Modified Starch Market size to grow by USD 2.86 billion from 2023-2027, Samyang and Angel Starch & Food Pvt. Ltd. to emerge as some of the key companies, Technavio

NEW YORK, March 27, 2024 /PRNewswire/ -- The global modified starch market size is estimated to grow by USD 2.86 billion from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of  4.36% during the forecast period. Companies employ diverse strategies like alliances, mergers, and launches to bolster market presence. For instance, Samyang, via its subsidiary Nutrend Biotech, provides modified starches. The competitive landscape, detailed in the market report, includes analyses of 15 companies such as Archer Daniels Midland and Roquette Freres. Qualitative and quantitative assessments categorize firms based on their market focus and performance strength.North America held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 35%. 

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Segment Overview
Technavio has segmented the market based on type, Type (Dry and Liquid), End-user (Food and beverage, Textile and paper, and Others), and Geography (North America, APAC, Europe, South America, and Middle East and Africa). 

• The dry segment, valued at USD 7,928.30 million in 2017, is forecasted to experience significant revenue growth. Dry-modified starch serves as a crucial component in various food preparations, catering to the rising demand for processed foods. Its versatility extends to industries like paper, cosmetics, and textiles, meeting diverse needs. The burgeoning demand for natural ingredients in cosmetics further propels the dry segment's growth trajectory in the global market.
• The market is segmented into food and beverage, textile and paper, and others. The dominant sector is food and beverage, propelled by modified starch's diverse applications in food stability, preservation, and texture enhancement. Its utility ranges from maintaining stability in frozen foods to improving viscosity and mouthfeel. Such versatility positions the food industry as the primary driver for market growth and expansion.

Geography Overview
By geography, the global modified starch market is segmented into North America, APAC, Europe, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global modified starch market.

• North America is expected to contribute 35% to the global market growth during the forecast period. The region's demand for modified starch is moderate due to its mature market conditions. Glucose syrup is prevalent, while maltodextrin demand is rising. Abundant native starch availability, particularly cornstarch in the US, and its influence on the global corn supply chain for starch extraction under bioethanol policy, are key drivers propelling regional market growth.

Insights on the market contribution of various segments including country and region wise, historic (2017 to 2021) and forecast market size (2023 to 2027) 

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What's New?

• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession 
• Global competitiveness and key competitor positions 
• Market presence across multiple geographical footprints - Strong

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Market Dynamics

High demand for cornstarch as a less expensive alternative is a key factor driving the market share:

High demand for cornstarch, a cost-effective alternative, is a key market driver. Its popularity in the food and beverage industry, particularly as a gluten-free option, drives global growth. Abundant corn availability in countries like India and China supports market expansion. Cornstarch's versatility extends to cosmetic and household uses, further propelling demand worldwide.

• The use of novel technologies for the production and development is a key trend in the market.
• Increasing application of gum arabic as a substitute is a key challenge restraining the growth of the market. 

Insights on Market Drivers, trends, & Challenges, historic period (2017 to 2021) and forecast period (2023 to 2027)

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What are the key data covered in this Modified Starch Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the Modified Starch Market between 2023 and 2027
• Precise estimation of the size of the Modified Starch Market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the Modified Starch Market industry across North America, APAC, Europe, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of Modified Starch Market vendors

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Analyst Review:

The Modified Starch Market is witnessing steady growth, driven by various factors across different industries and regions. In the food and beverage supply chain, particularly in North America and Europe, modified starches are extensively used in convenience foods, catering to the fast-paced lifestyles of consumers.

Asia's expanding markets present lucrative opportunities for modified starch manufacturers, as the region's demand for convenience foods continues to rise. Moreover, the personal care and cosmetics industries also utilize modified starches in various products, contributing to market growth.

International fast-food restaurant chains, especially in European markets, are significant consumers of modified starches, incorporating them into food products to enhance texture and consistency. Within the market, the starch esters and ethers segment, cationic starches, cassava segment, corn segment, thickeners segment, and emulsifier segment are witnessing substantial growth.

Modified starches find applications across diverse sectors, including the food and beverage segment, paper segment, and processed and convenience foods. Manufacturers are focusing on manufacturing ready-to-eat food products to meet the rising consumer demand for processed foods.

Additionally, restaurants and food service outlets are increasingly adopting modified starches to improve the quality and consistency of their offerings. Overall, the modified starch market is poised for further expansion, driven by the growing demand from various industries and regions.

Market Overview:

The Modified Starch Market is witnessing significant growth, particularly within the food and beverage supply chain, with notable contributions from North America, Europe, and Asia's expanding markets. This growth is driven by the increased consumption of convenience foods and the demand from personal care and cosmetics industries. Additionally, international fast-food restaurant chains are major consumers of modified starch products. In European markets, the starch esters and ethers segment, along with cationic starches, are prominent. The cassava and corn segments also play key roles, alongside thickeners and emulsifiers, catering to various industries such as food and beverage, paper, and personal care. Processed and convenience foods are seeing a surge in demand, leading to increased manufacturing of ready-to-eat products. Restaurants and food service outlets are significant consumers in this market due to the rising consumer demand for processed foods.

About US
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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