Apart from being the largest market for starch derivatives in Asia-Pacific, with an estimated share of 38% in 2016, China is also projected to be the fastest growing, with a forecast CAGR of about 8.5% between 2017 and 2022. Cornering an estimated share of 42% in 2016, glucose syrup constitutes the most widely utilized category of starch derivatives used in China. However, demand for maltodextrin is expected to register the fastest CAGR of over 7% during the aforementioned analysis period. In terms of application, though maximum consumption of starch derivatives in China is by the food & beverage industry, fastest growth in demand is anticipated to be recorded by the pharmaceutical industry.
The production of starch derivatives involves the chemical reaction of hydroxyl groups of raw starches with a variety of functional groups. This helps in transforming the raw starches through the elimination of several deficiencies inherent in them and imparting beneficial properties for a range of applications. Starch derivatives comprise a number of products with unique characteristics that include stability in fluid paste, gelatinization, outstanding fluid viscosity, chemical resistance and electrical property, among others.
The sector of starch derivatives has been evolving as a consequence of technological advancements, which has resulted in the introduction of innovative products and solutions. The market for starch derivatives has been increasing because of growing demand for convenience foods and beverages in the emerging countries. In addition, the functional properties possessed by starch derivatives has also been instrumental in promoting their use in the pharmaceutical, cosmetic and bioethanol industries. Cyclodextrin, glucose syrup, hydrolysates, maltodextrin and modified starches are the various types of starch derivatives considered in this report, which are derived through the chemical, physical or enzymatic treatment of native starch.
Raw material suppliers, processors and the final product manufacturers constitute the various stakeholders in the starch derivatives industry. Major producers of starch derivatives have been engaged in the strategies of focusing on innovation in products, expanding current operations and commencing new ones and investing in products of other companies, among others. While the leading five companies account for a substantial share of the global starch derivatives market, small and medium players too have made significant contributions to the industry.
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