Modified Starch Market by Raw Material (Corn, Wheat, Cassava, Potato, and Others), Application (Food and Beverages, Animal Feed, Pharmaceuticals and Nutraceuticals, and Others): Global Market Size Estimates and Forecast (2022–2030)
The market crossed US$ 14.00 billion mark in 2022 and is expected to hit US$ 17.50 billion by 2030, recording a CAGR of 3.0% during the forecast period.
Modified starch has been significantly growing with the high adoption in food and beverages segment.
Rising demand for convenience food, rapidly developing pharmaceutical and nutraceutical industry in emerging regions such as Asia-Pacific, increased awareness regarding functional properties of modified starch and its ease of application in application industries are some of the major factors attributing the growth of the market. The corn segment is expected to pace owing to its extensive use in various application as thickening agent, stabilizer, and emulsifiers. Further, other segment such as wheat, cassava, and potato also expected to gain traction during the forecasted year.
Within the report, the market is segmented into raw material, application, and geography. By raw material, the market is further segmented into corn, potato, cassava, wheat, and others. Based on application, the market is divided into food and beverages, animal feed, pharmaceuticals and nutraceuticals, and others. Geographically, the market is sub segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
Growing awareness about the benefits of modified has empowered the growth.
Modified starch are plant-based ingredients used in food and other applications derived cereals and tubers. Rising demand for protein alternatives in developed economies has surged the demand for modified starch in various application. Increasing research and development activities are driving the demand for innovative products, thereby significantly contributing to the modified starch market growth. Further, the favorable rules and regulation imposed by food regulating organization for use of starch has surged the market demand in foods and beverages industry.
Rising adoption in various industries is one of the major factors accelerating the market growth.
The industries for modified starch are food and beverages, animal feed, pharmaceuticals and nutraceuticals, and others. Amongst these industries, the use of modified starch in food and beverages industry owing to its extensive use in in convenience and processed food application. The pharmaceutical and nutraceutical industry is also encouraging the use of modified starch in production of medicines to maintain the quality of the product. Other industries such as animal feed, personal care, cosmetics, and paper and pulp are also encouraging the use of modified starch.
Recent strategic developments in modified starch market
The modified starch market has undergone several significant developments, and a few of these have been mentioned below:
- In April 2021, Ingredion acquired KaTech (Germany) with an aim to expand its food system platform with a innovative solutions which will assist food and beverage manufacturers with product formulation, ingredient functionality and technical assistance
The modified starch market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Cargill, Incorporated, ADM, Emsland-Starke GmbH, Ingredion, and Royal Ingredients Group are among the prominent players operating in the market.
Target audience for the report:
- Raw material providers
- Importers and exporters of modified starch
- Modified starch related associations, organizations, forums, and alliances
- Government bodies, such as regulating authorities and policy makers
- Venture capitalists, private equity firms, and start-up companies
- Semiconductor component suppliers
- Modified starch distributors and sales firms
- End users of modified starch
- Research institutes, organizations, and consulting companies
Scope of the report:
In this report, the market has been segmented on the basis of:
- Raw Material:
- Corn
- Potato
- Wheat
- Cassava
- Others
- Application
- Food and Beverages
- Animal Feed
- Pharmaceuticals and Nutraceuticals
- Others
- Region
- North America
- Europe
- Asia Pacific (APAC)
- South & Central America
- Middle East & Africa
- Companies profiled
- Cargill, Incorporated
- ADM
- Emsland-Starke GmbH
- Ingredion
- Royal Ingredients Group
- Cargill, Incorporated
- ADM
- Emsland-Starke GmbH
- Ingredion
- Royal Ingredients Group