Starch Derivatives Market by Type (Glucose Syrup, Modified Starch, Maltodextrin, Hydrolysates, Cyclodextrin), Source, Form (Dry, Liquid), Application (Food & Beverage, Industrial, Feed), Functionality and Region - Global Forecast to 2028
Northbrook, IL 60062 -- (SBWIRE) -- 11/15/2023 -- According to a recent research report by MarketsandMarkets, the Starch Derivatives Market is poised to reach USD 68.4 billion by 2028, experiencing a CAGR of 3.4% from USD 57.9 billion in 2023. This growth is attributed to increasing demand for processed foods, pharmaceuticals, and sustainable ingredients, coupled with innovations in starch-based products and applications.
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Driving Factors: The market is driven by rising demand for processed and convenience foods, as well as eco-friendly packaging. The industry is actively promoting sustainable sourcing practices, responsible supply chain management, and eco-friendly production.
Clean-Label Trend: Clean-label starch derivatives, with fewer additives and more natural formulations, are gaining traction, meeting the demand for transparency in consumer choices.
Health and Wellness: Starch derivatives play a crucial role in responding to health and wellness trends by reducing fat and sugar content in processed foods.
Innovative Packaging: Adoption of 3D printing for innovative packaging using starch-based biodegradable materials is a significant development aligning with sustainability goals.
Regional Growth: The Asia-Pacific region is experiencing significant growth, driven by the increasing preference for gluten-free and reduced-calorie products. Health-conscious consumers seeking better dietary choices contribute to the substantial growth of the starch derivatives market in this region.
Corn Dominance: Corn is the leading source for starch derivatives, offering high starch content and aligning with clean-label consumer preferences. The United States is witnessing a surge in demand for non-GMO corn varieties, solidifying corn's position as the favored source for starch derivatives.
Key Market Players: Major players in the starch derivatives market include Cargill, Incorporated, ADM, Tate & Lyle PLC, Ingredion Incorporated, AGRANA Beteiligungs-AG, Roquette Freres, Green Processing Corp. (GPC), Avebe, Emsland Group, Foodchem International Corporation, Sukhjit Starch & Chemicals Ltd., Universal Starch Chem Allied Ltd, Primient, SPAC Starch Products Private Limited, and JP&SB International.
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Asia Pacific Dominance:
Asia Pacific dominates the starch derivatives market due to significant market players, a large and growing population, and government support fostering innovation and market expansion. The region's prominence is further strengthened by being a hub for starch-rich crop cultivation, ensuring a consistent and cost-effective supply of raw materials.
In conclusion, the starch derivatives market is experiencing substantial growth driven by diverse factors, including consumer preferences, sustainability goals, and technological innovations.
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