According to MarketsandMarkets, the global modified starch market size is estimated to be valued at USD 13.1 billion in 2020 and projected to reach USD 14.9 billion by 2025, recording a CAGR of 2.7% in terms of value. The growth of the modified starch market can be attributed to the increase in demand for processed and convenience food. Along with that, demand for adhesives is growing in a range of industrial applications, which are also expected to fuel the modified starch market in the forecasted period. Asia Pacific region dominated the global modified starch market.
Report Objectives:
- To describe and forecast the modified starch market, in terms of raw material, application, form, and region
- To describe and forecast the market, in terms of value, by region–North America, Europe, Asia Pacific, South America, and the Rest of the World—along with their respective countries
- To provide detailed information regarding the major factors influencing the market growth (drivers, restraints, opportunities, and challenges)
- To strategically analyze micro-markets with respect to individual growth trends, prospects, and contributions to the overall market
- To study the complete value chain of the market
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Restraints: Limited sources and the high cost of natural additives
Modified starch is used in a range of industrial applications due to its functional properties. But, the sources from which starch is extracted are very limited, which includes corn, cassava, wheat, potato, rice, and others. The production of these sources depends on climatic conditions. For instance, the production of cassava depends on climatic conditions. Unfavorable climate hampers the overall production of cassava and leads to the fluctuation in the price of cassava.
Opportunities: Untapped application of modified starch
There are various application areas that are untapped and can be big opportunities for modified starch manufacturers. Expanding the commodity sources for extracting starch and combining modification processes add a wider range of probable applications to the list.
Modified starch can act as an excellent fermentation base for the bulk production of a wide variety of biotechnology products, such as organic acids, antibiotics, vitamins, and hormones. Starch-derived glucose can be fermented to produce lactic acid, which may be polymerized for biodegradable films or bioplastics. Similarly, potato starch wastes may also be used as feedstock in fermentation reactions. Several polymers can be prepared using a variety of starch-based feedstock.
By application, food & beverages segment is projected to account for the largest share in the modified starch market during the forecast period
By application, the market is segmented into food & beverages, industrial, and feed. The food & beverage segment is further classified into bakery & confectionery products, processed food, beverages, and others, which includes snacks and soups. Modified starches have been developed for a significant period of time, and their applications in the food & beverage industry are increasingly gaining importance. Modified starches are considered as food additives that are prepared by treating starch or their granules with chemicals or enzymes, causing the starch to be partially degraded. They are used across various food applications owing to their functional properties.
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The Asia Pacific region dominated the modified starch market with the largest share in 2019, and it is also expected to grow with the highest CAGR
The modified starch market in Asia Pacific is dominant due to the increasing demand for processed food because of a shift in lifestyle trends. People are looking for ready-to-eat meal options as they are leading a busy life.
Asia Pacific is also the fastest-growing market as industrial applications and technologies involved in starch processing are changing rapidly in the region. The demand for modified starch is increasing as various industries are incorporating in their manufacturing processes and products. Also, key players are increasingly investing in the Asia Pacific modified starch market.
Key Market Players:
Archer Daniels Midland Company (ADM) (US), Cargill (US), Ingredion (US), Tate & Lyle (UK), Roquette Frères (France), Avebe U.A (the Netherlands), Grain Processing Corporation (US), Emsland (Germany), AGRANA (Austria), SMS Corporation (Thailand), Global Bio-Chem Technology Group (Hong Kong), SPAC Starch (India), Qindao CBH Company (China), Tereos (France), and KMC (Denmark), Beneo (Germany), Angel Starch Food Pvt. Ltd. (India), Shubham Starch Chem Pvt Ltd. (India), Everest Starch India Pvt Ltd. (India), Sheekharr Starch Pvt Ltd. (India), Sanstar Bio-Polymers Ltd. (India), Universal Biopolymers (India), Sonish Starch Technology Ltd. (Thailand), Venus Starch Suppliers (India), and Gromotech Agrochem Pvt. Ltd. (India).
