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Starch Derivatives Market Overview, Industry Analysis, Growth Forecast by 2023

Author : Rahul Sankrityayan | Published Date : 2019-04-24 

Global Market Insights, Inc. has recently added a report on Starch Derivatives Market which provides a succinct analysis of the market size, revenue forecast, and the regional landscape of this industry. The report also highlights the major challenges and current growth strategies adopted by the prominent companies that are a part of the dynamic competitive spectrum of this business sphere.

Global starch derivatives market size was estimated at 47.17 million tons and is likely to grow with a CAGR of over 3.5% from to 2023. This market is likely to be valued at more than USD 74 billion by 2023.

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Glucose syrup market was the dominant product and accounted for over 55% of the total demand and is likely to register revenues worth over 44 billion by 2023. This product type is likely to witness highest gains over the forecast period owing to its increasing use for applications such as processed meats, convenience foods, sauces, bakery products, deserts and ice creams. It is cost effective and poses the ability to adjust the fermentation degree as per desired levels. High fructose corn syrup (HFCS) is another key application area for industry participants.

Food & beverages was the dominant application segment and accounted for over 60% of the total demand. This application is likely to witness gains with an estimated CAGR of over 3.5% up to 2023. Increasing consumer preference towards healthy foods coupled with product innovation is likely to drive starch derivatives demand for this application.

This study analyses the starch derivatives market potential based on products such as modified, clyclodextrin (CD), maltodextrin, hydrolysates and glucose syrup. Clyclodextrin market finds use in pharmaceutical applications to enhance solubility & bioavailability, enhance stability, reduce evaporation & stabilize flavors, reduce odors & tastes and reduce haemolysis.

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CDs can also be useful for formulation improvements or drug delivery with peptide, protein and oligonucleotide dosage forms. In addition to drug delivery applications, they can also be used for extracting compounds.

Another derivative type namely modified starches are gaining industrial importance in industrial applications owing to its biocompatible properties in comparison to synthetic polymers. End-use industries such as textile, petrochemical, food and paper are witnessing an increase in consumption as compared to pharmaceutical sector.

Emerging economies such as China & India are witnessing an increase in modified starch consumption owing to rapid industrialization and increase in per-capita middle class spending capacity. It is expected to witness an increase in utilization in areas of unexplored business applications such as functional foods, nutritional and healthcare.

Its derivatives are poised to poised to play an important role in the development of sustainable plastics abundant availability and renewable nature. The availability and cost may improve further if in the coming years if lignocelluloses replaces cornstarch as preferred feedstock in ethanol production in the U.S.

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Sustainable plastics derived from the starch derivatives market are seen as an important prospect for replacing synthetic plastics in packaging applications.

Novel nanoscale products based on its derivatives are currently under development for applications such as ultraprecise drug delivery, nanoelectronics, ultraselective molecular sieves and coatings.

Middle East & Africa and Latin America starch derivatives markets are considered to be high potential opportunities owing to growth of industries such as food & beverages, personal care products and pharmaceuticals.

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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