Growing consumer concerns over nutrition and health coupled with changing preferences for a healthy appetite are expected to benefit the growth of the market. Furthermore, increasing need for natural sweeteners in non-carbonated soft drinks and energy drinks will increase the demand for the starch derivatives in the forecast period. Also, they are employed in the food and beverage business as stabilizers and thickeners, in the animal feed sector as a fiber additive, in the pharmaceutical sector as a tablet binder and in the cosmetics sector as an emulsifier. . As a result, the demand for the starch derivatives increase which will enhance the market growth.
According to Data Bridge Market Research the Starch Derivatives accounted for USD 1.5 billion in 2021 and is expected to reach the value of USD 2.26 billion by 2029, at a CAGR of 5.28% in the forecast period of 2022 to 2029.
“Growing demand for convenience and processed food products”
The market for starch derivatives is expected to expand owing to the increasing demand for processed and convenience food products during the projected period processed food and convenience food are some examples of tertiary packaged foods or foods that are designed to cut down on customer time spent in the kitchen, reduce costs through economies of scale and lessen waste-related costs. As a binding and gelling agent, starch derivatives have become a crucial environmentally friendly product over time. As a result of increased sugar prices, there has been a noticeable growth in the need for starch across the food and beverage industry. For instance, it is predicted that the market for processed snacks will grow from USD 96.9 billion in 2020 to USD 142.0 billion in 2025. Therefore, the increasing demand for processed and convenience food is expected to drive the growth of the starch derivatives market during the forecast period of 2022-2029.
What restraints the growth of Starch Derivatives Market?
“Increasing prices of starch derivatives”
Increasing prices of starch derivatives have a negative effect on the growth of the starch derivatives market during the forecast period of 2022-2029. The cost of manufacturing starch derivatives is affected by the increase in the price of raw materials from natural sources including wheat, cassava, corn, and rice, which raises the price of the final product. For instance, the cost of corn surged by more than 50% in 2021, reaching a record-high $7.50 per bushel. The market for starch derivatives is anticipated to be constrained by the rise in raw material prices.
Segmentation: Starch Derivatives Market
The starch derivatives market is segmented on the basis of application, type, raw material, form.
- On the basis of application, the starch derivatives market is segmented food & beverages, industrial, papermaking, weaving & textiles, medicines & pharmaceuticals, cosmetics, other industrial applications, feed.
- Based on type, the starch derivatives market is segmented into glucose syrup, modified starch, maltodextrin, hydrolysates, cyclodextrin.
- On the basis of raw material, the starch derivatives market is segmented into corn, cassava, potato, wheat, others raw materials.
- Based on form, the starch derivatives market is segmented into dry, liquid.
Regional Insights: Asia-Pacific is expected to dominate the Starch Derivatives Market
Asia-Pacific is expected to dominate the market and grow significantly because high economic growth in the Asia-pacific economies has influenced the lifestyle of consumer and consumption patterns. Moreover, in this region, the people have begun to consume more packaged food and beverages, which is also a major factor for the growth of the market in this region.
In addition, the North America region is likely to register highest growth rate during the forecast period of 2022 to 2029 because of high presence of a large number of local players in this region. Moreover, expansion of the food and beverage and pharmaceutical sectors in countries such as the U.S., Mexico and Canada will further drive the market growth in this region.
Recent Development: Starch Derivatives Market
- In 2020, The first-ever instant functional rice starch was introduced by Beneo which is a German food production company, to help producers create clean label food preparations such cold processed sauces, dressings, dairy desserts, and pastry fillings. Additionally, the starch maintains stability during a retail product's whole shelf life.
- In 2020, with the introduction of Claria Everlast, Tate & Lyle, a UK-based manufacturer of food and beverage ingredients and solutions, announced the addition of CLARIA Clean Label Starches to its line. A novel clean-label starch called Claria Everlast delivers improved shelf stability and aids in maintaining food quality, especially at high storage temperatures.
- In 2021, for an undisclosed amount, consumer goods business Berner Ltd. from Finland purchased the majority of Chemigate Ltd. With this acquisition, Berner Group's service to the forest industry will greatly outpace its current offerings of basic chemicals, magnesium products, and analytical and quality control solutions. Manufacturer of modified starch-based derivatives, binders, adhesives, and specialty chemicals, Chemigate Ltd. is situated in Finland.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-starch-derivatives-market
The Prominent Key Players Operating in the Starch Derivatives Market Include:
- Cargill Incorporated (U.S.)
- ADM (U.S.)
- Nsmfoodslimited (Australia)
- DSM (Netherlands)
- Kerry Group plc (Ireland)
- Ingredion Incorporated (U.S.)
- Tate & Lyle (U.S.)
- Matna Foods LTD (Nigeria)
- AGRANA Beteiligungs-AG (Austria)
- Grain Processing Corporation (U.S.)
- Roquette Frères (France)
- Gulshan Polyols Ltd. (India)
- Foodchem International Corporation (China)
- Tereos (France)
- Molinos Juan Semino SA (Argentina)
- JP & SB International (Spain)
- ShreeGluco Biotech Private Ltd. (India)
Above are the key players covered in the report, to know about more and exhaustive list Starch Derivatives Market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Starch Derivatives Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
