The global modified starch market is estimated to be valued at USD 13.7 billion in 2022. It is projected to reach USD 15.9 billion by 2027, recording a CAGR of 3.1% during the forecast period. The global modified starch market has been influenced by some of the macroeconomic and microeconomic factors witnessed in some key countries. This would prove strong enough to drive the market significantly in terms of value sales during the forecast period. With the rise in demand and preference for natural food ingredients, the trend of clean-label and plant-based products has significantly boosted the utilization of modified starch derivatives in the food industry. Modified starch is used as a thickener and binder, and this enhances its properties, such as smoothness, hardness, gloss, and whiteness.
Modified Starch Market Key Drivers:
The modified starch market is being driven by various key factors, including the increasing demand for convenience foods, growth in the processed food industry, and the rising demand for clean label products.
Convenience foods, such as ready-to-eat meals and snacks, require modified starches to enhance their texture, stability, and shelf life. As the demand for these foods continues to grow, so does the demand for modified starches.
The processed food industry also heavily relies on modified starches to improve the functionality and sensory characteristics of their products. With the growing demand for processed foods worldwide, the market for modified starches is also expanding.
Another key driver of the modified starch market is the increasing demand for clean label products. Consumers are becoming more health-conscious and are seeking products with natural and simple ingredients. Modified starches are being developed to meet these demands by using natural and organic sources to modify the starch.
Moreover, the rising demand for convenience foods in emerging economies, along with the development of new and innovative products using modified starches, is also contributing to the growth of the market.
Modified Starch Market Trends:
The modified starch market has been experiencing steady growth in recent years due to its wide range of applications in various industries such as food and beverages, pharmaceuticals, and textiles.
One of the major drivers of the modified starch market is the increasing demand for convenience foods and processed foods. Modified starches are commonly used as thickeners, stabilizers, and emulsifiers in these products. Additionally, the growing demand for clean label products has also led to an increase in the use of modified starches as natural alternatives to synthetic additives.
The food and beverage industry is the largest end-user of modified starches. The Asia-Pacific region is the fastest-growing market for modified starches, driven by the rising demand for processed foods and increasing population. The demand for modified starches is also increasing in Europe and North America, where consumers are increasingly seeking clean label products.
Moreover, the pharmaceutical industry is another important end-user of modified starches. Modified starches are used as excipients in tablets and capsules due to their excellent binding and disintegration properties. The growing demand for generic drugs and the increasing prevalence of chronic diseases are expected to drive the demand for modified starches in the pharmaceutical industry.
Key Market Players:
The key players in this market include ADM (US), Cargill (US), Ingredion (US), Tate & Lyle (UK), Roquette Frères (France), Avebe U.A (Netherlands), Grain Processing Corporation (US), Emsland (Germany), AGRANA (Austria), SMS Corporation (Thailand), Global Bio-Chem Technology Group (Hong Kong), SPAC Starch (India), Qindao CBH Company (China), Tereos (France), and KMC (Denmark).
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