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| U.S. starch derivative market volume by application, 2012 - 2022 (Kilo Tons) |
Global starchderivatives market is expected to reach USD 74.30 billion by
2022. Growing demand for sweeteners in various food items such as bakery &
confectionary, carbonated & energy drinks is expected to propel growth over
the next seven years. Furthermore, growing pharmaceutical sector in countries
such as Saudi Arabia, Brazil, India, China and the U.S. is expected to further
increase demand for starch derivatives. Stringent regulations encouraging the
use of natural ingredients across various sectors including pharmaceutical,
textile, fermentation and cosmetics is likely to propel industry growth.
However, fluctuating prices of raw materialscoupled with high R&D cost is
expected to be a major restraint affecting growth over the forecast period.
Glucose syrup dominated the
global market in the year 2014 and is likely to generate high revenue gains
over the seven years, accounting for over USD 44.0 billion by 2022. Increasing
consumption of processed meats, ice creams, convenience food, instant
dessertsand bakery products are expected to augment demand for the product over
the next seven years.
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Analysis:
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Food &beverages segment
accounted for the largest application share in 2014 and is expected to witness
significant gains at a CAGR of over 6.0%.Rise in product innovation by
manufacturers coupled with rising consumer preferences for high quality
products is likely to propel growth.
Rising consumer demand for food
and beverages, pharmaceutical and personal care products in Latin America and
Middle East & Africais expected to propel demand for the product over the
next seven years. Moreover, improving economic conditions in the region owing
to rapid industrial growth is expected to be the keydrivers. In addition,
increasing urbanization and changing consumer lifestyle is expected to increase
demand for packaged foods which in turn is anticipated to propel demand for
starch derivative industry over the projected period.
As of 2014, Asia Pacific
dominated the global market in terms of revenue as well as volume and is
expected to witness highest CAGR, growing at over 6.0% from 2015 to 2022. Rapid
economic growth led by China and India coupled with capacity expansions in food
& beverage industry in the region is likely to have a positive impact on
growth.Furthermore, increasing demand for bakery and confectionary products in
India, China, Vietnam, Malaysia, and Australia is likely to fuel growth in the
region.
Key players in the starch
derivatives market include Ingredion Incorporated, Tate & Lyle PLC, Global
Bio-chem Technology Group Company Limited, Cargill Inc. and RoquetteFrères.
Growing emphasis on developing new and innovative products by manufacturers in
order to cater to needs ofvarious industries is likely to promote growth.
Cargill Inc. and Roquette have invested heavily in Asia Pacific for capacity
expansion of existing plants and to increase the number of manufacturing
facilities.
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Grand View Research has segmented the
global starch Derivatives market on the basis of product, application and
region:
Product Outlook (Volume, Kilo
Tons; Revenue, USD Million, 2012 - 2022)
·
Maltodextrin
·
Glucose Syrup
·
Cyclodextrin
·
Hydrolysates
·
Modified Starch
·
Others
Application Outlook (Volume,
Kilo Tons; Revenue, USD Million, 2012 - 2022)
·
Food & Beverages
·
Cosmetics
·
Paper
·
Pharmaceuticals
·
Feed
·
Others
Regional Outlook (Volume, Kilo
Tons; Revenue, USD Million, 2012 - 2022)
·
North America
o
U.S.
·
Europe
o
Germany
·
Asia Pacific
o
China
o
India
·
Latin America
o
Brazil
·
MEA
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