Press release
Industrial Starch Market Size, Share, Trends, Segmentation, Top Key players are Cargill, Archer Daniels Midland Company, Ingredion Incorporated, Tate & Lyle PLC, Universal Starch Chem Allied Ltd
Industrial Starch Market - OverviewThe Global Industrial Starch Market is expected to garner a revenue of USD 112 billion by 2024 with a CAGR of approximately 5.9% during the forecast period, 2019-2024. Due to the increasing demand and wide application of industrial starches in various end-user industries, industrial starch market is growing at an incremental pace of development on the global stage. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on Global Industrial Starch Market Research Report- Forecast to 2023 that the Industrial Starch market will demonstrate an exceptional CAGR.
Industrial Starch is an essential ingredient both for the food and non-food industry. For starch production, raw materials constitute around 60 percent of the total cost incurred. Also, with the advancement of technology, starch manufacturing units have adopted a full set of modern technology, facilitating cost effective production. Various by products were disposed of traditionally, but now as the manufacturers know the value of these by product, they are now processed and used as valuable raw material in various application. There has been huge demand of starch in production of bio-degradable plastic. Industrial players rely on starch to produce bio-degradable plastic as this plastic can be easily degraded by enzymatic & chemical processes and the product can be used as compost, and hence used as fertilizers.
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The burgeoning demand for High Fructose Corn Syrups (HFCS) in the category of food and beverages is anticipated to be pivotal to the rising demand for corn starch-based sweeteners soon. In the food industry, starches are used as a thickener, gelling agent, or as a stabilizer to manufacture snacks, meat products, fruit juices and other food products. Starches as well as its derivatives are extensively used in food formulation and the beverage industry as it is a valuable raw material to modify food texture and consistency. With changing dietary patterns, growing consumer health awareness and increasing demand of functional food and beverages, has encouraged the use of industrial starches in preparation of healthy, nutritional, and functional products. These factors support the development of products such as frozen, chilled, low-fat, and gluten-free foods, where starch can be used as the main or co-ingredient.
Industrial Starch Industry Updates
January 2017, Ingredion Incorporated launched 9 additions to Non-GMO Project certification. The starches product line offers extensive variety of development tolerance and stability in various applications such as dressings, sauces, ready meals, yogurts and dairy desserts.
November 2016, Cargill invested EUR 35 million in order to expand its sweeteners production unit in Europe
Industrial Starch Market - Competitive Analysis
The leading market players in the Global Industrial Starch market primarily are Cargill (US), Archer Daniels Midland Company (US), Ingredion Incorporated (US), Tate & Lyle PLC (UK), Universal Starch Chem Allied Ltd. (India), Agrana Beteiligungs-AG (Austria), Grain Processing Corporation (US), Roquette Frčres (France), Tereos Group (France), Chr. Hansen A/S (Denmark), Royal Cosun (Netherlands), and Altia Industrial Services (Finland)
Industrial Starch Market - Segments
The global Industrial Starch market has been divided into type, form, application, and region.
Based on Type: Sweeteners, Modified Starch and Native Starch
Based on Form: Powder, Liquid, and Gel
Based on Application: Food & Beverages (Confectionery, Processed food, Beverages, and Others) and Non-Food (Corrugation & Paper making, Pharmaceuticals, Textile, Personal Care, and Others)
Based on Region: North America, Europe, Asia Pacific, and ROW.
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Industrial Starch Market - Regional Analysis
The global industrial starches market is segmented into North America, Europe, APAC, and Rest of the World (RoW). Global industrial starches market is highly dominated by North America followed by Asia Pacific. The expansion of production facilities in the emerging economies such as India and China, coupled with increasing demand for the food, paper, and textile sectors is expected to drive the growth in Asia-Pacific region. The textile sector in China, Malaysia, and India further boost the growing domestic consumption coupled with favorable government regulations attracting investments and strengthening the market. European starch industry is also expected to generate high revenue owing to the robust manufacturing base of the food processing industry coupled with the growing demand in Germany. Also, huge demand for modified starch-based products from the convenience and packaged food sector would accelerate the growth of starches, thereby resulting in the improvement of margins of the food processing industry over the past couple of years.
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