India Modified Starch Market - 2023-2030

Market Overview

India Modified Starch Market reached US$ 527. 5 million in 2022 and is expected to reach US$ 809.5 million by 2030 and is expected to grow with a CAGR of 5.5% during the forecast period 2023-2030.

The India modified starch market is a significant and growing sector in the country. Modified starches are derived from sources like corn, tapioca, wheat, potato, and others. They find extensive applications in industries such as food and beverages, pharmaceuticals, textiles, and paper. The market is driven by factors such as increasing demand for convenience foods, growth in the textile industry, and the need for pharmaceutical excipients. Corn-based modified starch holds a dominant market share in India.

The market is valued at several hundred million dollars and is expected to witness further growth in the coming years due to the diverse applications and advantages offered by modified starches. Manufacturers are increasingly focusing on developing modified starches that are biodegradable and have a lower environmental impact. Additionally, technological advancements and innovation in the field of modified starch production are driving the market forward, allowing for the development of new and improved products tailored to specific industry needs.

Market Dynamics

Growing Demand for Personal Care and Cosmetics Driving the Growth of the Market

The India modified starch market is driven by the increasing demand for modified starch in the personal care and cosmetics industry. The market share of modified starch in this sector is estimated to be around 10-15%. Modified starches find application in products such as creams, lotions, and haircare formulations, where they provide viscosity, stability, and texture enhancement.

The market trend is driven by the rising consumer awareness of personal care and grooming, leading to the demand for innovative and high-performance products. Modified starches offer advantages such as natural and eco-friendly formulations, making them the preferred ingredients for personal care and cosmetics. In a recent product launch, a popular Indian cosmetics brand introduced a new range of natural and vegan hair styling products that incorporated modified starch for improved texture, hold, and natural ingredients appeal.

Increasing Demand in Pharmaceutical Excipients Driving the Market Growth

India modified starch market is influenced by the growing demand for modified starch as pharmaceutical excipients. Modified starches are used as binders, disintegrants, and controlled-release agents in pharmaceutical formulations. The market trend is driven by factors such as population growth, rising healthcare expenditure, and the prevalence of chronic diseases.

Modified starches offer advantages such as cost-effectiveness, biodegradability, and regulatory compliance, making them attractive choices for pharmaceutical applications In a recent development, a leading pharmaceutical company in India partnered with a modified starch manufacturer to optimize the formulation of a new oral controlled-release tablet, leveraging the unique properties of modified starch to improve drug release profiles and patient compliance.

Limited Awareness Hinders Indian Modified Starch Market Opportunities and Share

This lack of awareness creates a challenge for manufacturers and suppliers to promote and educate potential customers about the benefits of incorporating modified starches in their products. To overcome this restraint, concerted efforts are needed to enhance awareness through targeted marketing campaigns, educational programs, and collaborations with industry stakeholders to highlight the value proposition and expand the market opportunities for modified starches in India.

COVID-19 Impact Analysis

The COVID-19 analysis includes Pre-COVID Scenario, COVID Scenario, and Post-COVID Scenario along with pricing dynamics (including pricing change during and post-pandemic comparing it to pre-COVID scenarios), demand-supply spectrum (shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), government initiatives (initiatives to revive market, sector or industry by government bodies) and manufacturers strategic initiatives (what manufacturers did to mitigate the COVID issues will be covered here).

Segment Analysis

The India modified starch market is segmented based on type, source, application, and end-user.

Tapioca-based Modified Starch Drives India Market Share in Various Industries

India modified starch market is segmented based on source into corn, tapioca, wheat, potato, and others. The tapioca segment accounts for a major market share. Tapioca-based modified starch finds wide applications in various industries, including food and beverages, textiles, and paper. It holds an approximate market share of 15-20% in the Indian modified starch market.

Tapioca starch is known for its excellent thickening and binding properties, making it a preferred choice in food products such as sauces, soups, and bakery items. In the textile industry, tapioca-based modified starch is utilized in sizing operations to enhance yarn strength and weaving efficiency. The general statistical data suggests that tapioca plays a crucial role in the Indian modified starch market, catering to diverse industrial needs and contributing to the growth of the overall modified starch market share.

Competitive Landscape

The major players include: Roquette India Pvt. Ltd., Gujarat Ambuja Exports Limited, Universal Starch-Chem Allied Limited, Shubham Starch Chem Pvt. Ltd., Anil Limited, Sanstar Biomaterials Pvt. Ltd., Sahyadri Starch & Industries Pvt. Ltd., Riddhi Siddhi Gluco Biols Ltd., Spac Starch Products (India) Limited, and Anil Nutrients Limited.

Why Purchase the Report?

• To visualize India modified starch market segmentation based on type, source, application, and end-user as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of India's modified starch market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies