Market Overview
Global Industrial Starch Market is growing rapidly, witnessing a surging demand. A vast amount of these starches is consumed in various industrial applications in the food & beverages, corrugation & paper making, animal feed, and pharmaceuticals, among other sectors. Augmented demand from the burgeoning food & beverage industry defines the growth landscape of the industrial starch market globally.
Market Research Future (MRFR), in its recently published study report, asserts that the global industrial starch market is expected to garner a valuation of USD 112 BN by 2024. MRFR says that during the forecast period (2019–2024), the market would register a CAGR of approximately 5.9%. Dominant application areas of industrial starches are bakery & confectionery and dairy & frozen desserts.
Additionally, the rising demand for processed foods and growing applications of these starches in animal feed and pharmaceutical industry substantiate the market growth. The burgeoning pharmaceutical industry too supports market growth substantially. Furthermore, the rising uses of starch in the production of biodegradable plastic and surging demand in various non-food applications provide impetus to the growth of the global industrial starch market. On the other hand, factors such as the volatility in the prices and demand-supply gap in the raw materials required for the production of industrial starches hamper the market growth to an extent. Also, the restricted use of chemically modified starch obstructs the growth of the market colossally.
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Key Players
Players leading the Industrial Starches Market include Archer Daniels Midland Company (US), Cargill (US), Ingredion Incorporated (US), Universal Starch Chem Allied Ltd. (India), Tate & Lyle PLC (UK), Agrana Beteiligungs-AG (Austria), Roquette Frères (France), Grain Processing Corporation (US), Tereos Group (France), Royal Cosun (Netherlands), Chr. Hansen A/S (Denmark), and Altia Industrial Services (Finland), among others.
Industry/ Innovation /Related News
September 30, 2019 —- Atria Investments LLC (the US), a leading wealth management company, announced the purchasing on a new stake in shares of Ingredion Incorporated (the US), a leading producer of starches and sweeteners for various industries. This phase of growth is consistent with other actions that Ingredion has taken to strengthen its specialties business to deliver long-term value to its shareholders.
Ingredion is a leading global provider of ingredient solutions to diversified industries. The company had recently expanded its potato starch manufacturing capacity, enhanced processing capabilities, and broaden its higher-value specialty ingredients business and customer base by acquiring operations of Western Polymer (the US) in March 2019. Western Polymer is a leading producer of native and modified potato starches for food and industrial applications and a provider of modified tapioca starch for industrial usages.
Market Segmentation
The market is segmented into five dynamics to widen the scope of understanding,
By Type: Native Starches and Starch Derivatives & Sweeteners (Modified Starch, Sweeteners, others).
By Source: Corn, Potato, Cassava, Wheat, and others.
By Form: Solid and Liquid.
By Application: Food & Beverages (Bakery & Confectionery, Dairy & Frozen Desserts, Beverages, Convenience Foods, others), Corrugation & Paper Making, Animal Feed, Pharmaceuticals, and others.
By Regions: Europe, North America, Asia Pacific, and the Rest-of-the-World.
Regional Analysis
The Asia Pacific region is forecasted to remain dominant in the global industrial starch market throughout the review period. The market growth attributes to the high demand for starches in various industries such as food & beverages, paper making, animal feed, and others. Besides, the surging demand in the Indian and Chinese industrial starch market is contributing significantly to the growth of the regional market. The massive production units in the region foster the growth of the APAC industrial starch market.
The North America industrial starch market accounts for the second-largest market, following the APAC market closely. The presence of prominent consumer markets in the US and Canada is driving the growth of the industrial starch market in the region. In 2018, the region held a significant revenue share of the global industrial starch market, attributing to the presence of a large number of market players and the adoption of advanced manufacturing techniques in the region.
The European region is projected to emerge as one of the promising markets for industrial starches over the review period. The market is experiencing immense growth over the past few years due to the rising consumption of these starches in major consumer countries. Besides, changing consumer preferences is anticipated to stimulate the growth of the overall industrial starch market in Europe during the forecast period.
Competitive Landscape
The market appears to be fragmented due to the presence of many major players. They adopt strategic initiatives such as product launch, M&A activities, and collaboration to churn the competition in the market. Manufacturers operating in the highly competitive industrial starch market deliver high-quality and reliable products based on innovative technologies. They strive to build the ability to tailor packaging with the requested specifications, such as customized/bulk packaging and special requirements.
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