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Starch Derivatives Market Overview
The starch derivatives market is anticipated to surge from USD 38.9 billion in 2023 to USD 67.8 billion by 2030, reflecting a robust 9.70% compound annual growth rate (CAGR). This projection underscores the industry’s resilience and sustained expansion throughout the forecast period from 2023 to 2030.
The starch derivatives market is a growing segment of the global food industry. Starch derivatives are modified forms of starch used in various applications, including food, pharmaceuticals, and industrial processes. Increasing demand for convenience foods and the need for thickening and stabilizing agents drive market growth.
Key Players
Eminent industry players profiled in the global starch derivatives market report include Archer Daniels Midland Company (US), Agrana Group (Austria), Avebe U.A. (The Netherlands), Beneo GmbH (Germany), Cargill Incorporated (US), and Emsland-Stärke GmbH (Germany).
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Drivers
The Starch Derivatives Market is driven by factors such as increasing demand for convenience foods, growth in the pharmaceutical industry, and the use of starch derivatives in various industrial applications like paper, textiles, and cosmetics. Additionally, the rising consumer preference for natural and clean-label products is boosting market growth.
Increasing Product Use in F&B to Boost Market Growth
The increasing use of starch derivatives in the food and beverage sector will boost market growth over the forecast period. Starch derivatives are mostly used as encapsulating, stabilizing, emulsifying, and thickening agent in dairy products, mayonnaise, desserts, soups, salad dressings, and sauces that helps to improve texture, increase stability, and preserve nutrients, fragrances, and flavor. Together with this, the burgeoning need for fast-food and convenience products owing to consumers changing dietary preferences is also fuelling market growth.
Opportunities
Demand for Natural & Clean Label Ingredients to offer Robust Opportunities
With people becoming even more health conscious, automatically there has been a burgeoning demand for natural and clean label ingredients that will offer robust opportunities for the starch derivatives market in the forecast period. Modified starch as well as starch derivatives can be utilized for replacing artificial additives and augmenting the nutritional profile of the products.
Restraints and Challenges
Increasing Cost to act as Market Restraint
The increasing cost of starch derivatives, increasing price of raw materials, and stringent government regulations concerning the usage of starch derivatives may act as market restraints over the forecast period.
Market Segmentation
The global starch derivatives market is bifurcated based on function, application, and type.
By type, glucose syrups will lead the market over the forecast period.
By application, food and beverages will domineer the market over the forecast period.
By function, thickening will spearhead the market over the forecast period.
COVID-19 Analysis
The COVID-19 epidemic possessed a mixed impact on the starch derivatives market. On the one hand there was a demand for specific starch derivatives especially those used in pharmaceuticals and food as people stocked up essential goods and pharmaceutical brands ramped up their production of vaccines and medications. On the other, due to supply chain disruptions, shortage of raw materials, and decline in restaurant & food service industry had a negative effect on the market growth.
Regional Analysis
APAC to Command Starch Derivatives Market
The APAC region will command the starch derivatives market and is likely to continue all through the assessment period. Various factors are propelling the market growth in this region such as the middle-class population in these countries are expanding quickly especially in China and India. As these classes turn wealthier, automatically they desire more nutritious and better-tasting food. Thus, the need for the food processed utilizing starch derivative is going up all through the APAC region.
Opportunities
The starch derivatives market presents significant opportunities driven by increasing demand in the food, pharmaceutical, and industrial sectors. Growing consumer preferences for convenience foods and the need for clean label ingredients are driving market growth. Additionally, the expansion of various end-use applications and innovative product developments further fuel these opportunities.
Restraints and Challenges
The starch derivatives market faces challenges such as fluctuating raw material prices, environmental concerns regarding wastewater from processing, and the need for constant innovation to meet changing consumer demands. Additionally, increasing competition and stringent regulations can constrain market growth.
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COVID-19 Analysis
The Covid-19 epidemic in 2020 increased demand for contact-free biometric services at airports because they provide identity and verification without any physical touch. Contactless biometric services provide quick and accurate identification while limiting exposure. Additionally, the pandemic has compelled airport management to implement contactless thermal checking biometric equipment to monitor passenger admission by measuring body temperature. Throughout the projected period, it is anticipated that the contactless airport biometric services industry will continue to rise. Airports all around the world are quickly implementing contactless biometric services including face recognition, voice recognition, & 3D advanced fingerprint recognition.
Regional Analysis
The starch derivatives market exhibits regional variations in demand and production. In North America, corn-based derivatives dominate, while Europe emphasizes wheat and potato derivatives. Asia-Pacific is a significant market due to its starch-rich crops like rice and tapioca. These regional differences are influenced by dietary preferences, agricultural practices, and industrial applications.
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