Potato Starch Market by Type (Native, Modified), End-User (Food & Beverages, Feed, and Industrial), Nature (Conventional, Organic), and Region (North America, Europe, Asia Pacific, Rest of the World) - Global Forecast to 2027
Northbrook, IL 60062 -- (SBWIRE) -- 04/06/2023 -- The Potato Starch Market is predicted to grow from USD 4.3 billion in 2022 to USD 5.2 billion in 2027, at a Compound Annual Growth Rate (CAGR) of 3.7% during the forecast period.
The market is being driven by both macroeconomic and microeconomic factors in key countries. The trend of natural food ingredients and clean-label and plant-based products has increased the demand for potato derivatives in the food industry. Potato starch enhances the properties of smoothness, hardness, gloss, and whiteness as a binder.
North America is expected to reach USD 479.86 million during the forecast period, with the US market driving the North American potato starch industry. The US potato starch industry has seen technological advancements, leading to increased usage in various industries. In the US, potato starch is primarily used in canned soups and blends for its thickening power and fill viscosity. Ready-to-eat meals and processed food trends are also driving the potato starch market in the region.
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Europe dominates the potato starch market, with a value of USD 1.9 billion in 2021 and projected to reach USD 2.4 billion by 2027, at a CAGR of 3.7% during the forecast period. Europe is the leading producer of potato starch, exporting to all corners of the world. The European starch industry has a range of offerings, including native and modified (chemically and physically) and liquid and solid sweeteners. The versatility of potato starches enables their application as ingredients and functional supplements in the food, non-food, and feed industries.
The food industry is expected to experience the fastest growth in terms of end-use application industry, with the newer variations of modified starch and a range of applications.
The key players in the potato starch market are Tate & Lyle (UK), Emsland (Germany), Ingredion Incorporated (US), and Avebe (Netherlands).
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