DUBLIN--(BUSINESS WIRE)--The "Modified Starch Market by Raw Material (Corn, Cassava, Potato, and Wheat), Application (Food & Beverages (Bakery & Confectionery, Processed Foods, Beverages, and Other Food Applications), Industrial, and Feed), Form, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The Global Modified Starch Market Size is Estimated to be Valued at USD 13.1 Billion in 2020 and Projected to Reach USD 14.9 Billion by 2025, Recording a CAGR of 2.7%.
The market is driven primarily by factors such as increasing consumption of processed food and convenience food. Asia Pacific is projected to be the fastest-growing regional market. Asian countries, especially China, have emerged as leading destinations, as major companies are investing in these countries. One of the major restraints in the growth of the modified starch market is the rising costs of raw materials and stringent regulations.
By application, the food & beverages segment is projected to grow at the highest CAGR during the forecast period.
Based on the application, the food & beverages segment is expected to be the fastest-growing during the forecast period. This segment is rapidly growing, mainly due to the increasing demand for convenience food, in which modified starches are considered as food additives. In food applications, the modified starches are used for their functional applications, as fat replacers, texture improvers, nutritional products, high shear ability, and temperature stability.
By form, the dry form is estimated to account for the largest share.
The dry form of the modified starch is dominating the market. The dry form of the modified starch is quite popular among the manufacturers. Due to its high stability and easy storage as compared to the liquid form, it is preferable among food and beverage manufacturers. The dry form of modified starches are also known to dilute easily with the other ingredients; thereby, it is more in demand across various industries.
The Asia Pacific region is projected to grow at the highest CAGR during the forecast period
Asia Pacific is projected to be the fastest-growing market for the period considered for this study, due to the rise in disposable income and increase in demand for convenience & processed food, along with the growing industrial base, leading to increased demand for modified starch in the region. In addition, the increasing industrial applications, starch processing technologies, and ready availability of modified starch drive the market in Asia Pacific countries.
Market Dynamics
Drivers
- Rising Demand for Processed and Convenience Food
- Functional Properties of Modified Starch and Their Ease of Incorporation in a Wide Range of Food Applications
- Growing Demand for Adhesives in a Range of Industrial Applications
- Increase in Research & Development Activities to Develop Innovative Products
Restraints
- Limited Sources and High Cost of Natural Additives
- Growing Gum Arabic Market
Opportunities
- Potential Alternative Sources of Modified Starch
- Untapped Application of Modified Starch
Challenges
- Approval from Various Regulatory Bodies
- Rising Cost of Raw Materials
COVID-19 Impact on Modified Starch Market
Leading players profiled in this report include the following:
- Archer Daniels Midland Company (ADM) (US)
- Cargill (US)
- Ingredion (US)
- Tate & Lyle (UK)
- Roquette Frres (France)
- Avebe U.A (the Netherlands)
- Grain Processing Corporation (US)
- Emsland (Germany)
- AGRANA (Austria)
- SMS Corporation (Thailand)
- Global Bio-Chem Technology Group (Hong Kong)
- SPAC Starch (India)
- Qindao CBH Company (China)
- Tereos (France)
- KMC (Denmark)
- Beneo (Germany)
- Angel Starch Food Pvt. Ltd. (India)
- Shubham Starch Chem Pvt Ltd. (India)
- Everest Starch India Pvt Ltd. (India)
- Sheekharr Starch Pvt Ltd. (India)
- Sanstar Bio-Polymers Ltd. (India)
- Universal Biopolymers (India)
- Sonish Starch Technology Ltd. (Thailand)
- Venus Starch Suppliers (India)
- GromotechAgrochem Pvt. Ltd. (India)
For more information about this report visit https://www.researchandmarkets.com/r/tyrqx8
