Global Modified Starch Market - Analysis of Growth, Trends Progress and Challenges (2017 - 2022)
Modified Starch Market
The market is poised to register a CAGR of 6.5%, to reach USD XX billion by 2022. The market is driven by an increased demand for processed food and convenience food.
The multifunctional properties of starch, such as thickening, stabilizing, binding, and emulsifying abilities, are increasing the scope of modified starch applications in various industries. However, the availability of raw material is a major concern as they are the key ingredients of animal feed and bioenergy.
Growth in Processed and Convenience Foods
The increased working hours and busy lifestyles have triggered the growth of convenience foods and this trend is expected to witness a higher growth rate, in the next six to seven years. Thus, the consumption of convenience foods and demand for starches used in the processing are increasing. The impact of these factors is anticipated to be high, during the forecast period.
The market has been segmented by product (cationic starch, esterified starch, etherified starch, pre-gelatinized starch, resistant starch), source (maize, wheat, potato, tapioca, others), function (thickeners, binders, emulsifiers, stabilizers), application (food & beverages, animal feed, pharmaceuticals) and region (North America, South America, Europe, the Middle East & Africa and Asia-Pacific).
Corn is the Majorly Consumed Ingredient for the Modified Starch Production
Corn holds a high content of starch, comparatively, than other sources. The high content of starch and its easy availability, leads to an acceleration in the market growth. The application of corn starch as a thickener in sauces, processed food and beverages is driving the food sector market. However, the competition between various industries for the raw material is limiting the growth of corn starch and is expected to create an opportunity for the other crops.
The well-established food processing industries in the North American region are driving the market for modified starch. They act as thickeners, binders and stabilizing agents in the processed food. Moreover, the availability of corn and low price of corn starch are driving the market in North America. However, Asia-Pacific is expected to witness a faster growth rate, due to the growing textile and food processing industries, during the forecast period.
R&D is the main focus of the modified starch industry, as raw material is a major constraint. The companies are sourcing starch from various crops, such as potato, pea and wheat. For instance Avebe and Roquette are the companies promoting various starches. Moreover, expanding business in the developing regions is the other strategy adopted by players.
Etenia™ is a potato starch product of Avebe that has been awarded as the most promising ingredient for the dairy industry. The product is used as a gelling, thickening and texturizing agent in dairy products, such as cheese and yogurt.
ADM is planning to acquire Chamtor, a manufacturer of starch, to expand their presence in Western Europe.
Some of the key players are:
Grain Processing Corporation
Roquette Fereres S.A
Tate & Lyle - Tereos Syral
Our report on the global modified starch market covers the following:
Modified starch market trends & dynamics
Latest News & modified starch developments
Porter’s five forces analysis