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The market for rice starch is increasing owing to the extensive use of the product in the food industry, chemical industry, pharmaceutical industry, and cosmetic industry. Rice starch is used in a range of products like jarred baby foods, processed food mixes, and pharmaceutical medicines. The rising demand for these products, due to increasing disposable incomes, rapid urbanisation, and lifestyle shifts, is aiding the market growth of rice starch. The product is in high demand as it provides a smooth and creamy texture to several prepared foods, consequently augmenting the market growth.
The food-grade segment holds a significant share of the market and is expected to grow rapidly. This is expected to propel the market growth in the forecast period. Further, the product is extensively used by the cosmetic and personal care products manufacturers on a large scale. Hence, the rice starch industry is predicted to accelerate over the forecast period.
In 2017, Ingredion Incorporated (NYSE: INGR), which is an American ingredient provider and a major player in the industry, completed its acquisition of rice ingredients business, which includes rice starch and rice flour from Sun Flour Industry Co, Ltd., which is based in Banglen, Thailand. Such acquisition and mergers are expected to provide a further push to the rice starch industry.
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Ingredion Incorporated, AGRANA Beteiligungs-AG, Bangkok Starch Industrial Co., Ltd., Thai Flour Industry Co., Ltd, Herba Ingredients BV, and Jiangxi Golden Agriculture Biotech Co., Ltd., among others, are the key players in the global rice starch market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.
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