According to a new study by TMR, the sales of clean label starch are estimated to reach ~US$ 1.4 Bn in 2019. The clean label starch market is projected to record a Y-o-Y growth of ~6% over the forecast period, to reach a value of US$ 2.5 Bn by 2029.
In recent years, the global market has been witnessing a new trend of ‘clean label’ for most food and beverage products. Over the years, there has been a rise in the number of health conscious consumers, both, in developed and developing nations. The combination of several critical factors such as higher penetration of social media, easy availability of critical information regarding consumers’ desire for healthy lifestyles, consumption of organic and natural products, and rise in per capita income in several developing nations has been triggering the demand for clean label products on a global stage. Consumers are now even considering the type and quality of the food ingredients used in various food products. According to Ingredion Inc., clean label claims have the potential to make 64% of European consumers change brands.
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Clean Label Starch Market: Preferential Inclination towards Non-Modified Convenience Ingredients
Rising concerns about health and wellness have led consumers to change their lifestyles and habits. These have transformed their food preferences as well. Due to this shift, the demand for organic products and ingredients has increased considerably in the past few years. The demand for clean label starch is also on the rise due to consumers shifting to clean label products. Even among the clean label starch products that are available in the clean label starch market, those certified by higher regulatory bodies are trusted more. Consumers are demanding transparency about the products that they consume, and want to know the sources of the ingredients in their food products.
Clean Label Starch Market: Substantial Growth of Bakery Industry in Emerging Markets
Baked goods include breads, cakes, biscuits, pastries, breakfast, and other products. Rise in the per capita consumption of bakery products projects the increasing growth potential of the global bakery industry. In developing regions such as India and China, there is significant market potential for baked goods, wherein, consumer preference is increasing for packaged goods, owing to the influence of Western culture, changing lifestyles, and increasing demand for flavored and convenience food products. Thus, clean label starch manufacturers are focusing on target companies making bakery products to increase their market share in the clean label starch market, by offering a wide range of clean label starches used as egg replacements in sponge cakes, pound cakes, donuts, muffins, and many more products, to improve product quality and shelf life.
Global Clean Label Starch Market: Competitive Landscape
Prominent players in the clean label starch market have been profiled in the clean label starch market report. Some of the key players in the global clean label starch market are Ingredion Inc., Cargill Inc., E. I. du Pont de Nemours, Archer Daniels Midland Company, Tate & Lyle PLC, Euroduna Food Ingredients GmbH, Roquette Frères S.A. BENEO GmbH, Kent Corporation, MGP Ingredients, Inc., AGRANA – Beteiligungs AG, American Key Food Products, LLC, Tereos Starch & Sweeteners Iberia Sa, Thai Flour Co., Ltd., Manildra Group, Avebe U.A., Amylco LLC, KMC Kartoffelmelcentralen A.M.B.A, Gulshan Polyols Ltd., SPAC STARCH PRODUCTS (INDIA) LTD., etc.