Bangladesh Starch And Starch Derivative Market size is $902 Million in 2019, growing at a CAGR of 3.2% during the forecast period 2020-2025. Starch is a biopolymer that exists naturally in almost all plants that are grown as a source of energy for them. Maize (corn), wheat, potatoes and tapioca, among many others, are some of the main sources of starch for industrial production. Starch derivatives are prepared by treating native starch enzymatically, physically or chemically. It is used as a thickener and stabilizer in the food and beverage industry, as a tablet binder in the pharmaceutical industry, as an emulsifier in cosmetics, and as a fibre additive in animal feed for various functions in a variety of industries. Starch derivatives are used to contribute to consumer growth in the processing, paper, glue, and biofuels industries. Noodles, puddings, custards, pie fillings, pasta, salad dressings, soups, sauces, and gravies are also extensively eaten with starch derivatives.
Bangladesh Starch And Starch Derivative Market Segment Analysis – By Application
In 2019, Food & Beverage segment dominated the Bangladesh Starch And Starch Derivative Market in terms of revenue and is estimated to grow at a CAGR of 3.7% owing towards the growing demand for convenience foods, where starch derivatives are considered to be food additives. In Bangladesh, the food processing sector includes cereals, bakery and confectionery products, oilseeds, dairy products, carbonated drinks and other food products. Owing to the increasingly busy lifestyles and the growing working population in Bangladesh, there is a substantial increase in demand for all types of ready-to-eat or convenience food and beverage items. In food applications, starch derivatives are used as fat replacers, texture improvers, nutritional goods, high shear strength, and temperature stability for their functional applications. A primary factor that fuels the food industry and thus indirectly fuels the starch derivatives market is the increasing population and the rise in people’s disposable income. The growing popularity of non-carbonated and energy drinks, as these drinks use natural sweeteners, of which these derivatives are essential components abetting towards the growth of the market.
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Bangladesh Starch And Starch Derivative Market Drivers
Increasing Disposable Income And Growing Starch Derivatives Functional Properties And Their Ease Of Incorporation In A Wide Variety Of Applications
The growth of the industry is fuelled by an increasing population and a rise in the disposable income held by individuals. Starch derivatives have improved functional properties that are ideal for a wide variety of applications for food and non-food products. It has a number of functions; it is used as an emulsifier, texture agent, fat replacer, and thickener. Starch derivatives give the essential mouthfeel to the food products they are used in as of their characteristics of absorbing water and bulking up is driving the growth of the market.
Bangladesh Starch And Starch Derivative Market Challenges
Rising Cost Of Raw Materials
The market growth of industrial starch is hindered by raw material prices and availability, along with the limited use of chemically modified starch. Raw materials such as maize, wheat and others are widely used in the manufacture of starch derivatives and in the manufacture of bio-ethanol products. The price of raw materials depends on the field of production and the harvest from which the raw materials are produced. Increased use of starch derivatives in industries such as food & beverages and pharmaceuticals is set to lead higher starch demand, leading to higher prices of raw materials. Manufacturers of industrial starch face several challenges in their production, including the restriction of growth by waste water produced through the processing of starch from cassava.
Bangladesh Starch And Starch Derivative Industry Outlook
Product Launches, Merger & Acquisition, joint ventures and R&D activities are key strategies adopted by the players in the Bangladesh Starch And Starch Derivative Industry. Bangladesh Starch And Starch Derivative top 10 companies include Cargill Inc., Gulshan Polyols Limited, KMC, JTA Group, FLAMINGO AGRO-TECH LTD, Biswas Agro, Maize Advanced Agro Refinery, Agrana Group, Paperex BD and Bangladesh Maize Products Limited.
Acquisitions/Product Launches
In October 2017, Cargill Inc. launched SimPure Functional Label-Friendly Starch portfolio. It offers increased flexibility and expanded capability for functional products.
This product launch helped company by driving its growth across multiple categories and in reaching more consumers.
Key Takeaways
The integration of starch derivatives through various industries is growing with the advancement of new technology in the food and beverage industry, accelerating the Starch And Starch Derivative demand over the forecast period 2020-2025.
Growth is driven by increasing consumer concerns regarding health and nutrition, along with a shifting desire for a healthy appetite.
Asia-Pacific region is projected to record the fastest growth rate during the forecast period 2020-2025.
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