According to the DataM Intelligence’s latest research the Global Modified Starch Market reached USD 12.6 billion in 2022 and is expected to reach USD 16.6 billion by 2030 and is expected to grow with a CAGR of 3.5% during the forecast period 2023-2030. The primary driver for the modified starch market's expansion is the increasing demand for functional meals.
A variety of industries, including food, papermaking, cosmetics, personal care and textiles, use modified starch because of its various benefits. It is utilized as a versatile additive in the personal care and cosmetics industries. Since there has been a growth in demand for natural cosmetics in recent years, modified starch market demand is expected to rise in the next years.
Over the last several years, a considerable number of multinational fast-food restaurant chains have grown their operations in many areas of the globe, each with its unique cuisine and product offers to fulfil customer demand in numerous locations. Fast food restaurants often use modified starch in food preparation to improve product flavor, taste, and texture, which will drive modified starch market trends over the projection period.
A Comprehensive Market Analysis
In recent years, the global modified starch market has witnessed a series of product launches and approvals that have contributed to its growth. DataM Intelligence's in-depth market analysis reveals the major modified starch market drivers, challenges, trends, and opportunities.
Our market intelligence report evaluates the market size, growth, and share, providing crucial insights for businesses to make informed decisions and capitalize on the existing and upcoming opportunities in the modified starch market.
Exploring Market Drivers and Restraints
Rising Demand for Convenience Foods is Estimated to Drive the Modified Starch Market Growth
According to regional yearly consumption figures, convenience foods are more widespread in North America and Europe. People's lives are becoming more hectic and isolated, leaving less time for home cooking. Globalization and the resulting lifestyle changes have boosted the consumption of convenience foods globally, notably in Asia's growing economies, increasing the need for modified starch.
The Less Presence of the Clean Label Modified Starch is Hindering the Market Growth
The market for modified starch is experiencing growth restraints due to rising customer demand for products with clean labels. Clean labels have become an important purchase factor for foods and beverages all around the globe. According to BENEO-PHARMA, about 65% of American consumers prefer natural products to those that have been chemically altered.
Key Development
- In October 2022: Roquette launched organic pea protein starch as a meat and dairy substitute. The ingredients supplier Roquette introduced this new grade of organic pea starch for the European Union (EU) and US markets.
Competitive Landscape
The major global players in the modified starch market include:
- Ingredion Inc.
- Cargill, Inc.
- Tate & Lyle PLC
- Avebe U.A
The major companies adopt several growth strategies such as acquisitions, product launches and collaborations, contributing to modified starch market growth.
