The global Modified Starch market Size is projected to around USD 16.0 billion by 2026, the market is projected to grow with 6.0% CAGR during the forecast time frame. Increase in demand for better food products paired with favourable government regulation drives the global modified starch market.
Higher acceptance of convenience food paired with enormousneed from Asia Pacific is likely to increase the market growth. Increasing consumer concern about nutrition and health along with inclination for healthy diet is anticipated to be a major market driver. Growing need for natural sweeteners in energy drinks and non-carbonated soft drinks is also driving the growth of the modified starch market during the forthcoming years.
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Organizations are spending vigorously on R&D for assembling powerful water soluble modified starches, bringing about unique economic situations. Huge ascent in product advancement to upgrade product portfolio, access undiscovered markets, and to profit synergetic advantages has made development roads for the market players. Organizations have expanded their quality over the value chain by incorporating and differentiating their item portfolio. Organizations, for example, Cargill, Inc., Ingredion Incorporated, and Roquette Frères are integrated at various phases of the value chain.
Technological advancements and innovation in India, China, and Brazil to create inventive products are relied upon to make new open avenues for the development of the modified starch market. Expanding government support to natural ingredients will open new avenues during the forthcoming years. The worldwide market is relied upon to develop altogether amid the figure time frame by virtue of utilization of the products in various applications including food and beverage, paper, pharmaceuticals, material, and coatings, glues, and biodegradable polymers among others.
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Rising use of modified starch in various sectors such as textile industry is relied upon to drive the worldwide market in not so distant future. It is additionally growing use of modified starches, for instance, starch esters, starch graft copolymers, cationic starches,and starch ethers in textile industry will result in driving and improving the penetration of the product in the textile industry.These starches are utilized in printing and completing applications in materials and as substitute to polyvinyl liquor.
The global modified starch market is segmented into product, application, material, function and region. On the basis of product the global modified starch market is segmented into starch esters & ethers, resistant, cationic, pre-gelatinized, and others. On the basis of application the global modified starch market is segmented into food & beverage, animal feed, paper, pharmaceuticals, textiles, and others. On the basis of the material the global modified starch market is segmented into corn, cassava, wheat, potato, and others. On the basis of the function the global modified starch market is segmented into stabilizers, thickeners, emulsifiers, binders, others. On the basis of region the global Modified Starch market is segmented into Latin America, Europe, Asia Pacific, North America, and Middle East & Africa.
North America captures the largest global market share and held over 45% revenue share in 2018. Increasing prominence of low fat food in U.S. is anticipated to drive the regional market. U.S. is one of the foremost manufacturers of corn and corn starch in the globe. The market in U.S. is anticipated to grow considerably on account of high exports and production. Canada, being the second largest contributor in North America, is also anticipated to boost the modified starch market due to growing prominence of animal feed in rising healthy cattle. Increasing need from animal feed and food and beverage industry is expected to boost the regional expansion in forthcoming years.
Favourable government policies in agriculture trade sponsoring usage of modified starch products and attractive investments have shaped new development opportunities in APAC region. Nations such as China, India, South Korea, Japan, and Taiwan depend on agriculture to some extent for economic development on account of it being a major contributor to their GDP. APAC region captures a major share of the global production with speedy growth in developing economies. Development of the Asia Pacific textile industry is anticipated to further boost the regional market for modified starch market.
The key players catering to the global Modified Starch market are Archer Daniels Midland Company Agrana Beteiligungs-Ag,Global Bio-Chem Technology Group Company Limited,Emsland-Starke GmbH,Cargill, Incorporated and Avebe U.A.
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