The Global Starch Market is Projected to Reach 151.6 Million Metric Tons by 2024
Sustained Demand for Starch
from Food Processing and Industrial Applications to Drive Growth in the Global
Starch Market, According to a New Report by Global Industry Analysts,
Inc.
GIA
launches comprehensive analysis of industry segments, trends, growth drivers,
market share, size and demand forecasts on the global Starch market. The global Starch market is
projected to reach 151.6 million metric tons by 2024, driven by the
indispensable nature of the ingredient in food and beverage processing and
non-food sectors.
Starch
is one of the most widely available carbohydrates in the nature. Produced by
almost all the higher plants or vascular plants, starch is stored as energy
reserve in the tubers, roots, fruits, seeds, and rhizomes. Starch is widely
found in staple foods such as corn, potatoes, rice, wheat and cassava. The
end-use applications of starch have grown in number over the years, and now
include diverse applications ranging from food & beverages,
pharmaceuticals, paper & glues, ceramics, construction, weaving &
textiles, to cosmetics, colors and printing, among others.
Demand
for starch primarily depends on the diversity and sheer number of end-use
applications. Growing demand for starch as a thickening agent, stabilizer,
binder and emulsifier in various applications contributes to the market’s
growth. Rapid growth of the food processing industry and increasing demand for
starch in industrial products are driving growth in the starch market. Food
& beverage industry is the largest end-use sector with sweetener applications representing the largest
sub-segment worldwide, while processed foods rank as the leading application
area in the developing world. Increasing demand for convenience foods and
beverages, especially in developing nations with large population base and
rising disposable incomes of people, constitutes a major growth driver in the
starch market. Also favoring market growth is the increasing demand for natural
ingredients in food and feed, the increasing focus on general well-being and
health foods, and the rising awareness about the advantages of functional
foods.
Besides
being widely used in the food industry, starch is increasingly becoming an
integral component in several day-to-day products including medicines,
cosmetics, toothpaste, building material, polish, and paper among others.
Starch market is being driven by the growing demand for adhesives in various
industrial products and packaging industries. The rapid expansion of production
operations of textile, food and paper industries especially Asia-Pacific
countries will spur demand for starch. With demand for starch continuing to
grow, starch manufacturers are moving beyond traditional sources of starch such
as maize, potato and wheat towards other economical sources of starch such as
cassava and sweet potato.
As
stated by the new market research report on Starch, Asia-Pacific represents
the largest regional market, worldwide. Asia-Pacific is also forecast to
register the fastest CAGR of 6.7% over the analysis period, with demand
emerging from both non-food and food sectors. Strong economic growth,
increasing employment opportunities and rising per-capita disposable incomes,
particularly in China and India, are contributing to the robust growth in
demand for food and non-food ingredients including starch. Food industry is a
major growth driver for starches market in Asia-Pacific, due to the rapidly
rising demand for processed and convenience foods in the region. Further, the
region’s rapidly expanding industrial base and increasing industrial
applications also translate into significant growth potential for the starch
market.
Major
players in the market include AGRANA Beteiligungs-AG, Archer Daniels Midland
Company, AVEBE, BENEO GmbH, Cargill Inc., Chemstar Products Company, Global
Bio-Chem Technology Group Company Limited, Grain Processing Corporation,
Ingredion Incorporated, PT. Budi Starch & Sweetener Tbk, Roquette Frères,
Tereos Starch & Sweeteners s.a.s., Tate & Lyle PLC, The Emsland Group,
and Zhucheng Xingmao Corn Developing Co. Ltd., among others.
The
research report titled “Starch: A Global Strategic
Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends,
issues, drivers, mergers, acquisitions and other strategic industry activities
of global companies. The report provides market estimates and projections for
all major geographic markets such as the US, Canada, Japan, Europe (France,
Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China,
India and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin
America) and Rest of World. The report analyzes the Starch market by the
following Product Group/Segment - Dry Starch (Native, Modified, and Other Dry
Starches) and Liquid Starch.
For
enquiries e-mail us at rsd@strategyr.com or info411@strategyr.com.
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