Modified Starch Market Projected to Grow at a CAGR of 4.1% from 2018 to 2023. The Modified Starch market is primarily driven by factors such as increasing consumption of processed food and convenience food. Asia Pacific is projected to be the fastest-growing regional market. Asian countries, especially China, have emerged as leading destinations, thereby facilitating the market shift from developed economies to developing economies.
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ReportsnReports.com adds” Modified Starch Market by Raw Material (Corn, Cassava, Potato, and Wheat), Application [F&B (Bakery & Confectionery, Beverages, and Processed Foods), Animal Feed, and Industrial], Function, and Region-Global Forecast to 2023” Latest study of 172 Pages, published in April 2018.
“The modified starch market is projected to grow at a CAGR of 4.1%.”
The modified starch market is estimated at USD 10.35 billion in 2018, and projected to grow at a CAGR of 4.1%, to reach USD 12.67 billion by 2023. The market is primarily driven by factors such as increasing consumption of processed food and convenience food.
Asia Pacific is projected to be the fastest-growing regional market.
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Asian countries, especially China, have emerged as leading destinations, thereby facilitating the market shift from developed economies to developing economies. One of the major restraints in the growth of the modified starch market is the rising costs of raw materials and stringent regulations.
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“The corn segment led the market with the largest share in 2017.”
On the basis of raw material, the modified starch market was led by the corn segment. Corn is a staple food, and it is preferred across the globe due to its importance in the diets of several countries; hence, the market for modified cornstarch accounted for the largest share in 2017.One of the most important applications of cornstarch is its use as a thickening agent in soups and liquid-based foods such as sauces, gravies, and custards.
“Modified starch as thickeners accounted for the largest share in 2017.”
Based on function, the thickeners segment accounted for the largest share in the modified starch market in 2017. In the food industry, thickeners are generally used to thicken gravies, puddings, sauces, and soups without altering the taste.
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“Food & beverages to be the fastest growing application of modified starch.”
Based on application, the food & beverages segment is expected to be the fastest-growing during the forecast period. This segment is rapidly growing, mainly due to the increasing demand for convenience food, in which modified starches are considered as food additives.
In food applications, the modified starches are used for their functional applications, as fat replacers, texture improvers, nutritional products, high shear ability, and temperature stability.
“High growth is expected in the Asia Pacific modified starch market.”
Asia Pacific is projected to be the fastest-growing modified starch market for the period considered for this study, due to the rise in disposable income and increase in demand for convenience & processed food, along with the growing industrial base, leading to increased demand for modified starch in the region. In addition, the growing industrial applications, starch processing technologies, and ready availability of modified starch drive the market in Asia Pacific countries.
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Break-up of Primaries:
- By Company Type: Tier 1 - 35%, Tier 2 - 45%, and Tier 3 - 20%
- By Designation: C Level - 35%, D Level - 25%, and Others*- 40%
- By Region: North America - 20%, Europe - 25%, Asia Pacific- 40%, and RoW - 15%
*Others include sales managers, marketing managers, and product managers.
Leading players profiled in this report:
- Archer Daniels Midland Company (US)
- Cargill (US)
- Ingredion Incorporated (US)
- Tate & Lyle PLC (UK)
- Roquette Frères (France)
- Avebe U. A. (Netherlands)
- Grain Processing Corporation (US)
- Emsland-Stärke GmbH (Germany)
- AGRANA Beteiligungs-AG (Austria)
- SMS Corporation Co. Ltd. (Thailand)
- Global Bio-Chem Technology Group Company Limited (Hong Kong)
- SPAC Starch Products Pvt. Ltd. (India)
- Qingdao CBH Co., Ltd. (China)
The report segments the modified starch on the basis of raw material, application, function, and region. In terms of insights, this report has focused on various levels of analyses—competitive landscape, end-use analysis, and company profiles, which together comprise and discuss views on the emerging & high-growth segments of the global modified starch, high-growth regions, countries, government initiatives, drivers, restraints, opportunities, and challenges.