(Entertainment-NewsWire.com, October 05, 2021 ) According to MarketsandMarkets, the global starch derivatives market size is estimated to be valued at USD 50.9 billion in 2020 and is projected to reach USD 61.5 billion by 2025, recording a CAGR of 3.9% in terms of value. The growth of starch derivatives market can be attributed to the increase in demand for processed and convenience food. Along with that, there is an increase in consumers shifting towards plant-based diets, which are also expected to fuel the starch derivatives market in the forecasted period. Asia Pacific region dominated the global starch derivatives market.
By raw material, the corn is projected to account for the largest share in the starch derivatives market during the forecast period
Based on raw material, corn dominated the starch derivatives market. Corn is a staple food, and it is preferred across the globe due to its importance in the diets of several countries. It is used extensively as a thickening agent in soups and liquid-based foods such as sauces, gravies, and custards.
By type, glucose syrup is projected to account for the largest share in the starch derivatives market during the forecast period
Based on type, glucose syrup dominated the starch derivatives market. Glucose syrup finds its application in various food and non-food applications. It is primarily used in the food & beverage industry as sweetener, thickener, and moisture-retaining agent. It helps in providing texture, volume, improved stability, and longer shelf life to the product. It is also used in pharmaceutical industry.
By application, food & beverages segment is projected to account for the largest share in the starch derivatives market during the forecast period
By application, the starch derivatives market is segmented into food & beverages, industrial and feed. Food & beverages is further classified into bakery & confectionery products, processed food, beverages, and others, which includes snacks and soups. Starch derivatives have been developed for a significant period of time, and their applications in the food & beverages industry are increasingly gaining importance. They are used across various food applications owing their functional properties.
Asia Pacific is projected to account for the largest market share during the forecast period
The starch derivatives market in Asia Pacific is dominant due to the increasing demand for processed food, because of shift in lifestyle trends. People are looking for ready-to-eat meal options as they are leading a busy life.
Asia Pacific is also the fastest growing market as industrial applications and technologies involved in starch processing are changing rapidly in the region. The demand for starch derivatives is increasing as various industries are incorporating starch derivatives in their manufacturing processes and products. Also, key players are increasingly investing the in the Asia Pacific starch derivatives market.
Archer Daniels Midland Company (US), Cargill (US), Ingredion (US), Tate & Lyle (UK), Roquette Frčres (France), Grain Processing Corporation (US), Global Sweeteners Holdings Ltd. (Hong Kong), AGRANA (Austria), Gulshan Polyols (India), Fooding Company Limited (China), Foodchem International Corporation (China), Tereos (France), Molinos Juan Semino SA (Argentina), JP & SB International (Spain), and Gujarat Ambuja Export (India). ShreeGluco Biotech Private Ltd. (India), Varun Industries (India), Shubham Starch Chem Pvt. Ltd. (India), Matsutani Chemical Industry Co., Ltd. (Japan), Sanstar Bio-Polymers Ltd. (India), Jay Sardar Starch & Gum Consultant (India), B Food Science Co., Ltd. (Japan), Tirupati Starch & Chemicals Ltd. (India), Sinofi Ingredients (China), and Nagase & Co., Ltd. (Japan).
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