The Global Starch And Starch Product Market is subject to witness a substantial growth due to increase in number of application in different vertical such as packaged foods & beverages, and pharmaceuticals sector. Growing demand for starch derivatives as a thickening agent, stabilizer, emulsifier and binder is expected to drive the growth of market over the forecast period. Increasing consumer awareness in regards to health benefits associated with starch and starch product is propelling market demand further.
Changing food habits and growing preference towards healthy appetite, particularly among young population are likely to play critical role in robust market growth, in the recent years. Increasing adoption of starch and starch derivatives as a natural sweetener in energy drinks and non-carbonated soft drinks will increase market penetration. Globally, the market is predicted to generate massive revenue over next seven years, providing numerous opportunities for market players to invest for research and development in the starch and starch product market.
Starch is considered as a versatile product with a variety for processed food & beverages and pharmaceuticals. Increasing adoption of starch and starch products as thickening agent, binding agent, filler and taste enhancer due to its functional properties are anticipated to boost market demand in the upcoming years. Increasing demand for starch in canned soups, instant dessert mixes, dessert puddings, processed meats, sauces, and bakery products is projected to drive market growth over the next seven years. Starch is also converted into sugar. Thus, numerous manufacturers are using starch derivatives for production of natural sweeteners and syrups.
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Starch is increasingly used to feed enzymes for production of monosodium glutamate, which is a widely popular taste enhancer. Use of starch and starch products in non-food industries is on the rise as well. Starch and starch products are gaining traction in various end-user industries such as textile sector, paper & plywood sector, and adhesive industries. Pharmaceutical industry is one considered as one of the faster growing application sector in starch and starch product market. In addition. Strong economic growth and rising per capita income in developing economies across the globe are expected to favor market expansion over the forecast period.
The market is broadly categorized into five major segments based on the product type such as maize (corn) starch, manioc (cassava) starch, potato starch, wheat starch and insulin. The maize (corn) starch is considered as one of the fastest growing segment in the market with substantial revenue generation in the last few years. Growing popularity of the maize (corn) starch segment is attributed to the increasing consummation in the North America region. The wheat starch segment has also witnessed substantial growth due to growing demand as a thickening agent and increasing use as a stabilizer in food products such as food sauces and dessert puddings.
The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in agriculture sector, changing food habits, increasing preference towards health diets and existence of well-established manufacturing infrastructure. Asia-Pacific region is predicted to hold major market share in the market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with ever-growing population, improved living standards, strong economic growth, and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the starch and starch product market are The Archer Daniels Midland Company, Roquette Freres Co., Cargill, Inc., Emsland Group GmbH, Ingredion, Inc., Agrana Group AG, Avebe U.A., Tate & Lyle plc, Grain Processing Co., and Global Bio-chem Technology Group Company Ltd.
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