Market Size of Sri Lanka Starch and Starch Derivative Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.20 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Sri Lanka Starch & Starch Derivative Market Analysis
The Sri Lankan starch and starch derivative market is projected to grow at a CAGR of 5.2% during the forecast period 2020-2025.
- The market is majorly driven by the wide range of applications it provides in different sectors such as detergents, textile, pulp and paper industries, organic synthesis, and biofuel industry, along with the food and beverage industries. The market growth is highly impacted by the growth of the processing food industry and export-import factors.
- Moreover, government support in the country has further fueled the market growth as the Sri Lankan government is supporting foreign investment, and is aiming for the country to be recognized as one of the major corn and rice starch producers in the world.
- However, high dependency on imports to fulfill the growing demand for starch and starch derivatives are restraining the market growth across the country. Thailand is one of the major exporters of modified starches to Sri Lanka, and it contributes a major share of modified starch import in Sri Lanka.
