Future Outlook of the Modified Starch Market
Meticulous Research® recently published its report, ‘Modified Starch Market Size, Share, Forecast, & Trends Analysis by Product Type, Raw Material, Production Method, Function, Form, End-use Industry – Global Forecast to 2031,’ forecasting the modified starch market to grow to $17.98 billion by 2031 at a CAGR of 4.1% from 2024 to 2031. The report highlights that the growing demand for processed and convenience foods, coupled with the functional properties of modified starch, is the primary driver of this market. Modified starch offers several benefits, including thickening, stabilizing, and emulsifying, which are crucial in enhancing food product textures. The rise in investments in the starch industry, advancements in starch modification technologies, and the increasing demand for bio-based products further contribute to market expansion. However, limitations in natural additive sources and high costs remain challenges.
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Potential Growth in Emerging Markets
Emerging economies in regions like Latin America, Asia-Pacific, and the Middle East & Africa present significant growth opportunities, particularly in the starch-based bioplastics sector. These regions are experiencing increased industrialization and consumer demand, providing a fertile ground for market expansion. On the other hand, regulatory challenges and escalating raw material costs could impact the market’s potential growth.
Product and Raw Material Breakdown
In 2024, acetylated distarch adipate is expected to hold the largest market share at 28.8%, thanks to its widespread use in food and beverage products as a thickener, stabilizer, and bulking agent. Corn, as the primary raw material, is projected to dominate with a 47.8% share due to its versatility, cost-effectiveness, and broad availability for food production.
Production Methods and Functional Roles
Chemical modification of starch is expected to capture 66.9% of the market share in 2024. This method improves starch properties, making it ideal for diverse industrial applications, including pharmaceuticals, cosmetics, and food processing. The thickener segment, with a 45.2% market share, continues to play a pivotal role in providing desired texture and consistency in food products.
Geographic and Industry Insights
North America is expected to retain the largest share of 38.1% in 2024, driven by its established food and beverage industry and rising consumer demand for natural and sustainable ingredients. The food and beverage sector is anticipated to hold 50.8% of the market in 2024, as the demand for ready-to-eat and processed foods continues to grow, driven by the convenience and functionality offered by modified starch.
Conclusion
The modified starch market is poised for steady growth, driven by the increasing demand for processed and convenience foods, technological advancements, and expanding opportunities in emerging regions. Despite challenges such as regulatory barriers and rising raw material costs, market players can leverage these growth opportunities to succeed in the evolving landscape.
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Key Players
The modified starch market is characterized by a moderately competitive scenario due to the presence of many large- and small-sized global, regional, and local players. The key players operating in the modified starch market are Cargill, Incorporated (U.S.), Ingredion Incorporated (U.S.), Archer-Daniels-Midland Company (U.S.), Roquette Frères (France), Tate & Lyle Plc (U.K.), AGRANA Beteiligungs-AG (Austria), Royal Avebe (Netherlands), Emsland-Stärke GmbH (Germany), Grain Processing Corporation (U.S.), Global Bio-chem Technology Group Company Limited (China), Asia Fructose Co., Ltd. (Thailand), Angel Starch and Foods Pvt. Ltd. (India), SMS Corporation Co., Ltd. (Thailand), Royal Ingredients Group B.V. (Netherlands), and SPAC Starch Products Ltd. (India) Private Limited (India).
Key Questions Answered in the Report:
- What is the current revenue generated from the modified starch market?
- At what rate is the global demand for modified starch projected to grow for the next 5-7 years?
- What is the historical market size and growth rate for the modified starch market?
- What are the major factors impacting the growth of this market at global and regional levels?
- What are the major opportunities for existing players and new entrants in the market?
- Which product type, raw material, production method, function, form, and end-use industry segments are expected to create major traction for the manufacturers in this market?
- What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the modified starch market?
- Who are the major players in the modified starch market? What are their specific product offerings in this market?
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