Market Snapshot: Modified Starch Growth
Meticulous Research® recently released a report titled ‘Modified Starch Market Size, Share, Forecast, Trends Analysis by Product Type, Raw Material, Production Method, Function, Form, End-use Industry - Global Forecast to 2031’, projecting the market to reach $17.98 billion by 2031, growing at a 4.1% CAGR from 2024 to 2031.
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Key Growth Drivers
Key factors contributing to the growth of the modified starch market include the increasing demand for processed foods, the expanding use of modified starch due to its functional properties, and investments in starch production technology. Additionally, the growing preference for bio-based products supports market expansion.
Challenges Limiting Market Growth
The market faces limitations such as high costs and limited sources for natural additives. Furthermore, the rising preference for alternatives like gum arabic poses a challenge to the growth of the modified starch market, particularly in the food sector.
Opportunities in Emerging Markets
Emerging economies, particularly in Latin America, Asia-Pacific, and the Middle East Africa, offer growth opportunities due to the increasing adoption of starch-based bioplastics. These regions are set to see significant market expansion in the coming years.
Market Challenges
Despite opportunities, the market is challenged by stringent regulations regarding product approvals and increasing costs of raw materials, which can deter new entrants and reduce profitability for existing players.
Product Type Leadership
The acetylated distarch adipate segment is expected to dominate the market with a 28.8% share in 2024, due to its functional versatility in the food beverage sector, where it is commonly used as a stabilizer and thickener.
Corn's Dominance in Raw Materials
Corn is projected to account for 47.8% of the raw material segment in 2024, driven by its versatility, availability, and cost-efficiency, making it the most popular choice for modified starch production.
Chemical Modification: A Preferred Method
The chemical modification segment will likely hold the largest share of 66.9% in 2024. This method enables the customization of starch properties for specific industrial applications, such as food, pharmaceuticals, and personal care products.
Functions and Form Factors
The thickener function is anticipated to lead the market, with a 45.2% share by 2024, due to its widespread use in the food industry. The dry/powder form is expected to hold 64.5% of the market, favored for its ease of handling and longer shelf life.
Food Beverage Industry
The food beverage segment is expected to account for the largest share of 50.8% in 2024, driven by the increasing demand for convenience foods, ready-to-eat meals, and functional ingredients.
Regional Analysis: North America
North America is predicted to maintain its leadership in the global modified starch market, with a 38.1% share by 2024. The region benefits from a strong food industry and a growing trend towards natural and sustainable ingredients.
Conclusion
In conclusion, while the modified starch market faces challenges such as regulatory barriers and rising raw material costs, its growth prospects remain strong, particularly in emerging regions. The continued demand for starch in various industrial applications ensures a positive outlook for the industry.
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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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