According to MarketsandMarkets, the global starch derivatives market size is estimated to be valued at USD 50.9 billion in 2020 and is projected to reach USD 61.5 billion by 2025, recording a CAGR of 3.9% in terms of value. The growth of starch derivatives market can be attributed to the increase in demand for processed and convenience food. Along with that, there is an increase in consumers shifting towards plant-based diets, which are also expected to fuel the starch derivatives market in the forecasted period. Asia Pacific region dominated the global starch derivatives market.
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Starch derivatives are prepared by treating native starch physically, enzymatically, or chemically to modify its properties and to withstand the process they are subjected to for use in various applications. Starch derivatives have numerous applications in the food & beverage industry. They are used in a wide range of products such as bakery & confectionery, processed foods, beverage and other applications such as cereal & snacks. They are used across various other industries including papermaking, textiles, pharmaceuticals and feed industry.
Asia Pacific region dominated the global starch derivatives market. It is largely driven by rising demand for starch derivatives in large economies such as China, India, Japan, and other Southeast Asian countries. The industrial applications and technologies involved in starch processing are changing rapidly in Asia Pacific region. It is also witnessing high investments in the starch derivatives market, from key players in the market. These all factor are contributing to the growth of starch derivatives market in the region.
Among various types of starch derivatives, glucose syrup accounts for the major market share in the overall starch derivatives market. Glucose syrup finds its application in various food and non-food applications. It is primarily used in the food & beverage industry as sweetener, thickener, and moisture-retaining agent. It helps in providing texture, volume, improved stability, and longer shelf life to the product.
Based on application, the food & beverages segment is projected to be the fastest-growing during the forecast period. This growth is mainly associated with the growing the demand for processed and convenience food. Functional properties of starch derivatives and their ease of incorporation in a wide range of food applications; hence, the demand is more in the food & beverages sector.
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Among various raw materials, the cassava segment is projected to be the fastest-growing from 2020 to 2025. It has several characteristics, which include high paste viscosity, high clarity, excellent thickening characteristics, natural taste, desirable textural characteristics, and high freeze-thaw stability, which are advantageous to many food preparations; it is also a relatively cheap source of raw material, which contains a high concentration of starch (dry-matter basis) that has more properties as compared to other starch derivatives such as that of corn, wheat, sweet potato, and rice.
The liquid form of glucose which is one of the starch derivatives is quite popular among the manufacturers. Due to its high stability and functional properties it is preferable among manufacturers of various industries.
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