Dublin, Sept. 17, 2024 (GLOBE NEWSWIRE) -- The "Global Modified Starch Market Size, Share, Forecast, & Trends Analysis by Product Type, Raw Material, Production Method, Function, Form, End-use Industry, and Geography - Forecast to 2031" report has been added to ResearchAndMarkets.com's offering.
Global modified starch market is projected to reach $17.98 billion by 2031, at a CAGR of 4.1% from 2024 to 2031. In terms of volume, the modified starch market is projected to reach 28,655,308 tons by 2031, at a CAGR of 2.9% during the forecast period of 2024-2031. The report provides an in-depth analysis of the modified starch market across five major geographies, current market trends & size, recent developments, and forecasts till 2031.
The growth of the modified starch market is driven by the growing demand for convenience & processed foods, the functional properties & widening food applications of modified starch, increasing investments in the starch market, the growing demand for bio-based products, technological advancements in starch modification equipment, and the rapid growth of the bakery industry. However, the limited sources & high costs of natural additives and the high preference for gum arabic restrain the growth of this market.
Asia-Pacific is slated to register the highest CAGR of 5.0% during the forecast period of 2024-2031. The growth of this regional market can be attributed to the abundant availability of raw materials, the increasing investments in the food & beverage sector, and the rising demand for modified starch in major economies like China, India, Japan, and other Southeast Asian countries.
Furthermore, the increasing demand for starch-based bioplastics and emerging economies in Latin America, Asia-Pacific, and the Middle East & Africa are expected to offer market growth opportunities. However, stringent regulatory processes for the approval of modified starch products and increasing raw material costs are major challenges impacting the growth of the modified starch market.
Based on product type, the functional clean-label starch segment is projected to register the highest CAGR of 6.0% during the forecast period of 2024-2031. This growth can be attributed to the growing vegan population, increasing demand for natural, derived, or sustainable-sourced ingredients, rising applications in the food and beverage industry, increasing demand for functional food, growing use in cosmetics, and rising awareness regarding fitness among consumers.
In 2024, the corn segment is expected to account for the largest share of 47.8% of the modified starch market. The large market share of this segment can be attributed to the increasing use of corn as a primary ingredient for producing modified starch, driven by its various benefits, such as versatility, cost-effectiveness, widespread availability, and extensive application within the food & beverage industry.
The enzymatic modification segment is projected to register the highest CAGR of 4.4% during the forecast period of 2024-2031. Enzymatic modification enhances the resistant starch content of starch, thereby expanding its application in sectors like food & beverage, animal nutrition, and pharmaceuticals. Moreover, enzymatic modification offers an efficient and cost-effective means of converting starch solid wastes, further contributing to its increased adoption.
In 2024, the thickener segment is expected to account for the largest share of 45.2% of the modified starch market. The large share of this segment can be attributed to the benefits offered by modified starch in the F&B sector, such as desired texture, consistency, moisture, transparency, and cost-effectiveness. The use of modified starch as a thickener provides formulators with greater flexibility, reliability, and efficiency in developing a wide range of food products with consistent quality and performance.
In 2024, the dry/powder segment is expected to account for the larger share of 64.5% of the modified starch market. The large market share of this segment can be attributed to the advantages offered by dried modified starches over their liquid counterparts, such as better homogeneity, ease of use & transportation, better stability, and availability in a wide range of grades to suit different applications. Moreover, the dry/powder segment is projected to register the highest CAGR of 4.2% during the forecast period of 2024-2031.
The food & beverage segment is projected to register the highest CAGR of 4.5% during the forecast period of 2024-2031. This growth is primarily attributed to the increasing awareness of the advantages offered by modified starch, including extending the shelf life of food products, enhancing their sensory attributes, and delivering cost-effective solutions for food manufacturers.
Key Questions Answered in the Report:
- What is the current revenue generated from the modified starch market?
