Starch Derivatives Market to worth USD 74 Billion by 2023
Glucose syrup market was the dominant product and accounted for over 55% of the total demand in 2014 and is likely to register revenues worth over 44 billion by 2023. This product type is likely to witness highest gains over the forecast period owing to its increasing use for applications such as processed meats, convenience foods, sauces, bakery products, deserts and ice creams.
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Food & beverages was the dominant application segment and accounted for over 60% of the total demand in 2014. This application is likely to witness gains with an estimated CAGR of over 3.5% up to 2023.
Clyclodextrin market finds use in pharmaceutical applications to enhance solubility & bioavailability, enhance stability, reduce evaporation & stabilize flavors, reduce odors & tastes and reduce haemolysis. It is also use to convert liquids & oils to free flowing powders and prevent admisxture incompatibilities. CDs came into marketed products as drug delivery technologies. Various trade names based on CD derived products include Pansporin, Ulgut, Nitropen, Omebeta and Brexin.
In addition to drug delivery applications, they can also be used for extracting compounds. They have the capability to alter lipid distribution in vivo and affect with cell signaling through alteration of lipid raft systems. This application is still under clinical trials. New CD based formulations containing quaternized amine groups are also under development for ophthalmic formulations.
Emerging economies such as China & India are witnessing an increase in modified starch consumption owing to rapid industrialization and increase in per-capita middle class spending capacity. It is expected to witness an increase in utilization in areas of unexplored business applications such as functional foods, nutritional and healthcare.
Sustainable plastics derived from the starch derivatives market are seen as an important prospect for replacing synthetic plastics in packaging applications. They are also easy to process and intrinsic antistatic properties pose benefits in foam packaging. Thermoplastic starch (TPS) and starch blends are relatively more transparent than other bioplastics.
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Middle East & Africa and Latin America starch derivatives markets are considered to be high potential opportunities owing to growth of industries such as food & beverages, personal care products and pharmaceuticals. These regions are witnessing strong economic growth along with industrial development. Improvement in lifestyles coupled with urbanization is likely to propel for demand for industrial applications.
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