The starch recovery systems market is estimated at USD 256 million in 2018 and is projected to reach USD 333 million by 2023, at a CAGR of 5.4%. Rapid urbanization, changing lifestyles, and higher disposable incomes of individuals have positively impacted the demand for processed potato products. This has, in turn, directly impacted the growth of the starch recovery systems market. The rising demand from the potato processing industry to recover the starch lost in potato wastewater has led to an increase in demand for starch recovery systems.
Various processing companies and manufacturers are focusing on the expansion of their potato processing production capabilities to cater to the growing demand for potato products among consumers. For instance, Cavendish Farms (US) announced its plans to construct a new potato processing plant in Lethbridge, Alberta, by 2019.
Based on component, the hydrocyclones and centrifuges segment is projected to grow at the highest CAGR from 2018 to 2023. The rise in demand for starch recovery systems from the potato processing industry—to recover starch and minimize wastewater treatment costs—is the key factor fueling the market growth of starch recovery systems. Also, due to increased environmental awareness among manufacturers and the rising preferences for eco-efficient processing equipment, the demand for starch recovery systems is increasing.
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On the basis of application, the chips & snack pellets segment is projected to grow at the highest CAGR from 2018 to 2023. The demand for chips & snacks is increasing worldwide, resulting in setting up of new manufacturing plants for chips & snacks. The segment is estimated to grow in the near future; this is expected to fuel the demand for starch recovery systems market as well.
Asia Pacific is estimated to dominate the starch recovery systems market in 2018. Due to rapid urbanization and growing purchasing power of individuals in this region, the potato processing industry is taking a leap. These factors are increasing the demand for starch recovery systems. Due to greater opportunities in this market, many process system manufacturers are expanding their presence in this region by setting up manufacturing units, R&D centers, or sales offices, to expand their businesses in the Asia Pacific region.
