The global modified starch market is projected to reach US$12.14 billion by 2022 in terms of value, at a CAGR of 4.1% from 2017, according to a report published by Markets and Markets.
Food & beverages segment projected to be the largest segment in 2017
The food & beverages segment, by application, is estimated to be the largest market share in the modified starch market in 2017, due to growth in application of modified starches to obtain varied functional properties in food products such as confectioneries, beverages, and processed foods. Modified starches have been developed to expand the usefulness of starches and their functional applications such as fat replacers, texture improvers, nutritional claims, high shear, temperature stability, and for flavored oil applications in the food & beverages industry as these applications are increasingly gaining importance. With the increasing per capita income, consumers demand an additional varied set of food products, and in turn influence the demand for modified starches.
Thickeners segment projected to be the largest segment in 2017
The thickeners segment, by function, is estimated to hold the largest share in the modified starch market, in terms of value, in 2017. As texture is of prime importance for consumers’ acceptability of food products, starch is extensively used as a thickener in food products. To increase the performance of starch and to respond to the needs of customers, giving other better-quality functionalities or performances such as more stable thickness with the variations of temperature, hot fluidity, and better stability & solubility with cold water is a significant driver for the growth of the thickeners segment.
North America estimated to be the most lucrative market for modified starch
In 2017, the North American region is estimated to hold a significant share in the global modified starch market. The major drivers for this significant share of North American region are increasing consumer expectations for innovation and convenience. North America is completely driven by the U.S. market, especially by the corn starch due to its low price. Being at the center of the bioethanol policy, which has siphoned much of the available corn for ethanol production, the U.S. has influenced the global supply chain of corn for starch extraction and the resultant price trends.
Corn: The most widely preferred type of raw material in modified starch
The corn segment, by raw material, is estimated to be the largest market share in the modified starch market in 2017, due to its wide range of applications in the food & beverage industry. Corn starch has all the functionalities which suit food products, its easy processibility makes it highly desired in the non-food segment, owing to which it holds a large market share in industrial applications.
The modified starch market report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It includes the profiles of leading companies such as Cargill (U.S.), Ingredion Incorporated (U.S.), Archer Daniels Midland Company (U.S.), Tate & Lyle Plc. (U.K.), and Roquette Frères (U.S.).