Global Modified Starch Market is Expected to Foresee Significant Growth During the Forecast Period. The Asia-Pacific to Witness the Highest Growth
- Himanshu Patni
- May 21, 2022
- CONSUMER GOODS, NEWS
- Modified Starch Market, Modified Starch Market growth, Modified Starch Market share, Modified Starch Market size, Modified Starch Market trends
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The global modified starch market is expected to grow significantly by 2027 expanding at a CAGR of ~4% during the forecast period (2021-2027).
Modified starch is the starch extracted from grains and vegetables which has been treated to improve its ability to keep the texture and structure of the food. The modified starch is used in food products that need to be microwaved, freeze-dried, cooked at high temperatures (for example, a ready-made pizza, instant soup, sauces), or baked and fried so that the texture of such food does not change during the cooking process.
A rise in disposable income and growing demand for processed and packaged food, dairy, and confectioneries are some of the prominent factors that are contributing to the growth of the market. Processed foods occupy a significant share of many diets around the globe as these are widely available, cheap, and intensively marketed. The demand for the modified starch market is rising dramatically across the globe owing to the growing consumption of processed food in many high-income countries leading to the increase in sales of processed and packaged food. For instance, the sales of packaged food across the globe were nearly USD 2,339.7 billion in 2015 and gradually increased to USD 2578.9 billion in 2017 and USD 2,644.1 billion in 2019. Furthermore, advancement in technologies used in the manufacturing of the modified starch market to maintain and prolong the shelf life of products to enhance the quality of the food is also propelling the market growth.
For a detailed analysis of modified starch browse through – https://univdatos.com/report/modifies-starch-market/
Moreover, a growing prevalence of obesity across the globe is demanding more healthy and gluten-free foods. So, the consumers are shifting towards the use of modified starch. The Prevalence of Obesity and Overweight is rising dramatically across the globe and has nearly tripled since 1975. Obesity is among one of the leading causes of death worldwide as obese people are prone to many serious health conditions and illnesses. For instance, as per CDC, More than 900,000 adult COVID-19 hospitalizations occurred in the United States between the beginning of the pandemic and November 18, 2020. Models estimate that 271,800 (30.2%) of these hospitalizations were attributed to obesity.
The COVID-19 pandemic has had a historical impact on businesses across various industries in a short time, including the food and beverage supply chain. The biggest misconception about COVID-19 is that empty grocery shelves are an indicator that there is a shortage of food due to the recent runs on grocery stores, which have created these short-term disruptions as the supply chain works to catch up and replenish.
During the pandemic, the trades of processed and packaged foods had witnessed a sharp rise as consumers rush to stock their pantries. Also, the sales and consumption of processed foods and other shelf-stable foods that have a longer shelf-life increased. Furthermore, with the shutdown of various foodservice outlets and restaurants across the globe due to nationwide lockdown, consumers are compelled to cook at home. Hence, consumers stockpile food products that can be easily cooked and opt for ready-to-eat foods with longer shelf life. Owing to this, it is expected to have a positive impact on the processed and packaged food industry.
For a detailed analysis of the raw material of modified Starch browse through – https://univdatos.com/report/modifies-starch-market/
Based on the raw material, the market is fragmented into Potato, Corn, Cassava, Wheat, and Other Raw Materials (Rice Bran, Waxy Maize, etc.). The corn segment grabbed XX% market share in 2020 and captured USD XX Mn market in 2020. Rising corn production coupled with the surging awareness associated with the corn extracts is contributing to the growth of the segment. However, the consumers are preferring wheat-based starch as well. Wheat starch has superior gelling, stabilizing, and thickening properties. When used in food, wheat starch helps impart the desired texture and viscosity, along with enabling gel formulation, binding, and moisture retention. It is mainly employed as a thickening agent in the food industry.
Based on the application, the market is fragmented into Food & Beverages, feed, personal care products, and others. The food and beverage segment captured XX% Market share in 2020 and dominates the market. Goring demand for processed and packaged food is contributing to the market growth. However, the personal care products would witness a robust CAGR during the forthcoming years.
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Additionally, the report provides detailed initiatives that are being taken in the field of Modified Starch. The market is classified into distinct regions including North America (the U.S, Canada, Rest of North America), Europe (Germany, France, Spain, Italy, and United Kingdom and the Rest of Europe), Asia-Pacific (China, Japan, Australia, India, and the Rest of APAC), Rest of World has been conducted. Asia Pacific region grabbed XX% market and captured USD XX Mn market share in 2020. Surging disposable income, growing demand for ready-to-eat food, etc., are leading to the growth of the market. However, the North America region would witness a considerable CAGR during the forthcoming years.
Global Modified Starch Market Segmentation
Market Insight, by Raw Material
- Other Raw Materials (Rice Bran, Waxy Maize, etc.)
Market Insight, by Application
- Food & Beverages
- Personal Care Products
Market Insight, by Modification Type
- Physical Modification
- Chemical Modification
- Enzymatic Modification
Market Insight, by Function
Market Insight, by Region
- North America
- United States
- Rest of North America
- United Kingdom
- Rest of Europe
- Rest of Asia-Pacific
- Rest of World
Top Company Profiles
- Archer Daniel Midlands Company
- Ingredion Incorporated
- Tate & Lyle
- Avebe U.A
- Royal Ingredients Group
- Roquette Frères
- Grain Processing Corporation