The Global Industrial Starch Market is expected to grow from USD 99.34 Bn in 2020 to USD 169.24 Bn by 2027, at a CAGR of 7.7%.
Increase in demand for starch from bioplastics manufacturing sector is anticipated to drive the market growth in the near future. Starches are utilized in a wide range of non-food applications. For instance, Bioplastics due to its abundance, low cost, biodegradability, and edible nature can be utilized in packaging industries. BASF and Novamont, are the two leading bioplastics manufacturers. They have introduced extremely sustainable solutions for fresh-food packaging in two key biodegradable plastic wraps, that are used in packaging industry (launched new products). BASF SE launched certified compostable ecovio material, while Novamont product portfolio includes MATER-BI material, which replaced conventional polymers such as polyethylene, that also increases the product shelf-life. Thus, both plastic pollution and food waste simulation are addressed. These factors are expected to support the market growth in the near future.
Based on starch type, the market has been segmented into acid modified, unmodified, ethylated, native, cationic, oxidized, and others. Native starch held the largest market share in 2020, due to its wide applications in pharmaceutical industry. For instance, Native starch has been used in bulk granules, capsules, and tablets manufacturing. It has multifunctional uses in the different physical forms serving as binder, disintegrant, diluents, glidant, and lubricant. In Europe, 31% native starches are consumed, of the total starch consumption. Moreover, Ethylated starch, acid-modified starch, and oxidized starch are widely used in size press on paper machines, and calendars to improve sheet strength, stiffness, and surface characteristics.
Global Industrial Starch Market by Region Outlook (Revenue, USD Million, 2021-2027)
In terms of geography, North America is expected to dominate the industrial starch market during the forecast period. The growth in the region can be attributed to presence of leading starch manufacturers in this region. For instance, the Manitoba starch in Canada manufactures potato starch for food applications. Canada is also home to the health-conscious people. For instance, in recipes such as roasted chicken pot pie, and blueberry breakfast bread Fleischmann’s Canada Corn Starch is used to thicken these dishes and they can also be used in sauce where a clear, glossy sauce is desirable.
Moreover, in Europe, the market for industrial starch is imbalanced in terms of supply & demand. In recent years, industrial starch supply capacities have surged to meet the demand from the paperboard industry. EU starch players are optimizing their assets to meet the increased demand, but criticalities in supply demand is projected to continue this year due to limited total drying capacities for starch. As starch is dried to maintain shelf life. Furthermore, imports of tapioca starch, which is used as a substitute for both EU corn and wheat starch, may become challenging as the Asian starch market is highly competitive due to a boom in Chinese corn starch. Furthermore, increased freight costs and disruptions in tapioca starch transportation makes supply to the EU market more challenging.
The Global Industrial Starch Sector Segmentation:
Global Industrial Starch Market by Source Industry Outlook (Revenue, USD Billion, 2021-2027)
Global Industrial Starch Market by Starch Type Industry Outlook (Revenue, USD Billion, 2021-2027)
Global Industrial Starch Market by End-use Industry Outlook (Revenue, USD Billion, 2021-2027)
Key Findings:
Company Profiles and Competitive Intelligence
The key players operating in the industrial starch market are:
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