Modified Starch Market Set to Reach $14.4 Billion by 2032, Driven by Rising Demand in Food and Industrial Applications

Allied Market Research recently published a report where it projected the global modified starch market to reach $14.4 billion by 2032, growing at a CAGR of 4.9% from 2023 to 2032. The industry was valued at $9.0 billion in 2022. The study also examines different segments of the sector based on factors such as type, function, application and region. Additionally, it offers an in-depth analysis of the competitive landscape, using tools including Porter's Five Forces to help companies make informed investment choices.

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The global modified starch market is driven by include growth in consumption in convenience food; facilitated modification of its functional properties; increase in usage in pharmaceutical, cosmetics, and paper industries. However, presence of possible alternatives of modified starch in the market and volatility in raw material prices may hamper the market growth. The new & potential sources of modified starch and its untapped applications present numerous opportunities for market.

A key factor influencing the modified starch market growth is its expanding use across various industries. This includes food & beverages, pharmaceuticals, and paper production. The food sector remains the largest consumer, utilizing modified starches for their thickening, gelling, and stabilizing properties. Government data supports this trend, with the U.S. Department of Agriculture noting strong corn production, projected at 14.8 billion bushels in 2023. In India, initiatives from the Ministry of Food Processing Industries are enhancing modified starch usage, fueling growth in a $369 billion industry. Additionally, advancements in food processing, especially clean-label products, are increasing demand for versatile modified starches.

Based on application, the market is classified into food & beverages, animal feed, paper-making, weaving & textiles, pharmaceuticals, and others. The food & beverages application is the largest application segment, covering more than half of the market share. Moreover, paper-making and pharmaceuticals are the other main applications of the market, growing at significant growth rates.

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Industry trends:

Government initiatives: The modified starch market is witnessing growth influenced by increasing demand across various sectors, including food, pharmaceuticals, paper, and textiles. This expansion is supported by government initiatives aimed at enhancing food security and promoting agricultural development. For instance, India's National Food Processing Policy and subsidies for maize and cassava cultivation are encouraging local starch production.

Replacement of synthetic additives: Consumer preferences are also inclining toward health-oriented choices, including clean-label and gluten-free products. The European Union's Regulation (EU) No 1169/2011 on food labeling has prompted many manufacturers to replace synthetic additives with modified starches. This trend is further enhanced by government-supported research into non-GMO and organic starch sources, encouraging innovation in the industry. Consequently, modified starches are incorporated into processed foods, convenience meals, and functional food products.

Regional analysis

In 2022, the Asia-Pacific modified starch market represented 37.3% of the overall market share and is expected to experience the highest growth rate, with a CAGR of 5.3% during the forecast period. Rapid economic development, population growth, and urbanization in the region are key factors driving this expansion. The large population and rising disposable incomes are boosting the demand for processed foods, resulting in greater use of modified starches as functional ingredients.

To conclude, the study provides detailed and high-quality research that improves business analysis and forecasts. AMR's in-house specialists create customized tools for various industries, ensuring data is refined for precise calculations. Utilizing analytical techniques such as Porter's Five Forces, they offer expert insights on trends to assist stakeholders and investors in achieving their growth objectives.

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The global modified starch market is segmented on the basis of raw material, type, application, function, and geography. Based on raw material, it is divided into maize, cassava, potato, wheat, and others. According to type, it includes cationic starch, etherified starch, esterified starch, resistant starch, and pre-gelatinized starch. Based on application, the market is classified into food & beverages, animal feed, paper-making, weaving & textiles, pharmaceuticals, and others. The food & beverages sector is classified into confectionery, beverages, processed food, and others; while the animal feed is segmented into swine feed, ruminant feed, poultry feed, and others. Based on function, the market is divided into thickeners, stabilizers, binders, emulsifiers, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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