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  • Published In : Sep 2023
  • Code : CMI5202
  • Pages :159
  • Formats :
      Excel and PDF
  • Industry : Food and Beverages

The global industrial starches market was valued at US$ 14.02 Bn in 2022, and is expected to exhibit a CAGR of 6.4%, in terms of revenue, over the forecast period (2023-2030) to reach US$ 22.99 Bn by 2030. Industrial Starches are the basic products from which plastic products are manufactured. The global expansion of the food processing sector is driving growth of the industrial starches market. Moreover, increasing demand for clean label food products is again driving growth of the market. For instance, in March 2020, Tate & Lyle expanded its line of Claria clean-label starches and launched Claria Everlast. The starch is designed to solve formulation challenges related to refrigerated and freeze-thaw stability in categories such as frozen meals, sauces, and yogurts. The ingredient is non-GMO and has a clean taste and neutral color.

Global Industrial Starches Market- Impact of Coronavirus (COVID-19) Pandemic

Due to the growing e-commerce industry, starch manufacturers in the market have seen huge demand from the paper and paperboard industries. This industry uses corrugated boards to package goods. In addition, after the coronavirus pandemic, consumers shifted their online shopping habits to online shopping channels for various basic and non-basic goods such as packaged food and drinks, clothes, cosmetics and personal care products, and appliances. However, industrial starch manufacturers were unable to meet the increasing demand as two drying assets were removed from the market, which led to a shortage of drying capacities.

Figure 1. Global Industrial Starches Market Value Share (%), By Type ,2023
INDUSTRIAL STARCHES MARKET

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Global Industrial Starches Market: Growth Drivers

  • Increasing investment by key players in starch production: Increasing investment by key players in starch production to meet the growing demand is driving growth of the industrial starches market. For instance, in April 2021, Cargill Inc., a global food corporation, announced its plans to expand its specialty tapioca starch offerings for the Asia Pacific region. Cargill partnered with Starpro, the food-grade tapioca starch producer in Thailand. With this, it plans to expand in the Asia Pacific region in order to support the product processing requirements of food manufacturers and the expectations of consumers.
  • Growing demand from bio-plastic industry: Growing demand from the bio-plastic industry is again propelling growth of the market. Starch-based films, when used in conjunction with PLA films as an outer layer, are used in different food packaging applications. For instance, in 2022 Mars Incorporated replaces BOPP (biaxially oriented polypropylene) in its candy packaging by incorporating a new compound made of the starch derived from potato cutting waste.

Industrial Starches Market Report Coverage

Report Coverage Details
Base Year: 2022 Market Size in 2022: US$ 14.02 Bn
Historical Data for: 2018 to 2021 Forecast Period: 2023 to 2030
Forecast Period 2023 to 2030 CAGR: 6.4% 2030 Value Projection: US$ 22.99 Bn
Geographies covered:
  • By Region: North America, Latin America, Europe, Asia Pacific, and Middle East & Africa
Segments covered:
  • By Type: Native Starch, Starch Derivatives and Sweeteners 
  • By Source: Corn, Wheat, Cassava, Potato, Other Sources
  • By Application: Food, Feed, Paper Industry, Pharmaceutical Industry, Other
Companies covered:

Cargill Incorporated, Archer Daniels Midland Company, Ingredion Inc., Tate & Lyle PLC, Agrana Beteiligungs AG, Kent Nutrition Group Inc. (Grain Processing Corp.), Roquette Frères, Tereos Group, Coöperatie Koninklijke Cosun U.A, Altia PLC, Angel Starch and Food Pvt. Ltd, Manildra Group, and Japan Corn Starch Co. Ltd

Growth Drivers:
  • Increasing investment by key players in starch production
  • growing demand from bio-plastic industry
Restraints & Challenges:
  • Fluctuating price of raw materials and climate changes
  • Growing prevalence of lifestyle disorder

Global Industrial Starches Market: Market -Restraints

  • Fluctuating price of raw materials: Fluctuating prices of raw materials such as corn, wheat, rice, and others and high initial investment are expected to hamper the growth of the industrial starch market. The cost of raw materials fluctuates according to its availability, source, and production.
  • Growing prevalence of lifestyle disorder: The global consumers have been cutting down on sugar and sweetener intakes, such as high-fructose corn syrup, due to health and weight management reasons, which is expected to hinder market growth. Moreover, the rise in prevalence of lifestyle disorders such as obesity and diabetes is reducing the consumption of starch-based sweeteners, which is again restricting market growth. However, Sustainable and advanced products Can help industrial starch market to grow.

Market Trends

  • Rise in application of cold-water swelling starches in food industries: The growing trend of cold-water swelling starches in food industries is projected to boost the market growth. Cold-water swelling starches offer better viscosity in a short time, saving time and costs. This is beneficial for convenience food. Moreover, it also gives unique textures to end products such as sauces and dressings, snacks, bakery goods, and prepared dairy products.
  • Reduction in the usage of plastic: There has been a big push observed in the market to reduce the use of plastic globally. Due to this, a large number of food manufacturers are looking for plastic-free packaging options. For instance, Nestlé Japan announced it will swap the plastic wrapping on its KitKat candy bars with paper in a bid to become one step closer to its commitment to 100% recyclable or reusable packaging by 2025.

