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Industrial Starch Global Market Report 2023
Major players in the industrial starch market are Cargill Incorporated, Archer Daniels Midland Company, Grain Processing Corporation, The Tereos Group, Manildra Group, Everest Starch India Pvt Ltd., AGRANA Beteiligungs-AG, Ingredion Incorporated, Kent Nutrition Group Inc.
New York, March 08, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Industrial Starch Global Market Report 2023" - https://www.reportlinker.com/p06318583/?utm_source=GNW
, Altia PLC, Angel Starch and Food Pvt. Ltd., Japan Corn Starch Co. Ltd?, Karandikars Cashell Private Limited, and Bangkok Starch Industrial Co Ltd.
The global industrial starch market grew from $84.29 billion in 2022 to $92.14 billion in 2023 at a compound annual growth rate (CAGR) of 9.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The industrial starch market is expected to grow to $124.15 billion in 2027 at a CAGR of 7.7%.
The industrial starch market consists of sales of oil, gluten meal, and gluten feed .Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The industrial starch are used in food and non-food products.Starch is a polymeric carbohydrate that contains glucose units joined by glycosidic bonds.
Industrial starch is extracted from various natural sources such as rice, wheat, potato, maize, and tapioca.
North America was the largest region in the industrial stratch market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the industrial stratch market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of products in industrial starch are cationic starch, ethylated starch, oxidized starch, acid modified starch, and unmodified starch.The cationic industrial starch refers to the slurry of partially swollen granules of starch that are produced by treating with a reactive compound.
The various sources include corn, wheat, cassava, potato, others that are used in food, feed, paper industry, pharmaceutical industry, and other applications.
The rise of the pharmaceutical industry is expected to propel the growth of the industrial starch market.The pharmaceutical industry refers to the discovery, evolution, and manufacture of drugs and medications (pharmaceuticals) by public and private organizations.
Starches are being used in the pharmaceutical industry for numerous reasons, such as an excipient, a tablet and capsule diluent, a tablet and capsule disintegrant, a glidant, or a binder.For instance, according to the Indian Economic Survey 2021, India’s domestic pharmaceutical market reached USD 42 billion in 2021 and is expected to reach USD 65 billion by 2024 and would further expand to reach around USD120–130 billion by 2030.
Therefore, the rising pharmaceutical sector will drive the growth of the industrial starch market.
Product innovation is a key trend gaining popularity in the industrial starch market.Major companies operating in the industrial starch sector are focused on developing new product innovations to strengthen their position.
For instance, in March 2021, Ingredion Incorporated, a US-based food company, launched a new addition, ULTRA-TEX 1311, to its extensive range of potato-based solutions for the U.S. and Canada. ULTRA-TEX 1311 is a modified potato starch used in a large variety of traditional and alternative formulations for creating indulgent textures, improving stability vs. native potato starch, or replacing oil without sensory appeal. The starch is mainly ideal for plant-based, low-fat, reduced-fat, and keto-friendly applications.
In October 2020, Tate & Lyle, a UK-based provider of food and beverage ingredients, acquired an 85% stake in Chaodee Modified Starch Co., Ltd. for an undisclosed amount. The acquisition is expected to enable Tate & Lyle to offer a broader range of tapioca-based solutions to meet customers’ needs for better-tasting and clean-label foods. Chaodee Modified Starch Co., Ltd. is a Thailand-based starch manufacturer.
The countries covered in the industrial stratch market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The industrial starch market research report is one of a series of new reports that provides industrial starch market statistics, including industrial starch industry global market size, regional shares, competitors with a industrial starch market share, detailed industrial starch market segments, market trends and opportunities, and any further data you may need to thrive in the industrial starch industry. This industrial starch market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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