Modified Starches Market Size To Expand at a Notable CAGR Of 4.72% During 2023 - 2030

February, 2023/MRFR Press Release/- Market Research Future has published a report on the Global Modified Starches Market.

Overview:

Market Research Future (MRFR) projects the global modified starches market to exhibit a strong 4.72% CAGR over the forecast period from 2023 to 2030, according to a new report. The report provides detailed insights into the market’s growth prospects over the forecast period based on a study of the market’s historical growth trajectory over the review period. The major drivers and restraints affecting the global modified starches market are also profiled in detail in the report to understand the factors affecting the global modified starches market’s movement in a major way.

Modified starches are variants of natural starches that have been treated in some form to make them more productive in terms of their usage as a binder, additive, and stabilizer. The processes used to produce modified starches can be physical, enzymatic, or chemical in nature. The global modified starches market has been driven in recent years by the growing demand from the packaged food industry. Packaged food requires a number of additives to enhance its moisture retention, stability, and texture, with modified starches becoming a key product for the job. The easy usability of modified starches and effective function are likely to drive the global modified starches market over the forecast period. The growing urban demographic in emerging regions across the world is likely to drive the demand for packaged food over the forecast period, thus driving the demand for associated ingredients such as modified starches.

The growing use of modified starches in papermaking applications such as paperboard and corrugated cardboard is also likely to be a major driver for the global modified starches market over the forecast period. The increasing product quality parameters being set on the papermaking industry are likely to drive the demand from the global modified starches market over the forecast period.

Segmentation:

The global modified starches market is segmented on the basis of source, form, application, and region.

On the basis of the source of modified starches, the modified starches market is segmented into corn, wheat, cassava, potato, and other sources.

On the basis of form, the global modified starches market is segmented into powder, liquid and gel.

On basis of application, market is segmented into food & beverages and non-food application; food applications include confectionery, processed food, beverages, and others, whereas non-food applications of modified starches include corrugation and papermaking, personal care products, pharmaceuticals, textiles, and others such as mining & drilling, construction & building, adhesives, chemicals, and animal feed.Regional Analysis:

Asia Pacific is likely to dominate the global modified starches market over the forecast period, followed by North America and Europe. The easy availability of the plant sources of modified starches in Asia Pacific is a major driver for the regional modified starches market, as the widespread cultivation of starchy plants has led to smooth integration of the starch into the production of modified starches. Cheap raw material costs, low production costs, and relatively lax environmental regulations are likely to be some of the major drivers for the modified starches market in Asia Pacific over the forecast period. The growing demand for packaged food in emerging Asia Pacific countries is also likely to be a major driver for the global modified starches market over the forecast period.

North America also holds a dominant share in the global modified starches market and is likely to exhibit a robust 3.93% CAGR over the forecast period. The growing packaged food industry in North America is a major driver for the modified starches market in the region, as the demand for ingredients required to stabilize and preserve packaged food has grown proportionately with the packaged food industry and presents a significant scope for the modified starches market in the region.

Europe is expected to exhibit the highest growth rate in the global modified starches market over the forecast period, mainly due to the growing demand for modified starches from the growing papermaking industry in the region.

Competitive Analysis:

Leading players in the global modified starches market include Cargill Inc., Ingredion Inc., Agrana Beteiligungs AG, Roquette Freres, Grain Processing Corporation, Tate & Lyle plc, and Archer Daniels Midland Company.

Industry Updates:

In January 2019, researchers in India developed a biodegradable film from lotus stem starch, psyllium husk, and whey protein. While starch-based films are nothing new, the addition of psyllium husks and whey protein adds to the mechanical strength of the film and makes it practically viable.