Press release
Potato Starch Market to Surge at a Robust Pace In Terms Of Revenue Over 2032
The global potato starch market is anticipated to expand at a CAGR of 4.8%, being currently valued at US$ 10.27 Bn in 2022.
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As such, potato starch sales are predicted to be worth US$ 16.48 Bn b Potato starch consumption accounted for around 15% to 20% value share of the
global food ingredients market in 2021.y the end of the year 2032.
Potato Starch Demand Analysis (2017-2021) Vs Market Estimations (2022-2032)
Historical value CAGR of the potato starch market was 3.3% over the period of 2017-2021. The market is anticipated to register growth in terms of volume (MT) at a comparatively higher CAGR of 4.3% over the forecast period, i.e., 2022-2032.
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Insights by Category
Why is Native Potato Starch in High Demand?
Accounting for over 50% of the global market share in 2022, the native potato starch product type is highly favored. The segment's value is estimated at 3.9 million metric tons (MT) in 2022, projected to grow at a 4.5% Compound Annual Growth Rate (CAGR) during the forecast period.
Which Segment Drives the Majority Potato Starch Usage?
The food & beverages segment holds a significant market share, owing to the diverse applications of potato starch in various sub-segments. The evolving demand matrix for ingredients and additives underscores the dominance of versatile ingredients in this sector.
Anticipated growth for potato starch demand in the food & beverage segment is expected to reach a 5% CAGR over the forecast period.
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COVID-19 Impact on the Potato Starch Industry
The unprecedented pandemic led to reduced year-on-year growth in 2020, compared to 2019, impacting the global potato starch market. Lockdowns and precautionary measures significantly decreased industrial operations, consequently lowering the demand for raw materials.
Looking ahead, as end-use industries expand, the market outlook for potato starch remains optimistic. Increasing demands for products such as paper, textiles, and food & beverages are expected to drive the need for ingredients, leading to a positive market outlook for potato starch in the coming years.
The demand for potato starch is on the rise across various industries including bakery, dairy alternatives, confectionery, soups & sauces, and meat & seafood. This surge in demand can be attributed to the significant expansion of these sectors. As these industries continue to grow, the need for potato starch as a versatile and functional ingredient is expected to further increase.
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The U.S. Market is Estimated at $1.1 Billion, While China is Forecast to Grow at 8.5% CAGR .The Potato Starch market in the U.S. is estimated at US$1.1 Billion in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.3 Billion by the year 2030 trailing a CAGR of 8.5% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.2% and 4.4% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 4% CAGR.
Select Competitors (Total 52 Featured)
- Agrana Beteiligungs-AG
- AKV Langholt
- Aloja-Starkelsen
- Avebe
- Cargill, Inc.
- Emsland Group
- Finnamyl Ltd
- Ingredion
- Lyckeby
- Manitoba Starch
The potato starch market faces a number of challenges, including:
Fluctuating raw material prices: Potatoes are the primary raw material for potato starch production, and the price of potatoes can fluctuate significantly depending on factors such as weather conditions, crop yields, and demand. This can make it difficult for potato starch producers to maintain consistent pricing and profitability.
Increased competition from other starch sources: Potato starch competes with other starch sources, such as corn starch, wheat starch, and tapioca starch. These other starch sources are often more affordable and easier to produce than potato starch.
Stringent regulatory requirements: The potato starch industry is subject to a number of stringent regulatory requirements, such as food safety regulations and environmental regulations. These regulations can increase the cost of production and make it more difficult for potato starch producers to compete.
Consumer perception: Some consumers have a negative perception of potato starch, believing that it is unhealthy or processed. This can make it difficult for potato starch producers to market their products to consumers.
Despite these challenges, the potato starch market is expected to continue to grow in the coming years. This growth is being driven by the increasing demand for potato starch in a variety of industries, such as food and beverage, pharmaceuticals, and textiles.
Here are some of the potential solutions to the challenges faced by the potato starch market:
Contract farming: Potato starch producers can enter into contract farming agreements with potato growers to secure a reliable supply of potatoes at a stable price.
Product innovation: Potato starch producers can invest in research and development to develop new potato starch products with improved functionality and performance. This would help potato starch producers to differentiate their products from other starch sources.
Improved marketing: Potato starch producers can invest in marketing and education programs to improve consumer awareness of the benefits of potato starch. This would help to increase demand for potato starch products.
By addressing these challenges, the potato starch market can continue to grow and meet the needs of consumers in a variety of industries.
Segmentation
Potato Starch Industry Survey by Category
Potato Starch Market by Product Type:
Modified Potato Starch
Native Potato Starch
Potato Starch Market by Nature:
Organic Potato Starch
Conventional Potato Starch
Potato Starch Market by End Use:
Food and Beverages
Dairy Alternatives
Bakery
Confectionery
Soups & Sauces
Snacks & Savory
Meat & Seafood
Infant Formulae
Others
Industrial
Paper
Textiles
Chemicals
Pharmaceuticals
Cosmetics & Personal Care
Animal Nutrition
Potato Starch Market by Region:
North America Potato Starch Market
Latin America Potato Starch Market
Europe Potato Starch Market
East Asia Potato Starch Market
South Asia and Pacific Potato Starch Market
Middle East and Africa Potato Starch Market
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