According to the latest report from Reports and Data, the projected value of the global market for modified starch is anticipated to reach USD 17.38 Billion by 2030. The report suggests that the market will experience a compound annual growth rate (CAGR) of 3% during the forecast period. The increased adoption of modified starch as a thickener, texture agent, fat replacer, and emulsifier, coupled with substantial investments in Research Development (RD) activities within the industry, are key drivers contributing to the growth of revenue in the modified starch market.
Starch, which serves as a primary component of roots and cereal grains, finds applications in diverse industries such as food and beverages, paper, textiles, and others. Modified starch has been developed to address the undesirable properties associated with native starch. Moreover, it significantly impacts dough properties and the quality of bread. As the demand for processed food continues to rise, there is an increasing need for modified starch, which in turn is expected to fuel the growth of the market. Modified starch plays a significant role as an ingredient in the production of ready-to-eat and easy-to-cook food products. Its utilization in processed food products enhances their appearance and consistency, contributing to improved taste preservation and extended shelf life.
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Top Companies Operating in the Global Modified Starch Market Report:
Cargill, Incorporated, Ingredion, Tate Lyle, Roquette, Avebe, Grain Processing Corporation, SPAC Group, ANGEL Starch Food Pvt. Ltd., Universal Starch Chem Allied Ltd., and Beneo.
Some Key Highlights from the Report
- In July 2020, BENEO GmbH, a functional ingredients producer, expanded its operation by 50% production capacity at Wijgmaal facility, Belgium. The company will invest USD 56.4 million for the two stage expansion process to cater to rising customer demand for rice starch.
- Physical modification segment accounted for a significantly large revenue share in 2020. Physical modifications result in variation in particle size, solubility index, surface properties and functional properties such as swelling capacity, water absorption and gelation ability of starch. These modifications directly influence functional quality of modified starch for various nutritional, pharmaceutical, and industrial formulations.
- Food beverage segment accounted for largest revenue share in 2020 owing to increased usage of modified starch in the industry due to their functional properties. Modified starch are superior flavor carriers and can be a useful addition to instant beverage mixes. It helps to provide a slight amount of viscosity for mouthfeel in slushes, smoothies, coffees, and various drinks.
- Corn segment accounted for largest revenue share in 2020 owing to easy availability and high demand across the globe. Corn is a staple food and is preferred in diets of various countries. It is extensively used as a thickening agent in liquid-based foods such as gravies, custards, puddings, sauce, and soups. It is also used to make corn syrup and other sugars.
- Market in North America accounted for largest revenue share in 2020 owing to innovation and development of new products such as Octenyl Succinic Anhydride (OSA), which is a commonly used esterification agent for modifying starch. Diversified applications of such modified starch products are also propelling growth of the market. Increasing demand for processed, readymade and easy to cook food is further contributing to the growth of the market in this region.
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The global Modified Starch market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further market segmentation
Function Outlook (Revenue, USD Billion; 2018–2030)
- Thickeners
- Stabilizers
- Binders
- Emulsifiers
- Others
Modification Outlook (Revenue, USD Billion; 2018–2030)
- Physical Modification
- Hydrothermal
- Non-hydrothermal
- Chemical Modification
- Cationic Starch
- Etherified Starch
- Enzymatic Modification
Application Outlook (Revenue, USD Billion; 2018–2030)
- Food Beverage
- Processed Food
- Bakery Confectionery
- Fortified drinks
- Others
- Animal Feed
- Swine Feed
- Ruminant Feed
- Poultry Feed
- Others
- Industrial
- Papermaking
- Weaving Textile
- Medicines Pharmaceuticals
- Cosmetic
- Others
Raw Materials Outlook (Revenue, USD Billion; 2018–2030)
- Corn
- Cassava
- Potato
- Wheat
- Others
Form Outlook (Revenue, USD Billion; 2018–2030)
- Dry
- Liquid
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