, and intent of the product use. Currently, the consumers are quite concerned about using conventional food products due to their contribution to increasing incidence of health issues. This has encouraged the manufacturers to develop products based on consumer’s expectations.
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A few major primary and secondary sources referred to for preparing this report on organic wheat derivatives market in Asia Pacific are company websites, annual reports, financial reports, national government documents, and statistical database, among others.
Major companies listed in the report are: Cargill, Incorporated, ETEA S.R.L., The Archer Daniels Midland Company, AGRANA Beteiligungs-AG, Manildra Group, Ulrick & Short Limited, Tate & Lyle PLC
The COVID-19 is anticipated to cause a significant economic loss in the Asia-Pacific region. The consequence and impact can be even worse and totally depends on the spread of the virus. The governments of various Asia-Pacific countries are taking possible steps to restrict the spread of the virus by announcing lockdown, which in turn has negatively impacted the revenue generated by the organic wheat derivatives market. The ongoing pandemic has drastically altered the status of the organic wheat derivatives industry and has negatively impacted the growth of the market. The COVID-19 outbreak has distorted operational efficiency and disrupted the value chains due to the sudden closure of national and international boundaries, creating revenue loss and damage. The disruptive value chain has had a negative impact on raw material supply, which, in turn, is impacting the growth of the organic wheat derivatives market. However, as the economies are planning to revive their operations, the demand for organic wheat derivatives is expected to rise worldwide.
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Asia Pacific organic wheat derivatives market is segmented based on type and application. The Asia Pacific organic wheat derivatives market based on type is segmented into starch, gluten, maltodextrin, and others. Starch segment accounted for the highest share in the market in 2020 and maltodextrin in is expected to be fastest growing during forecast period. Based on application, is segmented into food and beverages, pharmaceuticals and nutraceuticals, animal feed, personal care, and others. The food and beverages segment accounted for the highest share in 2020 and animal feed is expected to be the fastest growing during forecast period.
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