Wilmington, Delaware, Nov. 02, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Modified Starch Market By Raw Material (Maize, Cassava, Potato, Wheat, Others), By Type (Cationic Starch, Etherified Starch, Esterified Starch, Resistant Starch, Pre-Gelatinized), By Function (Thickners, Stabilizers, Binders, Emulsifiers, Others), By Application (Food And Beverages, Animal Feed, Paper-Making, Weaving Textiles, Pharmaceuticals, Others): Global Opportunity Analysis And Industry Forecast, 2023-2032". The report states that the market is expected to value at $14.4 billion by 2032, having generated the value of $9.0 billion in 2022, with a noteworthy CAGR of 4.9% during the forecast period of 2023 to 2032.
The global modified starch market is witnessing substantial growth, driven by various industries across the world, such as pharmaceuticals, food, and textiles, acknowledging its adaptable uses. As the need for clean-label and functional ingredients continues to surge, modified starch stands out for its ability to enhance texture, stability, and viscosity, making it a favored option for product development and process improvement. In response to evolving consumer preferences, businesses are harnessing the versatile properties of modified starch to drive innovation and maintain competitiveness in an ever-shifting market environment.
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Drivers, restraints, opportunities
An increase in consumer demand for natural and clean food products has been experienced. Customers are becoming conscious regarding the ingredients used in their food and are preferring products with no or minimum artificial additives. Modified starches offer an opportunity for producers to encounter these clean label trends. They can be utilized as a natural option for artificial emulsifiers and additives, assuring the label claims of organic or natural products. The clean label trend has resulted in heightened use of modified starches in a wide range of food products, which contributed to the expansion of the global modified starch industry. However, the availability of alternatives for modern starch hampers market growth to some extent.
Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $9 billion |
| Market Size in 2032 | $14.4 billion |
| CAGR | 4.9 % |
| No. of Pages in Report | 570 |
| Segments covered | Raw Material, Type, Function, Application, and Region. |
| Drivers | Escalating demand from food and beverage sector Robust demand for clean label trends Growing industrial applications Functional properties of modified starch |
| Opportunities | Expansion in emerging markets Product innovation and differentiation |
| Restraints | Cost constraints Availability of alternatives |
The maize segment to grab the lion’s share by 2032
In terms of raw material, the maize segment held the highest share of nearly half of the global modified starch market revenue in 2022 and is estimated to display the fastest CAGR of 5.2% throughout the forecast timeframe. Maize is considered the best choice for starch modification and extraction because it contains a high amount of starch. Maize is easily available in large quantities, one of the ample cereal crops, and widely cultivated across the world, hence it is cost effective and reliable source of starch for industrial operations. These factors contributed to promoting the use of maize as a raw material for manufacturing maize-based modified starch by manufacturers.
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The pre-gelatinized segment to maintain its top position during the forecast period
By type, the pre-gelatinized segment accounted for the largest share of more than one-fourth of the global modified starch share in 2022. A primary benefit of pre-gelatinized starch is its rapid solubility in both cold and hot water. Thanks to the partial gelatinization process, starch granules become hydrated and partly disrupted, enabling them to disperse and dissolve readily in water without the necessity of cooking or applying heat. This feature has led to an increased adoption of pre-gelatinized starch across diverse applications, thereby driving the growth of this market segment. On the other hand, the resistant starch is anticipated to witness a fastest growth with 5.3% CAGR during the forecast period.
The thickeners segment to retain its dominance
On the basis of function, the thickeners segment contributed to the highest share of nearly one-third of the global modified starch market in 2022. However, the stabilizers segment is anticipated to manifest the highest growth with 5.2% CAGR from 2023 to 2032. The growth is attributed to the surge in demand for natural and clean label ingredients. Consumers prefer products with more recognizable and simpler ingredient lists, and modified starches offer a familiar and natural option for stabilizing formulations.
The food and beverages segment to lead the trail by 2032
On the basis of application, the food and beverages segment grabbed the highest share of nearly three-fifths of the global modified starch market in 2022. Modified starches can be utilized as a clean-label ingredient, offering functionality while reducing or replacing the requirement for specific chemical stabilizers or additives. This corresponds with the rising consumer demand for clean, natural, and minimally processed foods. Collectively, these factors are contributing to an increased demand for modified starch within the expanding food and beverages sector, thereby propelling the growth of this market segment. However, the pharmaceuticals segment would cite the highest growth with 5.3% CAGR from 2023 to 2032.
Asia-Pacific generated the highest share in 2022
The regional analysis in the report indicates that the market across the Asia-Pacific was largest in 2022, contributing to more than three-eighth of the total market revenue and is estimated to witness a notable CAGR of 5.3% from 2023 to 2032. The market is experiencing growth due to population expansion, surge in urbanization, and rapid economic growth. The large population across the region and growth in disposable income propel the demand for processed food products, resulting in heightened usage of modified starches as functional ingredients.
Top market players:
- Tereos
- Tate and Lyle PLC
- Royal Ingredients Group
- Roquette Freres
- Ingredion Incorporated
- EMSLAND GROUP GmbH and Co. KG
- Cargill, Incorporated
- AVEBE U.A.
- AGRANA Beteiligungs-AG
- ADM
The report offers an in-depth analysis of these key players in the global modified starch market. These companies have employed various strategies, including collaborations, introduction of new products, expansions, agreements, joint ventures and more, to enhance their market presence and sustain leading positions in various regions.
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