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The starch derivatives market size is estimated to grow at a CAGR of 4.66% between 2022 and 2027. The market size is forecast to increase by USD 57.08 billion. The growth of the market depends on several factors such as the high demand for corn starch as a less expensive alternative, the rising demand for starch derivatives from pharmaceutical companies, and the increasing adoption of starch derivatives in industrial applications.
This starch derivatives market report extensively covers market segmentation by raw material (corn, cassava, potato, wheat, and others), type (dry and liquid), and geography (North America, APAC, Europe, South America, and the Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Our researchers analyzed the data with 2022 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.
High demand for corn starch as a less expensive alternative is notably driving the market growth. In the global starch derivatives market, the growth can be attributed to the high demand for corn starch in the food and beverage industry due to the wide application areas of corn starch derivatives. The availability of corn in abundance, especially in agriculture-rich countries such as India and China, drives growth in the global starch & starch derivatives market. Corn is a major source used for producing starch derivatives and it is not just used as a thickening agent but also is a high source of energy. In addition, the use of corn starch is also known to lower blood sugar in humans. In addition, corn starch has excellent soothing and moisture-absorbing power.
Also, it is used in cosmetics as an ideal solution for skin problems. Consequently, the use of corn starch goes beyond its application in the food and beverages industry. The numerous application of the ingredient makes it ideal for various purposes, thereby increasing the demand for corn starch, which will boost the growth of the global starch derivatives market during the forecast period.
Increasing preference for bio-based products is an emerging trend shaping the market growth. Rigid government guidelines and regulations on the use of synthetic food ingredients will have a significant impact on the global starch derivatives market. The safety and purity of food products and ingredients are regularly checked by regulatory bodies such as the FDA. During the forecast period, stringent regulations such as a ban on several artificial ingredients, and permissible limits for synthetic food ingredients by regulatory bodies such as the FDA will increase the consumption of starch & starch derivatives.
Moreover, the Federal Food, Drug, and Cosmetic Act (FFDCA) regulation restricts the use of artificial ingredients in cosmetics and self-care products. As a result, for manufacturing food and beverages, cosmetics, and personal care products manufacturers depend on bio-based starch derivatives. These factors are anticipated to fuel the growth of the starch derivatives market during the forecast period.
The constant fluctuation in raw material prices is a significant challenge hindering market growth. The starch derivatives market experienced oscillations in raw material prices associated with the production of starch derivatives. The volatility in the prices of raw materials depends mainly on the natural vagaries and not just on the ease of availability. Moreover, native starch is used as the pivotal raw material used for the production of starch derivatives. The changes in the prices of raw materials would not only lead to the companies in the market being uncertain about the fixation of prices for the starch derivatives delivered by them but also could lead to augmented prices of starch & starch derivatives to earn a substantial profit margin in the market.
Further, due to the erratic availability of raw materials, as starch derivatives are basically agri-products whose availability depends on natural vagaries, the fluctuations in the prices of raw materials tend to worsen the situation for the vendors in the market. Consequently, constant fluctuation in raw material prices will impede the growth of the starch derivatives market during the forecast period.
The market research 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 report includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Starch Derivatives Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AGRANA BEteilgungs AG - The company offers starch derivatives products from corn, potatoes and wheat for a range of applications such as Paper finishing, cardboard, coatings and decorative cosmetics.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market 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 market 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 corn segment is estimated to witness significant growth during the forecast period. The starch from corn grain, more precisely from the endosperm of the kernel, is extracted to create corn starch. Generally, corn starch is used in the food and beverage sector as a thickening agent, emulsifier, film-forming agent, gelling agent, and stabilizing agent.
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The corn segment was the largest segment and was valued at USD 13.40 billion in 2017. The food industry is a major consumer of corn starch, followed by the non-food sectors such as the paper, cosmetic, textile, mining, and consumer products industries. It is generally used for manufacturing cardboard, cartons, and corrugated boxes for packaging. Corn starch has high demand due to its cheaper price. It is abundant in agricultural economies such as India and China. It delivers different health advantages and has a high nutritious value. In addition, health-conscious people largely consume it as it lowers their blood sugar levels. Therefore, such factors will fuel the growth of the corn segment in the starch derivatives market during the forecast period.
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North America is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Due to the mature market conditions in the region, the demand for starch derivatives is anticipated to be moderate during the forecast period. Mexico is predicted to be one of the fastest-growing markets in the region.
In the region, the demand for maltodextrin is also growing at a significant rate. The availability of native starch in abundance in the region is one of the key drivers for the starch derivatives market in North America. Globally, North America is one of the leading producers of starch derivatives. Therefore, the high demand for starch derivatives in the region is expected to drive growth in the starch derivatives market during the forecast period.
In 2020, companies in the regional starch derivatives market faced the adverse impact of the COVID-19 pandemic on their business operations. Nevertheless, in 2021, COVID-19-related restrictions were lifted in the region due to the availability of vaccines and the decline in the number of COVID-19 cases. The demand for starch derivatives in the region returned to normal as retail outlets, such as grocery stores, convenience stores, hypermarkets, and supermarkets, reopened. Therefore, the increasing consumption of packaged food in the US and Canada will fuel the growth of the regional starch derivatives market during the forecast period
The starch derivatives market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Starch Derivatives Market Scope |
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Report Coverage |
Details |
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Page number |
161 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.66% |
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Market growth 2023-2027 |
USD 57.08 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
4.56 |
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Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
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Performing market contribution |
North America at 35% |
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Key countries |
US, China, Japan, Germany, and Brazil |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
AGRANA BEteilgungs AG, Archer Daniels Midland Co., B Food Science Co. Ltd., Beneo GmbH, Cargill Inc., Royal Avebe, Emsland Starke GmbH, Food Innovation Online Corp., Foodchem International Corp., Grain Processing Corp., Gujarat Ambuja Exports Ltd., Gulshan Polyols Ltd., Ingredion Inc., Jay Sardar Starch and Gum Consultant, Roquette Freres SA, Sanstar Bio Polymers Ltd., ShreeGluco Biotech Pvt. Ltd., Shubham Starch Chem Pvt. Ltd., Tate and Lyle PLC, and Tereos Participations |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this 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 Raw Material
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 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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