- At what rate is the global demand for modified starch projected to grow for the next 5-7 years?
- What is the historical market size and growth rate for the modified starch market?
- What are the major factors impacting the growth of this market at global and regional levels?
- What are the major opportunities for existing players and new entrants in the market?
- Which product type, raw material, production method, function, form, and end-use industry segments are expected to create major traction for the manufacturers in this market?
- What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the modified starch market?
- Who are the major players in the modified starch market? What are their specific offerings in this market?
- What recent developments have taken place in the modified starch market? What are the impacts of these strategic developments on the market?
Market Insights
- Growing Demand for Convenience & Processed Foods Driving the Utilization of Modified Starch
- Functional Properties & Widening Food Applications of Modified Starch Driving Market Growth
- Increasing Investments Supporting the Growth of the Modified Starch Market
- Growing Demand for Bio-Based Products Driving the Utilization of Modified Starch
- Technological Advancements in Starch Modification Equipment Accelerating Market Expansion
- Rapid Growth of the Bakery Industry Boosting the Demand for Modified Starch
- Limited Sources & High Costs of Natural Additives Limiting the Production of Modified Starch
- High Preference for Gum Arabic Restraining Market Growth
- Increasing Demand for Starch-Based Bioplastics Expected to Generate Growth Opportunities for Market Players
- Emerging Economies in Latin America, Asia-Pacific, And the Middle East & Africa Expected to Hold High Potential for Market Expansion
- Stringent Regulatory Processes for the Approval of Modified Starch Products Expected to Remain a Major Challenge for Market Players
- Increasing Raw Material Costs Hampering Market Growth
Company Profiles
- Cargill Incorporated (U.S.)
- Ingredion Incorporated (U.S.)
- Archer-Daniels-Midland Company (U.S.)
- Roquette Freres (France)
- Tate & Lyle Plc (U.K.)
- AGRANA Beteiligungs-AG (Austria)
- Royal Avebe (Netherlands)
- Emsland-Starke 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 Co. Ltd. (Thailand)
- Royal Ingredients Group B.V. (The Netherlands)
- SPAC Starch Products Ltd. (India) Private Limited (India)
Competition Analysis
- Overview
- Key Growth Strategies
- Competitive Benchmarking
- Competitive Dashboard
- Industry Leaders
- Market Differentiators
- Vanguards
- Emerging Companies
- Market Share Analysis
Scope of the Report:
Modified Starch Market Assessment - by Product Type
- Acetylated Distarch Adipate
- Maltodextrin
- Hydroxypropyl Distarch Phosphate
- Pre-Gelatinized Starch
- Distarch Phosphate
- Cationic Starch
- Functional Clean-Label Starch
- Acetylated Starch
- Monostarch Phosphate
- Hydroxypropyl Starch
- Dextrin (Dextrinized Starch)
- Acetylated Distarch Phosphate
- Octenyl Succinic Anhydride (OSA) Starch
- Phosphated Distarch Phosphate
- Other Modified Starches
Modified Starch Market Assessment - by Raw Material
- Corn
- Cassava
- Potato
- Wheat
- Other Raw Materials
Modified Starch Market Assessment - by Production Method
- Chemical Modification
- Physical Modification
- Enzymatic Modification
Modified Starch Market Assessment - by Function
- Thickener
- Binder
- Stabilizer
- Emulsifier
- Other Functions
Modified Starch Market Assessment - by Form
- Dry/Powder
- Liquid
Modified Starch Market Assessment - by End-use Industry
- Food & Beverage
- Processed Foods
- Beverages
- Papermaking
- Pharmaceuticals
- Animal Nutrition
- Poultry
- Ruminants
- Swine
- Other Animals
- Textiles
- Cosmetics & Personal Care
- Other End-use Industries
Modified Starch Market Assessment - by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- 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 and Africa
For more information about this report visit https://www.researchandmarkets.com/r/j376gi
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