Modified Starch Market is Expected to Grow USD 14,245 Million By 2022
The Global Modified Starch Market will grow at a CAGR of
3.8% from 2017 to 2022 to reach USD $14,245 million by 2022, according to
latest publication from Meticulous Research®. This is driven by favourable
functional properties of modified starch in food industry, increasing demand
for clean label products, growing convenience food sector, and abundant
availability of maize. In addition, the increasing use of modified starch in
energy drinks and non-carbonated soft drinks for low calories value expectation
and growing use of modified starches as a fat replacer in many food
applications are the other leading factors expected to propel the growth of the
global modified starch market. However, the fluctuating raw material prices and
increasing use of gum arabic is expected to hinder the growth of the market to
some extent.
The global modified starch market
is segmented by raw material (corn, potato, cassava, wheat and others),
function (thickener, binder, stabilizer, emulsifier and other), application
(food and beverages, textile industry, paper industry, pharmaceuticals, animal
nutrition and others), and geography (North America, Europe, Asia-Pacific,
Latin America, and Middle East & Africa).
The corn is estimated to be the
largest raw material in the modified starch market in 2016, due to its abundant
availability and wide range of applications in the food & beverage industry. However,
the Cassava is expected to grow faster, as it is the most economic source of
starch on a global level.
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North America holds the major
share in the global modified starch market followed by Asia-Pacific and Europe
region. However, Asia-Pacific region possesses lucrative growth potential for
the modified starch market during the forecast period. This is mainly
attributed to the extensive customer base in these regions due to large base of
population and growing convenience food sector. Most of the modified starch
market in this region will be driven by developing countries such as India and
China due to the increasing purchasing power, rising production volume of food
and beverages and textile industries. In addition, increasing demand for
natural ingredients in food and abundant availability of raw materials
showcases great potential for the modified starch market in these countries.
The leading companies have
employed various strategies to expand their product offerings, global
footprint, and augment their market share. The key strategies followed by most
companies in the global modified starch market were new product developments,
agreements and collaborations, and expansions. Expansions were the most
preferred growth strategy adopted by the key players, during the period of
2014–2017, enabling companies to strengthen their manufacturing and R&D
capabilities, to fulfill growing regional demand, and ensure a competitive edge
in the global modified starch market. The key players in the global modified
starch market are Ingredion Incorporated, Cargill Incorporated, Achier Daniels
Midland Company, AGRANA Beteiligungs-AG, Emsland-Stärke GmbH, Grain Processing
Corporation, Roquette Frères S.A., Tate & Lyle PLC, AVEBE U.A., and Global
Bio-chem Technology Group Company Limited.
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founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in
2013 as a private limited company under the Companies Act, 1956. Since its
incorporation, the company has become the leading provider of premium market
intelligence in North America, Europe, Asia-Pacific, Latin America, and Middle
East & Africa.
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