Food Starch Market - Growth, Trends, and Forecast (2017 - 2022)
The starch market is poised to register a CAGR of 5.85%, to reach USD XX billion by the end of 2022. The market is competitive and driven by an increase in the trend of “health and wellness” and growing consumer demand for all natural ingredients.
The rising demand for weight management ingredients or foods and functionally diverse ingredients is driving the market. These factors are highly impactful all through and are expected to drive the market at a medium pace during the forecast period. Increasing advancements in the technology of microencapsulation has widened the options for starch industry, which is projected to have a high impact in the coming years.
The increasing prices of agricultural commodities are highly impacting the prices of the final product, which is a major drawback for the market growth. The demand for starch from other industries, such as cosmetics, animal feed, and chemicals, is lagging the market. However, the rising demand for processed and convenience foods has opened the gates for the market. In addition, the emerging trend of “clean label ingredients” has also triggered the market and is expected to continue the impact throughout the forecast period.
Cereals, particularly breads and breakfast cereals, and potatoes make the major contribution to starch intakes in these western diets. Starch intakes are considerably higher in countries dependent on starchy staples to a greater degree, such as China, and Japan.
Gluten-free is a rising trend seen in food starch market. Cargill’s ActiStar is a resistant starch to replace wheat flour and can be added to the products intended to be gluten-free. Resistant starch is typically used in combination with rice flour to aid with full replacement of wheat flour thereby optimising the cost associated with rice flour. Cereals are the greatest source of resistant starch.Cargill’s ActiStar resistant starch can also enhance dietary fiber content in the products where it is incorporated. Manildra USA has developed and patented a process of manufacturing wheat starch having a gluten content that falls below the Food and Drug Administration’s 20 p.p.m. requirement for gluten-free claim.
Growth in Processed and Convenience Foods
Increase in the working hours and busy lifestyles have highly triggered the growth of convenience foods; this trend is expected to witness a higher growth rate in the next six to seven years. Thus, the consumption of convenience foods is increasing and so is the demand for starches used in the processing of a variety of these products. The impact of this factor is anticipated to be high throughout the forecast period.
The Food Starch Market has been segmented by product (native, modified, starch derivatives, starch sweeteners), source (maize, wheat, potato, others), application (beverages, baked goods, confectionery, dairy products, processed foods) and region (North America, South America, Europe, the Middle East & Africa and Asia-Pacific).
Native and modified starches are used as thickeners, binders, and stabilizers in the food & beverage industry. Due to their functional properties, they are considered as indispensable ingredients in the industry. Some of their key functions include the prevention of undesired hydration, rendering the desired texture and mouth feel, shelf-life extension and encapsulation of other ingredients.
Globally, maize has been the most preferred raw material for starch production. In the United States, more than 90% of the starch is manufactured from maize. Asia-Pacific also follows suit and depends significantly on maize for the manufacture of starch. Maize is used considerably in Europe as well, although the dependence is lesser compared to other global markets. This is mainly because wheat and potato are significantly used as raw material sources to meet the starch requirements in Europe.
Cargill Incorporated, Ingredion, Tate & Lyle - Tereos Syral, Roquette Freres SA are the major companies leading the market. New entrants are rare, due to high initial costs and market saturation. Companies are participating in this market with the focus on establishing themselves as manufacturers of health and wellness ingredients. The major competitive factors in the native and modified starches market are price, product customization, and customer service.Some of the key Players are
• Cargill Incorporated
• Grain Processing Corporation
• National Starch Food Innovation
• Roquette Fereres SA
• Tate & Lyle - Tereos Syral
Key Deliverable of the Study
A detailed analysis of the new trends in the market
Changing market dynamics in the industry such as increasing demand for weight management ingredients act as a major driver for the market.
Historical, current and projected market size in terms of volume and value
In depth market segmentation on the basis of type into stability, texture, moisture retention and others
Europe is the geographical regions exhibiting a promising growth for the market
Competitive Landscape focusing on players such Cargill Incorporated, Ingredion, Tate & Lyle - Tereos Syral and Roquette Freres SA holding majority of the market share
Giving an overall perspective on market performance