Market Outlook

Starch syrup refers to viscous liquid obtained hydrolysis of enzymes from different sources in purified and concentrated form.  The starch syrup is widely used in food industry owing to its absorption capacity and acts as sweetener and thickener and contribute to color, texture and flavor of the food and beverage products.

With cumulative urbanization and escalating purchasing power in developing economies, consumers are spending more on healthy food products containing higher nutritional contents, owing to increasing health consciousness and preference for healthier lifestyles.

  • For instance, according to the United Nations, the urban population of China is around 53%, and is expected to go over 70% by 2050.

Manufacturers of starch syrup are demanding transparency in their products. Additionally, companies are focusing on collaborations with research centers for new product development, along with expanding their market presence in new marketplaces.

Increasing Awareness of Organic Certified Food Products has Escalated the Demand for Organic Clean Label Starch Syrup in the Global market

The growing awareness of natural and organic foods, owing to the associated health benefits, has fueled the shift in preference for food in day-to-day edibles by consumers. Consumers perceive organic food as a guarantee of authenticity of the product in terms of nutrients and ingredients used, besides the associated health benefits. In order to meet the demand for organic food and beverage manufacturers, starch syrup manufacturers are focusing towards producing organic ingredients.

  • For instance, in Europe, Finnish Finnamyl Ltd. and Aloja Starkelsen Ltd., are leading producers of organic potato starch in the European market. These companies are targeted towards offering organic starch syrup to manufacturers of organic food and beverage products owing to increasing demand for organic products especially in Western European and North American market.

There has been a swift rise in the demand for clean label starch syrup in infant milk formula products, owing to their nutritional properties and health benefits. Major players in the industry are adding products with clean labels to their portfolio in the infant nutrition segment.

  • For instance, in 2018, Ingredion Inc. launched 2 new products - Novation Prima 609 and 309 starches. These starches have the ability to enhance the shelf life and texture of food products and are used in infant formulations.

 Starch Syrup Market Segmentation

On the basis of nature, the starch syrup market has been segmented as-

  • Organic
  • Conventional

On the basis of product type, the starch syrup market has been segmented as-

  • Glucose Syrup
  • Fructose Syrup
  • Maltose Syrup
  • Others

On the basis of source, the starch syrup market has been segmented as-

  • Corn
  • Wheat
  • Pea
  • Potato
  • Tapioca
  • Others

On the basis of application, the starch syrup market has been segmented as-

  • Bakery
  • Confectionery
  • Snacks
  • Bars & Cereals
  • Sauce & Dressings
  • Dairy
  • Brewery
  • Infant Formula
  • Pharmaceutical & Nutraceutical

On the basis of distribution channel, the starch syrup market has been segmented as-

  • B2B
  • B2C
    • Store- based retailing
      • Hypermarket/ Supermarket
      • Convenience Store
      • Specialty Store
    • Online retailing

Starch Syrup Market: Key Players

Key players in the market are focusing on receiving various certifications to meet the growing consumer demand for starch syrup. Regulatory bodies develop rules and regulations for the production, handing, labeling, and enforcement of all clean label products. Thus, to offer starch syrup products, companies are developing innovative products in accordance with the guidelines by regulatory bodies, and are being recognized with various certifications such as non-GMO, halal, kosher, and others.

The market players operating in the starch syrup are Tate and Lyle, Cargill Inc., MANILDRA Group, Ingredion Inc., Gulshan Polyols Ltd., Karo Syrups, Grain Processing Corporation, Tereos, Corn Products International, Global Sweeteners Holdings Limited, COFCO Rongshi Bio-technology, Egyptian Starch and Glucose, Xiwang Sugar Holdings Company, Aston, Tongaat Hulett Starch, KASYAP, Luzhou Bio-chem Technology.

Starch Syrup Market Opportunities

The starch syrup is widely used in bakery products owing to their property of binding and holding water with ease in structure forming. Starch syrup also provide uniform adhesion and a crispy texture to food products which remains a primary requirement in most of the snack products. The consumers have now turned to healthy and natural ingredients and therefore the manufactures of starch syrups are expected to develop new formulations to meet the demand and trend of consumers as starch syrup are exceptionally used in multiple food products. 

The rise in modern trade and online retail formats are supporting the increased outreach of starch syrup and its products. The increase in usage of mobile phones and influential content on social media platforms enables consumers to access all required information of the offered products. The rise in modern trade is fueling the sales of starch syrup especially in developing countries like India, China, Australia and others.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Starch Syrup Market

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