Meticulous Research®, a prominent market research firm, has released a report titled ‘Modified Starch Market Size, Share, Forecast, & Trends Analysis by Product Type (including Acetylated Distarch Adipate, Dextrin, Maltodextrin), Raw Material (Corn, Cassava), Production Method (Chemical), Function, Form, End-use Industry - Global Forecast to 2031.’ This report forecasts that the modified starch market will achieve a total value of $17.98 billion by 2031, growing at a CAGR of 4.1% from 2024 to 2031.
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Key Factors Driving Market Growth
The growth of the modified starch market is significantly influenced by an increasing demand for convenience and processed foods. Additionally, the enhanced functional properties and expanded applications of modified starch, along with rising investments in the starch sector and a growing demand for bio-based products, are key growth drivers. Technological advancements in starch modification equipment and the rapidly expanding bakery industry further support this positive trend. Conversely, challenges such as the high costs and limited sources of natural additives, along with the strong preference for gum arabic, can hinder market growth.
Emerging Opportunities and Challenges
The demand for starch-based bioplastics and the growth of emerging economies in Latin America, Asia-Pacific, and the Middle East & Africa present substantial growth opportunities. However, the market faces challenges such as stringent regulatory processes for product approvals and rising raw material costs.
Detailed Market Segmentation
The modified starch market is segmented comprehensively by product type, raw material, production method, function, form, end-use industry, and geography, providing valuable insights into market dynamics.
Focus on Product Types
In the product type segment, modified starch includes various forms such as acetylated distarch adipate and maltodextrin. The acetylated distarch adipate segment is expected to hold a significant share of 28.8% in 2024, largely due to its essential functions in the food and beverage industry.
Insights on Raw Materials
The segmentation by raw materials indicates that corn is expected to capture a market share of 47.8% in 2024, driven by its versatility and wide-ranging applications in the food and beverage sectors.
Production Method Analysis
The market is segmented by production methods, with chemical modification projected to dominate with a substantial share of 66.9% in 2024, enabling the creation of starch products tailored to various industry needs.
Functional Applications of Modified Starch
In terms of function, the thickener segment is projected to account for 45.2% of the market in 2024, underscoring the importance of modified starch in achieving desired food textures and consistencies.
Trends in Product Form
Analyzing product forms, the dry/powder segment is expected to lead the market with a significant share of 64.5% in 2024, due to its advantages in stability and usability compared to liquid forms.
End-Use Industry Overview
The end-use industry segmentation highlights that the food and beverage sector is expected to dominate with a projected 50.8% market share in 2024, driven by the diverse applications of modified starches.
Geographic Insights
The report also provides insights into major geographic regions such as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America is projected to account for 38.1% of the market share in 2024, supported by a strong food and beverage sector and rising demand for natural ingredients.
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Key Players
The modified starch market is characterized by a moderately competitive scenario due to the presence of many large- and small-sized global, regional, and local players. The key players operating in the modified starch market are Cargill, Incorporated (U.S.), Ingredion Incorporated (U.S.), Archer-Daniels-Midland Company (U.S.), Roquette Frères (France), Tate & Lyle Plc (U.K.), AGRANA Beteiligungs-AG (Austria), Royal Avebe (Netherlands), Emsland-Stärke GmbH (Germany), Grain Processing Corporation (U.S.), Global Bio-chem Technology Group Company Limited (China), Asia Fructose Co., Ltd. (Thailand), Angel Starch and Foods Pvt. Ltd. (India), SMS Corporation Co., Ltd. (Thailand), Royal Ingredients Group B.V. (Netherlands), and SPAC Starch Products Ltd. (India) Private Limited (India).
Key Questions Answered in the Report:
- What is the current revenue generated from the modified starch market?
- At what rate is the global demand for modified starch projected to grow for the next 5-7 years?
- What is the historical market size and growth rate for the modified starch market?
- What are the major factors impacting the growth of this market at global and regional levels?
- What are the major opportunities for existing players and new entrants in the market?
- Which product type, raw material, production method, function, form, and end-use industry segments are expected to create major traction for the manufacturers in this market?
- What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the modified starch market?
- Who are the major players in the modified starch market? What are their specific product offerings in this market?
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