Visiongain has published a new report entitled Modified Starch 2023-2033. It includes profiles of Modified Starch and Forecasts Market Segment by (Market Value (US$ billion), Market Volume (Thousand Ton)) Market Segment by Function (Stabilizers, Thickeners, Other Functions) Market Segment by Type (Starch Esters & Ethers, Cationic, Pre-gelatinized, Other Type) Market Segment by Source (Corn Starch, Cassava Starch, Wheat Starch, Potato Starch, Other Sources) Market Segment by End-Use (Food & Beverage, Animal Feed, Paper and Board, Pharmaceuticals, Textiles, Other End-Use) plus COVID-19 Impact Analysis and Recovery Pattern Analysis (“V”-shaped, “W”-shaped, “U”-shaped, “L”-shaped), Profiles of Leading Companies, Region and Country.
The global modified starch market was valued at US$12.8 billion in 2022 and is projected to grow at a CAGR of 3.3% during the forecast period 2023-2033.
The Market for Modified Starch Is Expected to Grow at a Significant Rate Over the Forecast Period
The market for modified starch is expected to grow at a significant rate over the forecast period, primarily driven by the growing demand for convenience foods. Convenience foods are foods that require minimal preparation time and effort, making them popular among busy consumers who have little time for cooking. Modified starch is commonly used in the production of convenience foods such as frozen meals, sauces, dressings, and soups, as it helps to maintain the texture and consistency of these products.
Another key driver of the market is the increasing awareness of the benefits of modified starch in various applications. For example, modified starch is used in the animal feed industry as a binder, which helps to improve the quality and consistency of the feed. It is also used in the papermaking industry to improve the strength and texture of paper products.
Recent developments in the market include the launch of new modified starch products with enhanced functional properties. For example, Ingredion, a leading player in the modified starch market, recently launched a new modified potato starch product that is designed to provide enhanced texture and stability in food applications. Another major player, Cargill, recently introduced a new line of modified tapioca starch products that are designed for use in gluten-free and clean-label applications.
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How has COVID-19 had a significant negative impact on the Modified Starch Market?
The COVID-19 pandemic has had a significant impact on the modified starch market, as it has affected the food and beverage industry as a whole. The pandemic has disrupted global supply chains and led to changes in consumer behaviour and demand.
One of the major impacts of the pandemic on the modified starch market has been the increase in demand for convenience foods. With lockdowns and restrictions in place in many countries, consumers have been spending more time at home and cooking less. This has led to a surge in demand for packaged and processed foods, including convenience foods such as ready meals and snacks, which use modified starch as a key ingredient. The demand for convenience foods has also been driven by the closure of restaurants and other foodservice outlets, leading consumers to rely more on pre-packaged food options.
Another impact of the pandemic has been the shift towards plant-based and healthier food options. Consumers have become more health-conscious and are seeking out foods that support their immune system and overall health. Modified starch is widely used in the production of plant-based and healthy foods, such as meat substitutes, dairy alternatives, and low-fat snacks. This has led to an increase in demand for modified starch in these sectors.
How will this Report Benefit you?
Visiongain’s 310-page report provides 123 tables and 196 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the global modified starch market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Modified Starch. Get financial analysis of the overall market and different segments including type, source, end-use, and function and capture higher market share. We believe that there are strong opportunities in this fast-growing modified starch market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the Current Market Drivers?
Growing Demand for Convenience Foods
The growing demand for convenience foods is one of the key drivers of the modified starch market. Convenience foods are gaining popularity as consumers look for quick and easy meal solutions that fit their busy lifestyles. Modified starch is widely used as a thickening, stabilizing, and emulsifying agent in the production of various convenience foods such as soups, sauces, and frozen meals. As a result, the demand for modified starch in the food and beverage industry is expected to continue to grow.
In recent news and developments, there has been a significant increase in the demand for convenience foods due to the COVID-19 pandemic. With people spending more time at home and cooking less, the demand for packaged and processed foods has increased. This has led to an increase in demand for modified starch as manufacturers look to produce convenience foods with improved texture and stability.
