Starch Derivatives Market Poised to Expand at a Robust CAGR by 2031...

Starch Derivatives Market Poised to Expand at a Robust CAGR by 2031

Posted 2024-05-23 11:10:42

791

The global starch derivatives market has been growing steadily owing to the wide variety of applications of starch in various end-use industries such as food and beverages, paper, textile, pharmaceuticals, and cosmetics among others. Starch derivatives have emerged as viable substitutes for petroleum-based polymers due to their eco-friendly nature and biodegradability. Properties such as viscosity modification and thickening abilities have augmented the demand for starch derivatives in the food industry for pastes, syrups, and soups. Starch derivatives provide excellent film-forming properties that enable applications in pharmaceutical and industrial coatings.

The Global starch derivatives market is estimated to be valued at US$ 60.31 Bn in 2024 and is expected to exhibit a CAGR of 3.5% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the Starch Derivatives are Cargill, Incorporated , ADM , Tate Lyle PLC , Roquette freres , AGRANA Beteiligungs-AG , Ingredion Incorporated , Green Processing Corp. (GPC) , Avebe , Emsland Group. Key players are focusing on expanding their product portfolio and global footprint to leverage lucrative growth opportunities.

The demand for starch derivatives is growing significantly owing to the various applications in industries such as food, paper, textiles, and pharmaceuticals. Properties such as biodegradability, thickening and film-forming abilities have augmented the demand for starch derivatives.

Major players are investing in expanding their global reach by establishing production and distribution facilities across Asia Pacific, North America, and Europe. Furthermore, the adoption of sustainable and eco-friendly products is expected to drive the global starch derivatives market during the forecast period.

Market Key Trends

One of the key trends gaining traction in the Starch Derivatives Market Size is the rising popularity of bio-based and biodegradable products. The adverse effects of plastics on the environment have led to the increasing demand for biodegradable and sustainable alternatives. Starch derivatives are plant-based materials that degrade quickly in the natural environment and don't release toxic substances. Furthermore, regulations prohibiting single-use plastic are expected to propel the adoption of starch derivatives in packaging solutions. Additionally, advancement in modification technologies have enabled starch derivatives to imitate petroleum-based polymers, thereby augmenting their utility in various applications. Overall, the eco-friendly and sustainable nature combined with versatility is expected to be the major driver contributing to the growth of the global starch derivatives market in the coming years.