According to a new report published by Allied Market Research, titled, " Food Starch Market by Raw Material, Type, and End User: Global Opportunity Analysis and Industry Forecast, 2019–2026, " The global food starch market size was $18.9 billion in 2018, and is projected to reach $29.1 billion by 2026, registering a CAGR of 5.8% from 2019 to 2026.
Increase in demand for high-quality food & beverages in terms of taste and nutritional content has been witnessed all across the globe. Consumers are shifting their preference from regular staple food to enhanced food products, which foster the demand for starch in the food & beverages industry.
Owing to versatile properties, starch find its application in the food industry. For instance, starch acts as a thickening & emulsifying agent and a texturant. Moreover, it used in gelling, stabilizing, and adhesion. Furthermore, it has rheology modifying property, which has resulted in its widespread adoption, thereby boosting the growth of the global food starch industry. Major application of starch includes bakery, confectionary, sauces, processed meats, noodles, pasta, dry mixes soups, salads dressings, puddings, and pie fillings. Furthermore, modification of starch has resulted in better heat, temperature, pH, and rheological resistance, which fuels its demand across the globe. In addition, development of the food processing industry is expected to bolster the growth of the food starch market in the upcoming years.
Recent years have seen transition in food consuming habits of the population around the world. People are now becoming concern about the type of food they are consuming along with monitoring calorie and other vital nutrients. Starch is a high-calorie food product. Furthermore, essential nutrients such as protein, fat, vitamins, and minerals are missing from starches. In addition, starch breaks down into glucose, which is expected to increase sugar levels. A study by the Princeton University revealed that laboratory rats that consumed High-fructose corn syrup (HFCS) gained substantially more weight than rats fed table sugar. Such negative health effects of starch and its derivatives negatively impact the overall market expansion.
The global food starch market is segmented into raw material, type, end user, and region. On the basis of raw material, the market is fragmented into maize, wheat, and others. By type, it is categorized into modified starch, native starch, and sweeteners. Depending on end user, it is bifurcated into business to business and business to consumer. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA
Key Findings of the Study:
- Maize segment was the highest contributor to the global food starch market, with $13.2 billion in 2018, and is estimated to reach $19.6 billion by 2026, at a CAGR of 5.3% during the forecast period.
- In 2018, by end user, the business to business segment accounted for about 82% of the global food starch market share in 2018, and is expected to grow at the CAGR of 5.6%. However, this segment is expected to lose market share to business to consumer segment.
- In 2018, depending on type, the sweetener segment led in terms of market share, however, the modified starch segment is expected to garner market share in the estimated forecast.
- Asia-Pacific dominates food starch the market, in terms of share, and is expected to continue this trend during the forecast period.
- Asia-Pacific region is anticipated to grow with robust CAGR of 7.0% during the forecast period.
Some of the key players in the food starch market analysis includes ADM, Cargill, Ingredion, Tate and Lyle, BENEO, Roquette Frères, AGRANA Beteiligungs-AG, SPAC Starch Products (India) Limited, Sonish Starch Technology Co., Ltd., and Nutrend Biotech Co., Ltd.