(Entertainment-NewsWire.com, October 11, 2018 ) The Industrial Starch market is showing evident potential in the mentioned forecasting period. The market continues to gain momentum with the rise in the efficiency of alternate starch sources like cassava and others. Various companies have been showing interest in the market lately.
Global Industrial Starch Market was worth USD 82.56 billion in 2018 and estimated to be growing at a CAGR of 6.71%, to reach USD 114.23 billion by 2023
Industrial Starch is generally used for the purpose of adhesive formulations in wide range of industrial applications. It can be derived from various sources like potato, cassava, wheat etc. Starch is not only used in food industry, but it is used for non-food industries like textile, mining, paper, building materials, as a result of its adhesive nature.
The rapid growth experienced by food processing industry has in turn, largely helped the growth of industrial starch market. Other major factors driving the industrial starch market include rise in demand for convenience foods, multiple functions related to starch as well as the growth in demand for adhesives in various industries. The market faces few restraints and challenges as well. Some of them include high investments for research and development purpose, alternatives like resin glue being used as adhesives and growth in the Arabic gum market. These factors have acted as hurdle in the path of the market.
The Global market for Industrial Starch is segmented on the basis of source, type, application and form. Based on Source the segments are Corn, Wheat, Potato, and Cassava. Corn accounts for the largest market share under source. The market segmentation on the basis of type is done under Native Starch, Starch Derivatives & Sweeteners, which is further fragmented into modified starch and other derivatives and sweeteners. The market share is dominated by starch derivatives and sweeteners due to lesser limitations and better functionalities than native starch. Based of application the market is segmented into Feed, Food & Beverages, and Paper Industry. The Food and Beverage segment accounted for the highest market share on the basis of application due to high variety in functionality and growing usage of starch in food and beverages industry. By form the segmentation is done into liquid form and dry form. The liquid form dominates the market share due to higher efficiency in use. On the basis of geography, the global market is analysed under various regions namely North America, Europe, Asia-Pacific and Rest of the World. The Industrial Starch market was dominated by Asia-Pacific, with the overall market share of over 34% globally. Asia-Pacific was followed by Europe and North America. Asia Pacific is predicted to grow at a rapid pace while Europe market is expected to be stagnant in the coming few years.
Some of the major companies dominating the market, by their products and services include Cargill, Archer Daniels Midland Company, Ingredion Incorporated, Tate & Lyle PLC, AGRANA Beteiligungs-AG, Grain Processing Company, Roquette Frères, The Tereos Group, Royal Cosun, Altia Industrial Services.
