Industrial Starch Market Insights of Competitor Analysis, and Forecast 2030
Industrial Starch Market Overview
Starch is an essential part of adhesive formulations and has a vast number of industrial applications to its name. Industrial starch is derived from several natural sources like rice, tapioca, wheat, potato, and maize. It is primarily consumed the most across the food industry, wherein it is used to manufacture a number of products. This includes bakery products, canned jams and fruits, confectionaries, monosodium glutamate (MSG), and commercial caramel. Its application stretches into the non-food industry like textile, building materials, paper, mining, and consumer products industries. Industrial starch is used extensively in the paper industry for the manufacturing and coating operations. It is used in the textile industry for cloth printing and finishing. It is used for the well-drilling process in the mining industry. When starch is mixed with clay, it provides a mixture that has proper water holding capability and viscosity to be used for drilling oil wells. Industrial starch is firstly transformed into sugars by malting it down. Following this, it is fermented to yield ethanol to manufacture whiskey, biofuel, and beer. When dissolved into warm water, industrial starch has a number of applications such as adhesives, thickeners, emulsifiers, and others. The starch is extracted and refined from roots, tubers, and seeds with the help of various processes such as sleeving, wet grinding, washing, and drying. The global industrial starches market is projected to grow at a CAGR of 4% from 2022 to 2030.
Industrial Starch Market is expected to garner a revenue of USD 121 billion by 2030 with a CAGR of approximately 6.10% during the forecast period, 2022-2030
According to the latest in-depth research conducted by the Market Research Future (MRFR), there is a rising demand for adhesive from the packaging industry with the proliferating growth of the e-commerce industry. Additionally, the growing demand for fast foods is also growing due to the convenience it offers. These two factors are the major driving forces for the industrial starches market.
Competitive Analysis
The leading players in the global Industrial Starches market includes Ingredion Incorporated (U.S.), Tate & Lyle PLC (U.K.), Roquette Frères (France), Cargill, Agrana Beteiligungs-AG (Austria), Archer Daniels Midland Company (U.S.), Grain Processing Corporation (U.S.), Incorporated (U.S.), and Ingredion Incorporated (U.S.).
Market Segmentation
The industrial starch market outlook is segmented on the basis of source, type, form, application, and non-food applications.
On the basis of source, the industrial starch market is divided into wheat, corn, potato, cassava, and other sources.
On the basis of form, the market segmentation includes liquid, gel, powder, and others.
On the basis of application, the market comprises food and beverage and non-food applications. Under food-based applications, the market includes processed foods, confectioneries, and others.
On the basis of non-food applications, the industrial starch market includes personal care, corrugation and papermaking, pharmaceuticals, textiles, and others. The other segment includes construction and building, mining and drilling, chemicals, adhesives, and animal feed.
Regional Analysis
In terms of geography, the industrial starch market insights report covers the entire globe. North America, Asia Pacific, China, and Europe are a few well-known areas where this market is present and thriving.
Amongst these regions, North America holds a majority of the industrial starch market share followed up by APAC. Additionally, the APAC region is slated to grow at the fastest rate during the coming years due to the rising consumption of starch derivatives and sweeteners therein.
North America, the dominant player in the industrial starch market, is anticipated to reach a volume of 43.92 MMT in 2030 with a CAGR of 3.9% during the forecast period, 2022–2030. Because of the lower cost of raw materials and production as well as fewer stringent environmental regulations, APAC sits in a more favourable position to produce starch at the most competitive prices than the developed nations in the European and North American regions.
Industry News
Jan 2019, Archer Daniels Midland (ADM), an American food processing and commodities trading organization, announced its partnership with General Starch Limited (GSL), which is a Thailand-based leading producer of tapioca starch. The move is aimed to extend ADM’s specialty and clean label starch portfolio to support customer solutions.
Sep 2018, A team of researchers from the University of Liege, applied CRISPR-Cas9 gene editing technology to engineer cassava plants which produces a modified form of starch and can be used in demand for both cooking and industrial processing purposes.
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