Global Modified Starch Market to Surpass US$ 16.46 Billion by 2027 – Coherent Market Insights
SEATTLE--(BUSINESS WIRE)--May 15, 2019--
The global modified starch market was valued at US$ 10.24 billion in 2018, and is projected to exhibit a CAGR of 5.5% over the forecast period (2019–2027), in terms of revenue.
Key Trends and Analysis of the Modified Starch Market:
The modified starch market is expected to witness substantial growth over the forecast period.
According to Monash Biomedicine Discovery Institute, a research conducted at the Monash University in 2018 in Australia conclusively reported that modified starch prevented the onset of diabetes. This opens up an opportunity for players in the market to use modified starch as a medicinal food and introduce related products.
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Dual chemical modification is a key technological trend in the global modified starch market. Two different chemical modification processes are merged together to improve final product properties. Typical combinations include, crosslinking/hydroxypropylation, crosslinking/acetylation, and acetylation/oxidation processes among others. In the food and beverages industry, cross linking of starch is done to thicken, texturize, and stabilize food systems. Increasing demand for cross-linked starch products in the food & beverages and plastic industry is a key driver for growth of the cross-linked starches segment in the global modified starch market. Furthermore, in the food and beverages industry, cross-linked starches are used in acidic food products, in the preparation of pie filling, baby food, soups, gravies, bread, puddings, and others.
Major players in the market are focused on adopting various strategies to expand their product portfolio and enhance their market share. For instance, in 2017, Cargill launched Clearset 35426 - a unique blend of specialty starches for gelatin-free sugar confectionery applications, an innovative texturizing technology has been developed in Europe which will reduce the production time of wine gum by 50%. Furthermore, in 2015, the company launched new product called CreamTex, a unique starch enabling a minimum of 50% fat reduction in yoghurt to improve the texture and rheological behavior of the finished product.
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Key Market Takeaways:
- The global modified starch market is expected to exhibit a CAGR of 5.5% during the forecast period in terms of revenue. The market growth is driven by increasing use of modified starch in various end-use industries such as textile, paper and packaging, pharmaceuticals, animal feed, personal care, and others.
- Among regions, North America is expected to account for major market share over the forecast period, owing to increasing demand for food and dairy products from the food and beverages industry. Moreover, the use of modified starch in food & beverages allows products to be stored over long durations.
- Some of the major players operating in the global modified starch market include, Archer Daniels Midland Company, Cargill, Ingredion Incorporated, Tate & Lyle, Emsland-Starke GmbH, Agrana Beteiligungs-AG, Grain Processing Corporation, Roquette Frère, and others
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PUB: 05/15/2019 08:40 AM/DISC: 05/15/2019 08:41 AM