New York, March 14, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Potato Starch Global Market Report 2023" - https://www.reportlinker.com/p06311704/?utm_source=GNW
, Manitoba Starch, Tate & Lyle, and Aloja Starkelsen SIA.
The global potato starch market grew from $5.99 billion in 2022 to $6.31 billion in 2023 at a compound annual growth rate (CAGR) of 5.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The potato starch market is expected to grow to $7.75 billion in 2027 at a CAGR of 5.3%.
The potato starch market consists of sales of soups and gravies, pie fillings substances, sauces, stews and casseroles.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The potato starch refer to a natural starch obtained by crushing potatoes, which releases free starch in the form of a milky liquid.Starch grains are found in the cells of the potato plant’s root tubers.
The potatoes are crushed to extract the starch, and the starch grains are liberated from the destroyed cells.The starch then is washed and dried to powder.
Potato starch has huge oval spherical granules that range in size from 5 to 100 ?m.Potato starch is a highly refined starch with little protein or fat.
This gives the powder a clear white color, and the cooked starch has the normal properties of a neutral flavor, good clarity, high binding strength, lengthy texture, and a low tendency to foam or yellow the solution. These common features are used in a variety of food and technical applications such as in the paper and chemical industry.
Western Europe was the largest region in the potato starch market in 2022. The regions covered in the potato starch market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main types of potato starch are native starch, modified starch, and sweeteners.Native starches are plant-based substances derived from a variety of agricultural basic materials.
Native starch is a white to off-white powder with a mild odor and flavor.It has a 4kcal/g energy value (similar to all other carbohydrates).
Potato starch is organic and conventional and is distributed over various channels such as indirect, direct, and other distribution channels. It can be used across various industries such as f??d industry, ????r industry, ?h?m???l industry, t??t?l? industry.
Rising demand for ready-to-eat food products is expected to propel the growth of the potato starch market.Ready-to-eat foods are shelf-stable and don’t need to be refrigerated to stay bacteria-free which makes them easy to store and use whenever needed.
The increased consumer willingness to spend on ready-to-eat food, along with a lack of time to prepare at home as a result of rapid urbanization, is the primary factor boosting demand for ready-to-eat meals.Potato starch is generally employed in canned soups and blends where its thickening power, particularly for fill viscosity, is utilized.
It is also used as a foundation for gelling agents in confections, thickeners in items such as pastry and pie fillings, and instant puddings. For instance, according to Bizom, a retail intelligence platform, in 2021, ready-to-eat goods sales increased 9.1% in August over July which counts sales in 7.5 million retail outlets across the country. Ready-to-cook sales increased by 6.7 % in 2021. Therefore, growing consumption of ready-to-eat food is likely to drive the growth of the potato starch market during the forecast period.
The introduction of innovative products is a key trend gaining popularity in the potato starch market.Companies in the potato starch market are rapidly investing in developing new products to provide enhanced solutions to their consumers with better qualities.
For instance, in 2021, Ingredion Inc., a US-based ingredient provider, introduced a new product ULTRA-TEX 1311 modified potato starch for daily desserts. The launch of ULTRA-TEX 1311 modified potato starch exemplifies the ingredient’s commitment to expand potato capabilities and help to eliminate cooking and shorten processing times, providing food manufacturers to save energy.
In August 2021, Angel Yeast Co., Ltd., a China-based yeast biotech product business company, acquired Shandong Bio Sunkeen Co, Ltd for $15.4 million. With this acquisition, Angel Yeast will use Bio Sunkeen’s existing facilities, with future growth plans. Shandong Bio Sunkeen Co, Ltd is a China-based producer of potato starch.
The countries covered in the potato starch market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The potato starch market research report is one of a series of new reports that provides potato starch market statistics, including potato starch industry global market size, regional shares, competitors with a potato starch market share, detailed potato starch market segments, market trends and opportunities, and any further data you may need to thrive in the potato starch industry. This potato starch market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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