Meticulous Research®, a respected market research firm, has published a report titled ‘Modified Starch Market Size, Share, Forecast, & Trends Analysis by Product Type (including Acetylated Distarch Adipate, Dextrin, Maltodextrin), Raw Material (Corn, Cassava), Production Method (Chemical), Function, Form, End-use Industry – Global Forecast to 2031.’ The report projects that the modified starch market will achieve a value of $17.98 billion by 2031, with a CAGR of 4.1% from 2024 to 2031.
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Market Growth Drivers
Several factors are contributing to the growth of the modified starch market, including rising demand for convenience and processed foods. The diverse functional properties and applications of modified starch, alongside increased investments in the starch sector and a growing preference for bio-based products, are significant contributors. Technological innovations in starch modification and the rapidly expanding bakery industry also bolster growth. However, challenges such as high costs and limited sources of natural additives, as well as a preference for gum arabic, may hinder growth.
Emerging Opportunities and Challenges
The increasing demand for starch-based bioplastics and the rise of economies in Latin America, Asia-Pacific, and the Middle East & Africa offer promising growth opportunities. Conversely, challenges including stringent regulatory processes for modified starch product approvals and rising raw material costs remain significant hurdles.
Comprehensive Market Segmentation
The modified starch market is segmented based on product type, raw material, production method, function, form, end-use industry, and geography, providing a detailed understanding of market dynamics.
Insights into Product Types
Within the product type segment, modified starch includes forms such as acetylated distarch adipate and maltodextrin. It is expected that acetylated distarch adipate will hold a significant share of 28.8% in 2024, mainly due to its extensive application in the food and beverage industry.
Raw Material Insights
The raw materials segment indicates that corn is anticipated to hold the largest share of 47.8% in 2024, driven by its versatile applications in the food and beverage sectors.
Production Method Insights
The market segmentation by production methods reveals that chemical modification will dominate the market with a projected share of 66.9% in 2024, allowing for the production of a diverse array of starch products.
Functional Applications of Modified Starch
In terms of functionality, the thickener segment is expected to account for 45.2% of the market in 2024, highlighting the significance of modified starch in achieving desired textures and consistencies in food products.
Product Form Analysis
The analysis of product forms shows that the dry/powder segment is expected to lead the market with a notable share of 64.5% in 2024, primarily due to its advantages in stability and handling compared to liquid forms.
End-Use Industry Insights
In the end-use industry segmentation, the food and beverage sector is projected to dominate with a substantial market share of 50.8% in 2024, driven by the diverse applications of modified starch.
Geographic Market Insights
The report provides a comprehensive analysis of key geographic regions including North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America is expected to hold 38.1% of the modified starch market share in 2024, driven by a strong food and beverage sector and increasing demand for natural ingredients.
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Key Players
The modified starch market is characterized by a moderately competitive scenario due to the presence of many large- and small-sized global, regional, and local players. The key players operating in the modified starch market are Cargill, Incorporated (U.S.), Ingredion Incorporated (U.S.), Archer-Daniels-Midland Company (U.S.), Roquette Frères (France), Tate & Lyle Plc (U.K.), AGRANA Beteiligungs-AG (Austria), Royal Avebe (Netherlands), Emsland-Stärke GmbH (Germany), Grain Processing Corporation (U.S.), Global Bio-chem Technology Group Company Limited (China), Asia Fructose Co., Ltd. (Thailand), Angel Starch and Foods Pvt. Ltd. (India), SMS Corporation Co., Ltd. (Thailand), Royal Ingredients Group B.V. (Netherlands), and SPAC Starch Products Ltd. (India) Private Limited (India).
Key Questions Answered in the Report:
What is the current revenue generated from the modified starch market?
At what rate is the global demand for modified starch projected to grow for the next 5-7 years?
What is the historical market size and growth rate for the modified starch market?
What are the major factors impacting the growth of this market at global and regional levels?
What are the major opportunities for existing players and new entrants in the market?
Which product type, raw material, production method, function, form, and end-use industry segments are expected to create major traction for the manufacturers in this market?
What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the modified starch market?
Who are the major players in the modified starch market? What are their specific product offerings in this market?
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A Growing Sector: The Modified Starch Market to Reach .98 Billion by 2031