The global modified starch market is expected to reach USD 15.36
billion by 2024, according to a new report by Grand View Research, Inc. Growing
demand for modified starch as a stabilizer, thickening agent, binder, and
emulsifier in food & beverage, paper, and textile applications will augment
growth. Competitive pricing owing to a large number of suppliers is expected to
be a key feature of the industry over the next seven years.
Growing awareness among
consumers regarding general well-being has resulted in a shift towards high
nutritional value diet. Moreover, increasing demand for natural sweeteners in
beverages, particularly in non-carbonated soft drinks and energy drinks, due to
their low calorific value is likely to drive growth in the near future.
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Further key findings
from the report suggest:
·
Resistant starch
products accounted for 25.5% of the global volume share in 2015. Increasing
focus on health benefits coupled with the advantage of enhancing taste,
appearance and texture by using resistance starches is expected to be a
critical factor for influencing need from the food sector.
·
Europe modified
starch market is expected to grow at a CAGR of 5.6% from 2016 to 2024, in terms
of volume. The food & beverage industry in Germany is projected to grow
significantly on account of changing consumer eating habits coupled with high-quality
food production. This factor will have a positive impact on the modified starch
industry in the region.
·
Asia Pacific is
expected to witness significant growth at a CAGR of 7.2% from 2016 to 2024 in
terms of volume. Increasing production volumes of paper, textile, and
pharmaceutical, particularly, in India and China is expected to be a vital
factor driving expansion in the region. The Asia Pacific industry is estimated
to generate revenues exceeding USD 4.75 billion by 2024.
·
Modified starch
demand in textiles was 1,345.4 kilo tons in 2014. The intervention of
government policies including FDI is expected to drive the Indian textile
industry with the country being one of the leading textile raw material
producers in Asia Pacific. The Brazilian textile industry is being majorly
driven by the local consumer base with 85% of the total production getting sold
in the domestic market. The government imposing high taxes on exports across
the continent is driving the demand for modified starch in the region.
·
Key industry
players including Emsland-Stärke GmbH, Grain Processing Corporation, Global
Bio-Chem Technology Group, Ingredion Incorporated, Cargill, Inc., Agrana
Beteiligungs-Ag, and Avebe U.A have a broad range of supplier and distribution
network globally. Archer Daniels Midland Company, Roquette Frères, China
Essence Group Ltd, and Tate & Lyle PLC, are investing heavily in research
and development for the product. In August 2015, Archer Daniels Midland Company
established distribution & merchandising offices in El Salvador and
Guatemala, to expand its footprint in Central America.
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About Grand View
Research
Grand View Research, Inc. is a U.S. based market research and
consulting company, registered in the State of California and headquartered in
San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
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