India Modified Starch Market Size, Share, Industry, Forecast and outlook (2023-2030)

India Modified Starch Market is segmented By Type (Pregelatinized Starch, Oxidized Starch, Cationic Starch, Anionic Starch, Cross-Linked Starch, Thinned Starch, Acetylated Starch, Dextrin, Starch Ethers, Physically Modified Starch, Enzymatically Modified Starch, Others), By Source (Corn, Tapioca, Wheat, Potato, Others), By Application (Thickening Agent, Stabilizer, Disintegrant, Binding Agent, Emulsifier, Others), By End-User (Food & Beverages (Bakery & Confectionery, Snacks, Soups & Sauces, Others (Noodles, RTD Mixes)), Pharmaceuticals, Paper Industry, Textile Industry, Others (Adhesives, Construction Materials, Plastic)), and By Region (North India, South India, West India, East India) – Share, Size, Outlook, and Opportunity Analysis, 2023 - 2030

India Modified Starch Market Overview

India Modified Starch Market reached USD 527.5 million in 2022 and is expected to reach USD 809.5 million by 2030 and is expected to grow with a CAGR of 5.5% during the forecast period 2023-2030. The Indian modified starch market has witnessed significant growth driven by factors like population growth, changing consumer preferences, and expanding industries.

The food and beverages sector is the largest consumer, accounting for a significant portion of the market demand. Increased urbanization, higher disposable incomes, and the need for improved texture and stability in food products have fueled the demand for modified starch. 

India modified starch market has been witnessing significant growth in recent years. Government initiatives promoting the agriculture sector and the production of starch crops have indirectly supported the growth of the India modified starch market. The market is characterized by a diverse range of applications beyond food and beverages, including textiles and paper.

India Modified Starch Market Scope and Summary

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India Modified Starch Market Dynamics

Increasing Demand for Convenience and Packaged Foods Driving the Market Growth

The India modified starch market is witnessing a significant boost in demand due to the increasing popularity of convenience and packaged foods among consumers. The busy lifestyles and changing dietary preferences have led to a surge in the consumption of ready-to-eat meals, snacks, and convenience products. This trend has driven the Indian modified starch market share to approximately 40-50%.

India modified starch market trend is driven by the growing demand for convenience and packaged foods, which require modified starches for various applications such as thickening, stabilizing, and enhancing texture. For instance, major food companies in India have been incorporating modified starches in their product formulations to improve shelf life, texture, and sensory attributes, catering to evolving consumer needs.

Expansion of Textile Industry and Demand for Textile Sizing Driving the Market Growth

The Indian textile industry is a major driver of the modified starch market, primarily in the textile sizing segment. Textile sizing involves the application of modified starch on yarns to improve their strength, smoothness, and weaving efficiency. The Indian modified starch market share in the textile sector is estimated to be around 20-30%. The Indian modified starch market trend is driven by the expansion of the textile industry, which is experiencing significant growth due to rising domestic consumption and increasing exports. 

In recent years, several textile manufacturers in India have invested in advanced sizing technologies and modern machinery, increasing the demand for modified starches as superior sizing agents. This trend aligns with the growing emphasis on sustainable and eco-friendly sizing materials in the textile industry.

Raw Material Availability and Costs Impact India Modified Starch Market Share

One restraint of the India modified starch market is the availability and cost of raw materials. The Indian modified starch market share is affected by the fluctuating prices and limited availability of key raw materials such as corn, tapioca, wheat, and potatoes. Changes in climatic conditions, crop yields, and government policies can impact the production and supply of these raw materials, leading to price volatility and potential shortages. 

The dependence on imported raw materials further adds to the market challenges. Such constraints can hinder the growth of the Indian modified starch market, affecting its market share and overall competitiveness. Market players need to closely monitor raw material availability, establish strategic sourcing partnerships, and explore alternative sources to mitigate these challenges and ensure a steady supply chain.

India Modified Starch Market Segment Analysis

The India modified starch market is segmented based on type, source, application, and end-user

Corn-based Modified Starch Dominates India Market, Accounting for more than 50% of Market Share

The India modified starch market is segmented based on source into corn, tapioca, wheat, potato, and others. The corn segment is a significant component of the India modified starch market, contributing a substantial market share. Corn-based modified starch is widely used in various industries such as food and beverages, pharmaceuticals, and textiles. 

The growth of the corn segment can be attributed to the abundant availability of corn as a raw material and its cost-effectiveness. Moreover, the functional properties of corn-based modified starch, including thickening, stabilizing, and texturizing, make it highly desirable in food applications. The India modified starch market size for the corn segment is estimated to be in the range of several hundred million dollars, reflecting its significant market presence and demand.

Source: DataM Intelligence Analysis (2023)

India Modified Starch Companies and Competitive Landscape

The major players include Roquette India Pvt. Ltd., Gujarat Ambuja Exports Limited, Universal Starch-Chem Allied Limited, Shubham Starch Chem Pvt. Ltd., Anil Limited, Sanstar Biomaterials Pvt. Ltd., Sahyadri Starch & Industries Pvt. Ltd., Riddhi Siddhi Gluco Biols Ltd., Spac Starch Products (India) Limited, and Anil Nutrients Limited. 

COVID-19 Impact on India Modified Starch Market

The COVID-19 pandemic likely impacted the modified starch market in India. Lockdowns and restrictions may have disrupted supply chains and manufacturing operations. The closure of restaurants and hotels could have decreased demand, while the demand for packaged and convenience foods may have increased. However, the overall impact would depend on the specific dynamics of the market and the duration of the pandemic.

Key Developments

• In 2021, a prominent Indian snack food company introduced a new range of packaged chips using modified starch as a key ingredient. The incorporation of modified starch helped in achieving the desired crispiness and texture, extending the product's shelf life and enhancing consumer appeal. 
• On June 13, 2022, Cargill Beauty's StarDesign brand included a variety of starch product lines. The company has activities and distribution networks in India. Its product line includes waxy corn-based thickeners, emulsifiers, and sensory enhancers derived from maize.

Why Purchase the Report?

• To visualize India modified starch market segmentation based on type, source, application, and end-user as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous data points of India’s modified starch market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies

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