Industrial Starch Market Current And Future Industry Landscape Analysis Report 2028

Industrial Starch Industry Overview

The global industrial starch market size was valued at USD 97.85 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 7.0% from 2020 to 2028.

The growing application of industrial starch as a thickening, stabilizing, and gelling agent, binder, diluent, and excipient is anticipated to generate high demand for the product over the forecast period. The growth of the food and beverage industry is likely to be a major factor driving the demand for industrial starch. The product is used for the manufacturing of frozen, packaged, and convenience food products. The demand for such food products is increasing at a rapid rate, especially in developing countries, which is likely to influence the industry growth on a positive note.

Gather more insights about the market drivers, restrains and growth of the Global Industrial Starch Market

Starch is manufactured using various sources, including corn, potato, and wheat. As of 2020, the U.S. is the largest corn producer and exporter in the world. The abundant availability of raw materials, coupled with the well-established manufacturing sector in the country, is expected to be a key factor for the industry growth in the U.S.

The flourishing food and beverages industry, especially in emerging economies, such as India and China, has increased the number of buyers of industrial starch in these markets. Cost competitiveness and product quality are likely to be the key factors influencing the buyer's decision. Low switching costs and the presence of several manufacturers across the globe have resulted in high buyer power.

The industry players have been focusing on various strategies such as mergers, expansions, and new product development to gain a foothold in the market. For instance, in March 2021, Cargill, Incorporated introduced label-friendly tapioca under the SimPure line. SimPure products were earlier made only using waxy corn- and potato-based starches. Tapioca starch provides soft texture, strong water-binding properties, and cold-storage stability.

The market is expected to face competition from alternatives, such as alginates, guar gum, gum Arabic, and agar, used in various end-use industries. However, the high scope for product penetration in the continuously innovating food and beverage industry is expected to open new growth opportunities for the industry.

Browse through Grand View Research's Nutraceuticals & Functional Foods Industry Research Reports.

• Alginate Market - The global alginate market size was valued at USD 728.4 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.0% from 2021 to 2028.
• Guar Gum Market - The global guar gum market size was valued at USD 525.3 million in 2017 and is expected to register a CAGR of 4.4% from 2018 to 2025.

Market Share Insights

• March 2021: Ingredion Incorporated launched PURITY P 1002, a pea starch to strengthen its plant-based portfolio. The product provides improved texture for applications ranging from plant-based cheese to gluten-free baked goods to gelatin-free confectionery.
• November 2019: AGRANA Beteiligungs-AG announced an expansion of wheat starch production in Pischelsdorf, Lower Austria as wheat starch is used in the production of noodles and bakery products due to its growing demand.

Key Companies profiled:

Some prominent players in the global industrial starch market include

• Cargill, Incorporated
• Archer Daniels Midland Company
• Ingredion Incorporated
• Tate & Lyle PLC
• AGRANA Beteiligungs-AG
• Grain Processing Corporation
• Roquette Frères
• Tereos Group
• Royal Cosun
• Altia Industrial
• Global Bio-chem Technology Group Company Limited
• General Starch Limited
• Eiamheng
• Coöperatie Koninklijke Avebe U.A.
• Galam Group

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