Starch derivatives have emerged as viable substitutes for petroleum-based polymers due to their eco-friendly nature and biodegradability. Properties such as viscosity modification and thickening abilities have augmented the demand for starch derivatives in the food industry for pastes, syrups, and soups. Starch derivatives provide excellent film-forming properties that enable applications in pharmaceutical and industrial coatings.
The Global starch derivatives market is estimated to be valued at US$ 60.31 Bn in 2024 and is expected to exhibit a CAGR of 3.5% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Starch Derivatives are Cargill, Incorporated , ADM , Tate Lyle PLC , Roquette freres , AGRANA Beteiligungs-AG , Ingredion Incorporated , Green Processing Corp. (GPC) , Avebe , Emsland Group. Key players are focusing on expanding their product portfolio and global footprint to leverage lucrative growth opportunities.
The demand for starch derivatives is growing significantly owing to the various applications in industries such as food, paper, textiles, and pharmaceuticals. Properties such as biodegradability, thickening and film-forming abilities have augmented the demand for starch derivatives.
Major players are investing in expanding their global reach by establishing production and distribution facilities across Asia Pacific, North America, and Europe. Furthermore, the adoption of sustainable and eco-friendly products is expected to drive the global starch derivatives market during the forecast period.
Market Key Trends
One of the key trends gaining traction in the Starch Derivatives Market Size is the rising popularity of bio-based and biodegradable products. The adverse effects of plastics on the environment have led to the increasing demand for biodegradable and sustainable alternatives. Starch derivatives are plant-based materials that degrade quickly in the natural environment and don't release toxic substances. Furthermore, regulations prohibiting single-use plastic are expected to propel the adoption of starch derivatives in packaging solutions. Additionally, advancement in modification technologies have enabled starch derivatives to imitate petroleum-based polymers, thereby augmenting their utility in various applications. Overall, the eco-friendly and sustainable nature combined with versatility is expected to be the major driver contributing to the growth of the global starch derivatives market in the coming years.
Porter's Analysis
Threat of new entrants: The starch derivatives market has moderate threat from new entrants as it requires high initial investment and R&D costs. The market is dominated by major global players.
Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of substitutes. However, buyers prefer high-quality and innovative products.
Bargaining power of suppliers: Suppliers have moderate bargaining power as raw materials such as corn and wheat are agricultural commodities and have seasonal supply fluctuations. Suppliers use contracts and long-term relationships to maintain stable supplies.
Threat of new substitutes: There is moderate threat from new substitutes as alternative proteins and hydrocolloids can replace certain applications of starch derivatives. However, starch derivatives have customized properties and applications.
Competitive rivalry: The market is highly competitive with global players differentiating through innovation, quality, and strong distribution networks. Sustainability initiatives also impact competition.
Geographical Regions
North America accounts for the largest share of the starch derivatives market due to the well-established food and beverage industry and major players based in the US and Canada.
Asia Pacific is projected to be the fastest-growing region owing to rapid economic development, rising population, increasing demand for packaged and convenience food, and growth of end-use industries in China, India, and Southeast Asian countries.
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