PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1423822
PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1423822
The market for modified starch is poised for robust expansion, according to the latest market analysis spanning the forecast period of 2024 to 2031. With a projected Compound Annual Growth Rate (CAGR) of 6.0%, the market is anticipated to witness significant revenue growth from US$ 14 billion to approximately US$ 20 billion by 2031.
Increasing Demand for Processed Food: The rising global population is propelling the demand for processed and convenience foods. Modified starch serves as a crucial ingredient in ready-to-eat food products, offering essential functional properties such as texture, taste, and shelf life enhancement.
Growing Industrial Applications: Modified starch finds widespread usage across diverse industries including food, textile, papermaking, and cosmetics. Particularly in the textile industry, starch plays a vital role in sizing cotton yarns, offering versatility and good adhesion properties.
Expanding Cosmetic and Personal Care Industry: With a surge in demand for natural cosmetic products, manufacturers are increasingly incorporating modified starch as a multifunctional additive to meet consumer preferences for easier application and improved product performance.
Rise in Fast Food Consumption: The proliferation of fast food restaurants worldwide is driving the demand for modified starch, which is extensively used to enhance the texture, flavor, and taste of fast food dishes, catering to evolving consumer preferences for convenience and affordability.
Preference for Convenience Food: The growing population of working professionals with hectic lifestyles favors convenience food options, leading to increased demand for modified starch in various ready-to-consume food products such as bakery items and snacks.
Asia-Pacific Region to Witness Rapid Growth: The Asia-Pacific region is expected to experience the fastest growth with a forecasted CAGR of 5.7%, while North America is projected to dominate the market and hold a significant market share by 2031.
Maize/Corn Segment Leads Market: Among different sources of modified starch, the maize/corn segment is anticipated to command the highest share in the global market, followed by wheat.
Segmental Breakdown: The market is segmented based on source (maize/corn, wheat, potato, tapioca, rice), product type (acetylated starch, physically modified starch, enzyme modified starch), and application (food and beverage, animal feed, cosmetics and personal care, papermaking, textiles, pharmaceuticals).
Key players such as Cargill, Archer Daniels Midland, Roquette Freres, Ingredion, Tate & Lyle, The Agrana Group, and others are spearheading growth in the modified starch market. By prioritizing innovation and partnerships with regional food manufacturers, they aim to expand market reach and offer gluten-free, low-fat, non-GMO products tailored to diverse industry needs. Through customized solutions and improved nutritional profiles, they anticipate sustained market growth and consumer satisfaction.
Key companies profiled
Modified Starch Industry Research by Category