Industrial Starches Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Overview

The industrial starches market was valued at USD 55,047.80 million in 2020, and it is projected to reach a CAGR of 5.73% during the forecast period (2021-2026).

The COVID-19 outbreak has impacted demand for industrial starch globally. For instance, according to the All India Starch Manufacturers Association, the industry was down by 40-50% in May 2020, owing to the subdued market demand triggered by the COVID-19 lockdown. The bulk corn starch user segments of textile and paper were down, and unless they operated at near optimum capacity, the corn starch space would continue to be in a lower trajectory. However, although pharmaceuticals account for a minor share of corn starch supplies, manufacturers are looking to offset losses through growth in downstream pharmaceuticals.

Starch is a carbohydrate extracted from agricultural raw materials, which finds applications in literally thousands of everyday food and non-food products. Industrial starches are derived from various sources, including corn, potato, wheat, and other sources. With the global economy gradually improving and resulting in an increased intake of processed and convenience foods, the market for industrial starch, which finds substantial usage in these food applications, is finding increased demand, thereby driving the overall market.

The demand for modified starches is increasing in parallel to the rapid development of the food industry. Modified starches offer a tremendous number of functional benefits to various foods, such as bakeries, snacks, beverages, and nutritional foods.

Moreover, manufacturers are readily inculcating the clean label trend in their products to gain market share. For example, Tate & Lyle expanded the portfolio of CLARIA® Functional Clean-Label Starches with the introduction of two new instant starch products: CLARIA® Instant 340 and 360.

Scope of the Report

Industrial starch is derived from various natural sources such as wheat, corn, cassava, potato, and other sources. Industrial starch is extensively used in the paper industry during the manufacturing and coating process. The global industrial starch market is segmented by type into native and starch derivatives and sweeteners. On the basis of source, the market is segmented into corn, wheat, cassava, potato, and other sources. By application, the market is segmented into food and beverage, feed, paper industry, pharmaceutical industry, and other applications. Also, the report provides global insights into the industrial starches market in the major economies across regions, including North America, Europe, Asia-Pacific, South America, and Middle-East and Africa. For each segment, the market sizing and forecasting have been done in value terms of USD million.

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Key Market Trends

Expanding Applications of Starch in the Bioplastic Industry

The demand for renewable biopolymers is growing, where these are considered alternatives to synthetic polymers. Starch is one of the abundant polymers in nature. Native and modified starches are used in a wide variety of food and non-food applications. It has been extensively studied because it is abundant, cheap, biodegradable, and edible. Starch-based plastics are complex blends of starch with compostable polyesters. Major bioplastics players, BASF and Novamont, have both launched highly sustainable solutions for fresh-food packaging in two major compostable cling film breakthroughs. BASF SE offers certified compostable ecovio material, while Novamont provides MATER-BI material, replacing the hard-to-recycle conventional plastics, like polyethylene (PE), while increasing product shelf-life, thus, tackling both plastic pollution and food waste simultaneously.

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