Market Trends of Bangladesh Starch and Starch Derivative Industry
Food and Beverage is the Fastest Growing Segment
- The food processing sector in Bangladesh comprises fruits and vegetables, cereals, bakery and confectionery, pulses, oilseeds, dairy, carbonated beverages, fruit juices, and other food items. There is a significant increase in demand for all forms of ready-to-eat or convenience food and beverage products, owing to Bangladesh's increasingly busy lifestyles and rising working population. The food processing industry is expected to grow significantly and generate new opportunities for investment and exports for the country.
- The use of modified starch as a stabilizer, thickening agent, and emulsifier in manufacturing, bakery, confectionery, noodles, and other convenience food products is fuelling the demand for starch among food and beverage manufacturers in the country.
- According to the food consumption survey conducted by the Food and Agriculture Organization (FAO) in Bangladesh, young children are provided with starchy food prepared with sago, semolina, rice, and noodles. Such factors have propelled the demand for starch and starch derivatives over the recent past, thus, driving the market's growth.
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Textile Industry Holds the Dominant Share
- Developing countries, like Bangladesh, are dependent on their textile industries. The textile industry forms the second-largest industry in Bangladesh, after agriculture, as it generates 75% of the employment in the country. The majority of the garment workforce includes female workers. Bangladesh is highly dependent on textiles and clothing for merchandise exports (83.5%). The consumption of starch has also increased for the printing and finishing of manufactured garments.
- For instance, tapioca starch is used in the treatment of yarn before weaving. As a result, tapioca production has increased in recent years in Bangladesh. The production of cornstarch has increased massively in the country due to its multiple functions, such as for thickening and as an adhesive. These properties of starch make it an essential ingredient in the textile industry. Thus, the growth of starch and its derivatives is parallel to the textile production in the country.
