The Global Industrial Starch Market was valued at ~US$60 billion in 2017. It is estimated to be ~US$ 85 billion in 2022 and is expected to reach a market size of ~US$ 125 billion by 2028 growing at a CAGR of ~7% during the forecast period (2022-2028). The increasing use of industrial starch as a thickening, stabilizing, and gelling agent, binder, diluent, and excipient is expected to drive the demand for industrial starch during the forecast period.
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Key Growth Drivers
- Industrial starches can stabilize products like yogurt, bread goods, and convenience meals, manage texture, control moisture, and assist manufacturers to achieve the desired product quality. The worldwide industrial starch market is anticipated to benefit from increased customer knowledge and concerns about the food components used in food products and rising consumer preference for bio-based ingredients.
- The worldwide food and beverage sector is being significantly impacted by the trend toward clean-label ingredients and products. Furthermore, the rapid expansion of the food processing industry provides considerable potential for ingredient manufacturers to implement strategic steps to meet rising demand.
- Growing demand for sap sticks as a starch substitute in the paper and material industries is putting the global market's growth to the test. Significant R&D expenditures are also limiting the growth of the Industrial Starch Market during the period.
- During the COVID-19 pandemic, the pharmaceutical sector helped the industrial starch market to prosper. Starch is utilized in the pharmaceutical sector as a disintegrant and binder. Furthermore, the successful implementation of mass vaccination efforts in 2021 resulted in increased commercial activities.
Key Trends by Market Segment
By Type: The Native segment held the largest market share in 2021, due to several qualities, including high water restriction and maintenance, excellent feed texturization, and a longer usable lifespan.
- The original form of starch is native starches. They are frequently used in the formulation of foods, medications, and other industrial goods.
- By applying acids and other chemicals to the native starch at particular temperatures, the characteristics can be altered to fit a variety of uses.
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By Source: Corn segment held the largest market share in 2021, due to its diverse use as a very versatile ingredient in the food and beverage industry.
- A carbohydrate called corn starch is taken out of the endosperm of corn seeds. Corn starch is becoming more popular on the market since it is gluten-free. It is a good source of energy and protects those with nocturnal hypoglycemia from low blood sugar.
- Cornstarch is a thickening agent that is used in gravies, marinades, sauces, soups, and casseroles.
By Form: Dry segment held the largest market share in 2021, due to customers' preference for convenient foods that are readily available and have good nutritional value, dry industrial starch usage has expanded due to the busy lifestyle and high disposable income.
- The food industry employs dry starch. In food items, it serves as an emulsifier and a stabilizer. Dry starch is used in baked goods, confections, and frozen foods.
By Application: Food & Beverage segment held the largest market share in 2021, due increasing use of industrial starch in the bakery and confectionery industries.
- The global industrial starch market is anticipated to increase significantly due to the use of industrial starch in food and beverage.
- Starches are frequently utilized in meat processing for their ability to retain water and improve texture. To lower the cost of formulation and enhance texture, industrial starches are added to meat product formulations as water binders.
- Industrial starches are also widely utilized as emulsifiers and swelling agents in baking and confectionery.
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By Geography: North America accounted for the largest market share in 2021 of the global industrial starch market, due to the presence of numerous multinational food manufacturing and processing businesses, there is a rising need for industrial starch.
- The demand for native starch in this North America is expected to increase due to the expanding customer base's need for healthier food and beverage options and the manufacturers' increased adoption of new methods to reduce calories, fat, and sugar.
- Presence of leading companies operating in industrial starch, like Archer Daniels Midland Company, Grain Processing Corporation, and others, will catalyze the expansion of this market.
Competitive Landscape
The Global Industrial Starch Market is highly competitive with ~200 players which include globally diversified players, regional players, and country-niche players with their niche in the starch market.
Country-niche players constitute ~55% of the market, while the regional players are the second largest by type. Some of the major players in the market include Cargill, Incorporated, Tate & Lyle, AGRANA Beteiligungs-AG, Tereos, Archer Daniels Midland Company, Ingredion, Grain Processing Corporation, Roquette Frères, Cosun, Altia Inc., among others.
Recent Developments Related to Major Players
- In April 2021, Cargill Inc. has stated that it will broaden its specialty tapioca starch offerings in the Asia Pacific area. Cargill collaborated with Starpro, a Thai company that makes food-grade tapioca starch. To meet the product processing needs of food manufacturers and consumer expectations, it intends to grow in the Asia-Pacific region.
- In September 2021, Tereos Group announced the sale of its investment in starch operations in China to the YKA Group as part of its new strategy, which will be unveiled in June 2021. The business declared its intention to cut its debt and focused on its three key business operations.
Conclusion
The global industrial starch market is forecasted to continue its growth that is witnessed since 2017, due to its increasingly used as a thickening, stabilizing, and gelling agent, binder, diluent, and excipient, leading to strong demand for industrial starch. Though the market is highly competitive with ~200 players, few global players control the dominant market share and regional players also hold a significant market share.
Note: This is an upcoming/planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients, and the report delivered within a maximum of 2 working weeks.
Ken Research has recently published report titled, Global Industrial Starch Market Size, Segments, Outlook, and Revenue Forecast 2022-2028. In addition, the report also covers market size and forecasts for the four region’s Industrial Starch Markets. The revenue used to size and forecast the market for each segment is US$ billion.
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