The Potato Starch Market is estimated to be valued at USD 4.3 billion in 2022. It is projected to reach USD 5.2 billion by 2027, recording a CAGR of 3.7% during the forecast period.
The global potato starch market has been influenced by some of the macroeconomic and microeconomic factors witnessed in some key countries. This would prove strong enough to drive the market significantly in terms of value sales during the forecast period. With the rise in demand and preference for natural food ingredients, the trend of clean-label and plant-based products has significantly boosted the utilization of potato derivatives in the food industry. Potato starch is used as a binder, and this enhances its properties, such as smoothness, hardness, gloss, and whiteness.
North America is projected to reach USD 479.86 million during the forecast period.
In 2021, North America accounted for a market share of 10.48% in the global potato starch market. The North American potato starch market is completely driven by the US market. The US potato starch industry has witnessed technological advancement, which has increased its usage in various industries.
In the US, potato starch is primarily used in canned soups and in blends where its thickening power is exploited, especially for fill viscosity. It is also used as a base for gelling agents in confections, for thickeners in products such as pastry and pie fillings, and in instant puddings. The growing trend of ready-to-eat meals and processed food is also driving the potato starch market in the region. Potato starch is frequently used in food applications due to its functional properties.
Europe dominated the potato starch market, with a value of USD 1.9 billion in 2021; it is projected to reach USD 2.4 billion by 2027, at a CAGR of 3.7% during the forecast period.
Today Europe is the world’s leading producer of potato starch, with European potato starch being exported to all corners of the globe. Europe accounted for a market share of 60.7% in the global modified starch market, in 2021. The European starch industry has a range of starch offerings, ranging from native to modified (chemically and physically) and liquid and solid sweeteners. The versatility of potato starches enables their application as ingredients and functional supplements in the food, non-food, and feed industries.
In terms of the end-use application industry, there is no stand-out trend. However, the food industry is projected to witness the fastest growth with the newer variations of modified starch, new products, and a range of applications.
The key players in this market include Tate & Lyle (UK), Emsland (Germany), Ingredion Incorporated (US), and Avebe (Netherlands).
