Modified Starch Market is anticipated to grow at a CAGR of 3.6% from 2019 to 2030
Market Industry Reports (MIR) has published a new report titled “Modified Starch Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global modified starch market is estimated to be over US$ 10.6 Bn in 2019. It is anticipated to grow at a CAGR of 3.6% from 2019 to 2030.
The significant growth of the market can be attributed to increasing adoption of convenient & packaged food products. Moreover, factors such as wide range of application of starch across different industries is anticipated to significantly contribute to the growth of the global modified starch market during the forecast period. However, the higher cost of raw materials and availability alternative options can hinder the market to a certain extent.
Changing lifestyle & consumption pattern of the population have resulted in wide scale induction of packed & convenient food in the daily diet. Modified starch acts as a food additive, which is widely used in the food & beverage industry as a thickening agent or a stabilizer. The growth of food & beverage industry have in turn led to the growth of the global modified starch market.
The wide range of application of modified starch is one of the major fuelling the growth of the global modified starch market. Modified starch is used in textiles industry, paper making, food & beverage industry and pharmaceutical industries, among others. The application of this product is generally preferred in the food & beverage industry as it does not change the flavor when added in food products or beverages. Similarly, modified starch is also used in textile industries for processing or finishing of clothing materials, as it acts as a good binding agent, moreover helps in increasing stiffness as well as flexibility of the fabric.
Browse key industry insights spread across 190 pages with market data tables & figures & charts from the report, Modified Starch Market by Raw Material (Corns, Cassava, Potato and Wheat), Modification Type (Physical Modification, Chemical Modification and Resistant Starch), Function (Thickeners, Stabilizers, Binders and Emulsifiers), Application (Food & Beverages, Animal Feed and Industrial) - Global Analysis & Forecast 2019-2030 in detail along with the table of contents:https://www.marketindustryreports.com/modified-starch-market/159
However, higher cost of the raw materials can act as a restrain for the growth of the market to a certain extent. Similarly, alternative ingredients like Gum Arabic which is used in beverage industry as an alternative also hinders the modified starch market growth significantly.
Asia Pacific is estimated to account for the highest CAGR in modified starch market during forecast period. In recent times, consumption patterns have been deeply affected by changing lifestyle habits, this in turn has directly resulted in increased adoption of ready-to-eat packaged and convenient food. Additionally, increasing application of modified starch across diverse industrial verticals such as textile, paper making, and pharmaceutical industries are also anticipated to play a pivotal role in propelling the growth of modified starch market.
Some of the prominent players in the global modified starch market include Cargill, Incorporated., ADM, Ingredion, Tate & Lyle, Roquette Frères., Avebe, SMA Corporation, SAMYANG HOLDINGS CORPORATION, BENEO and Sonish Starch among others.
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