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Modified Starch Market To Witness Enhanced Usage In Paper Production, Pharmaceuticals and Food & Beverage Industries Till 2024 | Million Insights
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In terms of global market size, the modified starch market was valued at USD 8.97 billion in the year 2015 and is projected to experience a significant growth over the forecast period on account of its increasing requirement from numerous application industries which consist of paper, pharmaceuticals and food & beverage.
The modified starch products have developed their dominance in the food & beverage sector as it is used as a thickening agent, emulsifier, stabilizer and emulsifier for manufacturing biscuits, noodles, confectionary, bakery and other food products.
Increasing demand for modified starch based products from the packaged food andconvenience food sector is expected to drive the market further. This has also caused improving margins of the food processing sector in the recent past.
Full Research Report On Modified Starch Market Global Analysis available at: https://www.millioninsights.com/industry-reports/modified-starch-market?utm_source=pressrelease&utm_medium=referral&utm_campaign=openpr_shree_sep08&utm_content=Content
In addition, innovations in processing and packaging technologies in the food & beverage sector in Europe and the U.S. is expected to fuel the growth of packaged food industry. Advantages such as extended shelf life and easy-to-use options are expected to enhance the demand for convenience food products. These numerous factors are anticipated to influence the industry growth over the next eight years.
Application Insights
In terms of global volume, the food & beverage sector accounted for 32.70% share in 2015. The modified starch is added to frosted products to avoid dripping when defrosted. These modified starches, bond with phosphate and let the starch absorb extra water and hold the ingredients together. These properties are anticipated to improve penetration of modified starch in the food industry.
The second largest application industry in 2015 was paper production which accounted for over 2 million tons of the total demand. Its wide usage in numerous functions such as sanitary, packaging and stationary are expected to drive the growth for paper market.
The capability of the product to form an improved quality of paper by the correct treatment of cellulose obtained is a major factor driving its usage in the paper sector. Initiatives undertaken by numerous governments in emerging economies in APAC to increase literacy among its people is presumed to influence the demand for writing paper, therefore, enhancing the overall growth over the forecast period.
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Product Insights
In terms of volume, cationic starchis projected to experience the fastest growth at a CAGR 6.90% over the forecast period. These ingredients have the capability to act as a wet-end additive, which assists in increasing paper strength along with fiber-to-fiber interaction. These properties of cationic starchledthe increasing demand for modified starchin paper sector.
The rising penetration of starch ethers & esters in the food industry owing to their excellent properties which such as low fat, texture and improving taste is expected to propel the growth. In terms of value, resistant starch market surpassed USD 1.9 billion in the year 2015 owing to its high necessity in the food & beverage industry.
Regional Insights
In terms of global volume share, North America accounted for more than 40% in the year 2015. The increasing food & beverage sector in North America, particularly in Mexico and the U.S. is presumed to enhance the overall demand.
The strong manufacturing base of the food industry together with rising demand in Germany is anticipated to enhance demand in the region over the next eight years. The modified starch market in Europe is projected to account for a market share of 21.50% by 2024.
Optimistic outlook towards the textile industry in India, Malaysia and China owing to increasing local consumption, along with favorable regulatory norms to attract investments is presumed to enhance the expansion. In addition, high consumption of modified starch in paper industry is projected to promote market expansion over the next eight years.
Competitive Insights
The modified starch market is highly fragmented andcompetitive in nature. The industry is dominated by limited number of companies which such as Ingredion Inc., Archer Daniels Midland Comp., Roquette Freres, and Cargill Inc., which are integrated across the value chain. These players also consume modified starch to produce finished goods.
The players in the market have been emphasizing on R&D activities over the recent past to develop and produce better modified starch-based products. In 2016, Avebe announced that the firm had arrived in the final stage of their potato harvest movement after which it would be possible to harvest greater quality food products to advance potato starch and enlarge their production.
Roquette Group modified starch extracted from numerous raw materials which consist of waxy maize, wheat, potato, pea and maize are mostly used in confectionary and bakery market. Roquette Group has acquired three India based starch manufacturing sites establishing joint venture trade to strengthen its foot hold in Asia-Pacific region.
Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/food-and-beverage
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