New York, USA, Oct. 11, 2022 (GLOBE NEWSWIRE) — According to the report published by Research Dive, the global modified star market is anticipated to generate a revenue of $17,141.70 million by 2030 and grow at 4.90% CAGR over the forecast period from 2021-2030. The extensive report provides a concise layout of the market’s current framework including prime aspects of the market, such as growth elements, challenges, restraints, and various opportunities during the predicted timeframe of 2021-2030. The report also provides all the market figures to help new participants analyze the market easily.
Dynamics of the Modified Starch Market
Drivers: Increased investment in the modified starch manufacturing along with the growing number of starch manufacturers across the world are some factors estimated to drive the growth of the global modified starch market during the forecast period.
Opportunities: Rising fast food restaurants across the globe along with people’s growing inclination towards convenient foods are some factors expected to offer ample growth opportunities for the global modified starch market during the 2021-2030 analysis timeframe.
Restraints: Increasing costs of raw materials and lack of resources are some factors to hinder the market growth.
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Covid-19 Impact on the Modified Starch Market
The onset of the Covid-19 pandemic has had an adverse effect on the global modified starch market due to reduced production of wheat, maize/corn, rice, potatoes, etc. that are majorly used to manufacture modified starch. The spread of the coronavirus was widely seen in top modified starch producing countries like Europe, India, Russia, China, Ukraine, etc. which had announced strict lockdowns. In addition, lack of labor and availability of raw materials also hampered the market growth rate during the catastrophic chaos.
Segments of the Modified Starch Market
The report has divided the modified starch market into multiple segments based on type, raw materials, production method, form, function, sales channel, and regional analysis.
Type: Pregelatinized Starch Sub-segment to be Highly Dominant
The pregelatinized starch sub-segment of the global modified starch market is predicted to hold a dominant market share during the analysis years due to its growing use in culinary and pharmaceutical sectors. Pregelatinized starch can be easily obtained from waxy corn, maize, potatoes, etc. and is used as a binder or texturizer. Pregelatinized starch comes in flake and powdered form and dried, boiled, and ground for use in various industries. These factors are projected to boost the sub-segment’s growth by 2030.
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Raw Materials: Corn Sub-segment to be Highly Beneficial
The corn sub-segment is estimated to have the highest growth rate during the analysis timeframe due to its importance in people’s diets. Corn is a widespread staple food round the globe and is widely used in various food applications. Moreover, cornstarch is also used to thicken soups, gravies, sauces, and custards. These factors are anticipated to bolster the sub-segment’s growth rate during the 2021-2030 forecast years.
Production Method: Physical Modification Sub-segment to be Highly Lucrative
The physical modification sub-segment of the global modified starch market is expected to hold a significant market share during the forecast period. Physical modification technique includes three-dimensional changes that occur due to several physical influences like moisture, temperature, pH, pressure, radiation, etc. Moreover, surface characteristics, solubility index, particle size, and other functional features are all affected by physical modification, thus propelling the sub-segment’s growth by 2030.
Form: Dry Sub-segment to Have Highest Growth Rate
The dry sub-segment is predicted to have a dominant market share during the forecast period due to its extensive application in frozen food products. Dry starch offers several benefits like additional convenience, high performance, flexibility, dispensability, etc. Moreover, the rising demand for ready to cook food with nutritional value requires roll-dried starch in the preparation. These factors are projected to uplift the sub-segment’s growth by 2030.
Function: Thickeners Sub-segment to be Highly Progressive
The thickeners sub-segment of the global modified starch market is estimated to have the highest growth rate by 2030 due to their wide application in protein-rich foods, snacks, and nutritional foods. Hydrocolloids, starch, and proteins are considered as thickeners and are employed as gelling agents, for stabilizing, and thickening in the baking industry. These factors are anticipated to augment the sub-segment’s growth.
Sales Channel: Offline Sub-segment to be the Most Advantageous
The offline sub-segment is expected to have the largest market share and highest growth rate during the analysis years due to an increasing number of offline retail stores worldwide and the rising demand for modified starch. Moreover, people’s growing requirement for simpler and instant shopping experience is also predicted to boost the sub-segment’s growth by 2030.
Region: Modified Starch Market in the Asia-Pacific Region to Have Better Growth Opportunities
The modified starch market in the Asia-Pacific region is projected to witness better growth opportunities during the forecast years due to the wide applications f modified starch as thickeners in food preparations, especially sauces, gravies, and custards. Moreover, growing markets for sauces and condiments along with surging demand for convenient food products in countries like India, China, and South Korea are some more factors to propel the market growth in the Asia-Pacific region.
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Key Modified Starch Market Players
Some key modified starch market players include
- Tirupati Starch & Chemicals Ltd.
- Honest Derivatives Pvt. Ltd.
- Ulrick and Short Ltd.
- Sanstar Bio – Polymers Ltd.
- SPACSTARCH PRODUCTS (INDIA) LTD.
- Shubham Starch Chem (P) Ltd.
- Everest Starch (IND) Pvt. Ltd.
- Penford Corp.
- Angel Starch & Food Pvt Ltd.
- AGRANA Strke GmbH., among others.
These key players are undertaking various strategies such as product development and enhancement, merger and acquisition, partnerships and collaborations to sustain the market growth. – Inquire here before buying full report
For example, in November 2021, KMC, a potato starch manufacturer that specializes in converting potato protein and starch into valuable products used in livestock, food, and pet food, introduced its new pellet binder which is made of potato starch. This binder creates better quality feed pellet and adds an easily digestible energy to the pellet.
The report also summarizes many important faces including financial performance of the key market players, SWOT analysis, product portfolio, and the latest strategic developments.
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