Asia-Pacific Industrial Starch Market has been estimated at USD 26.1 billion in 2016 and is projected to reach USD 36.47 billion by 2021, at a CAGR of 6.92% during the forecast period from 2016 to 2021.
The Industrial Starch market is showcasing significant potential in the mentioned forecast period. The market continues to build up momentum with the increasing efficiency of alternates to natural starch sources such as, cassava.
Thus, the market has seen a huge interest from various agricultural firms around the Asia-Pacific region.
Industrial Starch is used as an alternative to natural starch for adhesive purposes in a vast range of industrial applications.
It is generally obtained from different sources like cassava, wheat, potato. Apart from applications in food industry, industrial starch is used in non-food industries as well such as mining, textile, paper, building material mostly because of its adhesive nature.
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In recent years the industry has seen a rapid growth and is expected to continue the trend. It can be attributed to factors such as rapid growth in the food processing industry, increasing demand for convenience foods, high demand for adhesives in various industries and variety of benefits related to starch.
On the other hand, the market faces some challenges and restraints as well. Some of the major ones are high initial investments for R&D, easier alternates like Resin glue for adhesive purpose and the development in Arabic gum market.
These factors need to be answered for the market to reach its potential.
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The Asia-Pacific market for Industrial Starch is categorized based on source, type, application and form. The market segmentation based on source is done into Corn, Potato, wheat and cassava.
The market share is led by corn. Based on type, the market is segmented into native starch as well as Starch Derivatives and Sweeteners, further divided into modified starch and other derivatives.
The starch derivatives accounted for the greatest market share based on type due to lesser limitations and higher functionality compared to alternates. Further, the market is segmented by application under Food & Beverages, Feed and Paper Industry and is dominated by the Food & Beverages segment.
On the basis of form, liquid form has the higher share in the market compared to the alternate, dry form due to higher efficiency. On the basis of geography, the Asia-Pacific market is analysed under various regions namely China, India, Australia, Japan and South Korea.
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Some of the major companies competing in the market for dominance include Archer Daniels Midland Company, Cargill, Ingredion Incorporated, AGRANA Beteiligungs-AG, Tate & Lyle PLC, Grain Processing Company, The Tereos Group, Roquette Frères, Altia Industrial Services, Royal Cosun.
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