Modified Starch Market to Reach US$ 18.5 Bn by 2030; Demand from End-use Industries to be Hit Due to Covid-19 Pandemic Spread
Published On : May 11, 2020
Modified starch is used in numerous food products, as their functional properties are much more enhanced and improved when compared to using native starch. Many physical modification processes such as heat-moisture treatment and annealing cause the physical modification of starch without damaging or gelatinizing starch granules. Also, these don’t affect birefringence, sizes, and shapes. Modified starch is used in the food industry as a fat replacer, texture improver, and for flavor encapsulation. This widespread use is expected to boost the global modified starch market through 2030.
The global modified starch market has witnessed substantial growth over the past few years, and this growth is anticipated to continue in the foreseeable future, at a CAGR of nearly 5% over the forecast period of 2020-2030.
Strong worldwide distresses about the coronavirus pandemic has largely, but negatively, influenced the global operations of the food & beverage industry. Also, on the trade and industry front, although the prices of modified starch have remained stable, a prolonged outbreak of COVID-19 will lead to economic uncertainty and rise in prices of food ingredients. While the short-term impacts are more evident, it is yet to be seen what degree of impact the outbreak will have on the supply chain in the long term.
Key Takeaways from Modified Starch Market Study
- There is increasing inclination of food and beverage manufacturers toward plant-based, nutritionally-rich, and healthy ingredients, to offer healthy products to consumers. This factor is expected boost the demand for modified starch in the global market.
- Increasing industrial usage of modified starch, especially in animal feed, paper, chemicals, and pharmaceuticals, is expected to fuel the growth of the global modified starch market during the forecast period.
- By source, the maize/corn segment is expected hold the highest share in the global modified starch market over the forecast period of 2020-2030, followed by the wheat segment.
- South Asia Pacific and the Middle East & Africa are expected to register significant growth in the global modified starch market.
- North America is expected to hold the highest share in the global modified starch market, followed by Europe.
“Modified starch is mainly used in food and beverages, animal feed, paper, and pharmaceuticals. Key players in the global modified starch market could increase their profits by targeting animal feed and pharmaceutical manufacturers. The COVID-19 pandemic has already impacted the food and beverage and agriculture industry, due to production and supply chain disruptions, and thus, manufacturers of modified starch too have to restructure their business strategies to increase their revenue. The market is expected see a recovery from the impact in third and fourth quarters of 2020,” says a PMR analyst.
Global Modified Starch Market: Competitive Landscape
Some of the key players included in the modified starch market report are Cargill, Incorporated, Archer Daniels Midland Company, Roquette Frères Company, Ingredion Incorporated, Tate & Lyle PLC. Agrana Group, and others. Modified starch manufacturers are following the strategy of alliances or partnerships with regional food manufacturers. Also, key players are focused on providing gluten-free, low-fat, non-GMO modified starch to the food and beverage industry. Besides, manufacturers are providing customized modified starch to different industries according to their requirements, which is expected to fuel the growth of the global modified starch market. They are focusing on developing and providing products with high nutrition content, as well as good taste and texture.
Explore More Valuable Insights on Modified Starch Market
Persistence Market Research, in its new report, offers an impartial analysis of the global modified starch market, presenting historical data (2015-2019) and estimation statistics for the period of 2020-2030. The study offers compelling insights on the modified starch market based on source (maize/corn, wheat, potatoes, tapioca, and rice), product (acetylated starch, physically modified starch, and enzyme modified starch), and application (food and beverages, animal feed, cosmetics and personal care, papermaking, textiles, pharmaceuticals, and others), across seven regions.
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Modified Starch Market
Global Market Study on Modified Starch: Rapidly Increasing Demand for Processed Food Leading to Market Surge
Global Market Study on Modified Starch: Rapidly Increasing Demand for Processed Food Leading to Market SurgeRequest TOC