Industrial Starch Market is projected to reach US$ 98.43 Billion by 2028 from US$ 67.35 Billion in 2022. It is estimated to grow at a CAGR of 5.5% from 2022 to 2028. In-depth market segmentation, deep dive regional and country level analysis of 18+ countries across 5 key regions, key company profiles and industry landscape to provide latest market initiatives and competitive landscape, impact of COVID-19 pandemic on ecosystem.
New York, Aug. 04, 2022 (GLOBE NEWSWIRE) -- According to our new research study on Industrial Starch Market to 2028 – COVID-19 Impact and Global Analysis – by Type (Native Starch and Starch Derivatives & Sweeteners), Source (Wheat, Corn, Potato, Cassava, and Others), Application (Food & Beverages, Pulp & Paper, Animal Feed, Pharmaceuticals, and Others)," includes the factors governing the market growth, revenue estimation and forecast, and market share analysis. It also entails the identification of significant market players and their key developments. Starch is a crucial part of adhesive formulations and is used in various industrial applications. Industrial starch is derived from different natural sources such as wheat, tapioca, rice, potato, and maize. Among wheat, maize and potato are the most used industrial starches. Starch is used in manufacturing various products in the food industry, such as confectionaries, bakery products, canned jams and fruits, commercial monosodium glutamate (MSG), and caramel.
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Industrial Starch Market - Strategic Insights
No. of Charts & Figures
North America; Europe; Asia Pacific; Latin America; MEA
US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Industrial Starch Market: Competition Landscape and Key Developments
Agrana Beteiligungs-AG; ADM; Ingredion Incorporated; Roquette Frères; Tereos Group; Cargill, Incorporated; Tate & Lyle PLC; Grain Processing Corporation; Royal Cosun; and AVEBE are among the leading players in the industrial starch market. These companies are adopting strategies such as mergers and acquisitions and product launches to expand their geographic presence and clientele.
The industrial starch market is segmented into five main regions
North America, Europe, Asia-Pacific (APAC), the Middle East & Africa (MEA), and South & Central America (SCAM). In 2021, Asia Pacific dominated the global market.
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Apart from the food industry, industrial starch is also used in non-food industries such as paper, mining, textile, building materials, and consumer products. Growing demand from the packaging industry is propelling the industrial starch market growth. Industrial starch is widely used in the packaging industry with a polylactic acid made using sugar, usually, from cornstarch, that helps maintain plastic consistency. Plastics made up of starch are biodegradable, recyclable, environment-friendly, and compostable. Along with the growth of the e-commerce industry, the packaging industry is adopting biodegradable and eco-friendly materials. For instance, Indian e-commerce companies such as Flipkart and Myntra eliminated 100% single-use plastic packaging. Starch-based bioplastic films provide various advantages such as high resistance to moisture transfer from the food to the atmosphere, minimum environmental impact compared to the traditional plastic films, and widely used thermoplastic starch is expected to increase demand for industrial starch.
Based on type, the industrial starch market is segmented into native starch and starch derivatives & sweeteners. In 2021, the starch derivatives & sweeteners segment dominated the market. Furthermore, the market for this segment is expected to grow at a faster CAGR during the forecast period. Starch derivatives possess improved functional properties, which are suitable for various food and non-food applications. Starch derivatives and sweeteners have various functions; they are used as thickeners, fat replacers, texture agents, and emulsifiers. Starch derivatives and sweeteners give the essential taste to the food products because of their characteristic of water absorbing and bulking up.
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The food & beverages industry faced unprecedented challenges due to the COVID-19 pandemic. The shortage of raw materials and manpower, a shutdown of factories, and other operational difficulties associated with COVID-19 safety protocols adversely affected the industrial starch market. The lockdown measures heavily impacted industrial starch's supply and production. As the food & beverage industry is susceptible to economic cycles, producers and workers were particularly exposed to the consequences of a sharp drop in economic activity amid the pandemic.
Food and beverage production operations were deemed necessary in several countries; however, production sites were completely or partially shut down in other nations as part of containment efforts. However, the pharmaceutical industry assisted the industrial starch market to thrive during the COVID-19 pandemic. In the pharmaceutical industry, starch is used as a binder and disintegrant. Additionally, the successful implementation of mass vaccination drives in 2021 resulted in increased business activities. With economies reviving their operations, the demand for industrial starch started rising globally in the coming years as key industrial starch manufacturers resumed their operations and restored their normal production capacities.
The industrial starch market, based on geography, is segmented into North America, Europe, Asia Pacific (APAC), South and Central America (SAM), and the Middle East and Africa (MEA). In 2021, Asia Pacific dominated the market. The growth of various end-use industries in Asia Pacific is driving the growth of the industrial starch market in this region. The food & beverage industry strongly contributes to the market growth in Asia Pacific. Increasing urbanization, government and private initiative to increase the use of renewable packaging materials, and consumer spending are the factors that collectively impact the growth of Asia Pacific economies, which are driving the growth of the industrial starch market.
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Impact of COVID-19 Pandemic on Industrial Starch Market Size
The COVID-19 pandemic adversely affected the market in 2020 due to the shutdown of manufacturing facilities and restrictions on transportation and logistics. Disruptions in supply chains also hampered the supply of industrial starch. Manufacturers introduce extensive modifications to their processes to comply with national and regional guidelines to protect employees from the COVID-19 infection. Many global manufacturers temporarily paused their operations or allowed production processes with limited employee strength. Despite these consequences, businesses started recovering as various countries' governments' relaxed social restrictions. Additionally, the successful implementation of mass vaccination drives in 2021 resulted in increased business activities. With economies reviving their operations, the demand for industrial starch started rising globally in the coming years as key industrial starch manufacturers resumed their operations and restored their normal production capacities
The "Industrial Starch Market Analysis to 2028" is a specialized and in-depth study of the food and beverages industry, focusing on the market trend analysis. The report aims to provide an overview of the market with detailed segmentation. The industrial starch market is segmented on the basis of type, source, application, and geography. Based on type, the industrial starch market is segmented into native starch and starch derivatives & sweeteners. Based on source, the industrial starch market is segmented into wheat, corn, potato, cassava, and others. Based on application, the industrial starch market is segmented into food & beverages, pulp & paper, animal feed, pharmaceuticals, and others. Based on geography, the industrial starch market is segmented into five main regions—North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. In 2021, Asia Pacific dominated the industrial starch market. However, North America is expected to register the highest CAGR in the market during the forecast period.
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