According to a recent report by Future Market Insights, a market research and competitive intelligence provider, The global modified starch market is expected to be worth USD 12.6 billion in 2022, rising to USD 21.2 billion by 2032, representing a CAGR of 5.6 percent.
Modified starches are employed in a variety of food products because their functional qualities are far superior to those of native starches. Many physical modification procedures, such as heat-moisture treatment and annealing, cause starch granules to be physically modified without being damaged or gelatinized.
The demand for processed and convenient foods is increasing as the world’s population grows. Modified starch is a crucial and useful element found in ready-to-eat foods and products. With the rise in demand for processed foods, demand for modified starch is likely to rise as well, boosting market growth.
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Key Takeaways from Market Study
Fast food restaurants make up a substantial portion of the food services industry, and their popularity has grown over time as a result of their focus on competitive and low pricing, along with rising customer demand for convenience foods. Fast food restaurants frequently employ modified starch in their food preparations to enhance the texture, flavour, and taste of their dishes.
Corn led the modified starch market in terms of raw material. Corn is a staple meal that is popular all across the world due to its role in many countries’ diets. It’s commonly used to thicken soups and other liquid-based meals like sauces, gravies, and custards.
In the near future, North America and Europe are projected to lead the way in terms of innovation and implementation of new starch modification techniques. Furthermore, constantly changing consumer habits and significant demand for fat-free milk and low-fat dairy products are expected to have a direct impact on the market’s growth prospects in North America and Europe.
“The demand for environmental sustainability across numerous industrial areas is reaching new heights in the current climate. Furthermore, attempts to combat environmental degradation, combined with an increased focus on food security, have prompted researchers working in the modified starch field to lean toward the adoption of new modification techniques in order to ensure the food sector’s long-term viability.” says a Future Market Insights analyst.
Competitive Landscape
The global modified starch market is characterized by a reasonably consolidated competitive environment, with the majority of significant competitors maintaining a strategic focus on the creation of strong distribution partnerships and joint ventures in order to establish a stronger global presence.
Leading modified starch manufacturers are focusing on R&D and new product releases to meet the growing demand for natural ingredients in Asia, the Pacific, the Middle East, and Africa.
For example, Cargill spent USD 200 million on its Krefeld, Germany, facility in 2019. The money was put in to convert the corn-processing plant to wheat-processing. This move will allow the company to respond to shifting market conditions and increased demand for industrial starches in the packaging industry.
Archer Daniels Midland Company (ADM) and General Starch Limited (GSL) formed cooperation in 2019. GSL is a major producer of tapioca starch based in Thailand. ADM will have exclusive distribution rights for GSL modified tapioca starch in the majority of Europe, the Middle East, and Africa as a result of this strategic relationship.
Some of the leading companies offering modified starch are Cargill, Archer Daniels Midland Company, Roquette Frères Company, Ingredion Incorporated, Tate & Lyle PLC, The Agrana Group, Emsland Group, The cooperative Avebe U.A, Global, Pars Khoosheh Pardaz Co., Samyang Corporation, SMS Corporation Co., Ltd., SPAC Starch Products (India) Ltd, Tongaat Hulett Starch, Zarand Agro Industry Co., and Euroduna Food Ingredients GmbH.
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Future Market Insights, in its new offering, provides an unbiased analysis of the modified starch market presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.
By Source:
Maize/ Corn
Wheat
Potato
Tapioca
Rice
By Product Type:
Acetylated Starch
Physically Modified Starch
Enzyme Modified Starch
Anionic Starch
Cationic Starch
Dextrin
Oxidized Starch
Thinned Starch
Pre-Gelatinized Starch
Others
By Application:
Food and Beverage
Bakery Products
Dairy Products
Meat & Poultry
Convenience Food
Others
Animal Feed
Cosmetic and Personal Care
Papermaking
Textile
Pharmaceuticals
Others
By Region:
North America
Latin America
Europe
APAC
MEA
Information Source: https://www.futuremarketinsights.com/reports/modified-starch-market