The South America starch derivatives market is expected to register a CAGR of 8.8 %, during the period of 2018-2023. 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. Consumption of starch derivatives in pharmaceutical applications has been gaining in momentum due to research and development initiatives.
The South American starch derivatives market 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 & beverages in the emerging countries. In addition, the functional properties possessed by starch derivatives have also been instrumental in promoting their use in the pharmaceutical, cosmetic, and bioethanol industries.
Cyclodextrin, glucose syrup, hydro lysates, malt dextrin, 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 & beverage applications. However, in terms of growth, demand malt dextrin 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.
Brazil constitutes the largest, as also the fastest growing starch derivatives market in South America, with an estimated share of 49% in 2017 and a forecast compounded annual rate of 9.5%. While utilization of starch derivatives for food & beverage applications is the highest in South America, demand from the pharmaceutical industry is likely to maintain fastest growth.
Major Players - Agrana Group, Archer Daniels Midland Company, Avebe U.A., Cargill Inc, Emsland-Starke GmbH, Grain Processing Corp, Ingredion Inc, Penford, Roquette, Tate & Lyle, among others.
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