Meticulous Research®, a prominent market research organization, has published a report titled ‘Modified Starch Market Size, Share, Forecast, & Trends Analysis by Product Type (including Acetylated Distarch Adipate, Dextrin, Maltodextrin), Raw Material (Corn, Cassava), Production Method (Chemical), Function, Form, End-use Industry - Global Forecast to 2031.’ This research forecasts that the modified starch market will reach an impressive $17.98 billion by 2031, growing at a CAGR of 4.1% from 2024 to 2031.
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Market Growth Drivers
The modified starch market is experiencing growth due to several factors, including a rising demand for convenience and processed foods. Additionally, the expanding functional properties and applications of modified starch, increased investments in the starch sector, and a growing demand for bio-based products are significant contributors to this growth. Technological advancements in starch modification equipment and a rapidly growing bakery sector further bolster this expansion. However, challenges like the limited sources and high costs of natural additives, coupled with a strong preference for gum arabic, may hinder growth.
Emerging Opportunities and Challenges
The increasing demand for starch-based bioplastics and the rise of emerging economies in Latin America, Asia-Pacific, and the Middle East & Africa offer promising opportunities for market growth. Conversely, the market faces challenges, such as stringent regulatory processes for modified starch product approvals and rising raw material costs.
Segmentation of the Modified Starch Market
The modified starch market is segmented in detail by product type, raw material, production method, function, form, end-use industry, and geography, providing a comprehensive understanding of market dynamics.
Product Type Overview
Within the product type segment, modified starch includes acetylated distarch adipate, maltodextrin, and others. It is anticipated that acetylated distarch adipate will hold the largest share of 28.8% in 2024, largely due to its extensive application in the food and beverage industry.
Insights into Raw Materials
The segmentation by raw materials indicates that corn is expected to capture a market share of 47.8% in 2024, driven by its versatility and wide-ranging applications in the food and beverage sectors.
Production Methods Analysis
The market is also segmented by production methods, with chemical modification projected to dominate with a significant share of 66.9% in 2024, facilitating the production of a wide array of starch products.
Functionality of Modified Starch
Regarding functionality, the thickener segment is expected to represent 45.2% of the market in 2024, showcasing the critical role of modified starch in enhancing texture and consistency in food formulations.
Product Form Preferences
Analyzing product forms, the dry/powder segment is expected to hold a substantial market share of 64.5% in 2024, primarily due to its advantages over liquid forms in terms of stability and usability.
End-Use Industry Trends
The end-use industry segmentation highlights that the food and beverage sector is set to dominate with a projected 50.8% market share in 2024, driven by the diverse applications of modified starches.
Geographic Market Analysis
This research also provides insights into major geographic regions such as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America is projected to account for 38.1% of the market share in 2024, bolstered by a strong food and beverage industry and increasing demand for sustainable ingredients.
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Key Players
The modified starch market is characterized by a moderately competitive scenario due to the presence of many large- and small-sized global, regional, and local players. The key players operating in the modified starch market are Cargill, Incorporated (U.S.), Ingredion Incorporated (U.S.), Archer-Daniels-Midland Company (U.S.), Roquette Frères (France), Tate & Lyle Plc (U.K.), AGRANA Beteiligungs-AG (Austria), Royal Avebe (Netherlands), Emsland-Stärke GmbH (Germany), Grain Processing Corporation (U.S.), Global Bio-chem Technology Group Company Limited (China), Asia Fructose Co., Ltd. (Thailand), Angel Starch and Foods Pvt. Ltd. (India), SMS Corporation Co., Ltd. (Thailand), Royal Ingredients Group B.V. (Netherlands), and SPAC Starch Products Ltd. (India) Private Limited (India).
Key Questions Answered in the Report:
- What is the current revenue generated from the modified starch market?
- At what rate is the global demand for modified starch projected to grow for the next 5-7 years?
- What is the historical market size and growth rate for the modified starch market?
- What are the major factors impacting the growth of this market at global and regional levels?
- What are the major opportunities for existing players and new entrants in the market?
- Which product type, raw material, production method, function, form, and end-use industry segments are expected to create major traction for the manufacturers in this market?
- What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the modified starch market?
- Who are the major players in the modified starch market? What are their specific product offerings in this market?
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