Sweet Potato Starch Market size was estimated at $520 Million in 2019 and is projected to grow at a CAGR of 3.8% during the forecast period 2020-2025. Sweet potato is the raw material of sweet potato starch which is made from fresh sweet potatoes or from its dried chips. This starch has higher gelatinization temperature and lower adsorption of heat, which has many industrial applications such as sweeteners, citric acid, beverages, noodle processing, industrial alcohol, ethanol, fuel, and derived goods such as maltose. Sweet potatoes starch is rich in beta carotene, which is converted into vitamin E in the body, it consists of vitamin C, potassium which decreases the heart diseases risks, manganese, vitamin B6, vitamin B5 and vitamin E that are vital for growth, metabolism and development and it offers various antioxidants which helps and protects against certain cancers owing to which there is increased demand. Companies in China and India, on the other hand are throwing more focus on direct sales to increase the revenue.
There are several companies in the market that make rivalry very fierce and it makes the costs of various brands more and more expensive. The price of sweet potato starch is also influenced by the price of constant fluctuating raw material which poses a major challenge to the market. However, the wide range of applications of Sweet potato Starch is anticipated to drive the market.
Sweet Potato Starch Market Segment Analysis – By End Use
The End-Use segment of the Sweet Potato Starch Market has Food & Beverage, Textile, and Paper & Adhesives. The Food & Beverage segment of the Sweet Potato Starch Market accounts for the largest market share and expected to grow at 3.4 % CAGR due to their wide use in various forms of food such as sweeteners, thickeners, soups, noodles and more. The textile segment accounts for the second-largest market share. As the starch is used in textile sizing like as cotton yarn sizing. The properties of the sweet potato starch is similar to that of cotton and rayon chemically and thus has good adhesion.
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Sweet Potato Starch Market Segment Analysis – By Geography
Based on Geography the global Sweet Potato Starch Market is segmented into North America, Europe, Asia-Pacific and Rest of the World. Asia dominated the market share with 44% in the year 2019 owing to the high consumption of sweet potato in this region. Whereas rest of the world including South America and Africa is also displaying a significant share of value in the global market for sweet potato starch and the key factor is the rise in the use of sweet potato starch in their food items. However, Europe is showing the fastest rise in the global demand for sweet potato starch due to increased expenditure on foods and improvements in eating habits in the region.
Sweet Potato Starch Market Drivers
Growing demand for Enriched Flour:
The growing trend in health awareness is projected to have a positive effect on the global demand for sweet potato starch. The sweet potato starch is versatile and has a higher nutrient value than any other starch such as wheat and soya. It is high in sugars, vitamins, calories, iron and is gluten-free. This makes it appealing to customers, in a particular professional athletes and sportsmen who drink it for instant energy and carbohydrates. As a result, manufactures are expected to increasingly include sweet potato starch into their products.
Alternative for Bakery flours:
The starch of sweet potato can be milled into flour to make it gluten-free bakery products. As the market for Asian food is growing across the world and the sweet potato being a prime ingredient in this food is driving the market of Sweet Potato Starch Market. Currently it’s becoming an easy substitute for wheat flour. The producers of these flour are marketing it as an alternative for the wheat flour for the bakery use. Items such as bread, muffins, and cakes are now fully made of sweet potato flour.
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Sweet Potato Starch Market Challenges
Quality of Raw Materials:
The raw materials, fresh sweet potatoes are combined with sweet potatoes, water damage, frozen sweet potatoes or sweet potatoes with so much impurity, which decreases the yield of the powder. Thus, in the sweet potato starch processing line quality must be strictly regulated.
The starch of sweet potatoes is present in its tuber. The sweet potatoes must be finely crushed to moist starch granules. If the grinding is too rough, the starch in the unbroken cells will be difficult to separate, which will affect the starch yield. And if the grinding is too fine then the temperature of the raw materials is likely to increase, and some of them easily gets gelatinised which could affect after the separation.
Sweet Potato Starch Market Industry Outlook
Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Sweet Potato Starch Market. In 2019, Sweet Potato Starch Market share is fragmented by the top ten players present in the market. Sweet Potato Starch Market top 10 companies are SUNAS, Rich Moon, Abundant States, SAI RAM, Guang You, Liuxu Food, Shandong Huaqiang, Henan Tianyu, Shanxi Dongbao, Baijia Food.
Baijia Food, a Chinese producer of high-end instant noodles and other convenience foods, has raised $28million in the series B round led by GL ventures, a subsidiary of Beijing-based private equity company Hillhouse Capital.
Geographically, Asia Sweet Potato Starch Market accounted for the 44% revenue share in 2019 and it is predicted to dominate during the forecast period 2020-2025 owing to the high demand for Sweet Potato Starch in this region.
Increased demand for the sweet potato starch as an alternative for the bakery flour and as a thickener in different region of the world are driving the market.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Sweet Potato Starch Market.
Related Reports :
A. Bangladesh Starch And Starch Derivative Market
B. Latin America Starch Derivatives Market
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