Asia-Pacific Starch Derivatives Market - Growth, Trends, and Forecast (2018 - 2023)
The Asia-Pacific starch derivatives market is expected to register a CAGR of 8.4%, during the period 2018-2023. Raw material suppliers, processors, and the final product manufacturers constitute the various stakeholders in the starch derivatives industry. Major producers of starch derivatives have been engaged in the strategies of focusing on innovation in products, expanding current operations and commencing new ones and investing in products of other companies, among others. Consumption of starch derivatives in pharmaceutical applications has been gaining in momentum due to research and development initiatives.
The sector of starch derivatives has been evolving as a consequence of technological advancements, which has resulted in the introduction of innovative products and solutions. The Asia-Pacific market for starch derivatives has been increasing because of growing demand for convenience foods & beverages in the emerging countries. In addition, the functional properties possessed by starch derivatives has also been instrumental in promoting their use in the pharmaceutical, cosmetic, and bioethanol industries.
Cyclodextrin, glucose syrup, hydro lysates, malt dextrin, and modified starches are the various types of starch derivatives considered in this report, which are derived through the chemical, physical, or enzymatic treatment of native starch. By product type, glucose syrup is the largest because of its extensive utilization in food & beverage applications. However, in terms of growth, demand malt dextrin is expected to record the fastest pace due to its widening scope of application, such as a flavor carrier, humectant, viscosifier and dispersing agent, in addition to as a functional ingredient. Food & beverage constitutes the largest end-use area for starch derivatives, which primarily find application as stabilizers, thickeners and sugar replacers, in addition to fulfilling functional properties as fat replacers.
Asia-Pacific represents the largest global market for starch derivatives, estimated to account for share of about 34% in 2017, though demand for these products in the region is likely to emerge as the second fastest growing. China is the largest market for starch derivatives within Asia-Pacific, cornering a share estimated at 38% in 2017, as well as forecast to be the fastest growing. Though demand for glucose syrup is the largest, the market for malt dextrin in Asia-Pacific is primed to witness fastest growth during 2018 – 2023 (forecast period). By end-use, food & beverage accounts for the largest share of all starch derivatives consumed in Asia-Pacific region, pharma applications are likely to register fastest growth in demand. India is the other market for starch derivatives that is anticipated to propel demand growth in the region.