Global Food Starch Market – Growth, Trend and Forecast (2018 - 2023)
The global starch market is poised to register a CAGR of 5.85%.The market is competitive and driven by an increase in the trend of “health and wellness” and growing consumer demand for all natural ingredients. Cereals, particularly breads and breakfast cereals, and potatoes make the major contribution to starch intakes in the 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.
Growing Demand for Weight Management Foods
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 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.
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 food starch market growth. 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.
Modified Starch Holds the Major Share in Food Starch Market
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. The use of modified starch as a fat replacer is expected to further increase it usage in the future due to the growing trend of consumers giving preference for health foods which contain substitutes for fat to increase the nutritive value for food.
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).
U.S Holds Major Share in North America Food Starch Market
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. North America is expected to have the highest market share for modified starch market globally in 2017. The US is expected to have the highest share of about 45%. 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. The European starch industry produces over six hundred products, from native starches to physically or chemically modified starches, through to liquid and solid sweeteners. United Kingdom (UK) is one among the prominent countries that have a high market share in consumption of starch in the region. Major PLAYERS: ADM - ARCHER DANIELS MIDLAND, AGRANA, AVEBE, BENEO, CARGILL INCORPORATED, GRAIN PROCESSING CORPORATION, INGREDION, NATIONAL STARCH FOOD INNOVATION, ROQUETTE FERERES SA and TATE & LYLE - TEREOS SYRAL, amongst others.
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