Industrial Starches Market Revenue To Reach $169,971.8 Million by 2030, says P&S Intelligence

NEW YORK , May 23, 2022 /PRNewswire/ -- The industrial starches market was at $97,623.6 million in 2021, and it is likely to propel at a 6.4% CAGR from 2021 to 2030 and reach $169,971.8 million. Starches are widely used in the food sector as a preservative and for thickening, stabilizing, film-forming, and gelling purposes.

The impact of the epidemic on the agrarian sector was little, owing to the government support for the uninterrupted operations of the supply chain and efforts to maintain food security. Furthermore, the pharmaceutical sector had a positive impact on the industrial starches market because of the increasing use of starch in medicines and drugs.

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 Key Findings of Industrial Starches Market Report

• Corn is considered one of the essential raw materials for producing starch, thus generating the highest revenue. The worldwide production of corn has increased by over 7% in 2022 in comparison to 2021, because of the quickly developing food processing and agriculture sectors.
• The largest share, of over 30%, was held by native starches in 2021 in the industrial starches market. Corn, potato, wheat, and tapioca are the natural sources of native starch, used to thicken the food and provide stability and texture.
• The market for industrial starches in the APAC is likely to advance rapidly in the near future, because of the growing production of starchy crops, for example, sweet potato, cassava, and maize, in emerging economies, such as India, China, Thailand, and Indonesia.
• Moreover, the increasing disposable income and the growing consumer requirement for a wider food range and products with starch in the APAC are driving the growth of the market. For example, per capita, the disposable income in Australia went up at a 1.22% CAGR over the last 10 years.
• The food sector is growing rapidly because of the altering food consumption habits and snowballing working population. For example, the working population in the U.S. is approximately 160 million in 2022, from where it is set to grow by 3.8 million in the next two years.

Browse detailed report on Industrial Starches Market Size, Growth Challenges, Opportunities, and Forthcoming Developments 2030

Food processing is among the most-rapid-developing industries, mainly in emerging economies, such as China and India. With a continuously growing economy, rising demand for food, and snowballing income, the food industry has experienced a substantial shift in the patterns of how people spend.

The industrial starches market is also flourishing because of the numerous strategic developments initiated by major players to consolidate their position. Furthermore, the pharmaceutical, food processing, and biobased industries are generating a high demand for industrial starches. To cope with the increasing demands, companies are involved in product launches and mergers. For example, Cargill started a partnership in April 2021 with Starpro, a Thai tapioca starch manufacturer, to offer tapioca starch to Asian food manufacturing units.

Industrial Starches Market Segmentation Analysis

By Source

• Corn
• Wheat
• Cassava
• Potato

By Type

• Native Starch
• Starch Derivatives
• Sweeteners

By Application

• Food
• Feed
• Pharmaceutical
• Paper Industry

Regional Outlook

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Asia-Pacific
• Japan
• China
• India
• Australia
• Latin America
• Brazil
• Mexico
• Argentina
• Middle East and Africa
• Saudi Arabia

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SOURCE P&S Intelligence