The Most Prominent Players competing in the Global Modified Starches Market include- Roquette Frères (France), Agrana Beteiligungs-AG (Austria), Tate & Lyle PLC (U.K.), Cargill, Incorporated (U.S.), Grain Processing Corporation (U.S.), Ingredion Incorporated (U.S.), Archer Daniels Midland Company (U.S.)
Market Drivers and Key Barriers
Increasing demand for convenience food along with the rapidly expanding pharmaceutical industry, especially in the Asia Pacific region, is going to be a driving force behind the growth of the Global Modified Starches Market. Moreover, the market is intensely competitive, inundated with a large number of companies primarily concentrated in Europe, Asia Pacific and North America.
Globally, the Modified Starches Market is slated to showcase a dynamic growth pattern, expanding at a CAGR of 4.22% during the forecast period (2016-2022).
The United States (U.S.) is one of the leading nations thriving in the global market, when it comes to starch production, along with the consumption, due to the strong demand from diverse end-use industries. Furthermore, the prominent end-use sectors include pharmaceuticals, food & beverage, animal feed, oil and drilling, paper and textiles. Also, the modified starches are made from wheat and maize on account of their low cost as well as the ease of availability and processing.
Apart from this, small-scale mill owners play an integral part in the overall growth of the market, with growing collaborations between them and large-scale manufacturers, acting as contract manufacturers. It has been noted that many of the well-established companies in the modified starches market are continuously focusing on research and development activities, especially making use of new technology for the processing in a bid to enhance the product properties as well as for improving the overall capabilities.
January 2019 – A team of researchers based in India have created a biodegradable film derived from psyllium husk, lotus stem starch, and whey protein. The added combination of psyllium husks and whey protein will elevate the mechanical strength of the film.
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- Modified starches manufacturers
- Food and beverages manufacturers
- Personal Care
- Retailers & wholesalers
- E-commerce companies
- Traders, importers and exporters
Based on Region, the Global Modified Starches Market can be divided into the key regions of Asia Pacific, Europe, the Middle East and Africa as well as North America.
Among all the regions, it is predicted that Asia Pacific will be leading the global modified starches market over the conjectured time period, followed by Europe and North America. The regional market owes its phenomenal performance to the easy availability of the plant sources of modified starches, with the widespread cultivation of starchy plants resulting in the starch being used to produce modified starches. Moreover, cheap raw material costs, comparatively lax environmental regulations as well as low production costs are bound to present lucrative opportunities to the modified starches market in Asia Pacific in the coming years. Another factor that promotes the market growth is the increasing demand for packaged food in the emerging economies, bearing more good news for the modified starches market.
However, it is the region of North America that is holding the maximum share in the global modified starches market, with the likelihood of it exhibiting a robust 3.93% CAGR during the assessment period. The expanding packaged food industry in the region is an impactful factor helping with the growth of the modified starches market in the region, with the demand for ingredients needed for stabilizing and preserving packaged food has increased proportionately with the packaged food industry, thereby presenting a considerable scope for the market in the region.
On the other hand, Europe is poised to showcase the highest growth rate among all the regions in the global modified starches market in the forthcoming years, primarily on account of the accelerated demand for modified starches among the thriving papermaking industry in the region.
The market for modified starches is segmented on the basis of Source, Form, and Application.
Based on the Source
- Other Sources
Based on the Form
Based on the Application
- Food & beverages
- Non-food application- processed food, confectionery, beverages, and others.
- Corrugation & paper making is projected to dominate the market and will grow at a CAGR of 4.22%
- Rise in demand for confectionery from the range of food & beverage sector will grow at CAGR 4.25%
- In European region Germany dominates the market, followed by France
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