Sri Lanka Starch and Starch Derivative Market - Segmented by Application (Textile, Processed Food and Confectionery, Paper and Corrugation, Pharmaceutical)-Growth, Trends and Forecasts (2018 - 2023)
Sri Lanka Starch and Starch Derivative Market Insight
The Sri Lanka starch and starch derivative market is projected to grow at the rate of 3.8% during the forecast period 2018 to 2023. The Sri Lankan starch and starch derivative market is highly impacted by growth of processing food industry and export-import factors. The market is expected to witness significant growth rate in upcoming years due to limited production and growing consumption of starch and starch derivatives in Sri Lanka. In Sri Lanka, modified starches are typically used as bulk enzymes in detergents, textile, pulp and paper industries, organic synthesis and biofuels industry which is driving the demand of starches for various industrial application in Sri Lanka.
Growth of Agriculture sector Create the Demand for Sri Lanka Starch and Starch Derivative Market
Growing agriculture sector in Sri Lanka make the country rich in resources such as maize, rice, and cassava which is supporting the growth of starch and starch derivatives market in Sri Lanka. Majority of starch and starch derivatives produced in Sri Lanka are derived from rice and maize.
In Sri Lanka, agricultural land covers approximately 2.6 million hectares, or roughly 42% of Sri Lanka’s total land area. Around 46.1% of total land area is used for rice cultivation whereas, 2.5% of area is used for maize cultivation. In 2017, Sri Lanka has also witnessed the decrease in import of maize and rice starch as it witnessing growth in production of maize and rice starch from last few years.
Increasing Application of Starches in Various Industries in Sri Lanka
With the growing demand for starch and starch derivatives in various application in Sri Lanka and increasing investments in the technology by the key players, the Sri Lankan starch and starch derivative market has a broad scope to enter and explore.
In Sri Lanka, Animal feed, papermaking, pharmaceutical industry are significantly depends upon maize starch as easy availability and affordability of maize starch compare to other starch. Compare to other countries, unmodified starch made in Sri Lanka is relatively inexpensive and it is easier for processing for various application which is driving the growth in application of unmodified starch in various industries in Sri Lanka. In Sri Lanka, starch and starch products are used in making paper and paperboard as wet-end additives, surface sizing agents, and coating adhesives.
Sri Lanka Starch and Starch Derivative Market Competitive Landscape
Most prominent countries exporting to Sri Lanka are India, Argentina, Spain, China, Indonesia and Netherlands among others. Few of those prominent players in Sri Lanka starch and starch derivatives market are Cargil Inc. Gulshan Polyols ltd., Asia Fructose Co Ltd., Santosh Starch Products ltd.
Reasons to Purchase the Sri Lanka Starch and Starch Derivative Market Report
Analyzing outlook of the market with the recent trends and Porter’s five forces analysis
Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
Country level analysis integrating the demand and supply forces that are influencing the growth of the market
Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
3-month analyst supports, along with the Market Estimates sheet in excel
Customization of Sri Lanka starch and starch derivative Market Research Report
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