CHICAGO, Nov. 12, 2023 /PRNewswire/ -- The Starch Derivatives Market is projected to reach USD 68.4 billion by 2028 from USD 57.9 billion by 2023, at a CAGR of 3.4% from 2023 to 2028 according to a report published by MarketsandMarkets. The starch derivatives market is experiencing growth due to increasing demand for processed foods, pharmaceuticals, and sustainable ingredients, coupled with innovations in starch-based products and applications.
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The starch derivatives market is expanding due to increased demand for convenience, ready-to-eat foods, and eco-friendly packaging.
The industry is actively promoting sustainable sourcing practices, emphasizing responsible supply chain management, and eco-friendly production. These efforts meet the growing preference for environmentally conscious products among consumers. Clean-label starch derivatives have emerged as a compelling trend within the market. These cleaner and more naturally formulated products, with fewer additives, address the increasing demand for transparency in consumer choices. Furthermore, starch derivatives are pivotal in responding to the health and wellness trend. They are effectively utilized to reduce fat and sugar content in processed foods, catering to health-conscious consumers. The adoption of 3D printing for innovative packaging using starch-based biodegradable materials represents a significant paradigm shift. This pioneering technology not only aligns with sustainability goals but also offers fresh possibilities for enhancing packaging aesthetics in the food and beverage sector.
The Asia-Pacific region is experiencing a significant upswing, driven by the increasing preference for gluten-free and reduced-calorie products. Post-COVID, heightened health consciousness among consumers has become a prominent trend. Starch derivatives play a pivotal role in meeting this demand by offering textural and functional benefits in healthier food options. As health-conscious consumers seek better dietary choices, the Asia-Pacific starch derivatives market is poised for substantial growth.
In starch derivatives, corn takes the lead, offering high starch content and clean-label consumer preference.
Corn is a widely cultivated crop in various regions, ensuring a consistent and substantial source of starch. The grain's starch content is higher than many other sources, making it an efficient raw material for starch extraction. Additionally, the corn-derived starch can be processed into a wide range of derivatives, including glucose syrup, maltodextrin, and high-fructose corn syrup, each finding extensive use in food, beverage, and industrial applications. The United States is witnessing a surge in demand for corn due to the availability of non-GMO (non-genetically modified organism) corn varieties. This is in line with the preferences of consumers who are increasingly seeking non-GMO and clean-label products. As a result, corn has become a favored source for starch derivatives in the region, catering to the growing consumer demand for more natural and transparent food choices. Furthermore, the cost-effectiveness of corn-based derivatives and the development of advanced processing technologies have solidified its position as the leading source in the starch derivatives market.
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Asia Pacific dominated the starch derivatives market during the study period.
The dominance of the Asia Pacific region in the starch derivatives market during the study period can be attributed to several key factors. The presence of significant market players like Sukhjit Starch & Chemicals Ltd.(India), Foodchem International Corporation (China), Malindra Group (Australia), SPAC Starch and Products Pvt Ltd(India), and Universal Starch Chem Allied (India) contributes to the region's prominence. These companies play pivotal roles in production, innovation, and distribution, enhancing the market's growth.
Furthermore, Asia Pacific's dominance is reinforced by its large and growing population, which fuels the demand for processed foods and pharmaceuticals, where starch derivatives are key components. The region is also a hub for starch-rich crop cultivation, ensuring a consistent and cost-effective supply of raw materials. Government support, investments in research and development, and favorable economic conditions have fostered innovation and market expansion in the starch derivatives sector. These factors collectively established Asia Pacific as the leader in this industry during the study period.
Key players in this market include Cargill, Incorporated (US), ADM (US), Tate & Lyle PLC (UK), Ingredion Incorporated (US), AGRANA Beteiligungs-AG (Austria), Roquette Freres (France), Green Processing Corp. (GPC) France, Avebe (Netherlands), Emsland Group (Germany), Foodchem International Corporation (China), Sukhjit Starch & Chemicals Ltd. (India), Universal Starch Chem Allied Ltd (India), Primient (US), SPAC Starch Products (India) Private Limited (India), JP&SB International (Spain).
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