Starch derivatives or modified starch is practically used for all the starch applications including emulsifiers, stabilizers, thickening agents, and coated papers. This chemically altered starch has numerous end-user applications, thanks to its modified characteristics. Increasing applications within the food and beverages sector is the strongest driver for the global modified starch market. cost effectiveness, rising demand and chemical characteristics of this product makes is a better pick in comparison with the native starch. As a result, the market for modified starch is gaining healthy growth in terms of demand, applications, and revenue channels.
Scope of Research: Segments
The global modified starch market is segmented on the basis of the types of raw materials, their applications, and regional demand. Raw materials used for modifying starch include wheat, potatoes, corn, tapioca and such other products. Applications of modified starch include in food, non-food and feed industries. On the basis of the rising demand from different geographic regions, the industry is divided into four major regions, which include Asia Pacific, North America, Europe and RoW.
Convenience of using these products in food products, especially in the production of processed foods is a strong driver for the global modified starch market. As a result, the consumption chart for the industry is also up. Apart from the human food and animal feed industries, modified types of starch have strong demand from other non-food industries. These industries majorly include cosmetics, medicines, paper processing, and such other products. Both these are growing industries for the altered starch applications.
Demand for processed foods and animal feed are two significant factors for the global industry of modified starch. Emerging markets like Asia Pacific, Latin America, and Middle East and Africa are recording strong growth patterns in terms of consumption, demand and market revenue. These changing trends are evident on the overall scenario of the global industry. Improved standard of living and capacity of spending money on comfort food for these regions also have key role to play in this rising demand.
According to the market research reports, the modified starch market is expected to grow at a steady CAGR of over 4% from 2013 to 2018. During the aforementioned forecasting period, the global industry is anticipated to reach $10,337.8 million by the end of 2018. Rising demand from non-food industries and production and consumption of processed foods are expected to be strongest factors for the industry witnessing steady growth during the forecasting period.