Starch Derivatives Market
Starch Derivatives Market - Global Industry Analysis, Trends, Size, Share and Forecast 2015 - 2021
- Food & Beverages
- 74 Pages
Starch Derivatives Market: Snapshot
As per a report by Transparency Market Research, the global starch derivatives market is estimated to rise at a CAGR of 5.90% in the course of forecast period (2015-2021). In 2014, the starch derivative market stood at value of US$ 45.3 bn. With the expected CAGR, the market value is projected to reach valuation of US$ 68.7 bn by 2021. The growth is attributed to widening application range of starch derivatives.
Earlier, the use of starch derivatives was limited to food sector. However, with rising awareness about several properties of starch, it is being used in cosmetics, paper, feed, and pharmaceutical industries. Starch derivatives are also used in bioethanol and biofuels. Moreover, increasing use of starch in fermentation sectors, glue production, and textile finishing and weaving is fueling expansion of starch derivatives market.
Increasing Raw Material Cost May Interfere with Market Growth
Meanwhile, price of raw materials is also increasing. This may hinder growth of the starch derivative market in coming years. Implementation of bio-fuel is another factor anticipated to restrain growth of the market.
Food and beverages industry has emerged as the leading application segment in recent years. The segment accounted for major share in terms of revenue. Growing demand for convenience food, energy drinks, and non-carbonated drinks are few factors influencing the demand for starch derivatives in the food and beverage industry. Registering the trend, the demand for starch in the industry is anticipated to prevail in coming years as well.
As per estimation given by market analysts, demand for starch derivatives in food and beverage industry will chart at a CAGR of 5.80% in the course of forecast period. The food and beverage segment is likely to contribute US $ 40.7 bn by 2021. The segment contributed US $ 27.1 bn in 2014 to the global starch derivative market.
Demand for Convenience Food and Beverages Drives Growth of Starch Derivative Market in Asia Pacific
In 2014, Asia Pacific emerged as major consumer of starch. The region contributed 30% to the global share in terms of revenue. As per market analysts of Transparency Market Research, the region will continue to lead in the duration of forecast period, as well. This is due to increasing demand for starch in emerging economies such as India and China. Growth in demand for starch in the region is attributed to people’s inclination toward consuming convenience drink and food.
Starch derivative market value was approximately US $ 14 bn in the year 2014, which is estimated to reach US $ 21 bn by end of 2021. The market is anticipated to chart at a CAGR of 5.50% in the course of forecast period.
Global starch derivative market is a concentrated one. Players involved in the production of starch derivatives production are trying to improve the quality of starch. So that that can have an edge over their competitors. As a result, the market is anticipated to witness inflow of investment. This, in turn, will drive growth of the global starch derivative market in coming years.
Few companies are also undertaking merger and acquisition strategy to strengthen their foothold in the global market.
For example, in 2013, Cargill and Arasco collaborated with the Kingdom of Saudi Arabia (KSA) to increase production of starch and sweeteners. The collaboration was named as Center East for Food Solutions Co (MEFSCO). Furthermore, in 2014, Cargill established another corn sweetener and starch plant of 500,000 ton in Castro, Brazil.
Some of the pioneers in the global starch derivatives market are Ingredion Incorporated, Global Bio-chem Technology Group Company Limited, Roquette Frères, Grain Processing Corporation, Emsland Group, Tate and Lyle PLC,Avebe U.A., ADM, Cargill Inc., and Agrana Group.
Rising Applications by Paper and Pulp Industry to Augment Growth of Starch Derivatives Market
Starch derivatives were earlier used on food products only and therefore had a high demand from the food industry solely. In recent times, applications of starch derivatives have increased from food to paper and pulp, pharmaceuticals, feed, cosmetics, and other industries as well. Expanding interest for comfort food and refreshments in agricultural nations, ascend in populace, and growing per-capita pay are a portion of the key variables moving the development of starch derivatives market.
Major organizations are investing a lot of their capital on innovative technology and trends. These improvements are bettering the possibilities of starch subordinate items in the worldwide market. Also, starch projects a significant part in the bio-fuel, stick creation, material weaving and completing, and the maturation enterprises. Notwithstanding, execution of bio-fuel arrangements and expanding crude material costs are a portion of the components frustrating the development of the starch derivatives market.
The market for starch derivatives is undergoing critical development because of expanding consolidation in a wide scope of food applications and cost-viability offered by them, alongside the improved functionalities they give in contrast with local starch. The developing interest for handled and comfort food among buyers is provoking the interest for starch derivatives. With the headway of new advances and imaginative trials in the food and refreshment area the joining of starch derivatives across different ventures is expanding. Asia Pacific portion will rule the market, because of its high creation of prepared food.
