Global Food Starch Market Grows Steadily at a CAGR of 5.6%

Introduction

Food starch is a complex carbohydrate derived from various plant sources, including maize, wheat, rice, potatoes, and tapioca. These sources provide starch, which is refined to remove impurities and enhance its useful properties. Food starch is a useful ingredient in the food industry because it extends the expiration life of food and prevents it from degrading during storage. In addition to sauces, snacks, soups, confectionery, bread, ice creams, soft beverages, and ready-to-eat meals, starch-based ingredients are used in various other culinary products.

Mareket Dynamics 

Expanding F&B Industry Drives the Global Market

The global food and beverage market has experienced robust development in recent years due to innovation in the food system, improved logistics, a rise in affordability, a rise in global trade, and a rise in consumer spending. The food and beverage industry has continuously evolved in response to consumer demands. In addition, the demand for convenience foods has multiplied due to consumers' preference for inexpensive and ready-to-eat food. The expansion of the food processing industry in recent years is anticipated to increase the demand for food constituents, which will positively impact the demand for food starch. These factors collectively fuel global market expansion.

Clean Label Starch Gaining High Traction Among Consumers Creates Tremendous Opportunities

According to an analysis by Straits Research, more than 60 percent of Americans believe natural products to be superior, and more than 51 percent actively pursue natural ingredients when purchasing food products. Industry participants are venturing into producing clean-label starch to meet the rising demand for clean-label ingredients. For instance, Beneo-Remy developed natural, native, and clean-label starches with comparable performance to chemically modified starches. Cargill is also involved in producing clean-label starch, which it actively markets under the SimPure brand. Therefore, a rise in the popularity of clean-label food products is anticipated to generate lucrative opportunities for food starch industry participants.

Regional Analysis

Asia-Pacific is the most significant global food starch market shareholder and is anticipated to exhibit a CAGR of 6.8% during the forecast period. The expansion of the food starch market is anticipated to be driven by the significant expansion of the food industry in Asia-Pacific. The region has experienced a consistent demand for starch due to the expansion strategies implemented by numerous food and beverage companies in this region. The growth of the Asia-Pacific market has been propelled by regional government cooperation and accelerated industrialization. In addition, robust development is anticipated in China and India due to increased demand from the bakery and dairy sectors. The rising demand for processed convenience foods is also anticipated to fuel the expansion of the Asia-Pacific food starch market.

North America is estimated to exhibit a CAGR of 4.2% over the forecast period. North America is the largest contributor to revenue and the most developed market for culinary starch products. The food and beverage industries' early adoption of advanced technology and the introduction of non-GMO food starch are the primary growth drivers of the North American food starch market. Additionally, expanding the food processing industry in this region has accelerated market growth. Advancements in the starch formulation have enabled the discovery of new raw material sources of starch in food and beverage applications other than their traditional use, a major growth driver for the market.

Key Highlights

• The global food starch market was valued at USD 23.50 billion in 2022. It is estimated to reach USD 38.37 billion by 2031, growing at a CAGR of 5.6% during the forecast period (2023–2031).
• Based on raw materials, the global food starch market is divided into maize, wheat, and others. The maize segment is the most significant contributor to the market and is estimated to exhibit a CAGR of 5.1% over the forecast period.
• Based on type, the global food starch market is segmented into modified starch, native starch, and sweeteners. The sweeteners segment owns the highest market share and is estimated to exhibit a CAGR of 4.9% during the forecast period.
• Based on end-user, the global food starch market is bifurcated into business-to-business and business-to-consumer. The business-to-business segment dominates the global market and is predicted to exhibit a CAGR of 5.41% over the forecast period.
• Asia-Pacific is the most significant global food starch market shareholder and is anticipated to exhibit a CAGR of 6.8% during the forecast period.

Competitive Players

1. ADM
2. Cargill
3. Ingredion
4. Tate and Lyle
5. BENEO
6. Roquette Frères
7. AGRANA Beteiligungs-AG
8. SPAC Starch Products (India) Limited
9. Sonish Starch Technology Co.Ltd.
10. and Nutrend Biotech Co.Ltd.

Recent Developments

Recent Developments

• September 2022- Cargill inaugurated its new corn wet mill in Pandaan, Indonesia, on September 8. The new facility will help satisfy the demand for starches, sweeteners, and feed in Asia and Indonesia.
• July 2022- Grain Processing Corporation introduced Fybrin RS resistant starch at IFT FIRST, the annual convention, and the Institute of Food Technologists Expo held in Chicago. According to the Muscatine-based company, the corn-based, gluten-free resistant starch improves fiber in food formulations and contributes fewer calories than other carbohydrates. It is labeled "modified dietary starch."

Segmentation

1. By Raw Material
   1. Maize
   2. Wheat
   3. Potatoes
   4. Others
2. By Type
   1. Modified Starch
   2. Native Starch
   3. Sweeteners
3. By Application
   1. Animal Feed
   2. Bakery and Confectionery
   3. Beverage
   4. Cosmetics
4. By End-User
   1. Business to Business
   2. Business to Consumer