Newark, Oct. 12, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 14.7 billion modified starch market will reach USD 19.5 billion by 2032. In the long run, the market for modified starch, which is heavily used in various culinary applications and is driving the entire market, is experiencing growing demand as the global economy gradually improves and leads to increased consumption of processed and convenience foods. Modified starches are used in the food and beverage industry as stabilizers, thickeners, and emulsifiers. The need for these functional components is expanding due to urbanization, population growth, and changing dietary trends.
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Asia Pacific to account for the largest market size during the forecast period.
Asia Pacific is expected to have the essential modified starch market share. Consumers are becoming more aware of the advantages of low-fat foods, particularly in developing countries, such as India and China, which are some of the top maize and corn starch producers. The market is also expanding due to new product developments. Increasing urbanization also increases the demand for fast and processed food, increasing the demand for modified starch.
The cassava segment dominated the market with the most significant revenue of USD 4.26 billion.
The cassava segment dominated the market with the most significant revenue of USD 4.26 billion. Cassava is the most prominently used starch in the absence of wheat, corn or other raw materials, as these are widely available worldwide and can be used for manufacturing modified starch.
The dry segment dominated the market with the most significant revenue of USD 8.37 billion.
The dry segment dominated the market with the most significant revenue of USD 8.37 billion. The dry form of modified starch is easy to transport and use, increasing the demand for dry modified starch.
The industrial segment dominated the market with the most significant revenue of USD 4.55 billion.
The industrial segment dominated the market with the most significant revenue of USD 4.55 billion. Most industries, such as paper, food, and cosmetics, widely use modified starch as it offers useful properties and serves as a processing aid, propelling the segment's growth.
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Market Dynamics:
Drivers: Growing trend for processed food
The growing population is driving the demand for processed and convenient foods. An essential and useful element found in ready-to-eat food products is modified starch. Modified starch demand and the need for processed foods are rising, which is anticipated to accelerate market expansion. Modified starch gives processed foods useful qualities, including texture, flavour, and thickness. Additionally, it prolongs the shelf life of food products.
Restraint: Increasing cost of raw materials
Raw materials for preparing modified starch include corn, rice, wheat, and tapioca, whose production depends on stable climatic conditions. However, the changing climatic conditions hamper the production of these raw materials, and the increasing cost of transportation of raw materials also hampers the market's growth.
Opportunity: Untapped application
A wide range of biotechnological products, including organic acids, antibiotics, vitamins, and hormones, can be produced in large quantities using modified starch as a fermentation foundation. Starch-derived carbohydrates have a very high commercial value because they are the only carbon source that provides energy for maintaining biological processes. Glucose obtained from starch can be fermented to create lactic acid, which can then be polymerized to create biodegradable plastics or films. Similarly, leftover potato starch can also be used as a feedstock in fermentation processes, providing growth opportunities for the market.
Challenge: Increasing demand for gum arabic
The use of starch derivatives in food and beverage production is expanding. Using modified starches is contributing to growth in the global beverage industry. However, the preference for gum Arabic over modified starch is a barrier to the market's expansion. According to studies, beverages stabilized with gum Arabic sources are more consistent than those stabilized with modified starches. In addition to beverages, confectionery, used to stop sugar crystallization, is another area where gum Arabic is becoming a danger to modified starches.
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Some of the major players operating in the modified starch market are:
● Ingredion Incorporated
● Royal Ingredients Group
● Grain Processing Corporation
● Global Bio-Chem Technology Group Company Limited
● SPAC Starch Products
● KMC
● Tereos
● Archer Daniel Midlands Company
● Tate & Lyle
● Roquette Freres
● Emsland
● AGRANA
● Qindao CBH Co., Ltd.
● CARGILL
● Avebe U.A.
● SMS Corporation
Key Segments cover in the market:
By Raw Material:
● Potato
● Wheat
● Corn
● Cassava
By Form:
● Liquid
● Dry
By End-User:
● Feed
● Food and Beverages
● Industrial
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About the report:
The global modified starch market is analyzed based on value (USD billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. They have a robust forecasting and estimation model to meet the client's objectives of high-quality output within a short period. They provide both customized (client-specific) and syndicate reports. Their repository of syndicate reports is diverse across all the categories and sub-categories across domains. Their customized solutions meet the client's requirements whether they are looking to expand or planning to launch a new product in the global market.
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