New Jersey, NJ, Sept. 10, 2019 (GLOBE NEWSWIRE) -- Rising use of processed and convenience food and increasing demand for adhesives for various industrial applications are the key drivers of the market. The global modified starch market is expected to grow from USD 10.13 Billion in 2017 to USD 15.53 Billion by 2025 at a CAGR of 5.5% during the forecast period 2018-2025, according to the new report published by Fior Markets.
Starch is the main carbohydrate easily obtained from various natural sources, like potato, maize, corn, wheat, etc. which is widely applicable in various food and non-food industries. Modified starch is made by morphological or physicochemical changes in the structure of native starch via its treatment with heat, acids, alkalis, or enzymes. Modifications in starch are commonly made by the use of various physical methods like osmotic-pressure treatment, deep-freezing, etc. and chemical methods including derivatizations. Other methods of transforming the properties of starch are enzymatic degradation techniques and genetic modifications which involve the transgenic techniques targeting the various enzymes involved in starch biogenesis. These have improved water-holding capacity, heat resistance, binding characteristics, and thickening properties.
High consumption of starch by pharmaceutical industry cosmetics and paper industries is a major factor driving the market. In addition, growing demand for adhesives for various industrial applications and increasing use of processed and convenience food are two factors fuelling the growth of the market. However,the high cost associated with natural additives may obstruct the growth of the market. Nevertheless, the emergence of alternative sources of modified starch may boost the market in forthcoming years.
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Key players in the modified starch market are Universal Starch Chem Allied, Ulrick and Short Ltd., Avebe U.A., Ingredion Inc., Penford Corp., Tate and Lyle Plc., Global Bio-Chem Technology Group Co. Ltd., Archer-Daniels-Midland Co., KMC, China Essence Group Ltd., and Cargill Inc., among others. Key players active in the market are involved in collaborative agreements and expansion to bolster the growth of the market.
- For instance in 2019, Ingredion Inc., announced that it is leading the Series B funding round in Clara Foods, a San Francisco-based biotech start-up. Under the terms of the agreement, Ingredion will partner with Clara Foods to globally distribute and market multiple proteins derived from yeast that are traditionally found in eggs. These products will augment Ingredion's portfolio to include highly functional proteins that will produce food and beverages with higher levels of protein and unique characteristics without the inclusion of animal-derived inputs.
- For instance in 2019, Tate and Lyle Plc., announces the extension of the partnership with DKSH. DKSH has extended to Vietnam its exclusive partnership with Tate & Lyle, a leading global supplier of food and beverage ingredients and solutions. DKSH will provide market expansion services for Tate & Lyle in Vietnam, including marketing, technical sales, distribution and logistics for Tate & Lyle’s product portfolio. The extended exclusive partnership agreement covers all products from Tate & Lyle’s portfolio: fibres, low and no calorie sweeteners, stabilisers and texturants used in a wide range of applications, including beverage, dairy, soups, sauces and dressings, meat processing and nutraceuticals. DKSH is already partnered with Tate & Lyle in Myanmar and India. Tate & Lyle has again chosen DKSH due to DKSH’s extensive distribution network, innovation center, large customer base and strong technical sales force with deep knowledge of the Vietnam market.
Corn segment is dominating the market with the highest share of 39.70% in 2017
Raw material segment is divided into segments such as corn, cassava, potato, wheat, and others. Corn segment dominated the market with a market share of 39.70% in 2017. Corn contains a high content of starch as compared to other sources and is easily available which leads to an acceleration in the market growth. It is used as a thickener in sauces, processed food and beverages is driving the food sector market.
The thickeners segment valued around USD 3.63 Billion in 2017
The function segment includes thickeners, stabilizers, binders, emulsifiers and others. The thickeners segment valued around USD 3.63 Billion and dominated the market in 2017. As a thickening agent, modified starch strengthens the viscosity of a liquid without significantly changing its other properties.
The physical modification segment held the market share of 45.60% in 2017
The modification type segment includes physical modification, chemical modification and resistant starch. The physical modification segment dominated the modified starch market in 2017 with a market share of 45.60%. Modification of starches is generally carried out by using physical methods because they are simple and inexpensive due to the absence of chemical agents.
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Food & beverages segment held the market share of 47.90% in 2017
The application segment is classified into food & beverages, animal feed and industrial. The food & beverages segment is dominating in 2017 with a market share of 47.90%. The food and beverage segment is expanding in terms of shares owing to the gluten-free nature of food products made from modified starch and less calorie content.
Regional Segment Analysis of the Modified Starch Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
North America region dominated the global modified starch market with USD 4.28 Billion in 2017. The North America region is dominating due to the rising demand for modified starch in processed foods in countries like US and Canada. There are many well-established food processing industries in the North American region which are driving the market for modified starch. The Asia Pacific is growing rapidly due to the growing awareness and production of processed foods. The growth in textile and food processing industries is also leading to the growth of the Asian Market of modified starch.
About the report:
The global modified starch market is analysed on the basis of value (USD Billion), volume (Million Tons), consumption (Million Tons), imports (Million Tons) and exports (Million Tons).All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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