The global starch derivatives market is likely to attain value above USD 75 billion by 2024. Increasing demand for sweeteners in several food items for example carbonated & energy drinks and bakery & confectionary will propel growth in the next seven years (2016-2024). Rising pharmaceutical industry in nations such as India, the U.S, Saudi Arabia, Brazil, and China is anticipated to boost for starch derivatives.
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Strict regulations encouraging the use of natural ingredients across various sectors (pharmaceutical, textile, fermentation and cosmetics) will potentially drive the market. Elevated research and development (R&D) cost along with variable prices of raw materials could challenge the major growth during the review period.
The market is segmented by products, applications, and regions. Products are glucose syrup, maltodextrin, hydrolysates, cyclodextrin, modified starch, and others.
Glucose syrup led the market in 2014. It was valued at 55.0% in terms of volumes in that year. It is likely to witness major gains over the forecast period. This growth could be ascribed to rising consumption of desserts, ice creams, processed meats, bakery products, and sauces.
Increasing glucose consumption in non-food applications counting adhesives, plywood, paper, cosmetics, and pharmaceuticals could spur the segment demand further. In addition, it serves as a volume adding agent, flavor enhancer, texture agent and inhibitor of sugar crystallization in drinks.
Maltodextrin is projected to observe considerable growth in terms of revenue. It is expanding at a CAGR of 6.6% over the forecast period. Its growing use in sectors such as food, cosmetics, pharmaceuticals, paper, textile, construction, and paints & coatings will attribute to the growth.
Applications in the market consist of food & beverages, cosmetics, paper, pharmaceuticals, feed, and others. Food & beverages was the leading application segment in 2015. It contributed more than 60% of the total volumes in the aforementioned year. The segment is escalating at a lucrative rate on account of growing consumption for convenience and packaged food in assorted countries including China, India, Brazil, the U.S., Germany, and Saudi Arabia. Key companies involved in the worldwide starch derivatives market are Cargill Inc, ADM, Agrana Group Emsland Group, Roquette Frères, and Ingredion Incorporated.
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