Modified Starch Market to be Worth $17.3 Billion by 2030


Meticulous Research®—a leading global market research company, published a research report titled, ‘Modified Starch Market by Product Type (Starch Esters, Pre-gelatinized), Raw Material (Corn, Cassava), Production Method (Chemical), Function (Thickener, Stabilizer), Form (Liquid), End User Industry (Food and Beverages, Personal Care) - Global Forecast to 2030.’

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According to this latest publication from Meticulous Research®, the modified starch market is expected to grow at a CAGR of 3.8% from 2023 to 2030 to reach $17.3 billion by 2030. The growth of this market is attributed to the rise in demand for convenience and processed food, functional properties of modified starch and their wide range of food applications, increasing investments in the starch market, growing demand for bio-based products, technological advancements in the production of modified starches, and growing bakery industry. Additionally, potential alternative sources of modified starch and emerging economies offer significant growth opportunities for modified starch manufacturers. However, limited sources, the high cost of natural additives, and the high demand for gum Arabic restrain the modified starches market growth.

The modified starch market is segmented based on product type, raw material, production method, function, form, end user, and geography. The study also evaluates industry competitors and analyses the market at the regional and country levels.

Based on product type, the modified starch market is segmented into starch esters & ethers, pre-gelatinized starch, resistant starch, cationic starch, and other products. In 2023, the starch esters & ethers segment is expected to account for the largest share of the modified starch market. The high demand for starch esters and ethers is attributed to the unique properties that make them suitable for a wide range of applications and their natural origin. Starch ethers are commonly used as thickening agents in personal care products like shampoos and lotions, while starch esters are used as emulsifiers in food products like margarine and salad dressings. However, the cationic segment is expected to register the highest CAGR during the forecast period.

Based on raw material, the modified starch market is segmented into corn, cassava, potato, wheat, and other raw materials. In 2023, the corn segment is expected to account for the largest share of the modified starch market. The large market share of this segment is attributed to its various benefits, such as versatility and low cost, widespread availability and high demand, and it is widely used in the food and beverage industry. However, the cassava segment is expected to register the highest CAGR during the forecast period due to their rising adoption as an economical source of starch, extensive use in various applications, stability and high paste clarity.

Based on production method, the modified starch market is segmented into physical, enzymatic, and chemical modification. In 2023, the physical modification segment is expected to account for the largest share of the modified starch market. Physical modification is a common method used to modify starch because it is a relatively simple and cost-effective process that can produce a range of functional properties in the starch. However, the chemical modification segment is expected to register the highest CAGR during the forecast period as it is meant for tailoring its properties to meet the specific requirements of various applications.

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Based on function, the modified starch market is segmented into thickener, binder, stabilizer, emulsifier, and other functions. In 2023, the thickener segment is expected to account for the largest share of the modified starch market. The use of modified starch as a thickener is widely accepted and preferred in various industries due to its ability to enhance product texture, stability, shelf life, and cost-effectiveness. However, the emulsifier segment is expected to register the highest CAGR during the forecast period.

Based on form, the modified starch market is segmented into dry/powder and liquid. In 2023, the powder segment is expected to account for the larger share of the modified starch market. The large market share of this segment is attributed to the benefits offered by powdered-modified starches over liquid-modified starches, such as better homogeneity, ease of use & transportation, better stability, and availability in a wide range of grades to suit different applications. However, the liquid segment is expected to register the highest CAGR during the forecast period due to the increasing demand from beverage manufacturers, cost-effectiveness, ease of use, and its ability to improve the texture, stability, visual aspect, and functionality of various products, while also being cost-effective and easy to use.

Based on end-user industry, the modified starch market is segmented into food and beverages, animal nutrition, textile, cosmetics and personal care, pharmaceutical, papermaking, and other end-user industries. In 2023, the food and beverage segment is expected to account for the largest share of the modified starch market. However, the cosmetics and personal care segment is expected to register the highest CAGR during the forecast period, as modified starch is increasingly being used as a cost-effective alternative to other thickening and stabilizing agents, such as gums and synthetic polymers commonly used in this industry.

Based on geography, in 2023, North America is expected to account for the largest share of the modified starch market. North America’s major market share is attributed to the well-established food & beverage sector, increasing demand for natural and sustainable ingredients, high awareness about the benefits of modified starch in various applications, and the presence of major market players in the region. However, Asia-Pacific is projected to register the highest CAGR during the forecast period.

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Key Players

The key players operating in the modified starch market are Cargill, Incorporated (U.S.), Ingredion Incorporated (U.S.), Archer Daniels Midland Company (U.S.), Tate & Lyle Plc (U.K.), Roquette Frères (France), AGRANA Beteiligungs-AG (Austria), AVEBE U.A. (Netherlands), Emsland-Stärke GmbH (Germany), Grain Processing Corporation (U.S.), Global Bio-chem Technology Group Company Limited (China), Asia Fructose Co., Ltd. (Thailand), Angel Starch and Foods Pvt. Ltd. (India), SMS Corporation (Thailand), Royal Ingredients Group B.V. (The Netherlands), and SPAC Starch Products Ltd. (India).

Key questions answered in the report-

·  Which are the high-growth market segments in terms of product type, raw material, production method, function, form, end user, and country/region?

·  What is the historical market for modified starch across the globe?

·  What are the market forecasts and estimates for the period of 2023 to 2030?

·  What are the major drivers, restraints, challenges, opportunities, and trends in the modified starch market?

·  Who are the major players in the global market, and what are their market shares?

·  Who are the major players in various countries, and what are their market shares?

·  How is the competitive landscape?

·  What are the recent developments in the modified starch market?

·  What are the different growth strategies adopted by the major players in the market?

·  What are the key geographic trends, and which are the high-growth countries?  

·  Who are the local emerging players in the modified starch market, and how do they compete with other players?

 

 

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