Potato Starch Market is set to witness growth at a CAGR of 4.8%

Increasing urbanization and rising literacy are major drivers that are shaping the demand outlook of modern consumers worldwide. The ever-evolving lifestyles of consumers have forced major food & beverage manufacturers to mold their end products according to consumer needs and cater to benchmark standards.

Consumers have become more educated about the negative implications of processed, unnatural foods, and hence, they demand more transparency about the actual ingredients and processes involved in producing the same. Such trends, coupled with severe scrutiny on artificial ingredients and labels, are forcing additive and ingredient producers and suppliers to opt for cleaner solutions as the market landscape evolves.

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The market space for ingredients and additives is also observing evolution on the grounds of chemical-free processing and natural procurement of raw materials. These ingredients are sure to offer clean label-friendly products to food & beverage manufacturers, which, in turn, can provide clean label processed edible end products to consumers.

Certainly, there is no exception for starches when it comes to clean label processing, and over the past decade, the food processing industry has also observed an upsurge in demand for the same, which bodes well for potato starch suppliers.

Overall, the global potato starch market is set to witness growth at a CAGR of 4.8% over the forecast period 2022-2032 and reach a valuation of US$ 16.48 Bn.

Key Takeaways from Market Study

Based on product type, major market share is held by native type potato starch, valued at US$ 4.53 Bn in 2022.

Modified potato starch is anticipated to register growth at a CAGR of 4.7% to reach US$ 9.12 Bn by 2032-end.

Under the nature segment, 90% market share is held by conventional potato starch. However, demand for organic potato starch is expected to register growth at 5.1% CAGR.

When it comes to the end-use segments, majority of potato starch is consumed in the food & beverage industry, followed by industrial, pharmaceuticals, cosmetics & personal care, and animal nutrition.

The food & beverages market for potato starch is valued at US$ 5.57 Bn, which is further anticipated to register growth at 5% CAGR. Under food & beverages, majority of the consumption is seen in dairy alternatives, savory & snacks, and meat & seafood.

"Key manufacturers are offering their products under various labels to account for rising consumer demand for quality labelled products.
However, customized formulations of potato starch, according to customer needs, may result in increased market growth," says a Persistence Market Research analyst.

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Competitive Landscape

Potato starch manufacturers are emphasising on mergers and acquisitions so as take down the market competition and increase their share in the global demand for potato starch. Vendors are also expanding their production capabilities by opening new manufacturing facilities at places where raw material availability is high.

In 2018, Royal Ingredients Group was acquired by BayWa AG through its Dutch division BayWa Agri Supply & Trade BV (BAST) to expand its range of specialty cereals and services. This acquisition opened up a wide range of opportunities for Royal Ingredients Group for further expansion.

In Dec 2021 Roquette Frères S.A. opened a new plant in Pantnagar, India. This helped the company address the growing demand for its products from the food and nutrition market in the Asia Pacific region. This new facility is a part of the company's global network of manufacturing operations. It adheres to stringent process safety standards.
Explore More Valuable Insights

Persistence Market Research, in its new report, offers an impartial analysis of the global potato starch market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.

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The study offers compelling insights based on product type (modified and native), nature (organic and conventional), and end use (food & beverages (dairy alternatives, bakery, confectionery, soups & sauces, snacks & savoury, meat & seafood, infant formula, and others), industrial, pharmaceuticals, cosmetics & personal care and, animal nutrition), across six major regions of the world.

Access Related Reports-

Wheat Starch Derivatives Market: https://www.persistencemarketresearch.com/market-research/wheat-starch-derivatives-market.asp

Modified Starch Market: https://www.persistencemarketresearch.com/market-research/modified-starch-market.asp

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This release was published on openPR.