Global Modified Potato Starch Market 2019-2023 | 4% CAGR Projection Through 2023 | Technavio
LONDON--(BUSINESS WIRE)--Dec 19, 2019--
The global modified potato starch market is expected to post a CAGR of more than 4% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global modified potato starch market 2019-2023. (Graphic: Business Wire)
Rising population, increasing income, and the growing purchasing power of consumers have increased investments in F&B, pharmaceuticals, and paper industries across developing countries in APAC and South America. The modified potato starch market is witnessing increased demand from developing countries such as China, India, Brazil, Indonesia, Thailand, Egypt, and South Africa. Many market vendors are establishing their production facilities in these countries due to factors such as easy availability of raw materials, low labor and transportation costs, and the presence of favorable government policies. In addition, the emergence of China and India as key manufacturers of F&B and paper products has further increased the demand for modified potato starch.
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As per Technavio, the adoption of precision farming will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Modified Potato Starch Market: Adoption of Precision Farming
Precision farming is gaining popularity across developed and developing countries due to factors such as low cost, limited availability of land, and improved farming practices. The increasing adoption of precision farming has led to a significant rise in potato yield, thereby improving the production of modified potato starch. This trend will boost the growth of the global modified potato starch over the forecast period.
“Increase in the construction of new production facilities along with the rising use of modified potato starch for producing biodegradable packaging will further boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Modified Potato Starch Market: Segmentation Analysis
This market report segments the global modified potato starch market by application (food and beverages, paper and paperboard, pharmaceutical and others) and geography (Americas, APAC, and EMEA).
The EMEA region led the market in 2018, followed by the Americas and APAC respectively. During the forecast period, the EMEA region is expected to maintain its dominance over the market. This is due to the easy availability of processed raw material in the region. However, during the forecast period, the Americas region will witness maximum incremental growth due to the increasing population and rising income of the middle class in the region.
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Some of the key topics covered in the report include:
Five Forces Analysis
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PUB: 12/19/2019 03:30 AM/DISC: 12/19/2019 03:30 AM