PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1386903
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1386903
Scope of the Report | |
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Years Considered for the Study | 2023-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Units Considered | Value (USD), Volume (Ton) |
Segments | By Type, Source, Form, Application, Functionality (qualitative), and Region |
Regions covered | North America, Europe, Asia Pacific, South America, and ROW |
According to MarketsandMarkets, the Starch Derivatives market is projected to reach USD 68.4 billion by 2028 from USD 57.9 billion by 2023, at a CAGR of 3.4% during the forecast period in terms of value. The Starch Derivatives market comprises both dry and liquid forms; the dry form holds a larger market share and is also projected to be the fastest-growing segment. On the other side, the liquid form is also projected to grow at a significant rate due to its ability to elevate the texture and consistency of liquid delights.
The demand for dry form starch derivatives is driven mainly due to factors such as cost-effectiveness, longer shelf lives, moisture absorption, and better texturizing properties. The major constraints and challenges in the market are the non-standardized international quality regulations for starch derivatives, limited raw material availability, and cultural restrictions on gelatin which, in turn, hinder the growth of the Starch Derivatives market.
"By application, feed is estimated to hold a significant market share during the forecast period."
The increasing global demand for meat and animal products, particularly in emerging markets, is boosting the demand for animal feed. Starch derivatives, such as corn-based glucose syrup and maltodextrin, are used in feed formulations to provide a concentrated energy source for livestock, improving growth and efficiency. The feed industry is experiencing a shift towards enhanced nutritional and functional attributes in animal feed to meet evolving consumer expectations and animal welfare standards. Starch derivatives are utilized for their binding, texturizing, and nutritional benefits in animal feed, further fueling their market share.
Moreover, the rising trend of aquaculture, which relies on feed additives, including starch derivatives, is contributing to this growth. This shift towards more sustainable and nutritious animal nutrition is driving the market share of starch derivatives in the feed industry during the forecast period.
"By form, the dry form is expected to dominate the market for Starch Derivatives."
Dry forms of starch derivatives are favored for their longer shelf life, cost-effectiveness, and ease of handling and storage. They require less storage space and are less prone to microbial spoilage, which enhances their suitability for long-term storage and transportation, reducing operational costs. Additionally, the reduced weight and volume of dry derivatives make them economical for shipping and handling. They find extensive use in a wide range of applications, from food and beverages to industrial processes, making them a practical choice for various industries. Their adaptability to diverse manufacturing processes, such as extrusion and spray drying, adds to their appeal.
Furthermore, the rise of convenience and processed food products has increased the demand for dry starch derivatives as stabilizers, thickeners, and texturizing agents, further reinforcing their dominance in the market. The dry form's widespread applications and economic advantages make it the preferred choice in the starch derivatives market.
"Europe will significantly contribute towards market growth during the forecast period."
Europe places a strong emphasis on food and beverage quality, safety, and innovation. This drives the demand for starch derivatives in various applications such as thickeners, stabilizers, and texturizing agents, which are crucial for creating high-quality products. Europe has been proactive in embracing eco-friendly and sustainable solutions. Starch derivatives, including those derived from locally grown crops, align with these sustainability goals, further boosting their demand. The pharmaceutical and healthcare sectors in Europe are also major consumers of starch derivatives. Their use in drug formulations, oral liquid preparations, and other pharmaceutical applications contributes significantly to market growth. Europe's well-established and highly regulated food, pharmaceutical, and industrial sectors create a conducive environment for the growth of the starch derivatives market. This, coupled with a growing awareness of health-conscious consumer choices, positions Europe as a key region for market expansion during the forecast period.
By Company Type: Tier1-40%, Tier 2-32%, Tier 3- 28%
By Designation: C-level-45%, D-level - 33%, and Others- 22%
By Region: North America - 15%, Europe - 20%, Asia Pacific - 40%, South America-12%,
RoW - 13%,
Others include sales managers, territory managers, and product managers.
The study includes an in-depth competitive analysis of these key players in the Starch Derivatives market with their company profiles, recent developments, and key market strategies.
The report segments the Starch Derivatives market on the basis of Type, Source, Form, Application, Functionality, and Region. In terms of insights, this report has focused on various levels of analyses-the competitive landscape, end-use analysis, and company profiles, which together comprise and discuss views on the emerging & high-growth segments of the global Starch Derivatives market, high-growth regions, countries, government initiatives, drivers, restraints, opportunities, and challenges.
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall Starch Derivatives market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
*Details on Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.