Food and refreshments industry has arisen as the main application portion lately. The fragment represented significant offer as far as income. Developing interest for comfort food, caffeinated drinks, and non-carbonated beverages are not many variables affecting the interest for starch derivatives in the food and refreshment industry. Enlisting the pattern, the interest for starch in the business is expected to win in coming a very long time too.
Expansion in populace, flooding request in regards to accommodation food and beverages in agricultural countries, and the rise in per-capita pay are among the significant perspectives boosting the advancement of worldwide starch derivatives market. Besides, starch holds a huge spot in the paste creation, material completing and weaving, bio-fuel, and maturation areas.
The global starch derivatives market is expected to witness steady growth during the forecast period. Increasing usage of starch derivatives in industrial application is propelling the growth of the starch derivatives market. The starch derivatives market is categorized by product type into maltodextrin, glucose syrup, cyclodextrin, hydrolysates, and modified starch. Based on application, the starch derivatives market is segmented into food and beverages, feed, cosmetics, paper and pharmaceuticals among others including industrial applications and bio-ethanol. Glucose syrup holds a major share of the market, whereas maltodextrin experienced the highest growth in the market in terms of revenue in 2014. The demand for glucose syrup is expected to grow at a higher rate as compared to other product segments due to its increasing applications in various industries such as feeds, pharmaceuticals, paper, and cosmetics in developing countries. It is often used as flavor enhancer, volume-adding agent, texture agent, and inhibitor of sugar from crystallizing in drinks.
Furthermore, increasing health consciousness and growing demand for natural sweetener is driving the demand for starch derivatives globally. Increasing demand for convenience food and beverages in various countries such as China, Germany, India, the U.S., Brazil, and Saudi Arabia is one of the key factors propelling the growth of the starch derivatives market. In the past few decades, several developments have taken place in the starch derivatives industry, which has experienced a shift from conventional food products to time-saving food containing starch derivatives in the convenience and processed food category.
Globally, demand for starch derivatives is governed by the performance functionality and quality of the products. In addition, growing demand for starch derivatives in the pharmaceuticals industry is one of the key factors supporting the growth of the market significantly. Increasing research and development expenditure coupled with fluctuation in raw material prices is likely to restrict the expansion of the starch derivatives market. However, this market is expected to grow in the next few years due to rising consumption of starch derivatives in various emerging countries and increasing application of starch derivatives in different sectors such as food and beverage, paper, animal feed and pharmaceutical among others. The research report covers drivers, restraints and opportunities of the starch derivatives market. The research study features present market trends and provides the forecast from 2015 to 2021. The report also covered the current market scenario for starch derivatives and highlighted its future market trends that are likely to affect the demand for starch derivatives. By geography, the market has been bifurcated into North America, Europe, Asia Pacific, and Rest of the World (RoW). The present market size and forecast until 2021 are covered in the report.
In 2014, Asia Pacific held the largest share of the starch derivatives market followed by Europe, North America, and Rest of the World (RoW). Asia Pacific is the largest as well as the fastest growing regional market due to rising demand for starch derivatives in India and China. Moreover, Asia Pacific is expected to maintain its leading position during the forecast period. The rise in demand for starch based food and beverages, and increasing application in pharmaceutical sector in India and China is expected to drive the growth of the starch derivatives market in Asia Pacific. Therefore, food and beverage manufacturers are focusing on producing starch based products to meet the consumers need in Asia Pacific.
The research study also analyzes different factors inhibiting and influencing the growth of the starch derivatives market. The analysis of market attractiveness provided in the report features key investing areas in the starch derivatives industry. Furthermore, the report will help starch derivatives manufacturers, suppliers, and distributors understand the present and future trends in this market and formulate their business strategies accordingly.
Key players in the starch derivatives market include Tate & Lyle PLC, Cargill, Incorporated, Archer Daniels Midland Company, Ingredion Incorporated, Roquette Frères S.A., BENEO-Palatinit GmbH, AGRANA Group, Avebe U.A. and Grain Processing Corporation.
The scope of the study presents a comprehensive evaluation of the stakeholder strategies and winning imperatives for them by segmenting the starch derivatives market as below:
Global starch derivatives market, by product type
- Glucose Syrup
- Modified Starch
Global starch derivatives market, by application
- Food and Beverages
- Others (including industrial applications, bio-Ethanol, bio fuel, glue manufacturing etc.)
In addition the report provides cross-sectional analysis of all the above segments with respect to the following geographical markets:
Global starch derivatives market, by geography
- North America
- Rest of Europe
- Rest of Asia Pacific
- Rest of the World (RoW)
- Latin America
- Middle East