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Modified Starch Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region| By The Business Research Company
Modified Starch
The Business Research Company offers in-depth market insights through Modified Starch Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The modified starch market size has grown strongly in recent years. It will grow from $12.12 billion in 2023 to $12.86 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to globalization and trade, regulatory changes and standards, industrialization and urbanization, gluten-free market demands, expansion in non-food sectors.
The modified starch market size is expected to see strong growth in the next few years. It will grow to $16.34 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to rising demand for convenience foods, growth in functional foods market, expanding use in pharmaceutical industry, sustainable packaging solutions, trends in gluten-free products. Major trends in the forecast period include clean label demands, functional food demand, health consciousness, expansion in food industry, gluten-free and allergen-free products.
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Market Segmentation:
The modified starch market covered in this report is segmented -
1) By Type: Cationic Starch, Etherified Starch, Resistant Starch, Pre-Gelatinized
2) By Raw Material: Potato, Corn, Cassava, Wheat, Other Raw Materials
3) By Application: Food And Beverages, Animal Feed, Paper-Making, Weaving And Textiles, Pharmaceuticals, Other Applications
Major Driver - Rising Investments Fuels Growth In The Modified Starch Market
The increasing investment in the modified starch industry is expected to propel the growth of the modified starch market. Large players are investing in the modified starch industry to meet the demand, due to the increasing consumption of modified starch in various applications including food and beverage, paper, pharmaceuticals, textile, and other applications. For instance, in June 2023, BENEO GmbH, a Germany-based functional ingredients company, invested $6.4 million (€6 million) in expanding drying capacity at its Wijgmaal factory, featuring a new drum dryer within a 1,000m2 facility. The expansion aimed to meet the growing demand for its specialty rice starch ingredients and secure the future growth of its pre-cooked rice starch portfolio. Therefore, the increasing investment in the modified starch industry is expected to propel the growth of the modified starch market.
Competitive Landscape:
Major companies operating in the modified starch market report are Cargill Inc., Archer Daniels Midland Company, Ingredion Incorporated, AAK Group, AGRANA, Tate & Lyle Ingredients Americas LLC, SMS Corporation, Manildra Group, Roquette Frères, Avebe U.A., MGP Ingredients Inc., Penford Corporation, PT. Budi Starch & Sweetener Tbk, Beneo GmbH, Grain Processing Corporation, Qindao CBH Co Ltd., Global Bio-Chem Technology Group Company Limited, Advanced Biochemical (Thailand) Co Ltd., Everest Starch (India) Pvt Ltd., Emsland Inc., SPAC Starch Products (India) Ltd., Lipoid Kosmetik AG, Royal Ingredients Group, Shandong Fuyang Biotechnology Co Ltd., Shree Ambika Agro Processing Industries Pvt Ltd., Starch Asia Co Ltd., Rich Grains International LLC, Shanghai Riken Technology Co Ltd.
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Top Trend - Strategic Partnerships Reshaping The Modified Starch Market
Major companies operating in the modified starch market are focusing on strategic collaboration, to provide reliable services to customers. Strategic collaboration refers to a mutually beneficial partnership between two or more independent entities who work together to achieve shared goals aligned with their individual strategic objectives. For instance, in April 2021, Cargill Incorporated, a US-based food company, announced a partnership with Starpro Starch (Thailand) Co. Ltd., a Thailand-based food grade modified starch company. The collaboration helps Cargill to enhance its specialty tapioca starch offerings in the Asia Pacific region. The collaboration aims to meet the evolving product processing needs of food manufacturers and align with consumer sensory preferences. The partnership enables Cargill to leverage its expertise in the modified starches industry and support innovations for growth, catering to the rising demand in convenience and foodservice categories. The agreement encompasses a range of locally manufactured modified tapioca starches for the food industry in Asia Pacific and globally, reinforcing Cargill's commitment to being the preferred partner for customers in the region.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Modified Starch Market Characteristics
3. Modified Starch Market Trends And Strategies
4. Modified Starch Market - Macro Economic Scenario
5. Modified Starch Market Size And Growth
…..
27. Modified Starch Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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