Modified Starch Market by Raw Material (Corn, Cassava, Potato, Wheat), Function (Thickeners, Stabilizers, Binders, Emulsifiers), Application (Food & Beverages, Animal Feed), and Region - Global Forecast to 2022
“Modified starch market is projected to grow at a CAGR of 4.1%”
The modified starch market is projected to grow at a CAGR of 4.1% from 2017 and reach USD 12.14 billion by 2022. The demand for modified starch is projected to grow, owing to the developments in industries such as paper, textiles, and the growing demand for convenience food products in the Asia-Pacific region drive the modified starch market. Low production due to adverse climatic conditions and increase in use of raw materials for biofuel production is affecting the supply chain of raw materials for modified starch.
“The cassava segment, by raw material, is projected to be the fastest-growing”
Cassava is a widely grown tuber in most African and Asian countries and it is also the most economic source of starch on a global level. The cassava segment, by raw material, is projected to grow at the highest CAGR from 2017 to 2022, in terms of value. Modified cassava starch is extensively used in a range of applications such as food & beverages, paper-making, textiles, chemicals, constructions, adhesives, and pharmaceuticals. Asia being the center for the production and consumption trends for the global modified starch market, cassava starch in Asia is estimated to be the key driver in the future, with a prime focus on convenience foods in China and India.
“Asia-Pacific projected to be the fastest-growing region in the market”
The Asia-Pacific region accounted for the second largest share, in terms of both value and volume, in the global modified starch market, in 2015. The industrial applications and technologies involved in starch processing are changing rapidly in the Asia-Pacific countries, especially the sub-continent. The revenue for starch from the food and non-food sectors is estimated to grow at a significant rate of 4%–5%. Corn and cassava form the major sources of modified starch in Asia-Pacific, with China being the major player, followed by India.
Break-up of primaries:
By Company Type: Tier 1 – 50 %, Tier 2 – 22%, and Tier 3 – 28%
By Designation: C level – 28%, Director level – 22%, and Others – 50%
By Region: North America – 59%, Asia-Pacific – 22%, Europe – 11%, and RoW – 08%
The global market for modified starch is dominated by large players such Cargill (U.S.), Ingredion Incorporated (U.S.), Archer Daniels Midland Company (U.S.), Tate & Lyle Plc. (U.K.), and Roquette Frères (France). Other players in this segment include Avebe U. A. (Netherlands), Emsland-Starke GmbH (Germany), Grain Processing Corporation (U.S.), Agrana Beteiligungs-AG (Austria), and Global Bio-Chem Technology Group Ltd. (Hong Kong).
The report analyzes the modified starch market across different industry verticals and regions. It aims at estimating the market size and future growth potential of this market across different segments such as raw material, application, function, and region. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, SWOT analyses, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market by providing them the closest approximations of the revenue numbers for the overall modified strach market and the subsegments. This report will help stakeholders to better understand the competitor landscape and gain more insights to better position their businesses and make suitable go-to-market strategies. The report also helps the stakeholders to understand the the market and provides them information on key market drivers, restraints, challenges, and opportunities.
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