Market Research Report
Published: May 1, 2021
Global Industry Analysts, Inc.
Content info: 548 Pages
Delivery time: 1-2 business days
Global Starch Market to Reach 160.3 Million Metric Tons by 2026
Starch is one of the most widely available carbohydrates in the nature. The growing use of starch in food and beverage processing industry and the increasing consumption in non-food industries is fueling growth in the global market. Rapid growth of the food processing industry and increasing demand for starch-based adhesives in industrial products including packaging are driving growth in the starch market. In the food processing industry, starch demand continues to show strong growth due to the fact that most types of sugars used in various food processing activities are derived from starch. Sweeteners, which are used as sugar replacements, in particular are reporting fast gains. This trend is more pronounced in China where isoglucose is gaining the attention of soft drinks producers and agrifood groups. Rising demand for convenience and healthy foods from consumers continues to spur use of modified starch in the food industry. The increasing use of starch to synthesize biodegradable polymers has the potential to transform market prospects.
Amid the COVID-19 crisis, the global market for Starch estimated at 119.6 Million Metric Tons in the year 2020, is projected to reach a revised size of 160.3 Million Metric Tons by 2026, growing at a CAGR of 5% over the analysis period. Liquid Starch, one of the segments analyzed in the report, is projected to grow at a 5.2% CAGR to reach 97.6 Million Metric Tons by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Native Dry Starch segment is readjusted to a revised 5.2% CAGR for the next 7-year period. This segment currently accounts for a 26.9% share of the global Starch market. Liquid starch products are starch derivatives in syrup form, which are mostly used as substitutes for sugar. These starch products include ethanol, isoglucose, and other syrup-based products.
The U.S. Market is Estimated at 33.4 Million Metric Tons in 2021, While China is Forecast to Reach 33.1 Million Metric Tons by 2026
The Starch market in the U.S. is estimated at 33.4 Million Metric Tons in the year 2021. The country currently accounts for a 27% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of 33.1 Million Metric Tons in the year 2026 trailing a CAGR of 8.1% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.8% and 4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.6% CAGR while Rest of European market (as defined in the study) will reach 35.7 Million Metric Tons by the end of the analysis period. Demand for starch in Asia-Pacific countries stems from both non-food and food sectors. Strong economic growth, increasing employment opportunities and rising per-capita disposable incomes, particularly in China and India, are contributing to the robust growth in demand for food and non-food ingredients including starch. Developing economies such as China, India, Russia, Brazil and Africa are also creating a strong case for starch, particularly in paper mills, packaging and certain food applications. In North America, demand for starch types such as corn starch is primarily driven by the growing use of gluten-free ingredients by the food & beverage industry, given the rising incidence of gluten intolerance and celiac disease in the country.
Modified Dry Starch Segment to Reach 17.7 Million Metric Tons by 2026
Demand for modified starch stems from non-food, food and industrial sectors. Key properties favoring adoption of modified starch in these applications include binding water, flocculation, adhesiveness, pH stability, acidic stability, thickening properties, shear stability and film-forming properties of modified starch among others. In the global Modified Dry Starch segment, USA, Canada, Japan, China and Europe will drive the 3.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of 10.7 Million Metric Tons in the year 2020 will reach a projected size of 13.7 Million Metric Tons by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach 2.3 Million Metric Tons by the year 2026, while Latin America will expand at a 4.1% CAGR through the analysis period.
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