Modified Starch Market Key Players, Share, Trend, Segmentation and Forecast to 2030

ByLara Lucas

The global modified starch market is predicted to be valued at $17,141.70 million by 2030, surging from $10,746.60 million in 2021, at a noteworthy CAGR of 4.90%.

Impact Analysis of COVID-19 on the Modified Starch Market

In a short period of time, the COVID-19 pandemic wreaked havoc in various industries including the food & beverage industry owing to supply-chain disruptions. The pandemic both positively and negatively impacted the entire modified starch sector.People started panicking as concerns over food & beverages supply grew owing to lockdowns and strict travel restrictions implemented across the globe. This was a result of rushes at grocery stores, high demand of processed food with high shelf lives, and limited availability of processed food in the market, which led to brief supply chain disruptions during lockdown.

However, sales of processed and packaged goods increased as consumers rushed to restock their cupboards. The COVID-19 pandemic increased consumption of processed foods and other long-lasting, shelf-stable foods which use modified starch. Moreover, several measures implemented by the Government of India are assisting society in its recovery from the pandemic. For instance, the Indian Government is taking appropriate steps to control and maintain greatest potential output from agricultural farmlands, which is a crucial factor for expansion of the modified starch market. In the food business, there is a rising demand for thickening agents. Due to their gluten-free qualities, modified carbohydrates are predicted to drive revenue growth of various industries, including cosmetics, paper, and food & beverages.

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Global Modified Starch Market Analysis

Modified starch has certain functional qualities, texture, taste, and thickness, and it can be used in a wide range of applications. It is a versatile ingredient that thickens sauces, gravies, soups, and custards. It also functions as an emulsifier, fat substitute, and textural agent. Modified starch has bulking and water-absorbing properties, thus it improves texture of the prepared food it is added to. Modified starches can also be used to replace fatty foods. Modified starch is used in low-fat milk-based delicacies such as yoghurt and processed hard salami. For instance, they can be used as a gelatin substitute in puddings, sauces, ice creams, and jellies.

However, rising raw material costs are anticipated to restrain the modified starch market revenue growth in the upcoming years. Due to limited extraction methods of modified starch, the market is expected to be hampered. Moreover, modified starch is derived from wheat, corn, and more, which are seasonal crops. Low productivity of these crops could hinder the market growth.

Increasing demand for modified starch in a variety of industries, necessitates utilization of alternate starch sources. As new avenues for food processing arise in the food business, demand for modified starch in the global market has been increasing. The most important factor driving revenue growth of the global modified starch market is use of modified starch in animal feed manufacturing. Animal feed production is increasing in volume as a result of an increase in pet adoption across the globe. Additionally, in recent years, discipline of veterinary medicine has grown in prominence. Along with improvements in the realm of food processing, the modified starch market is estimated to generate excellent growth opportunities.

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Global Modified Starch Market, Segmentation

The global modified starch market is segmented based on type, raw materials, production method, form, function, applications, sales channel, and region.

Type:

Based on type, the market is divided into cationic starch, cross-linked starch, oxidized starch, pregelatinized starch, and others. The pregelatinized starch sub-segment is expected to have the highest market share by 2030. The cooked and dried pregelatinized starch is turned into flakes or powder form. Potatoes, wheat, and corn are used to extract these starches. These starches are easily digested and found in ready-to-eat and processed foods. Pregelatinized starch is biodegradable which is a major factor estimated to drive revenue growth of the modified starch market. A pregelatinized starch is a refined carbohydrate that is used as a binder and texturizer.

Maize, waxy corn, tapioca, and potato are some of the most common sources of modified starch. It is dried, pre-cooked, and grounded for use in a variety of industries. Pregelatinized starch comes in powder and flake form, allowing products to have a high viscosity. It is commonly found in baked goods, soups, and infant foods. Pregelatinized starch is often used as an excipient in pharmaceutical and food products. It absorbs water quickly, making digestion easier; as a result, it is used as a dissolver. It also functions as a food stabilizer, extending the shelf life of foods.

