According to the latest report by Renub Research, titled “Modified Starch Market, Production & Forecast, Sectors (Corn, Wheat, Cassava, Potato), Regions, Segments, Company Analysis” Modified starch is formed by morphological or physicochemical changes to the structure of native starch, through its treatment with heat, acids, alkalis, and enzymes. This treatment increased the capacity for water retention, heat resistance, binding features, and thickening properties. Some of the primary raw materials from modified starches are maize, potato, wheat, and cassava. According to Renub Research analysis, Modified Starch Market is estimated to be more than US$ 14.9 Billion by 2026.
This growth in the market is due to growing inclusion in a wide range of foods and the cost-effectiveness provided by them, it is experiencing substantial development, along with the enhanced features they provide compared to native starch. The rising demand among consumers for processed and convenience food is generating a demand for modified starch. The integration of modified starch across different industries is growing with the advancement of new technology and groundbreaking studies in the food and beverage industry. Due to its high production of processed food, the Asia Pacific segment is going to dominate the market.
The demand of Modified Starch has increased due to its ability to improve food texture and shelf life, increased consumption of these items in bakery, dairy, and convenience foods is expected to propel their market further. The segment will also be powered by a positive food & beverage industry outlook in developing countries. Significant growth in the pharmaceutical industry is also expected to occur in these emerging economies due to growing market demand for advanced medicines, which in turn will propel product demand over the forecast period.
The Impact of COVID-19 on Modified Starch Market
The coronavirus (COVID-19) effects are already beginning to be felt and will have a significant impact on the Modified Starch Market in 2020. The global economy was influenced in three main ways by COVID-19: by directly impacting production and market instability and demand, by building a supply chain and by its economic effect on businesses and financial markets.
Based on raw materials, the modified starch market is categorized as Wheat, Corn, Potato and Cassava. The modified starches are utilized in all starch applications, likewise thickening agent, emulsifier, binder and stabilizer in food and non-food sector. Besides, the modified starch market is additionally segmented based on its use in numerous sectors like Confectionery and Drinks, Pharmaceuticals and Chemicals Corrugating and Paper Making, Processed food, Feed and other non-food. Modified starch is widely utilized in dairy products and confectionery, bakery to enhance their texture and stability and in the pharmaceutical industry; it operates in the formulation of tablets. Generally, the market is segmented by application, by company, and by region for the viable landscape analysis.
Based on regions, the modified starch market has segmented into the Americas, Europe, Asia-Pacific and Rest of World. the Americas and Asia-Pacific mostly dominate the modified starch market. the world starch market is primarily driven by factors like increasing consumption of processed food and food. The Asia Pacific is predicted to be the fastest-growing regional market. Asian countries, especially China, have emerged as leading destinations, thereby facilitating the market shift from developed economies to developing economies.
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Market Summary:
By Sector: This research report provides the market by the following sectors: Corn, Wheat, Cassava, and Potato.
By Regions: The market and market share of the following regions: Americas, Europe, Asia Pacific, and Rest of World are covered in the research report.
By Segments: This research report provides market and market share of Confectionery & Drinks, Processed Food, Corrugating & Paper Making, Feed, Pharmaceuticals & Chemicals, and Non-food.
By Company: This research report has covered Company overview, recent developments/ initiatives and revenue analysis for Cargill, Ingredion, Archer Daniels Midland Company and Tate & Lyle.
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