Report : North America Industrial Starch Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Flavor (Vanilla, Chocolate, Fruit, and Others), Category (Conventional and Sugar Free), Form (Cups and Tubs, Bars and Sticks, and Others), and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others)
At 7.4% CAGR, the North America Industrial Starch Market is speculated to be worth US$ 20,752.10 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the North America industrial starch market was valued at US$ 13,537.63 million in 2022 and is expected to reach US$ 20,752.10 million by 2028, registering an annual growth rate of 7.4% from 2022 to 2028. Growth in the food and beverage industry and increase in demand from packaging industry are the critical factors attributed to the market expansion.
The food & beverages industry has witnessed significant growth for clean label ingredients such as starch. Starch has been extensively used by food industries worldwide, with maize, potato, and cassava starch the most common sources. Starch is used in the food and beverage industry either as food products or as additives for thickening, preservation and quality enhancer in baked food products, confectioneries, canned jams, juices, soups, pasta, sauces, and mayonnaise. The growing population around the world is increasing the demand for food and beverages. These factors are driving the demand for ready-to-eat or convenience food and beverages. Starch is one of the primary ingredients used in bakery products, confectioneries, dairy products, fruit drinks, alcoholic beverages, savory snacks, and processed meat products, among others. In these formulations, it serves as a binder, thickener, stabilizer, and gelling agent. There is a strong demand for starch and its derivatives such as maltodextrins, isoglucose, and polyols in the food & beverages industry. Thus, the increasing demand for starch with flourishment of the food & beverages industry is driving the growth of the industrial starch market.
On the contrary, demand and supply gaps hurdles the growth of North America industrial starch market.
Based on type, the North America industrial starch market is segmented into native starch and starch derivatives and sweeteners. The starch derivatives and sweeteners segment held 68.0% market share in 2022, amassing US$ 9,201.93 million. It is projected to garner US$ 14,973.61 million by 2028 to expand at 8.5% CAGR during 2022–2028.
Based on source, the North America industrial starch market is segmented into potato, corn, wheat, cassava, and others. The wheat segment held 30.5% market share in 2022, amassing US$ 4,131.75 million. It is projected to garner US$ 6,448.50 million by 2028 to expand at 7.7% CAGR during 2022–2028.
Based on application, the North America industrial starch market is segmented into food and beverages, pulp and paper, animal feed, pharmaceuticals, and others. The food and beverages segment held 51.6% market share in 2022, amassing US$ 6,985.19 million. It is projected to garner US$ 10,643.65 million by 2028 to expand at 7.3% CAGR during 2022–2028.
Based on country, the North America industrial starch market is segmented into the US, Canada, and Mexico. Our regional analysis states that the US captured 64.4% market share in 2022. It was assessed at US$ 8,716.07 million in 2022 and is likely to hit US$ 13,849.30 million by 2028, exhibiting a CAGR of 8.0% during the forecast period.
Key players dominating the North America industrial starch market are ADM; AGRANA Beteiligungs AG; Cargill, Incorporated; Grain Processing Corporation; Ingredion Incorporated; Roquette Frères; Royal Cosun; Tate & Lyle PLC; Tereos Group among others.
- In 2022, Royal Avebe launched new multifunctional starch.
- In 2019, Ingredion introduced new clean label starch to reduce fat and build indulgent textures
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