Additionally, plant-based products are being asked for due to increasing awareness regarding animal welfare. Veganism is already the talk of the world at large. This factor is also bound to bolster the potato starch market in the upcoming period. It’s interesting to know that potato is being extensively used for developing plant-based meat alternatives.
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How is the potato starch market categorized?
Potato starch market, by type of product, spans native and modified. Nature-wise, it’s conventional and organic. By end use, it’s food (dairy & desserts, bakery, soups, sauces and dressings, fish & meat, savory & snacks, confectionery, pet food, and likewise), pharmaceuticals, and industrial. Initially, modified starch was preferred owing to presence of amylose in higher proportion. However, of late, native variant (potato starch) is being asked for with growing inclination towards natural ingredients.
Region-wise Analysis
North America holds the highest market share due to food and beverage industry witnessing an increasing demand for potato starch. Also, the ongoing trend of plant-based and clean label products is there to put North America in a good stead. Functional foods are inclusive of healthy snacks that do use potato starch in the form of natural additive. Europe stands second on this count. The Asia-Pacific is expected to grow at the highest rate in the forecast period due to increasing popularity of ready-to-cook and ready-to-eat products all over. LATAM and MEA are also expected to pick up pace in the upcoming period.
The Competitive Zeal
The key players in the potato starch market include Cargill, Inc., Emsland Group, PEPEESS Group, Roquette, Ingredion, Inc., KMC a.m.b.a., CooperatieKoninklijkeCosun U.A., AGRANA Beteiligungs AG, Tereos, and Lodaat Pharma. Coming to developments, Ingredion Inc., in January 2019, did acquire Western Polymer Corporation (known for producing native and modified potato starches). Cargill Inc., in January 2018, entered into joint venture with “AKV LangholtAmbA” to collectively invest in its new-fangled potato starch plant located in Denmark. As such, the growing demand for native starches and clean label could be addressed.