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Industrial Starch Market size in 2019 is estimated to be $87.93 billion, growing at a CAGR of 6.6% during the forecast period 2020-2025. Starch is an integral part of adhesive formulations and is used in wide range of industrial applications and is derived from various natural sources such as wheat, rice, tapioca, potato, and maize. Increasing demand for convenience foods and rapid growth in food processing industry are the major factors driving the growth of the market. Moreover, growing consumption of ready to eat food and increasing investment in R&D activities further enhance the overall market demand for Industrial Starch during the forecast period 2020-2025.
Type – Segment Analysis
Based on the Type, Industrial Starch Market is segmented into Native Starch, Starch Derivatives & Sweeteners. The native starch segment is forecast to be the fastest-growing segment and is projected to grow at a CAGR of 5.8% during the forecast period 2020-2025. This is mainly owing to various properties such as high water binding and retention, good feed texturiation and provides long shelf life. Moreover, increasing demand of food and feed industry that are contributing to the growth of this segment.
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Source – Segment Analysis
Based on the Source, Industrial Starch Market is segmented into Corn, Wheat, Cassava, Potato, and Other. In 2019, potato held the largest share in the Industrial Starch Market. The potato starch is used in the food processing industry as a texturizer, gelling agent, binder, and general thickener. Moreover, according to food and agriculture organization the production of potato has exceeds 388,191,000 tones is also contributing to the growth of this segment.
Geography – Segment Analysis
North America dominated the Industrial Starch Market share accounting for 39% of the market in 2019. This is mainly owing to rapid growth of industrial packaging and demand for processed food. According to United States Food and Agriculture Organization, it is estimated that the production of food increases by 70% owing to continuously growing population which increases the demand for Industrial Starch Market.
However, the Asia-Pacific region is projected to be the fastest-growing during the forecast period 2020-2025. This is owing to growing manufacturing facilities for bioplastics and changing lifestyle.
Drivers – Industrial Starch Market
Increasing Demand of Convenience Food
Increasing demand of convenience food and rising demand for ready to eat foods are some factors driving the growth of Industrial Starch Market. Moreover, the rise in demand for adhesive materials in various industries and multifunctionality application of starch in various industries is also set to increase the market growth.
Rapid Growth in Food Processing Industry
Increasing growth in food processing industry and increasing consumption of industrial starch as adhesives in consumer products and packaging industry are some factors driving the growth of the market. Moreover, increasing invention of biodegradable plastics from renewable biomass sources such as corn starch, vegetable fats and oils, banana peel, and potato starch further contributing to the growth of Industrial Starch market.
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Challenges – Industrial Starch Market
Increasing demand for resin glue as an alternative for starch in paper and textile industry are challenging the growth of the market. Moreover, high cost of R&D activities are further restraining its market growth during the forecast period 2020-2025.
Industrial Starch Industry Outlook
Product launches, Merger & Acquisitions, joint ventures and R&D activities are key strategies adopted by players in the Industrial Starch Market. Industrial Starch top 10 companies are Cargill, Incorporated, Archer Daniels Midland Company, Ingredion Incorporated, Tate & Lyle PLC, Agrana Beteiligungs-AG, Grain Processing Corporation, Roquette Frères, The Tereos Group, Royal Cosun, Altia Industrial Services, Grain Processing Corporation, and Grain Processing Corporation.
On January 2020, Tate & Lyle launches new non-GMO ingredients which include starch and is made from dent corn which is used in processed cheese for the enhancement of their texture.
On August 2016, Ingredion Incorporated has an acquisition with Sun Flour Industry Co. Ltd. Which increases its high-value speciality ingredients which include starch.
In 2019, North America dominates the Industrial Starch Market owing to rapid growth of industrial packaging and demand for processed food.
Increasing demand for convenience foods and rapid growth in food processing industry is driving the market growth of Industrial Starch.
Detailed analysis of the Strength, Weakness, and opportunities of the prominent players operating in the market will be provided in the Industrial Starch Market report.
Increasing demand for resin glue as an alternative for starch in paper and textile industry are challenging the growth of the market.
Related Reports :
A. Latin America Corn Starch Market
B. India Corn Starch Market
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