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-
On the basis of product type, the starch syrup market has been segmented as-
- Glucose Syrup
- Fructose Syrup
- Maltose Syrup
On the basis of source, the starch syrup market has been segmented as-
On the basis of application, the starch syrup market has been segmented as-
- Bars & Cereals
- Sauce & Dressings
- Infant Formula
- Pharmaceutical & Nutraceutical
On the basis of distribution channel, the starch syrup market has been segmented as-
- Store- based retailing
- Hypermarket/ Supermarket
- Convenience Store
- Specialty Store
- Online retailing
- Store- based 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.
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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?
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