Global Industrial Starch Market
Industrial starch are ingredients extracted from various natural sources of production, such as potato, corn, rice, wheat, cassava, maize, tapioca, and various others. All of these sources provide the consumers with their own different functionalities and characteristics to the product they are included in. Although, the usage of starch is not just limited to food processing industry, a majority of its demand is dominated by this industry.
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The main factors behind the growth of the market are:
- Growth in demand for convenience food: With a number of changes in the lifestyles of individuals, the market for food processing and food manufacturing has also had to transform their offerings, this has translated into the way they manufacture and provide the end-use product in a different variation. This change in lifestyle has given rise to greater demand for convenient product offerings especially from the food industry. The growing demand for convenient foods are expected to have a positive impact on the market for industrial starches due to their wide-scale usage in food processing applications
- Multiple functionalities in diverse range of end-use industries: The innovations in the market associated with different source usage of starch production essentially results in greater applications of these products in vast industrial applications. Their functionalities provides various end-users with a wider usage characteristic due to the unique characteristics consisting in each individual product
The market is segmented on the basis of source as corn, wheat, cassava, potato, others; application as food & beverages, feed, others; form is segmented into dry form, liquid; function as stabilizing, thickening, film forming agents, gelling agent, texturizing, binding, emulsifying, sizing, moisture retention, coating
Some of the recent market developments are as follows:
- In September 2018, Cargill announced that they had expanded their product offerings for label-friendly functional starches with the launch of three new versions of potato starch produced for applications in meat, meat alternatives and various other culinary uses. The products have been launched worldwide under the company’s “SimPure” brand. The products have been designed for requiring low amount of food processing and provided consumers & industries varied options for instant and cook-up uses
- In July 2018, Ingredion announced the launch of two new corn starch ingredients that have been provided organic-certification. This launch will extend the existing ingredient offerings of functional, clean-label starches of the company. The products launched are designed to sustain under harsh processing environments and even cold temperatures in organic savory, alternative-dairy, refrigerated soups, sauces, baby foods and various others uses. With the availability of these ingredients food processors and manufacturers will be able to meet the rising levels of demands for organic, clean products with similar functionality of conventionally produced starches
“According to Data Bridge Market Research, global industrial starch market is growing at a substantial CAGR of 7.0% during the forecast period of 2018 to 2025”
Some of the major players operating in the market are Cargill, Incorporated, Archer Daniels Midland Company, Ingredion Incorporated, Tate & Lyle PLC, Agrana Beteiligungs-AG, Grain Processing Corporation, The Tereos Group, Royal Cosun, Altia Industrial Services, Everest Starch Pvt.Ltd., GreenTech Industries Ltd, Bangkok Starch Industrial Co., Ltd., Roquette Frères, Sahyadri Starch & Industries Pvt. Ltd., Nova Transfers Pvt. Ltd, Sanstar Bio-Polymers Ltd, Tantia Agrochemicals Private Limited and SPAC Starch Products Ltd among others.
Food processing and manufacturing segment globally are being faced with rising levels of demand for organic, clean-label ingredient usages. This growing demand is invoking the food ingredient manufacturers to focus on innovations in their product offerings. This focus has given rise to various alternate sources of starch production such as cassava and various others. The availability of these alternative sources comes with a variety of different functionalities and features, which is expected to invoke a greater demand from the market.