Increasing Awareness of the Benefits of Modified Starch
Modified starch has gained popularity in recent years due to its functional properties, making it a preferred choice for a wide range of applications in various industries such as food, paper, textiles, and pharmaceuticals. Its versatility in applications such as thickening, stabilizing, and emulsifying has made it a key ingredient in many food and non-food products.
One of the main benefits of modified starch is its ability to improve the texture, consistency, and stability of food products. It can also be used as a fat replacer in some products, helping to reduce the overall fat content while maintaining the desired texture and flavour. This makes it a valuable ingredient for food manufacturers who are looking to produce healthier products without compromising on taste.
In the pharmaceutical industry, modified starch is used as a binder and disintegrate in tablet formulations. Its use has been linked to improved bioavailability of certain drugs, resulting in better therapeutic outcomes for patients. Additionally, modified starch has shown potential in wound healing applications, with studies showing that it can help to accelerate the healing process.
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Where are the Market Opportunities?
Clean Label and Natural Products as a Market Opportunity
The demand for clean label and natural products is a significant market opportunity for the modified starch market in the US. Consumers are increasingly concerned about the safety and quality of the food they consume, and are seeking products that are made with natural and clean label ingredients. Modified starches that are derived from natural sources and meet clean label requirements are expected to gain significant market traction in the coming years.
Recent news and developments highlight the growing demand for natural and clean label modified starches. In 2022, Cargill, a key market player in the modified starch market, launched a new line of natural and clean label starches derived from corn and tapioca. The starches are designed to meet the growing demand for natural and clean label ingredients and can be used in a wide range of applications, including sauces, dressings, and soups.
Ingredion Incorporated, another major player in the modified starch market, has also launched a range of natural and clean label modified starches derived from corn and potato. The company's range of natural and clean label starches is designed to meet the growing demand for clean label and natural ingredients in the food and beverage industry.
Plant-Based Products Present a Significant Market Opportunity
Plant-based products present a significant market opportunity for the modified starch market. The demand for plant-based products, including meat alternatives, dairy alternatives, and plant-based beverages, has been steadily growing in recent years due to various factors such as health and environmental concerns. Modified starches can be used as a key ingredient in plant-based products as a stabilizer, thickener, and binder, providing texture and mouthfeel to these products.
Recent news and developments highlight the market opportunity presented by plant-based products for the modified starch market. For instance, in 2022, Ingredion Incorporated launched a range of plant-based meat alternatives, including burgers and sausages, using its proprietary modified starches. The modified starches provide the necessary texture and binding properties required for plant-based meat alternatives and have been well-received by consumers.
Competitive Landscape
The major players operating in the modified starch market are Agrana, Archer-Daniels-Midland Company (ADM), Cargill, Incorporated, Emsland Group, Grain Processing Corporation (GPC), Ingredion Incorporated, KMC (Kartoffelmelcentralen A.m.b.a), Qingdao CBH Co., Ltd, Roquette Frères, Royal Avebe U.A., Royal Ingredients Group BV, SMS Corporation, SPAC Starch Products, Tate & Lyle, Tereos S.A.. These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.
Recent Developments
- 24 Jan 2023, BASF and Cargill expanded cooperation to their existing feed enzymes development and distribution agreement. Together, the two companies are committed to bringing to market innovative enzyme-based solutions that provide distinct value to animal feed customers. The partners will form a joint innovation pipeline for animal protein producers by combining BASF's enzyme research and development strengths with Cargill's application know-how and broad market reach.
- 06 April 2022, Etenia ES, a new multifunctional texturizing potato solution for creamy dairy products, was launched by Royal Avebe. The product perfectly addresses the customer desire for dairy products that are clean label, delicious, and guilt-free.
To access the data contained in this document please email oliver.davison@visiongain.com
To find more Visiongain research reports on the Food and Drink sector, click on the following links:
- Fresh Food Packaging Market Report 2022-2032
- Food High Pressure Processing (HPP) Equipment Market Report 2023-2033
- Food for Special Medical Purpose (FSMP) Market Report 2020-2030
- Food Flavour Enhancer Market Report 2020-2030
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