Starch Derivatives Market Size, Trends, Share, Growth, and Opportunity Forecast, 2023 - 2030 Global Industry Analysis By Type (Modified Starch, Glucose Syrup, Maltodextrin, Cyclodextrin, Hydrolysates and Others), By Source (Corn, Wheat, Potato, Cassava, Others), By Form (Dry, and Liquid), By Application (Food & Beverages, Pharmaceuticals, Cosmetics, Industrial, Adhesives, and Others) and By Geography (North America, Europe, Asia Pacific, South America, and Middle East & Africa)

The global starch derivatives market was valued at USD 74,567.2 Million in 2022 and is anticipated to reach a value of USD 96,946.2 Million by 2030 expanding at a CAGR of 3.4% between 2023 and 2030.

Starch derivatives are commonly referred as modified starch prepared by physically, enzymatically, or chemically treating native starch to change its properties. Starch derivatives are obtained through tailored modification processes which enable them with more stable properties. Starch derivatives can be classified into modified starch, glucose syrup, maltodextrin, cyclodextrin, hydrolysates and others. It can be obtained from Corn, Wheat, Potato, Cassava, Other sources. Different businesses use starch derivatives for a variety of purposes according to their requirements. Starch derivatives increasingly used in food and beverages industry for ingredients that improve texture, stability, and shelf life.   It comes in dry or liquid form, liquid form is mainly sold as liquid syrup to make a sweetener. They are used in various applications including food & beverages, pharmaceuticals, cosmetics, industrial, adhesives, and others for various functionality. It can be used for stabilizing, emulsifying, binding, thickening, and various purposes. The demand for starches has been increasing owing to the rapid development of the food industry. Starch derivatives are cost-effective and has functional benefits which make them a preferred choice, propelling the market expansion.

Starch Derivatives Market Major Driving Forces

Growing Demand for Food Industry: The demand for starch derivatives has been increasing due to the rapid development of the food industry. Convenience foods are becoming more popular due to busy schedule of consumers. Starch derivatives are used for improving texture, stability, thickening, and shelf life.

Rising Demand for Convenience Food: The growing demand for convenience and ready to eat foods has led to increase demand for starch derivatives in convenience and processed foods. Starch derivatives plays important role in improving texture, stability, and thickness of various foods.

Rising Population and Disposable Income: A major factor driving the food industry is the growing worldwide population and the increase in disposable income. As a result, the demand for starch derivatives increasing rapidly.

Increasing Demand for Pharmaceuticals and Cosmetics: The rising demand for pharmaceutical and cosmetics owing to increasing disposable income and advancements in healthcare infrastructure. Starch derivatives are increasingly used in pharmaceuticals and cosmetics for improving their texture and stabilizing properties.

Starch Derivatives Market Key Opportunities

Technological Advancements: Continuous advancements in technology for the development of new and innovative products. Technological advancements in starch modification techniques is anticipated to create opportunities for the market growth.

Growing Demand for Sustainable and Eco-friendly Products:

Owing to increasing environmental concerns, consumers are increasingly seeking for sustainable products that has minimum environmental impact. Development of sustainable and eco-friendly products offer opportunities for starch derivatives market.

Expansion into Emerging Markets:

Expansion of starch derivatives market into emerging countries is expected to provide lucrative opportunity for the market growth.  Economic development in emerging markets owing to rising disposable income, increasing urbanization, and changing consumer preference drives the demand for starch derivatives.

Starch Derivatives Market Key Trends

·         Several market players are committed to developing product applications for the biofuel production market through long-term partnerships with other industries

·         Growing preference for bio-based products is an emerging trend shaping the market growth

·         Growing food processing sector globally is expected to be fuel the demand for starch derivatives in specialty applications

·         Owing to the high incidence of obesity there is an increasing demand for healthy foods and beverages among consumers

·         Consumers are increasingly demanding for food products that are made with natural ingredients

·         Owing to the increasing demand for clean label food products among consumers, manufacturers are highly investing in developing clean label products

·         Stringent regulations such as ban on artificial ingredients in cosmetics and personal care products have increased demand for starch derivatives

Region-wise Market Insights

Asia Pacific accounted for the largest market share at 39.6% in 2022 whereas, Asia Pacific is expected to register the fastest growth, expanding at a CAGR of 3.8% between 2023 and 2030.

The starch derivatives market in Asia Pacific is experiencing rapid growth due to region’s growing population, rising disposable income, increasing urbanization, growing demand for organic ingredients in the region. The primary drivers driving the uses of starch derivatives are the growth in functional food products, clean label demand particularly in countries such as China, India.  In North America, the demand is driven by the expansion of the pharmaceutical and food and beverages industry in countries such as United States, Canada, and Mexico. Furthermore, the growth of market in North America is attributed to the strong presence of major players that are increasingly investing in research and development to develop new products with improved properties. In Europe, the market is mainly driven by use of starch derivatives in the food and beverages industry. Furthermore, the growth is driven by factors such as focus on sustainable and eco-friendly products in countries such as Germany, France and United Kingdom. The Middle East and Africa has been witnessing a growing demand for starch derivatives owing to increasing demand for industrial applications of starch derivatives such as adhesives and paper industry.

Market Competition Landscape

The global starch derivatives market is highly fragmented with several domestic and international large manufacturers. The key players in the starch derivatives market engage in strategies aimed at gaining a competitive edge. These strategies include product innovation, design differentiation, and the incorporation of sustainable and eco-friendly materials to meet evolving consumer preferences. These companies focused on research and development, expansion, innovation, and partnership with other companies in order to retain their position within market. Established brands leverage their reputation for quality and reliability to maintain market share, while newer entrants focus on disruptive innovations and unique selling propositions.

For instance, in Nov 2023, Cargill Incorporated a leading global food and agribusiness, have opened Cargill Cocoa Development Center, the first of its kind in Asia-Pacific. This is located in Gresik, Indonesia, to enable customer-driven innovation with greater speed and agility.

Key players in the global starch derivatives market implement various organic and inorganic strategies to strengthen and improve their market positioning. Prominent players in the market include:

·         Cargill Incorporated

·         ADM

·         Tate & Lyle PLC

·         Roquette Frères.

·         AGRANA Beteiligungs AG.

·         Ingredion

·         Archer Daniels Midland Company

·         Anora Group PLC

·         Kent Nutrition Group Inc.

·         Japan Corn Strach Co. Ltd

·         BASF SE

·         Angel Starch and Food Pvt. Ltd

·         Green Processing Company

·         Foodchem International Corporation