Modified starch market revenues are likely to reach approximately US$10 billion by end 2019, according to the Modified Starch Market report by Future Market Insights. Compared to developed regions, the sales value of modified starch is expected to be higher in countries of developing regions, including Asia-Pacific and Middle East and Africa, with estimated market shares of about 20% and 10% respectively, towards the end of next decade.
The study further revealed that growing demand for low-fat and fat-free diary products from consumers around the world reflects a “massive” opportunity for modified starch manufacturers. The study opines that the increasing health awareness and growing demand for healthy and nutrient-rich food products denote the prominent factors directly impacting the modified starch market.
Key takeaways from Modified Starch Market
- The declining demand for synthetic ingredients in food and beverage industry is directly benefiting the sales of natural ingredients in food products
- Maize/corn has long remained the preferred source or primary ingredient for traditional modified starch, and continues to capture substantial share in the modified starch market.
- The market for modified starch is mainly driven by increasing consumption of processed food products by consumers owing to increasing working professionals
- Visible increase in adoption of westernised dietary lifestyles across developing regions has been creating opportunities for modified starch manufacturers in the global market.
- Multiple applications of modified starch in different industries such as food, textile, paper making, and cosmetics and personal care, pharmaceuticals and animal feed are fueling its market growth.
- Increasing consumption of diverse food and beverage products, including bakery, dairy, meat, and poultry products in developing economies and economies in transition is fueling the global modified starch market.
- The demand for physically modified starch and enzyme modified starch will contonue to represent healthy CAGRs by end of 2019.
A study analyst analysed that as the preference for natural ingredients is increasing among consumers, it is expected to benefit the sales of products, such as modified starch. Furthermore, manufacturers of modified starch are intensifying their strategic focus on promotional activities to leverage the health benefits associated with naturally modified starch, to attract a wider consumer base.
The key players in the modified starch market include Cargill, Incorporated, Archer Daniels Midland Company, Roquette Frères Company, Ingredion Incorporated, Tate & Lyle, Agrana Group, Emsland Group, KMC Kartoffelmelcentralen, Avebe, BENEO and many more. Manufacturers prioritise “natural and ‘gluten-free’” aspects to ensure higher product quality and nutritional benefits to consumers with the strategy of grasping the outsized segment of consumers.
The modified starch market is still at its infancy, with plenty of room for improvements. Various sources for modified starch are likely to hit shelves in the near future, such as growing demand for rice as a source of modified starch is trending. Along with that, growing international fast food restaurant chains around the world generate opportunity for modified starch manufacturers in the global market.
These insights are based on a report on Modified Starch Market by Future Market Insights.