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Industrial Starch Global Market Analysis, Trends, Growth, Research And Forecast 2033
Industrial Starch Global Market
As per the report, 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 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%.
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Growing Pharmaceutical Industry Boosts The Demand For Industrial Starch
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.
Product Innovation Drives Growth In The Industrial Starch Market
Product innovation is a key trend gaining popularity in the industrial starch market. Major companies operating in the industrial starch sector are focused on developing new product innovations to strengthen their position. For instance, in March 2021, Ingredion Incorporated, a US-based food company, launched a new addition, ULTRA-TEX 1311, to its extensive range of potato-based solutions for the U.S. and Canada. ULTRA-TEX 1311 is a modified potato starch used in a large variety of traditional and alternative formulations for creating indulgent textures, improving stability vs. native potato starch, or replacing oil without sensory appeal. The starch is mainly ideal for plant-based, low-fat, reduced-fat, and ket*o-friendly applications.
The industrial starch market covered in this report is segmented -
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
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Major companies operating in the industrial starch market include Cargill Inc., Archer Daniels Midland Company, Grain Processing Corporation, Tereos S.A., Manildra Group, Everest Starch India Pvt Ltd, AGRANA Beteiligungs-AG, Ingredion Inc., Kent Nutrition Group Inc., Altia PLC, Angel Starch and Food Pvt Ltd, Japan Corn Starch Co Ltd, Karandikars Cashell Private Limited, Bangkok Starch Industrial Co Ltd, Tate & Lyle Plc, Penford Corporation., The cooperative Royal Avebe U.A., Beneo GmbH, Südstärke GmbH, Universal Starch Chem Allied Ltd., Visco Starch Pvt Ltd., SPAC Starch Products Limited, Nexeo Solutions, Penta Manufacturing Company, Roquette Freres S.A, Spectrum Chemicals & Laboratory Products, Universal Preserv-A-Chem Inc.
Contents of the report:
1. Executive Summary
2. Industrial Starch Market Report Structure
3. Industrial Starch Market Trends And Strategies
4. Industrial Starch Market - Macro Economic Scenario
5. Industrial Starch Market Size And Growth
…..
27. Industrial Starch Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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