Pune, India, Feb. 09, 2021 (GLOBE NEWSWIRE) -- The global industrial starch market size is set to exhibit astounding growth owing to the increasing adoption of bio-based products across the food industry. This information is published by Fortune Business Insights™ in an upcoming study, titled, “Industrial Starch Market Size, Share and Forecast 2019-2026.” As people are increasingly preferring organic products for their day-to-day consumption, the prominent players in the industry are fulfilling the demand by coming up with new ranges of products made from organic ingredients. For instance, in July 2018, Ingredient supplier Ingredion Inc. introduced two new organic-certified corn starch ingredients to the company’s present line of fortified, clean-label starches.
The COVID-19 pandemic has had a drastic impact on the global economy. Nationwide lockdowns and traveling restrictions have disrupted the global supply chain, negatively impacting businesses across the globe. Countries across the world are constantly working on addressing the challenges that have arisen during the crisis. At fortune business Insights, we are constantly analyzing these challenges in order to provide feasible solutions.
Key Market Segregation
We have categorized the market on the basis of type, source, application, and geography. In terms of type, the market is divided into native starch, starch derivatives, and sweeteners. On the basis of source, it is segregated into corn, cassava, potato, wheat, and others (rice, sweet potato). Based on application, it is fragmented into food and beverage, pharmaceuticals, paper industry, and others. Lastly, on the basis of geography, it is segmented into North America, Europe, South America, Asia Pacific, and the Middle East & Africa.
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List of Top Manufacturers Operating In the Industrial Starch Market are:
- Cargill Inc.
- Tate and Lyle PLC
- Archer Daniels Midland Company
- Grain Processing Corporation
- Universal Starch Chem Allied Ltd.
- Ingredion Inc.
- AGRANA Beteiligungs-AG
- Grain Processing Company
- Tereos S.A.
- Royal Cosun
- Others.
Highlights of the Report:
While making the report, we segmented the market on the basis of product, type, consumption, distribution channel, and region. Based on the segmentation, we made a list of companies and conducted a detailed analysis of their financial positions, product portfolios, and growth strategies. Our next step included the study of core competencies of key players and their market share to anticipate the degree of competition. The bottom-up procedure was conducted to arrive at the overall size of the market.
Drivers & Restraints-
Rising Demand for Organic Food Products to Drive Growth
The increasing demand for organic food products among consumers worldwide is predicted to accelerate the growth of the global industrial starch market. For instance, According to Statista, in 2018, organic food accounted for a total sales of USD 95 billion globally. This has increased from USD 18 billion in 2000. In addition, surging investments by prominent players on innovating and commercializing non-GMO starches worldwide are estimated to further boost the demand for industrial starch. However, constant fluctuations in the prices of the raw material required are expected to hinder growth.
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Regional Insights-
Presence of Key Players to Provide North America Substantial Growth
The industrial starch market in North America is anticipated to witness substantial growth. One of the key factors responsible for the growth is the presence of prominent companies operating in this industry, such as Grain Processing Corporation and Archer Daniels Midland Company. In addition, the rising trend of the mindful selection of products in the U.S. based on their nutritional value will further propel the demand for industrial starch in the region.
The market in Asia Pacific is estimated to grow progressively during the forecast period. The high cultivation of raw material, such as cassava, sweet potato, and maize, in countries, such as China, Thailand, Indonesia, India, and others, is expected to strengthen the adoption of industrial starch in the region.
Competitive Landscape-
Establishing Business in Key Regions to Aid Prominent Players Boost their Profit
Leading players operating in the global industrial starch market are focusing on establishing their business in the key regions. This will help them boost their profit margins. For instance, In November 2016, Cargill Inc. spent USD 37.23 million to expand its sweeteners production unit in Europe. This investment will offer a balanced and more flexible sweetener portfolio based on corn and wheat to consumers. In addition, the new production unit will help Cargill avail new customers.
Key Industry Developments-
- In November 2019, Tate and Lyle Plc. opened South American headquarters and application center in Brazil. This investment imitates the importance and growth potential of the South American region for Tate & Lyle Plc.
- In March 2018, Archer Daniels Midland Company and Aston Foods (Russia) launched their 50-50 joint venture to provide starches and sweeteners to customers in Russia.
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