The global molding starch market is on a robust growth trajectory, driven by rising demand from the confectionery industry. From 2023 to 2033, the market is expected to grow at a compound annual growth rate (CAGR) of 5%, with its value increasing from USD 493.0 million in 2023 to surpass USD 901 million by 2033. This surge in demand is largely due to the expanding confectionery sector, increasing consumer preference for natural and clean label products, and innovative uses of molding starch in various food applications.
Molding starch, a fine white powder primarily derived from native corn starch, is gaining traction for its versatility in molding, depositing, and drying processes of confectionery products such as jellies and gummies. Its ability to absorb moisture, enhance texture, and extend shelf life makes it a preferred choice among food manufacturers. The rising trend of veganism and the demand for natural ingredients in food products further boost the market, as molding starch offers an excellent alternative to animal-derived substances like gelatin.
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Key Factors Driving Market Growth:
- The global rise in confectionery consumption is a major driver of the molding starch market. The product’s low moisture content, ability to prevent stickiness, and retention of product shape make it essential in confectionery manufacturing.
- Growing consumer awareness about the health risks associated with synthetic additives has led to a preference for natural ingredients. Molding starch, being a natural product, is seen as a healthier alternative to synthetic thickeners and stabilizers.
- The rising popularity of veganism and demand for clean label products are propelling the use of molding starch as a substitute for animal-derived ingredients. This aligns with the increasing consumer demand for transparent and non-GMO food ingredients.
- Urbanization and busy lifestyles are driving the demand for convenience foods, which in turn boosts the need for molding starch used in ready-to-eat and processed food products.
- The market is witnessing a shift towards environmentally friendly packaging solutions, with molding starch being utilized in the production of biodegradable packaging materials, helping reduce the carbon footprint of the food industry.
Country-wise Analysis:
1. Asia Pacific:
- China: The market in China is poised for significant growth, driven by increasing disposable incomes, changing consumer preferences, and a rising demand for healthier, natural ingredients. Major players are investing in sustainable packaging solutions and innovative product lines to cater to the growing market.
- India: The Indian market is expected to proliferate rapidly, driven by consumer demand for gluten-free foods and government initiatives promoting domestic production. The “Make in India” campaign has significantly boosted local manufacturing, contributing to market growth.
- Japan: The demand for plant-based foods and vegan products is driving the market in Japan. Consumers’ preference for natural, additive-free products has led to increased adoption of molding starch in various food applications.
2. North America:
- United States: The U.S. holds a significant share of the global market, driven by the demand for processed and convenience foods. Innovations by key market players, such as the introduction of clean-label starches, have helped boost market growth.
3. Middle East and Africa:
- Countries like Saudi Arabia, Turkey, and the UAE are witnessing strong demand for molding starch due to changing consumer preferences and increasing youth inclination towards confectionery products. The region’s growing urbanization and rising disposable incomes further support market expansion.
4. Europe:
- Germany and other European countries are experiencing steady market growth due to the rising demand for natural and clean label products. The presence of leading market players and innovations in product applications are key factors driving market growth.
Competitive Landscape
To fulfill the rising demand for clean-label and plant-based food components, manufacturers in the molding starch market are concentrating on creating innovative products. A potential substitute for classic components like gelatin that the food industry is looking for is molding starch. The texture, stability, and shelf life of molding starch products are also being improved by manufacturers through research and development. This makes molding starch more suited for usage in a variety of food applications, such as baked goods, meat products, and confectionery. Technology developments are also being used by manufacturers to boost productivity and save costs.
Recent Developments
- Tereos Group announced in 2021 that it planned to sell YKA Group its stake in the starch business in China.
- To support the company’s continuing BioSolutions platform growth, ADM revealed in 2022 that it planned on investing to significantly boost starch output at its Marshall, Minnesota, facility.
Key Segments Profiled in the Molding Starch Industry Survey
Molding Starch Industry By End Use:
- Candies
- Jellies
- Gummies
- Marshmallows
- Others (e.g., Rock Candy, Caramels, etc.)
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