PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1635097
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1635097
The global industrial starches market is projected to grow from $110.3 billion in 2024 to $169.9 billion by 2030, reflecting a compound annual growth rate (CAGR) of 7.5% during the forecast period.
This growth is primarily driven by the increasing demand for starch-based thickeners in the food and beverage industry. Industrial starches serve as additives due to their stabilizing, thickening, film-forming, and gelling properties, enhancing product quality and meeting consumer preferences. Additionally, the expanding pharmaceutical sector utilizes starches in drug formulations, further contributing to market expansion.
Key Insights
The food industry remains the largest application segment for industrial starches, driven by their extensive use as thickeners, stabilizers, and gelling agents in various food products. The trend toward clean-label and natural ingredients further boosts the demand for starch-based additives.
The Asia-Pacific region is both the largest and fastest-growing market for industrial starches, attributed to rapid industrialization, population growth, and increasing consumption of processed foods. Countries like China and India are significant contributors to this regional market expansion.
Technological advancements in starch processing and modification techniques have led to the development of high-performance starch derivatives, catering to diverse industrial applications beyond food, including paper, textiles, and pharmaceuticals.
The COVID-19 pandemic had a mixed impact on the industrial starches market. While the food and pharmaceutical sectors experienced increased demand, other industries like paper and textiles faced disruptions. However, with the easing of lockdowns and economic recovery, the market is expected to regain momentum.
The industrial starches market is characterized by fragmentation, with numerous players offering a wide range of products. This competitive landscape encourages continuous innovation and strategic collaborations to meet evolving industry demands and regulatory standards.