Global Modified Starch Market Size to Reach USD 17.73 Billion in 2032 | Emergen Research

Vancouver, Oct. 31, 2023 (GLOBE NEWSWIRE) -- The global modified starch market size is expected to reach USD 17.73 Billion in 2032 and register a revenue CAGR of 2.6% during the forecast period, according to the latest analysis by Emergen Research. Rising demand for convenience and processed food is a major factor driving the market revenue growth. Modified starches are utilized as a stabilizer, and thickeners to enhance the texture, consistency, and shelf life of processed food in a variety of products, such as batters and breading, dairy and dessert items, soups and sauces, confectionary, dressings, and confectionery. For instance, it prevents ice crystals in yogurt and ice cream, resulting in a creamier texture. It improves the stability of dairy-based formulations, ensuring uniform distribution of ingredients and better sensory attributes hence driving the market revenue growth.

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Rising demand for modified starch since it is utilized in pharmaceutical formulations as a binder, disintegrate, and filler to improve drug distribution and bioavailability is another factor driving the market revenue growth. It is commonly used in tablets, capsules, and other oral dosage forms to provide controlled medicine release, improve patient compliance, and increase dissolution rate.

However, modified starches often have lower nutritional content compared to native starches because the modification process can lead to a reduction in essential nutrients such as vitamins and minerals which is a major factor restraining the market revenue growth.

Scope of Research

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Major Companies and Competitive Landscape

The global modified starch market is fragmented with large and medium-sized market players accounting for the majority of revenue. Major players are deploying various strategies, entering into mergers and acquisitions, strategic agreements and contracts, developing, testing, and introducing more effective in the market. Some major players included in the market report are:

•  Ingredion.
• ADM.
• Cargill, Incorporated.
• Tate & Lyle.
• Roquette Frères.
• AVEBE.
• Emsland Group.
• Grain Processing Corporation.
• SMScor.
• Südstärke GmbH.
• BENEO.
• AGRANA Beteiligungs-AG.
• Tereos.
• Universal Starch Chem Allied Ltd.
• Angel Starch And Food Private Limited.
• Sunar Mısır.
• Banpong Tapioca.
• Gulshan Polyols Ltd.
• Gujarat Ambuja Exports Limited.
• Limagrain.

Strategic Development

• On 28 October 2020, Tate & Lyle PLC, a leading global provider of food and beverage ingredients and solutions, announced the signing of an agreement to acquire an 85% stake in Chaodee Modified Starch Co., Ltd., a well-established Thai tapioca-modified food starch manufacturer. Tate & Lyle's footprint in specialty tapioca-based texturants expanded with this investment, which also developed a dedicated production plant in the primary tapioca region of eastern Thailand.  Tate & Lyle was able to offer a greater range of tapioca-based solutions to fulfill customers' needs for better tasting and clean label goods in areas such as dairy, bakery, snacks, noodles and soup, sauces, and dressings as a result of the acquisition.

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Some Key Highlights From the Report

• The potato segment accounted for a significantly large revenue share in 2022. Rising demand for modified potato starch in food sector since a variety of items such as soups and gravies, pie fillings, and others contain modified potato starch as a food ingredient and is used for thickening, stabilizing, or emulsifying which is a major factor driving revenue growth of this segment. It is commonly used as a thickening in several dishes because potato starch absorbs water well. Potato starch is used as a gluten-free substitute for flour in baking recipes because it is gluten-free which is another factor contributing to revenue growth of this segment. For instance, it is commonly used in baking recipes such as muffins, quick bread recipes, and gluten-free flour mixes.
• The liquid segment accounted for a significantly large revenue share in 2022. Rising demand for liquid-modified starch as it is used in various industries and applications owing to its ability to improve texture, stability, and other properties in a wide range of products is a major factor driving revenue growth of this segment. The viscosity of sauce can be increased with modified tapioca starch, giving it a smoother and more attractive texture. When starch particles are combined with water, they hydrate and swell, generating a thick gel-like consistency which contributes to the desired thickness and body in the ketchup hence contributing to revenue growth of this segment.
• The Asia Pacific market accounted for largest revenue share in 2022.  Rising demand for modified starch in food and beverage industries in countries such as India, and China is a major factor driving market revenue growth in this region. Also, the availability of reasonably priced modified starch products and expansion of online shopping sites that provide discounts on these goods are fueling demand in the region. Rising demand for convenience and processed foods and significant demand for organic, gluten-free, and plant-based food items among individuals are other factors driving market revenue growth in this region.

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For the purpose of this report, Emergen Research has segmented the global modified starch market on the basis of source, type, application, function, form, distribution channel, and region:

• Source Outlook (Revenue, USD Billion; 2019–2032)
  • Corn
  • Potato
  • Cassava
  • Wheat
  • Tapioca
  • Other Sources
• Type Outlook (Revenue, USD Billion; 2019–2032)
  • Physically Modified Starch
  • Chemically Modified Starch
  • Enzyme Modified Starch
  • Genetically Modified Starch
• Application Outlook (Revenue, USD Billion; 2019–2032)
  • Food and Beverage Industry
  • Paper and Textile Industry
  • Pharmaceuticals
  • Animal Feed
  • Cosmetics and Personal Care
  • Other Industrial Applications
• Function Outlook (Revenue, USD Billion; 2019–2032)
  • Thickening Agent
  • Stabilizer
  • Gelling Agent
  • Binding Agent
  • Texturizer
  • Others
• Form Outlook (Revenue, USD Billion; 2019–2032)
  • Liquid
  • Powder
• Distribution Channel Outlook (Revenue, USD Billion; 2019–2032)
  • Direct Sales
  • Distributors and Wholesalers
  • Retailers
• Regional Outlook (Revenue, USD Billion, 2019–2032)
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • U.K.
    • France
    • Spain
    • BENELUX
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • Latin America
    • Brazil
    • Rest of LATAM
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Rest of MEA

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