Global Modified Starches Market – Overview:
There is a rise in the demand of modified starches due to rapid growth of food industry. Modified starches have several uses in a variety of foods such as bakeries, snacks, beverages as well as functional foods. This has surged the growth of the global modified starches market. Market Research Future, a firm which specializes in market reports related to the Foods, Beverages & Nutrition sector among others, recently forecasted in its report “Global Modified Starches Market Research Report- Forecast to 2023” that the market will demonstrate an exceptional CAGR % while achieving good growth rapidly in the forecast period.
The production of starch is from renewable resource especially cassava starch, as it is produced in abundant quantities in many countries. The starch based bio-degradable plastic is a good barrier to oxygen in dry state. This plastic is generally used for wrapping fast food items and planting pots for agriculture purposes and others. Biopolymers based on fermentation products such as PHB (polyhydroxybutyrate), polylactic acid are polyester 100% based on starch which has various application such as in molds, films, fibers and medical implants.
Wet-end starch additives comprises of bonding agents as it helps in binding fibers firmly composed in the sheet. Furthermore, modified starches are also used as binders for compressing powders and dust to tablets, slabs, and blocks for future processing purpose. Urea, formaldehyde and phenol are replaced by cheap binders like sulphite black liquors which also help in reducing hazards caused by other chemical binding agents to the environment. The major use of starch products in textile industry includes being used as a strengthening agent in draping yarns and improving the resistance to abrasion throughout weaving.
Starch products are also used in the glazing of fabrics. Miscellaneous applications for starch products include their use as flocculating agents, anticaking agents, mold-release agents, dusting powder, binders for pharmaceutical products, thickening agents and as raw materials in the production of chemicals and explosives. Hence, diverse application in various industries will drive the market of modified starches globally.
Applications of modified starches are stabilizing agent, emulsifying agent, thickening agent, and as freeze-thaw stabilizing agent. The food and beverage industry have huge demand for modified starches. However, use of acacia gum as a substitute to modified starches might slow down the modified starch market, as the substitute offers effective solutions to replace modified starches by enhancing processing, flavors, and mouth feel. This rising demand for acacia gum poses a threat to the modified starches market over the review period.
Global Modified Starches Market is in the entire world; to name few regions where this market exist are North America, Europe, China and Asia Pacific. Among these APAC has the major market share followed by North America. Europe is projected to grow at the fastest rate in the coming years owing to rising demand for modified starches from the paper industry, and textiles. North America dominated the modified starches market and market volume is projected to reach 43.92 MMT by 2022 and will grow at a CAGR of 3.93%. Due to the cheap raw materials & low production costs as well as less stringent environment regulations Asia-Pacific region is in a better position to produce starch at more competitive prices than developed countries in European and North American region.
Modified starches market has been segmented on the basis of source of modified starches, market is segmented into corn, wheat, cassava, potato, and other sources. On the basis of form, market is segmented into powder, liquid and gel. On basis of application, market is segmented into food & beverages and non-food application, food application includes confectionery, processed food, beverages, and others. Non-food applications includes corrugation and papermaking, personal care, pharmaceuticals, textiles, and others includes mining & drilling, construction & building, adhesives, chemicals and animal feed.
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The leading market players in the global modified starches market primarily are Cargill, Incorporated (U.S.), Archer Daniels Midland Company (U.S.), Ingredion Incorporated (U.S.), Tate & Lyle PLC (U.K.), Agrana Beteiligungs-AG (Austria), Grain Processing Corporation (U.S.), and Roquette Frères (France)
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