Modified starches are increasingly replacing native starches in the food processing industry, owing to the improved and enhanced functional properties of modified starches. Modified starch is used in the food industry as a texture improver, fat replacer, and for potential flavor masking of food products. Furthermore, modified starch provides functional properties such as taste, texture, and thickness to the processed food, while extending their shelf life. Increasing urbanization, coupled with the changing consumers’ eating habits, has given rise to the demand for convenience and processed food. The increasing demand from consumers has made manufacturers improve the quality and efficiency of their product offerings, which is creating a strong demand for modified starch over the forecast period. The unique functional benefits associated with modified starch makes it a vital ingredient in end-use industries, including textile and paper industry, and cosmetics, and personal care formulations. Modified starch is a multifunctional additive used in the cosmetic and personal care industry. In the past few years, the trend for natural cosmetic products is witnessing an ever-growing demand, and hence, manufacturers are incorporating new cosmetic products using natural ingredients such as modified starch to gain traction of the more extensive consumer base. Also, modified starch finds application in the textile industry for the sizing of medium-count and coarse yarns. Thus, increasing demand from end-use industries is anticipated d to provide a substantial market opportunity for modified starch.
Overview of the Global Modified Starch Market
According to the recent study published by FMI projects that the global modified starch market will record a steady growth during the forecast period 2019-2029. The report includes critical market insights based on the crucial information about the latest activities by the leading suppliers, manufacturers, and distributors in the global modified starch market. The market study published by FMI provides the most requisite data about the factors that can make a significant impact on the growth of the global modified starch market. Leading players, stakeholders, and new entrants in the market can plan the right business strategies and follow a correct decision-making process.
Segmentation of the Global Modified Starch Market
The global modified starch market is segmented on the basis of source into wheat, maize/corn, tapioca, potato, and rice. In terms of value, the global modified starch market is significantly occupied by maize/corn and is likely to stay strong over the forecast period, whereas the rice segment of the global modified starch market is anticipated to grow with the highest CAGR over the forecast period. The food and beverage segment is expected to dominate the application segment of the global modified starch market over the forecast period. Wide-ranging applications of modified starch in the food and beverage industry- as a thickener, an emulsifier, and fat replacer- are resulting in the highest consumption of modified starch by the segment. Dairy products and bakery products occupy significant share by revenue in 2019 in the food and beverage industry over the forecast period.
Competitive Outlook of the Global Modified Starch Market
Both large- and small-scale processors and manufacturers of modified starch are aiming at expanding and upgrading their production capacities by incorporating newer technologies and equipment to meet the increasing demand from end-users. Besides, modified starch manufacturers are increasing their product launch frequency and updating their portfolio with a variety of products, which ultimately helps to cater to the needs of an ever-changing market. The manufacturers are offering organic, vegan, non-GMO, and high-quality modified starches to customers so that they can provide unique and quality products to end consumers.
Furthermore, increasing expenditure by government and non-government organizations on research and development activities is resulting in the introduction of new and innovative products in the global market that is growing the demand for food additives. This is resulting in new market opportunities for modified starch over the forecast period.
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