Applications:

Based on applications, the market is divided into food & beverages, industrial, and animal feed & others. The food and beverages sub-segment accounted for highest revenue share in the global modified starch market in 2021 . Chips, canned soups, quick pudding, low-fat ice cream, cheese sauces, powder coated foods (such as cocoa-dusted almonds), and sweets are the most common users for modified starches. Starch is a binder that is commonly used in sauces and soups. Such factors are anticipated to increase the demand in modified starch sector.

Raw Materials:

Based on raw material, the market is divided into corn, cassava, wheat, and others. The corn sub-segment is expected to have the highest market share by 2030. One of the most commonly available raw commodities is corn. Corn-based modified starch is majorly used in a range of industries as a stabilizer, thickening agent, and emulsifier.

Function:

Based on function, the market is divided into thickeners, binders, and emulsifiers & others. The thickeners sub-segment accounted to highest revenue share in the global modified starch market in 2021. Thickeners are widely used in the pastry and pie fillings. Moreover, fast food companies use modified starch for the production of ready-to-eat meals and processed food. These factors are anticipated to drive the demand for thickeners. Due to its functional characteristics, modified starch is extensively utilized in food.

Production Method:

Based on production method, the market is divided into physical modification, chemical modification, and resistant starch. The physical modification sub-segment accounted for highest revenue share in the global modified starch market in 2021. Physical modifications of starches are starch property modifications imparted by physical treatments that do not result in any chemical modification of the starch other than limited glyosidic bond cleavages. Physical modifications refer to changes in the morphology and three-dimensional structure of starch.

Form:

Based on form, the market is divided into dry and liquid. The dry sub-segment accounted for highest revenue share in the global modified starch market in 2021. Dry modified starch is produced via the process of esterification and it has various applications across breadings & batter, soups, sauces, desserts, and confectionery. Owing to these multi-functional benefits, the dry modified starch can also be used as a disintegrate, binder, and as a diluent in tablet formulations. Some of the major advantages of dry modified starch include long shelf-life, high oil load, high manufacturing efficiency, and high volatile retention. Additionally, it offers cold-storage stability, freeze/thaw stability, clear texture, and others. All these factors are anticipated to propel the dry modified starch market demand during the analysis timeframe.

Sales Channel:

Based on sales channel, the market is divided into offline and online. The offline sub-segment accounted for the highest market share in 2021. This is majorly due to presence of large number of small shops and large retail establishments that are located across the globe. Additionally, most of the people in the developing nations still reside in the rural areas. Due to this, there are fewer online facilities available in such areas and the purchases of modified starch are made offline via these establishments such as supermarkets.

Region:

The modified starch market in the North America region is projected to garner dominant share. North America represented for 3.0% of the global modified starch market. The modified starch market in North America is majorly driven by the U.S. In the U.S., the modified starch industry has progressed technologically, leading in increased use in a range of industries. Modified starch is most commonly found in canned soups and blends, where it is used for thickening and viscosity control. The region’s modified starch sector is also being driven by rising popularity of ready-to-eat meals and processed foods. It is also used as a base for gelling agents in confections, pastry & pie filling thickeners, as well as quick puddings. The expanding trend of ready-to-eat meals and processed food is also driving revenue growth of the modified starch market in the region. 

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Key Players in the Modified Starch Market

Some of the leading modified starch market players are

  1. Ulrick and Short Ltd.
  2. Penford Corp.
  3. SPACSTARCH PRODUCTS (INDIA) LTD.
  4. Tirupati Starch & Chemicals Ltd.
  5. Angel Starch & Food Pvt Ltd.
  6. Honest Derivatives Pvt. Ltd.
  7. Sanstar Bio – Polymers Ltd.
  8. Shubham Starch Chem (P) Ltd.
  9. AGRANA Strke GmbH.
  10. Everest Starch (IND) Pvt. Ltd.

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