Redding, California, July 03, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled, ‘Modified Starch Market by Product Type (Starch Esters, Pre-gelatinized), Raw Material (Corn, Cassava), Production Method (Chemical), Function (Thickner, Stablizer), Form (Liquid), End User Industry (Food and Beverages, Personal Care) — Forecast to 2030,’ the modified starch market is expected to reach $17.3 billion by 2030, at a CAGR of 3.8% from 2023 to 2030.
The growth of the modified starch market is driven by 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, and technological advancements in the production of modified starches, and growing bakery industry. Additionally, potential alternative sources of modified starch and emerging economies offers significant growth opportunities for modified starch manufacturers. However, limited sources and high cost of natural additives and high demand for gum arabic restrain the modified starches market growth.
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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.
Key Findings in the Modified Starch Market Study:
Based on product type, the modified starch market is segmented into starch esters & ethers, pre-gelatinized starch, resistant starch, cationic starch, and other product types. 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 attributed to their unique properties that make them suitable for a wide range of applications and their natural origin. However, the cationic segment is expected to register the highest CAGR during the forecast period due to increasing demand from papermaking, textile, and oil & gas industry.
Based on raw material, the modified starch market is segmented into corn, cassava, potato, wheat, and others. 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 wider use in food and beverage industry. However, the cassava segment is expected to register the highest CAGR during the forecast period. The growth in this segment is attributed to their rising adoption due to cost-effectiveness, extensive use in wide range of applications, stability and high paste clarity.
Based on production method, the modified starch market is segmented into physical modification, enzymatic modification, and chemical modification. In 2023, the physical modification segment is expected to account for the largest share of the modified starch market. However, the chemical modification segment is expected to register the highest CAGR during the forecast period as it modifying 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 thickner segment is expected to account for the largest share of the modified starch market. However, the emulsifier segment is expected to register the highest CAGR during the forecast period due to its benefits such as improved quality and stability of various products, safety, and marketability of products.
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 available 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 products, 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. The large market share of this segment is attributed to factors such as versatility and functionality, high demand for clean label and natural products, high demand for low calorie content food. However, the cosmetics and personal care segment is expected to register the highest CAGR during the forecast period.
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Based on geography, in 2023, North America is expected to account for the largest share of the modified starch market. However, Asia-Pacific is projected to register the highest CAGR during the forecast period. The growth of this regional market is attributed to huge availability of raw material, booming manufacturing sectors, increasing investment in the food & beverage industry, and rising demand in large economies, such as China, India, Japan, and other Southeast Asian countries.
The key players operating in the global 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).
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Scope of the report
Modified Starch Market, by Product Type
- Starch Esters & Ethers
- Pre-gelatinized Starch
- Resistant Starch
- Cationic Starch
- Other Product Types
Modified Starch Market, by Raw Material
- Corn
- Cassava
- Potato
- Wheat
- Other Raw Materials
Modified Starch Market, by Production Method
- Physical Modification
- Enzymatic Modification
- Chemical Modification
Modified Starch Market, by Function
- Thickener
- Binder
- Stabilizer
- Emulsifier
- Other Functions
Modified Starch Market, by Form
- Dry/Powder
- Liquid
Modified Starch Market, by End User Industry
- Food and Beverages
- Processed Food
- Beverages
- Animal Nutrition
- Poultry
- Ruminants
- Swine
- Other Animals
- Textile
- Cosmetics and Personal Care
- Pharmaceutical
- Papermaking
- Others End User Industries
Modified Starch Market, by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East & Africa
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