The market for starch derivatives is expected to maintain a CAGR of about 7.2% between 2018 and 2023. 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.
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. By product type, glucose syrup is the largest because of its extensive utilization in food and beverage applications. However, in terms of growth, demand maltodextrin is expected to record the fastest pace due to its widening scope of application, such as a flavor carrier, humectant, viscosifier and dispersing agent, in addition to as a functional ingredient. Food & beverage constitutes the largest end-use area for starch derivatives, which primarily find application as stabilizers, thickeners and sugar replacers, in addition to fulfilling functional properties as fat replacers. On the other hand, consumption of starch derivatives in pharmaceutical applications has been gaining in momentum due to research and development initiatives in this sector giving rise to new uses of starch derivatives.
Starch derivatives comprise of a number of products with unique characteristics that include stability in fluid paste, gelatinization, outstanding fluid viscosity, chemical resistance and electrical property, among others.
Asia-Pacific constitutes the largest market for starch derivatives, accounting for an estimated share of 38% in 2016. Europe’s starch derivatives market has the second major share. The fastest growth in demand is likely to be registered by South America and rest of the world markets. North America has the lowest growth rate.
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. Cargill Inc., ADM, Ingredion, Penford, Tate & Lyle, and Roquette are the leading players in the market.
Sorini Agro Asia Corporindo, which is controlled by Cargill, has announced that it would go private and delist its shares from the Indonesian Stock Exchange (IDX).
Our report on Starch Derivatives Market covers the following: