Based on raw material type, the global waxy starch market is segmented into corn starch, potato starch and others; by application into thickeners, emulsifiers, bakery and others; by end user into food, chemicals & pharmaceuticals, paper and others.
The global modified waxy starch market is anticipated to record a CAGR of around 5% over the forecast period i.e. 2019-2027.
Modified Waxy Starch is the physical and chemical modification of native starches. The functional properties are improved to get advantageous properties over those of the native starches. Modified waxy starch is formed by morphological or physicochemical changes in the structure of native starch via its treatment with heat, acids, alkalis, or enzymes. These have improved water-holding capacity, heat resistance, binding characteristics and thickening property. Chemical modification changes some functional properties of waxy starches which offers a wide range of applications. Acetylated starches are majorly used in food industries for several years because of important factors such as high solubility, low temperature of gelatinization and good cooking and storage ability.
Modified starch is mainly extracted from maize, potato, wheat, and cassava. Rising food & beverage industry is increasing the demand of modified waxy starch as these are used as a thickening agents, stabilizing agents or emulsifying agents. Moreover, the modified starch is partially digestible in nature and gluten free which provide the lesser fat than the regular starch.
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Additionally, growing usage of modified starch in pharmaceutical, cosmetics and paper industries is expected to drive the growth of the market.
On the basis of region, the global modified waxy starch market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in APAC is anticipated to witness a significant growth during the forecast period on the back of rising population and growing demand of food & beverages. Moreover, rise in demand for modified starches in several developing regions and increase in industrialization is also expected to foster the growth of market. The market in North America is also estimated to show a considerable growth over the forecast period owing to the increasing number of pharmaceutical industries.
The rising demand for modified waxy starch and derivatives for various processes in pharmaceutical, food and paper industries are expected to drive the market rapidly over the forecast period. The numerous uses of modified waxy starch in food industry has numerous applications including fat replacement, texture improving, enriching nutritional value by maintaining stability at high temperature. Additionally, modified waxy starch have their application in paper industries for filter retention and paper coating; in industrial application as paint ingredient and as an adhesive. In cosmetics, chemicals and pharmaceutical industries, modified waxy starch is used as a binding agent in make-up, emulsifier for many cosmetic products, face creams, in pills and tablets.
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However, availability of substitutes and volatility in raw material prices are expected to hinder the market growth. Moreover, the modified waxy starch when consumed regularly causes gastrointestinal diseases which is anticipated to hamper the market growth further over the forecast period.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global modified waxy starch market which includes company profiling of ADM, Cargill Inc, Ingredion Inc. , Tate & Lyle Plc , Partner-M , Shandong Zhengde Food Co. Ltd. , Everest Starch Pvt Ltd , AGRANA Stärke GmbHand other prominent players. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global modified waxy starch marketthat will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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