Global Industrial Starches Market Report and Forecast 2024-2032

Global Industrial Starches Market Outlook

The global market for industrial starches reached a value of about USD 57.24 billion in 2023. The industry is further expected to grow at a CAGR of about 5.3% in the forecast period of 2024-2032 to reach a value of around USD 91.12 billion by 2032.

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North America and Asia Pacific to be Significant Regional Markets for Industrial Starches

With a highly developed food industry utilising all ingredients, North America is expected to dominate the global market for industrial starches. The presence of several multinational food manufacturing and processing enterprises in the region has resulted in a rise in demand for industrial starch. The United States is one of the world's leading producers of corn, which is used in a variety of applications, including starch production. The industrial starches market is heavily oriented toward the consumption of gluten-free foods, which is bolstered by the country's government's tight regulations on gluten-free ingredient labelling. As a result, the majority of modified dietary starches originating from corn, waxy maize, and potatoes in the United States are gluten-free. The Canadian industrial starches industry is growing rapidly, owing to rising consumer demand for healthy and cleaner ingredients. Light-coloured applications with subtle flavours drive the demand for native starches in the country.

Due to the substantial growth of the manufacturing sector in the area, Asia Pacific is predicted to have the highest revenue based CAGR from 2023 to 2027. Several pharmaceutical companies, including Serum Institute of India Pvt. Ltd, Hyphen's Pharma, and Kalbe's Pharma are expected to support the product demand in the Asia Pacific. Due to its biocompatibility and gel-forming capacity, industrial starch is utilised in the manufacturing of tablets and capsules. The rise of several end-use sectors, including food, paper, and textiles, is likely to further augment the market growth in the region.

Market Segmentations

Starches are derived from a range of food sources, including wheat, potato, and maize, and are utilised in a variety of industries, including paper, food, printing, textiles, and many others. Plants produce starch, which is an edible polymer. It is widely used in the culinary and pharmaceutical sectors. The most common commercial sources of starch include corn, rice, potato, tapioca, and wheat.

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The various sources of industrial starches in the market are:

• Corn
• Wheat
• Cassava
• Potato
• Others

Based on type, the market is divided into:

• Native
• Starch Derivatives and Sweeteners

The major applications of the market are:

• Food
• Feed
• Paper Industry
• Pharmaceutical Industry
• Others

The regional markets for the industrial starches market can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.

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Rapid Growth of Food and Food Processing Industry Augmenting the Market Growth

The rapid growth of the food and food processing industry is the major driver of the growth of the global industrial starch market. They are used in manufacturing a wide range of products in the food industry. The product is used to manufacture frozen, packaged, and convenience food products. The demand for such foods is rapidly increasing, particularly in emerging nations, which is projected to impact the market's growth positively. Over the forecast period, the increased use of industrial starch as a thickening, stabilising, and gelling agent, binder, diluent, and excipient, is expected to drive up the demand for the product. To build a footing in the market, industry players have been focused on various strategies such as mergers, expansions, and new product development. Cargill, Incorporated, for example, introduced label-friendly tapioca under the SimPure line in March 2021. Previously, SimPure products were exclusively created with waxy maize and potato-based starches. Tapioca starch provides a soft texture, strong water-binding properties, and cold-storage stability.

Furthermore, the rising pharmaceutical and biotechnology sectors, and growing demand from the paper and wallboard industries for wheat starch due to its adhesive properties, consistent viscosity, and better performance, are propelling the market forward. Along with this, improvements in the production process and the development of wastewater treatment technologies will boost the opportunities for the growth of the industrial starch market.

Key Players in the Global Market for Industrial Starches

The report gives a detailed analysis of the following key players in the global industrial starches market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Cargill Incorporated
• Archer Daniels Midland Company
• Ingredion Incorporated
• Tate & Lyle PLC
• AGRANA Beteiligungs-AG
• Roquette Frères
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report