The modified starches market will be exhibiting a dynamic growth trajectory between 2020 and 2030, thriving at a rate of 4.22%, reveals MRFR (Market Research Future).
Major Boosters and Barriers
Mounting preference for convenience food products paired with the dramatic expansion rate of the pharmaceutical sector, particularly in Asia Pacific, will be a key growth rendering factor for the modified starch market. Plus, the global market is extremely competitive, largely inundated by a huge number of renowned firms concentrated in Europe, along with Asia Pacific as well as North America.
The modified starch market in the United States is thriving at a stunning pace, given the country’s position as one of the highest starch producers and consumers in the world. The demand for modified starch is strong among a diverse range of end-use sectors, including pharmaceuticals, animal feed, food beverage, paper, oil and drilling, and textiles. The major applications in these sectors include adhesives, biodegradable polymers, and coatings. Growing concern regarding health and nutrition along with changing preference towards healthy appetite is also likely to be a major factor driving the market. Additionally, the abundant production of corn and maize in the country, which are the raw materials used for developing modified starch further accelerates the business growth.
Small-scale and mid-sized mill owners worldwide play a significant part in the overall market growth, given the surging number of alliances between them and the bigger sized manufacturers. Experts note that majority of the well-established firms in the modified starches market largely focus on extensive research and development activities, deploying modern technologies during processing to enhance their product’s properties and quality.
Modified starches are primarily sourced from wheat, corn, potato, cassava, and many others. Corn is the top source for modified starch, given its high preference across the world due to its position as a staple food in several nations. Corn finds widespread use as a thickening agent in various food products like soups as well as liquid-based products like gravies, custards, and sauces.
Modified starch is generally sold in various forms, namely liquid, gel, as well as powder.
Applications of modified starch are food beverages along with non-food application. The food applications of modified starch include beverages, confectionery, processed food, and others. The non-food applications include corrugation and papermaking, personal care products, pharmaceuticals, textiles, and others, which are mining drilling, construction building, adhesives, animal feed, coupled with chemicals.
Asia Pacific governs the highest portion of the global market, thanks to the abundance of various plant sources present in the region required to develop modified starches. The extensive cultivation and consumption of starchy plants to develop that helps produce modified starches further elevates the market position. Plus, lower priced raw materials, relatively lax environmental policies and low manufacturing costs prove to be attractive opportunities for the affluent vendors in the region. Another growth promoting factor can be the heightened consumption of packaged food products in various emerging countries.
North America would procure a growth rate of 3.93% over the assessment period, on account of the flourishing packaged food sector and the soaring demand for various ingredients required to stabilize and preserve packaged food.
The prominent developers of modified starches in the global industry include Cargill, Incorporated (U.S.), Tate Lyle PLC (U.K.), Roquette Frères (France), Ingredion Incorporated (U.S.), Archer Daniels Midland Company (U.S.), Agrana Beteiligungs-AG (Austria), Grain Processing Corporation (U.S.), and more.
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Komline-Sanderson, a leading developer of equipment lines for environmental control, wastewater management, and various industrial applications, has acquired Fluid Quip Inc., a renowned manufacturer of equipment for use in corn wet-milling and several ethanol industries.
Corn wet-milling is a key process that makes use of water as well as specialized equipment for physically separating corn into starch, proteins, fiber, and oil, and is the primary segment for Komline. Fluid Quip’s acquisition will help Komline to substantially bolster its product offering in the corn wet milling space.
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