Europe Starch Derivatives Market - Growth, Trends, and Forecast (2018 - 2023)
The Europe starch derivatives market is expected to register a CAGR of 8.8%, during the forecast 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 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.
Accounting for an estimated share of 29% in 2017, Europe constitutes the second largest global market for starch derivatives. While Germany is the largest market within Europe, estimated to account for 30% of the overall market in 2017, United Kingdom is slated to emerge as the fastest growing market of starch derivatives over the analysis period. By product type, glucose syrup is the largest category of starch derivatives consumed in Europe, though the market for malt dextrin is anticipated to register the fastest growth. Food & beverage applications corner a significant share of the European starch derivatives market, with pharmaceutical applications poised to emerge as the fastest growing.
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