Figure 2. Global Industrial Starches Market Value Share (%), By Region, 2023

INDUSTRIAL STARCHES MARKET

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Global Industrial Starches Market: Market Segmentation

The global industrial starches market report is segmented into type, source, application, and region. Based on type, the market is segmented into native starch and starch derivatives and sweeteners. Out of which, starch derivatives and sweeteners are expected to dominate the global market over the forecast period, and this is attributed to the growing demand for functional food products and clean label products. The confectionery and beverage industry accounts for the largest share, whereas functional food applications are witnessing the fastest growth in the food and beverage industry. Native starch segment is also expected to witness significant growth in the near future. The native segment of the market studied was valued at US$ 13,921.1 million in 2021, and it is projected to reach US$ 19,590.3 million by 2027, registering a CAGR of 5.89% during the forecast period, 2022-2027.

Global Industrial Starches Market: Regional Analysis

Among regions, North America is expected to dominate the global industrial starches market over the forecast period, and this is attributed to the high production of starches in the region. According to the European Starch Industry Association, in 2020, the total starch production in Europe, which included wheat, maize, and potatoes, stood at 11.5 million metric tons in comparison to 10.7 million metric tons in 2018. The European Starch Industry Association is the trade association, and its membership comprises 28 EU starch-producing companies, representing more than 95% of the EU starch industry. North America is also expected to gain the fastest growth over the forecast period due to high corn production. The US is the largest producer of corn with a production of 383.94 million metric tons in 2021-2022, which is utilized in various application areas, including the production of starch. According to the Coherent Market Insights analysis, the US industrial starches market was valued at US$ 13,310.58 million in 2021, and it is projected to reach US$ 16,599.22 million by 2027, registering a CAGR of 3.78% during the forecast period (2022-2030).

Global Industrial Starches Market: Key Developments

  • In April 2021, Cargill Inc. a global food corporation, partnered with Starpro to expand its specialty tapioca starch offerings in the Asia Pacific region. The agreement would cover a full range of locally manufactured modified tapioca starches for the food industry across markets in Asia- Pacific and globally. In addition, Cargill also offers a comprehensive portfolio of starches and starch-based texturizing solutions across different raw materials that provide multi-functional properties to meet the varied needs of Asian customers' food processes and cuisines.
  • In January 2021, Cargill Inc.doubled its production capacity of cold-water swelling starch (CWSS) at its Pandaan sweetener plant in Indonesia. CWSS is ideal for cold-prepared dairy products, snacks, bakery products and fillings, and sauces and dressings
  • In November 2021, Ingredion, which refines corn and produces sweeteners and starches, launched Sustainable Barrier Starch-FILMKOTE®2030 for High-Performing Oil and Grease Resistance in Food Service Packaging in the U.S. This helps manufacturers to replace fluorochemicals with a sustainable alternative.
  • In November 2021, Ingredion Incorporated launched sustainable barrier starch FILMKOTE 2030 for high-performing oil and grease resistance in food service packaging in the U.S. and Canada. This helps manufacturer replace fluorochemicals with a sustainable alternative.
  • In April 2021, Cargill Inc. announced its plans to expand its specialty tapioca starch offerings for the Asia Pacific region. Cargill partnered with Starpro. With this, it plans to expand in the Asia-Pacific region in order to support the product processing requirements of food manufacturers and the expectations of consumers.
  • In January 2021, Tate & Lyle announced the expansion of its line of tapioca-based starches. The expansion includes the launch of new REZISTA MAX thickening starches and BRIOGEL gelling starches.

Global Industrial Starches Market: Key Companies

The global industrial starches market is highly competitive. This is attributed to the continuous launch of new technologies due to ongoing Research and Development efforts by value chain participants. Moreover, key players are adopting various business growth strategies in order to expand their presence on regional and global basis. Some of the key players in the global industrial starches market are Cargill Incorporated, Archer Daniels Midland Company, Ingredion Inc., Tate & Lyle PLC, Agrana Beteiligungs AG, Kent Nutrition Group Inc. (Grain Processing Corp.), Roquette Frères, Tereos Group, Coöperatie Koninklijke Cosun U.A, Altia PLC, Angel Starch and Food Pvt. Ltd, Manildra Group, and Japan Corn Starch Co. Ltd

*Definition: Industrial starch is derived from natural sources and is used in a wide range of applications. Its use in the food industry is growing, as it is widely used in baking and other bakery products. Despite its growing popularity, native starch is still restricted to some applications due to its structure. Native starches are also used in building materials, paper, cosmetics, and pharmaceuticals. The demand for industrial starch is rising across various end-use markets.

Frequently Asked Questions

The global industrial starches market size is estimated to be valued at US$ 14.02 Billion in 2022 and is expected to exhibit a CAGR of 6.4% between 2022 and 2030.

Increasing investment by key players in starch production and the growing demand from bio-plastic industry are fueling the growth of market.

The starch derivatives and sweeteners segment is the leading component segment in the market.

Fluctuating prices of raw materials and climate change are the major factors restraining growth of the market.

Cargill Incorporated, Archer Daniels Midland Company, Ingredion Inc., Tate & Lyle PLC, Agrana Beteiligungs AG, Kent Nutrition Group Inc. (Grain Processing Corp.), Roquette Frères, Tereos Group, Coöperatie Koninklijke Cosun U.A, Altia PLC, Angel Starch and Food Pvt. Ltd, Manildra Group, and Japan Corn Starch Co. Ltd

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