DUBLIN--(BUSINESS WIRE)--The "Industrial Starch Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type, Source, and Application" report has been added to ResearchAndMarkets.com's offering.
The industrial starch market is expected to grow from US$ 67,353.01 million in 2022 to US$ 98,426.74 million by 2028; it is estimated to grow at a CAGR of 5.5% from 2022 to 2028.
Industrial starch is one of the most widely used food & beverage, pulp and paper, pharmaceutical, and animal feed that is naturally available products, with minimal processing. Starch is nontoxic, inexpensive, odorless, biocompatible, and widely available.
In recent years, starch manufacturers in the have witnessed tremendous demand from the paper & paperboard industry due to the booming e-commerce sector. Corrugated boards are widely used in this industry for the packaging of goods.
Moreover, upon the outbreak of COVID-19, consumer preference rapidly shifted to online retail channels for the purchase of various essential and nonessential goods, including packaged food & beverages, clothing, cosmetics and personal care products, and appliances. However, manufacturers of industrial starch could not keep up with the growing demand due to the removal of two drying assets from the market, which resulted in the limited availability of drying capacities.
Industrial starch, a major component of animal feed, is used in production animals' diets such as beef and dairy cattle, chickens, and swine as a prime energy source and to improve production. Moreover, industrial starch is a significant component in developing textile capability (strength, elasticity, and surface strength), reducing friction in the weaving process, and improving the fabric's feel and appearance.
Moreover, increasing demand for convenience food and ready-to-eat food products is propelling demand for industrial starch. Increasing demand for starch-based adhesives in industrial products, including packaging, and rapid growth of the food & beverage industry are driving growth in the industrial starch market.
Based on type, the industrial starch market is segmented into native starch and starch derivatives & sweeteners. The starch derivatives & sweeteners board segment led the market in 2021 and is expected to register the highest CAGR during the forecast period.
The stringent regulations encourage natural ingredients from food & beverages, textiles, cosmetics, pharmaceuticals, and other end-user industries. The trend for biodegradable and bio-based adhesives, and the associated need for stringent regulations for low-emission adhesives, are expected to propel the segment growth during the forecast period.
Agrana Beteiligungs-AG; ADM; Ingredion Incorporated; Roquette Freres; Tereos Group; Cargill, Incorporated; Tate & Lyle PLC; Grain Processing Corporation; Royal Cosun; and AVEBE are among the leading players in the industrial starch market.
These companies are adopting strategies such as mergers and acquisitions and product launches to expand their geographic presence and clientele.
Key Market Dynamics
Market Drivers
- Growth in the Global Food and Beverages Industry
- Increase in Demand from Packaging Industry
Market Restraints
- Demand Supply Gaps
Market Opportunities
- Growing Demand for Industrial Starch in Biofuel Application
Future Trends
- Product Innovation in Industrial Starches
Company Profiles
- AGRANA Beteiligungs-AG
- ADM
- Ingredion Incorporated
- Roquette Freres
- Tereos Group
- Cargill, Incorporated.
- Tate & Lyle PLC
- Grain Processing Corporation
- Royal Cosun
- AVEBE
For more information about this report visit https://www.researchandmarkets.com/r/uaf7ab
