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The industrial starch market size is forecast to increase by USD 23.97 billion at a CAGR of 4.5% between 2023 and 2028.
The industrial starch industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
Industrial starch is a crucial component In the food and beverage industry, serving various functions such as thickening, binding, and stabilizing agents. Corn starch, potato starch, and tapioca starch are common sources of industrial starch, contributing to the texture and consistency of food products. In the beverage industry, starch plays a significant role in enhancing viscosity and preventing phase separation, thereby improving product quality and shelf life. Beyond food and beverages, industrial starches are also utilized in industries like paper, laundry, foundry, air flotation, adhesive, chemical, and textile, among others. The market for industrial starch encompasses various types, including waxy maize, modified starches, and native starch.
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The food and beverage segment was valued at USD 42.35 billion in 2018 and showed a gradual increase during the forecast period.
Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The North American market is expected to exhibit moderate growth during the forecast period. Key sources of industrial starch include corn, wheat, and potatoes. Native starch, derived from vegetable cells, seeds, tubers, and roots, is abundant In the region and drives market expansion. Industrial starch finds extensive applications in various industries, including cosmetics, packaging, and food and beverages. The food and beverage sector, specifically convenience foods, processed foods, and thickening agents, is a significant consumer of industrial starch. In 2020, the North American market faced disruptions due to the COVID-19 pandemic. The pandemic's impact was felt across major industries, particularly In the US and Canada.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increased use of industrial starch as a thickener is the key driver of the market.
Rising consumption of industrial starch is the upcoming market trend.
Fluctuation in raw material prices is a key challenge affecting the industry growth.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence In the industry.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market encompasses a diverse range of applications, primarily centered around the use of starches derived from various agricultural raw materials such as corn, wheat, cassava, potato, and other crops. These starches serve essential functions in various industries, including food and beverage, feed, paper, textile, and others. The supply chain of industrial starch involves the cultivation of crops, harvesting, processing, and manufacturing of the final product. The agricultural raw materials undergo various processes, including gelatinization, modification, and derivatization, to produce the desired industrial starches. These processes can include the use of chemicals, enzymes, and other additives to enhance the properties of the starch.
In addition, the production of industrial starch can be influenced by several factors, including transportation issues, natural disasters, and labor shortages. Transportation challenges can impact the cost and availability of raw materials, while natural disasters can disrupt supply chains and production facilities. Labor shortages can also lead to increased production costs and potential delays. Functional ingredients, such as gums, proteins, and modified cellulose, are often used in conjunction with industrial starches to enhance the properties of final products. These ingredients can provide texture, consistency, and mouthfeel, among other benefits. Sustainable and eco-friendly materials, such as bioplastics and compostable products, are also gaining popularity in various industries as global sustainability goals become more prominent.
Furthermore, industrial starches are used in a wide range of applications, including thickening, binding, and stabilizing agents in processed foods and convenience foods. They are also used as texturizing agents in beverages, nutritional foods, and dairy products. In the paper industry, they are used as sizing agents, while In the mining and drilling industry, they are used as fat replacers. The market is segmented into various industries, including food and beverage, feed, paper, textile, adhesive, chemical, and others. Each industry has unique requirements for industrial starches, and the market is expected to grow as demand for sustainable and eco-friendly alternatives increases.
Moreover, the production of industrial starches involves the use of various raw materials, including tubers, roots, seeds, and vegetable cells. The processing of these raw materials involves various chemical and enzymatic reactions to produce the desired starch properties. The final products can be sold in various forms, including dry and liquid, and can be used in a wide range of applications. The market for industrial starches is influenced by several factors, including consumer trends, regulatory requirements, and technological advancements. Consumers are increasingly demanding clean-label products with recognizable ingredients, which can impact the use of industrial starches in food and beverage applications.
In addition, regulatory requirements, such as those related to food safety and sustainability, can also impact the production and use of industrial starches. Technological advancements, such as the development of new processing methods and the use of biotechnological products, can provide opportunities for innovation and growth In the market. The production of industrial starches involves the use of various agricultural raw materials and the application of various processing methods to produce the desired properties. The market is influenced by several factors, including consumer trends, regulatory requirements, and technological advancements, and is expected to grow as demand for sustainable and eco-friendly alternatives increases.
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Market Scope |
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Report Coverage |
Details |
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Page number |
157 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.5% |
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Market growth 2024-2028 |
USD 23.97 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
4.23 |
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Key countries |
US, China, Germany, Canada, and Japan |
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Competitive landscape |
Leading Companies, market growth and forecasting, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
We can help! Our analysts can customize this industrial starch market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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