Fior Markets launched a study titled “Global Modified Starch Market by Raw Material (Corn, Cassava, Potato, Wheat, Others), Function(Thickeners, Stabilizers, Others), Application, Modification Type, Region Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025.
The global modified starch market is expected to grow from USD 10.13 Billion in 2017 to USD 15.53 Billion by 2025 at a CAGR of 5.5% during the forecast period from 2018-2025. Increased spending on research & development activities to develop innovative products and rising demand of starch by pharmaceutical industry cosmetics, and paper industries are two key derivatives for the growth of the market.
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Corn segmentis dominating the market with the highest share of 39.70% in 2017
Raw material segment is divided into segments such as a corn, cassava, potato, wheat and others. Corn segment is dominating the market in 2017.Corn contains a high amount of content of starch as compared to other sources and is easily available which leads to an acceleration in the market growth. It is used as a thickener in sauces, processed food and beverages is driving the food sector market.
The thickeners segment valued around USD 3.63Billion in 2017
The function segment includes thickeners, stabilizers, binders, emulsifiers and others. The thickeners segment is dominating the market in 2017. As a thickening agent, modified starch strengthens the viscosity of a liquid without significantly changing its other properties.
The physical modification segment held the market share of45.60% in 2017
The modification type segment includes physical modification, chemical modification and resistant starch. The physical modification segment is dominating the modified starch market in 2017. Modification of starches is generally carried out by using physical methods because they are simple and inexpensive due to the absence of chemical agents.
Food & beverages segment held the market share of 47.90% in 2017
The application segment is classified into food & beverages, animal feed and industrial. The food & beverages segment is dominating in 2017. The food and beverage is expanding in terms of shares owing to the gluten-free nature of food products made from modified starch and less calorie content.
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Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. Asia Pacific held the largest market share of approximately42.30% in 2017.TheNorth America region is dominating due to the rising demand for modified starch in processed foods in countries like US and Canada.There are many well-established food processing industries in the North American region which are driving the market for modified starch.
The major players of market include Universal Starch Chem Allied, Ulrick and Short Ltd., Avebe U.A., Ingredion Inc., Penford Corp., Tate and Lyle Plc., Global Bio-Chem Technology Group Co. Ltd., Archer Daniels-Midland Co., KMC, China Essence Group Ltd., and Cargill Inc., among others
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