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Global Starch Market: Developments in Biotechnology will Prove to be Growth Engine
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Starch is a prominent constituent in the dietary structure of humans. It is mostly derived from sources such as cassava, potato, sweet potato, wheat, and maize. Different types of sugars are manufactured by starch processing industrial units. Adhesives, glue-making, and pastes are the other major starch processing industries. Much of the demand for starch is derived from the sweeteners industry, since sweeteners are essentially highly processed forms of starch. In fact, the starch market is primarily driven by the food industry. Starch as an input derives its overall demand from food and non-food applications.
Global Market for Sweeteners to Fuel the Global Starch Market
The global starch market is segmented on the basis of product type, application, and geography. On the basis of product type, the global starch market is classified into liquid starch, modified starch, native starch, and dry starch. The food industry uses starch for manufacturing processed foods and beverages. The non-food industry utilizes starch for manufacturing products such as wheat paste, paper, stiffening agents, glues, and thickening agents.
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The various application segments in the global starch market are ceramics, cosmetics, food and beverages, colors, pharmaceuticals and medicines, printing, and construction. The other application segments of the starch market are fermentation industry, textile weaving, and biofuels. The main end-user segment that dominates the global starch processing industry is the food industry; the largest sub-segment within the food industry according to demand for starch is the sweeteners segment. Interestingly, the application scope in the global starch market has been expanding for quite some time now. Due to rising demand for low-calorie and low-fat foods, several food manufacturing companies these days are substituting fats with carbohydrates such as hydrocolloids and starches.
Asia Pacific- Dominant Regional Player in the Global Starch Market
Geographically, the global starch market is categorized into North America, Asia Pacific, Europe, and Rest of the World. It is anticipated that the starch markets in Canada, the U.S., and Japan will witness substantial growth in the forthcoming years. In terms of revenue generation, the starch and starch processing markets of the Asia Pacific, North America, Europe, and Rest of the World regions are expected to grow robustly during the forecast period. Industry trends conclude that the U.S. is the largest starch supplying market in the world. The second largest global supplier of starch after the U.S. is China.
At present, the global starch market is propelled by the Asia Pacific market for the same. The Philippines, China, South Korea, India, and Thailand are some of the main regional markets that are anticipated to fuel in the Asia Pacific starch market in the forthcoming years. The global starch market is expected to grow substantially in the face of scarce inputs at affordable prices, and rising energy costs.
Ongoing market trends denote that latest developments and innovative steps in biotechnology will be the prominent driving forces for the overall starch market. Also, another noteworthy factor driving this industry is the implementation of government policies that promote the use of natural ingredients in food products.
The key companies in the global starch market are China Essence Group Ltd., Cargill Inc., Roquette Frères, Beneo-Remy N.V., Emsland-Stärke Gmbh, and Tate & Lyle Plc.
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