May 23, 2024

Starch Derivatives Market is Poised for Stable Growth Amid Rising Demand from Key End-use Industries

These ingredients have numerous applications in industries such as food and beverage, paper manufacturing, textile and others due to their thickening and binding properties. In the food industry, they are widely used as stabilizers, thickeners and emulsifiers. The increasing consumption of convenience and packaged food by consumers globally has been a major driving factor for the growth of the starch derivatives market.

The Global starch derivatives market is estimated to be valued at US$ 76.73 Bn in 2024 and is expected to exhibit a CAGR of 3.5% over the forecast period.

Key Takeaways

Key players: Key players operating in the starch derivatives are Cargill, Incorporated , ADM , Tate & Lyle PLC , Roquette freres , AGRANA Beteiligungs-AG , Ingredion Incorporated. These companies account for a significant share of the global market.

Growing demand: The growing demand for convenience and packaged foods has been a key driver for the market. Starch derivatives are widely used as thickeners, emulsifiers and stabilizers in food products.

Global expansion: Leading manufacturers are expanding their production capacities globally especially in Asia Pacific and Middle East & Africa to leverage the growing demand.

Market key trends

Innovation in applications: Manufacturers are focusing on developing innovative applications of Starch Derivatives Market Size in industries such as pharmaceuticals and personal care. This is expected to support the market growth over the forecast period. The increasing demand for natural and clean label ingredients across industries will also favor market trends.

Porter’s Analysis
Threat of new entrants: The starch derivatives market requires high R&D investments and has well established players operating at high economies of scale making the threat of new entrants medium.

Bargaining power of buyers: There exist numerous buyers for starch derivatives with very less bargaining power due to an availability of a wide range of applications for modified starches.

Bargaining power of suppliers: Major raw material i.e. starch is sourced from cereals and tubers. The availability of raw materials and existence of substitute suppliers keeps the bargaining power of suppliers medium.

Threat of new substitutes: There exists a medium threat of new substitutes due to continuous advancements in research for new ingredients that can replace modified starches in certain applications.

Competitive rivalry: The modified starch market has a number of global players operating at huge capacities where the competitive rivalry is high.

Geographical Regions

North America accounts for the largest market share in the starch derivatives market in terms of value followed by Europe. This is attributed to increased demand for convenience foods and beverages where starch derivatives are used as stabilizers, thickeners and binders. South and East Asia is identified as the fastest growing region owing to growth in the processed food industry in countries like China and India. Factors such as population growth, increasing urbanization and rising disposable incomes are expected to drive market growth in the Asia Pacific region over the forecast period.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it