Europe Industrial Starch Market Forecast to 2028 – COVID-19 Impact and Analysis – by Type (Native Starch and Starch Derivatives & Sweeteners), Source (Wheat, Corn, Potato, Cassava, and Others), and Application (Food & Beverages, Pulp & Paper, Animal Feed, Pharmaceuticals, and Others)
The Europe industrial starch market is expected to grow from US$ 18,160.72 million in 2022 to US$ 25,501.88 million by 2028. It is expected to grow at a CAGR of 5.8% from 2022 to 2028.
Starch is used in various food and non-food applications such as pulp & paper, pharmaceuticals, and animal feed. In the pharmaceutical industry, starch is used as an excipient and binding agent in tablet making. In animal feed products, starch and its derivatives are used as a source of energy and stabilizing and thickening agents. In the pulp & paper industry, starch is used as a wet end additive, binding agent, and surface coating agent. Starch improves the strength and water resistance of paper
Based on type, the Europe industrial starch market is segmented into native starch and starch derivatives & sweeteners. In 2021, the starch derivatives & sweeteners segment held a larger market share and is also expected to be the fastest growing segment during the forecast period. Starch derivatives and sweeteners are obtained from the further processing of native starch. Usually, native starch is converted into glucose syrup, which is processed to obtain maltodextrins, isoglucose, polyols, and dextrose. In addition to those mentioned above, many other derivatives of starch have applications across the food & beverages, pulp & paper, pharmaceuticals, and animal nutrition industries.
The Europe industrial starch market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. In 2021, Germany held the largest share of the Europe industrial starch market and is expected to grow at the fastest CAGR over the forecast period. This is due to the growing food & beverage industry in the country. People consume convenience food products due to their busy schedules and hectic lifestyles. Starch and its derivatives are widely used in convenience food & beverages as gelling, thickening, and sweetening agents.
The food and beverage industry faced unprecedented challenges due to the COVID-19 pandemic. The shortage of raw materials and laborers, shutdown of factories, and other operational difficulties associated with COVID-19 safety protocols adversely affected the Europe industrial starch market. The lockdown measures disturbed the supply chains and production of industrial starch. However, the successful implementation of large-scale vaccination drives eased the tension in current business scenarios, leading to a rise in business activities. The economies revived their operations, and the demand for industrial starch is expected to rise globally in the coming years. The governments implemented various strategies to improve the region's food security and agri-food supply chains. For instance, The European Union (EU) introduced Farm to Fork strategy, which focuses on transforming the overall food system across the region. Thus, the abovementioned factors hampered the market growth during the COVID-19 pandemic.
AGRANA Beteiligungs-AG; ADM; Ingredion Incorporated; Roquette Frères; Tereos Group; Cargill, Incorporated; Tate & Lyle PLC; Grain Processing Corporation; Royal Cosun; and AVEBE are among the leading players in the Europe industrial starch market. These companies are adopting strategies such as mergers & acquisitions and product launches to expand their geographic presence and consumer bases.
The overall Europe industrial starch market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants, including valuation experts, research analysts, and key opinion leaders—specializing in the Europe industrial starch market.
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