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Potato Starch Market to be Worth $5.6 Billion and 5,128.5 Thousand Tons by 2029
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Potato starch, even in small or large quantities, does not have any taste but has different applications. Potato starch and its derivatives have special properties, such as a low gelatinization temperature and a high paste consistency. It is preferred in the food industry because its paste has a neutral flavor. In the paper industry, potato starch is used for its good solubility. The textile industry uses potato starch due to its adhesive power. It contains less lipid, protein, and ash than starch derived from tapioca and corn. It is preferred over other starches, such as corn starch, due to its high consistency on pasting, excellent and flexible file formation, binding power, and low gelatinization temperature. Also, the growth of this market is backed by growing demand for processed and convenience food, the increasing need for potato starch in the paper industry, the rising incidence of celiac disease and other food allergies, and the rising demand for functional food products. However, the alternative starches available in the market are expected to hinder the growth of this market to a notable extent.
Rising Demand for Functional Food Products to Drive the Growth of the Potato Starch Market
In recent years, the rise of functional foods and dietary supplements has played a key role in healthy habits due to the growing concerns about health and the perception that diet directly affects health. The global demand for functional food is mainly driven by increasing consumer awareness regarding micronutrient deficiencies, growing health concerns, rising incidence of diseases, and increasing disposable income. Additionally, the rising incidence of chronic diseases across the globe is contributing to the growing demand for nutritional food.
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According to an NIH-funded study, a healthy eating diet is directly proportional to overall health improvement and reduces heart disease, stroke, and type 2 diabetes. A healthy eating trend is gaining traction and evoking interest, significantly driving healthful food formulation. Potato starch is emerging as an ingredient in the formation of functional food and dietary supplements due to its unique functional properties and health benefits. It has health benefits such as glycemic control, control of fasting plasma triglyceride and cholesterol levels, and absorption of minerals.
Furthermore, in response to the COVID-19 pandemic, consumers are increasingly demanding products that offer immunity-boosting benefits as a preventive measure. The functional food industry is seeing a rapid surge in demand for products containing immune-boosting natural ingredients. For instance, according to the International Food Information Council's (IFIC) 2020 Food and Health Survey, in 2020, 43% of people followed a specific diet, with an increase of 38% from 2019, followed by a 7% low-carb diet. The motivation for teaching new diets is losing weight (47%), enhancing physical health (39%), preventing future health concerns (37%), and preventing weight gain (36%).
Thus, rising demand for functional food products is expected to boost the growth of the potato starch market.
The potato starch market is segmented by nature (conventional potato starch, organic potato starch); type (modified potato starch, native potato starch); function (thickener, binder, stabilizer, disintegrant, and other functions); application (food & beverage [bakery & confectionery products, dairy products, soups, & sauces and savory & prepared food products, meat & seafood products, other food and beverage products], paper industry, pharmaceuticals & chemicals, animal feed, and other applications), and geography. The study also evaluates industry competitors and analyzes the regional and country-level markets.
Based on nature, in 2022, the conventional segment is expected to account for the largest share of the potato starch market. The large market share of this segment is mainly attributed to its low cost, easy availability, and rising adoption in the paper and chemical industries. However, the organic segment is projected to register the highest CAGR during the forecast period.
Based on type, the potato starch market is segmented into modified and native potato starch. In 2022, the modified starch segment is expected to account for the larger share of the potato starch market. Key factors contributing to the dominant position of this segment are the growing application of modified potato starch in food & beverages, pharmaceuticals, and the paper industry due to its enhanced functional properties.
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Based on function, the potato starch market is segmented into thickener, binder, stabilizer, Disintegrant, and other functions. The thickener segment is expected to register the highest CAGR during the forecast period of 2022-2029. The growth of this segment is mainly attributed to its strong demand from the food & beverage industry, and its efficient water-absorbing ability makes it suitable for savory products. It is primarily used to thicken the texture of food products to address consumer requirements and maintain a stable texture in various conditions.
Based on application, the potato starch market is segmented into food & beverage (bakery & confectionery products, dairy products, soups, sauces, savory and prepared foods, meat & seafood, and other food products); paper industry; pharmaceutical & chemical; animal feed; and other applications. In 2022, the food and beverage segment is expected to account for the largest share of the potato starch market. This segment is also projected to register the highest CAGR during the forecast period of 2022-2029. The growth of this segment is mainly attributed to increasing consumer awareness regarding the consumption of food products with natural ingredients, the wide range of potato starch applications in the food & beverages industry, the growing consumer preference for clean label & healthy products, and the rising demand for ready-to-eat and ready-to-cook food products.
Based on geography, the potato starch market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2022, Europe is expected to register the largest share of the potato starch market. However, Asia-Pacific is projected to register the highest CAGR during the forecast period of 2022-2029. The fast growth of this regional market is mainly attributed to people's changing lifestyles, rapid urbanization, the emerging trend of healthy food & food ingredients, increasing awareness about the health benefits of potato starch as an ingredient, and the growing trend of gluten-free and healthy food.
Some of the key players operating in the potato starch market are Cargill, Incorporated (U.S.), Ingredion Incorporated (U.S.), Roquette Frères (France), AGRANA Beteiligungs-AG (Austria), Emsland Group (Germany), KMC a.m.b.a. (Denmark), Südstärke GmbH (Germany), Peepes S.A. (Poland), Novidon B.V. (Netherlands), HANSELAND Ltd. (Turkey), Royal Ingredients Group B.V. (Netherlands), Meelunie B.V. (Amsterdam), and Agrum Foods India Pvt Ltd (India).
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/potato-starch-market-5382
Scope of the Report:
Potato Starch Market, by Nature
Conventional Potato Starch
Organic Potato Starch
Potato Starch Market, by Type
Modified Potato starch
Native Potato Starch
Potato Starch Market, by Function
Thickener
Binder
Stabilizer
Disintegrant
Other Functions
Potato Starch Market, by Application
Food & Beverages
Bakery & Confectionery Products
Dairy Products
Soups & Sauces and Savory & Prepared Food Products
Meat & Seafood Products
Other Food & Beverage products
Paper Industry
Pharmaceuticals & Chemicals
Animal Feed
Other Applications
Potato Starch Market, by Geography
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Spain
Rest of Europe (RoE)
Asia-Pacific (APAC)
China
Japan
India
Australia
Rest of Asia-Pacific (RoAPAC)
Latin America
Middle East & Africa
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