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Industrial Starch Market Key Insights, Leading Players, Market Trends, Analysis, Share And Forecast To 2033
Industrial Starch Market Insights
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industrial starch industry. This report on industrial starch market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The industrial starch market size has grown strongly in recent years. It will grow from $90.86 billion in 2023 to $98.43 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to traditional use of starch in food, paper, and textile industries, global population growth and increasing food consumption, demand for convenience foods and processed food products, expansion of the paper and packaging industry, growth in textile and pharmaceutical applications of starch.
The industrial starch market size is expected to see strong growth in the next few years. It will grow to $135.67 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to adoption of starch-based biofuels and renewable resources, expansion of starch in non-food industrial applications (e.g., adhesives, textiles), demand for clean label and natural ingredients in various industries, research and development in modified and specialty starches, growing use of starch in pet food and animal feed formulations. Major trends in the forecast period include clean label and natural starch products, starch-based adhesives and binders, resistant starch for functional foods, modified starches for texture and stability, starch-based biomaterials and polymers.
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Key Market Players:
Cargill Inc., Archer Daniels Midland Company, Grain Processing Corporation, Stereos S.A., Malinda Group, Everest Starch India Pvt. Ltd., AGRANA Beteiligungs-AG are prominent players in the industrial starch industry.
Market Drivers:
According to the Industrial Starch Market Report 2024 by The Business Research Company, The rise of the pharmaceutical industry is expected to propel the growth of the industrial starch market. The pharmaceutical industry refers to the discovery, evolution, and manufacture of drugs and medications (pharmaceuticals) by public and private organizations. Starches are being used in the pharmaceutical industry for numerous reasons, such as an excipient, a tablet and capsule diluent, a tablet and capsule disintegrant, a glidant, or a binder. For instance, according to the Indian Economic Survey 2021, India's domestic pharmaceutical market reached USD 42 billion in 2021 and is expected to reach USD 65 billion by 2024 and will further expand to reach around USD 120-130 billion by 2030. Therefore, the rising pharmaceutical sector will drive the growth of the industrial starch market.
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Market segments for industrial starch include:
1) By Product: Cationic Starch, Ethylated Starch, Oxidized Starch, Acid Modified Starch, Unmodified Starch
2) By Source: Corn, Wheat, Cassava, Potato, Other Sources
3) By Application: Food, Feed, Paper Industry, Pharmaceutical Industry, Other Applications
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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Browse More Reports:
Cationic Starch Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/cationic-starch-global-market-report
Starch Derivatives Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/starch-derivatives-global-market-report
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