European Industrial Starch is expected to grow at a CAGR of 6.75% and reach USD 24.12 billion in 2021 from USD 17.4 billion in 2016.
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The Industrial Starch market is expected to show evident potential in the forecasting period. The market continues to build up momentum with rising efficiency of alternative starch sources, for example cassava.
The market has managed to gain attention of various companies from around the Europe region.
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Industrial Starch is an important component for the production of adhesive formulations in various industrial applications.
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It is generally obtained from different sources like cassava, potato, wheat. Apart from its use in the food industry, Industrial starch find applications in non-food industries as well.
Some of these industries are textile, paper, mining, building materials. mainly due to its adhesive nature.
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There are various factors responsible for driving the growth of the market over the recent years. The major factors include increasing demand for convenience foods, rapid growth witnessed by food processing industry, varied functions of starch and lastly the rise in demand for adhesive materials in different industries.
Apart from these, there are some factors which have been hindering the growth of the market. Some of them are ease of availability of alternates like resin glue, high R&D investment costs as well as the growth of the Arabic gum market.
These factors need to be tackled for the market to reach its actual potential.
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The Europe Industrial Starch market is divided based on source, type, applications and form. The segmentation on the basis of type is done into wheat, corn, cassava and potato.
The corn segment dominated the market. On the basis of type, the market is categorized into Native starch and starch derivatives & Sweeteners.
The derivatives and sweeteners segment exhibits the highest market share in type segmentation due to lower limitations and diversified functionality. On the basis of application, the segments include feed, paper industry and the food & beverages.
The Food and Beverages segment dominate the market share dues to increase in starch usage in food products. Finally, the market is segmented into liquid and dry form on the basis of form, and the former leads the market share as a result of easy storage options as well as higher efficiency.
On the basis of geography, the Europe market is analysed under various regions namely U.K, Germany, Spain, Italy and France.
Some of the major competitors in the market include Cargill, Royal Cosun, Archer Daniels Midland Company, Tate & Lyle PLC, Ingredion Incorporated, AGRANA Beteiligungs-AG, Roquette Frères, Grain Processing Company, The Tereos Group, Altia Industrial Services.
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