Starch Derivatives Market to surpass USD 65.5 billion by 2030 from USD 49.74 billion in 2019 at a CAGR of 8.7% throughout the forecast period, i.e., 2020-30. The market is mainly driven by a wide spectrum of applications of starch and its derivatives across different end-user sectors. The growth of the industry is likely to be driven by strict regulations promoting the use of natural ingredients across various industries, including pharmaceuticals, textiles, fermentation, and cosmetics. The underlying demand for starch-based adhesives is paper and packaging and is expected to experience healthy growth in the near future. The demand for bio-based and biodegradable adhesives is expected to fuel ever-increasing regulatory requirements for low-emission adhesives, which, in turn, is expected to drive the market for starch and its derivatives. Due to factors such as rising R&D spending, along with fluctuations in raw material prices, the demand for starch derivatives has seen significant growth. Besides, rising public health and wellness issues, along with a shifting desire for a healthy appetite, are key to improve the market.
In order to modify its properties, starch derivatives are made by enzymatically, mechanically, or chemically processing native starch. In different industries, starch derivatives are used. It is used in the food and beverage industry as a thickener and stabilizer, in the pharmaceutical industry as a tablet binder, in cosmetics as an emulsifier, and in animal feed as a fiber additive. Flocculation, film-forming, adhesiveness, pH stability improvement and shear stability, acid stability, and process tolerance enhancement are also other functions of starch derivatives. Starch derivatives are used in the pharmaceutical field as a tablet binder, as a food and beverage stabilizer and thickener, as a fiber filler in animal feed, and as an emulsifier in the cosmetic industry. In addition to these, adhesiveness, flocculation, film-forming, shear stability, pH stability improvement, process tolerance improvement, and acid stability are some more important applications of starch derivatives.
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Starch Derivatives Market: Key Players
- Archer Daniels Midland Company
- Cargill Incorporated
- Royal Avebe U.A (Avebe Nutrition)
- Ingredion Incorporated
- Tate & Lyle PLC
Starch Derivatives Market: Segments
Glucose syrup segment to grow with the highest CAGR of 6.3% during 2020-30
Starch Derivatives Market is segmented by product as maltodextrin, glucose syrup, cyclodextrin, hydrolysates, Modified starch, and Others. The greater market share in 2019 was accounted for by the Glucose syrup segment held the largest share of 55% in terms of volume in the Starch Derivatives market. Due to the increasing consumption of ice creams, sweets, bakery items, processed meats, and sauces, the segment is expected to experience substantial gains over the forecast period. Demand is expected to be propelled by increased glucose consumption in non-food applications, including cosmetics, pharmaceuticals, adhesives, textiles, paper, and plywood. It also acts as a taste enhancer, volume adding agent, texture agent, and sugar crystallization inhibitor in beverages. As a result of its growing usage in various industries, including food, cosmetics, pharmaceuticals, paper, textiles, construction, and paints and coatings, Maltodextrin is projected to grow at a revenue-based CAGR of 6.3% over the forecast period.
Pharmaceutical Segment to grow with the highest CAGR of 5.9% during 2020-30
Starch Derivatives Market is segmented by application into food & beverages, cosmetics, paper, pharmaceuticals, feed, and others. Food and beverages were the largest application segment in 2019 accounting for over 58.9% share of the global volume. In different countries, including China, India, Brazil, the United States, Germany, and Saudi Arabia, the segment is expected to see substantial growth due to rising consumption of packaged and convenience foods. Owing to high disposable income and developments in healthcare infrastructure, pharmaceuticals are projected to rise at a CAGR of 5.9 percent over the forecast period. Besides, over the forecast period, the growing pharmaceutical industry in the U.S., China, and India is forecast to deliver significant opportunities. The market for starch derivatives is expected to increase the inclination for the use of natural cosmetics.
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Starch Derivatives Market: Market Dynamics
Increasing Investments by Organizations
Population growth, increasing demand for convenience foods and beverages in developing countries, and an increase in per capita incomes are among the key factors driving the growth of the global market for starch derivatives. Besides, starch holds an important position in the sectors of glue processing, textile finishing and weaving, bio-fuel, and fermentation. A striking inflow of capital is expected to be witnessed by the industry, as starch producers are extending their commitment to improving the quality of their goods to have an advantage over their rivals. It is also anticipated that the use of these derivatives in the personal care segment as a drug coating and animal feed would provide potential scope for market growth in the coming years.
Variation in raw material costs
High R&D costs involved in the extraction and development of starch derivatives are one of the major factors limiting the growth of the demand for starch derivatives. They are used in different industries, such as food & beverage, pharmaceutical, paper, and many more, but they have small natural sources of starch extraction. Starch derivatives have improved functional properties and give various advantages. This has forced a large variety of starch derivatives for food and non-food applications to be developed and marketed by producers and marketers.
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Starch Derivatives Market report also contains analysis on:
Starch Derivatives Market Segments:
- By Product:
- Glucose syrup
- Modified starch
- By Raw Material:
- By Application:
- Food & beverages
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