Executive Summary

The starch market is growing at a steady pace, thanks to the increasing demand for processed foods and the growing use of starch in various industries. The global starch market size was valued at $66.83 billion in 2020 and is expected to reach $92.35 billion by 2028, growing at a CAGR of 4.1% from 2021 to 2028. The key drivers of this growth include the increasing demand for processed foods, the growing use of starch in various industries, and the increasing adoption of biofuels.

However, the market faces some challenges, including the fluctuating prices of raw materials, the regulatory challenges associated with the use of genetically modified crops, and the competition from substitutes such as gums and proteins. Nonetheless, there are several opportunities in the market, such as the increasing demand for gluten-free products and the growing use of modified starch in various industries.

Important Note: The companies listed in the image above are for reference only. The final study will cover 18–20 key players in this market, and the list can be adjusted based on our client’s requirements.

Key Market Insights

The following are some of the key market insights that have contributed to the growth of the starch market:

1. Increasing demand for processed foods: The increasing demand for processed foods, particularly in developing countries, has led to the growing use of starch as a thickener, binder, and stabilizer.
2. Growing use of starch in various industries: Starch is used in a wide range of industries, including food and beverage, paper and textiles, and other industries. The growing use of starch in these industries is driving the growth of the market.
3. Increasing adoption of biofuels: Starch is used in the production of biofuels such as ethanol, which is increasingly being adopted as a cleaner and renewable source of energy.

Market Drivers

The following are the key drivers of the starch market:

1. Increasing demand for processed foods
2. Growing use of starch in various industries
3. Increasing adoption of biofuels

Market Restraints

The starch market also faces several challenges, including:

1. Fluctuating prices of raw materials
2. Regulatory challenges associated with the use of genetically modified crops
3. Competition from substitutes such as gums and proteins

Market Opportunities

Despite the challenges, there are several opportunities in the starch market, including:

1. Increasing demand for gluten-free products: The increasing demand for gluten-free products is driving the demand for starch-based ingredients such as corn and potato starch.
2. Growing use of modified starch in various industries: Modified starch is increasingly being used in various industries, including food and beverage, paper and textiles, and other industries. This can help improve the properties of starch and increase its functionality in various applications.
3. Growing demand for clean label products: The growing demand for clean label products is driving the demand for natural and organic starch-based ingredients.

Market Dynamics

The starch market is a dynamic and evolving market. The market is driven by various factors, including the increasing demand for processed foods, the growing use of starch in various industries, and the increasing adoption of biofuels. The market also faces challenges such as the fluctuating prices of raw materials, the regulatory challenges associated with the use of genetically modified crops, and the competition from substitutes such as gums and proteins. Nonetheless, there are several opportunities in the market, such as the increasing demand for gluten-free products, the growing use of modified starch in various industries, and the growing demand for clean label products.

Regional Analysis

The starch market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Asia-Pacific dominates the market, thanks to the high demand for starch in various industries and the presence of several key players in the region. The North American and European markets are also significant contributors to the market, thanks to the increasing demand for processed foods and the growing use of starch in various industries.

Competitive Landscape

Leading Companies in the Starch Market:

1. Cargill, Incorporated
2. Archer Daniels Midland Company
3. Ingredion Incorporated
4. Tate & Lyle PLC
5. Roquette Frères
6. Grain Processing Corporation
7. AGRANA Beteiligungs-AG
8. Avebe U.A.
9. Emsland Group
10. Tereos Starch & Sweeteners

Please note: This is a preliminary list; the final study will feature 18–20 leading companies in this market. The selection of companies in the final report can be customized based on our client’s specific requirements.

Segmentation

The starch market is segmented based on source, type, form, application, and geography. Based on source, the market is segmented into corn, wheat, cassava, potato, and others. Based on type, the market is segmented into native starch, modified starch, and sweeteners. Based on form, the market is segmented into powder, liquid, and gel. Based on application, the market is segmented into food and beverage, paper and textiles, and others.

Category-wise Insights

1. Corn segment: The corn segment dominates the market due to the high demand for corn starch in various industries, particularly in the food and beverage industry.
2. Modified starch segment: The modified starch segment is expected to grow at the highest CAGR during the forecast period, thanks to the increasing use of modified starch in various industries.
3. Food and beverage segment: The food and beverage segment dominates the market, thanks to the high demand for starch as a thickener, binder, and stabilizer in processed foods.

Key Benefits for Industry Participants and Stakeholders

The starch market offers several benefits for industry participants and stakeholders, including:

1. Increased demand for processed foods: The increasing demand for processed foods is driving the demand for starch-based ingredients such as corn and potato starch.
2. Growing use of starch in various industries: Starch is used in a wide range of industries, including food and beverage, paper and textiles, and other industries, driving the growth of the market.
3. Increasing adoption of biofuels: Starch is used in the production of biofuels such as ethanol, which is increasingly being adopted as a cleaner and renewable source of energy.
4. Cost savings: Starch can help reduce costs for companies by providing a cheaper alternative to other thickeners, binders, and stabilizers.

SWOT Analysis

Strengths:

• Increasing demand for processed foods
• Growing use of starch in various industries
• Increasing adoption of biofuels
• Wide availability of raw materials

Weaknesses:

• Fluctuating prices of raw materials
• Regulatory challenges associated with the use of genetically modified crops
• Competition from substitutes such as gums and proteins

Opportunities:

• Increasing demand for gluten-free products
• Growing use of modified starch in various industries
• Growing demand for clean label products

Threats:

• Competition from established players and new entrants
• Fluctuations in supply and demand
• Economic slowdowns and market downturns

Market Key Trends

The following are some of the key trends in the starch market:

1. Increasing demand for clean label products: The growing demand for clean label products is driving the demand for natural and organic starch-based ingredients.
2. Growing use of modified starch in various industries: Modified starch is increasingly being used in various industries, including food and beverage, paper and textiles, and other industries. This can help improve the properties of starch and increase its functionality in various applications.
3. Increasing use of automation and digitalization: The use of automation and digitalization is increasing in the starch industry, helping companies to improve their efficiency and productivity.

Covid-19 Impact

The COVID-19 pandemic has had a significant impact on the starch market. The pandemic has led to disruptions in supply chains, which have affected the growth of the market. The closure of restaurants and food service establishments has also led to a decrease in demand for starch-based ingredients. However, the pandemic has also led to an increase in demand for processed foods and the growing use of starch in the production of biofuels.

Key Industry Developments

The following are some of the key industry developments in the starch market:

1. In September 2020, Ingredion launched a new line of clean label starches, called NOVATION PRIMA 340 and 350, which are designed for use in dairy products.
2. In November 2020, Cargill announced the acquisition of Leman Decoration Group, a supplier of cake decorations and specialty ingredients, to expand its product portfolio in Europe.
3. In March 2021, ADM announced the acquisition of Sojaprotein, a Serbian-based company that produces non-GMO soy proteins, to expand its product portfolio in Europe.

Analyst Suggestions

The starch market is expected to continue to grow at a steady pace in the coming years, driven by the increasing demand for processed foods and the growing use of starch in various industries. Analysts suggest that companies should focus on product innovation, partnerships, and acquisitions to gain a competitive edge in the market. Companies should also focus on offering customized solutions to meet the specific needs of their customers and should invest in automation and digitalization to improve their efficiency and productivity.

Future Outlook

The future outlook for the starch market is positive, with the market expected to continue to grow at a steady pace in the coming years. The increasing demand for processed foods, the growing use of starch in various industries, and the increasing adoption of biofuels are expected to drive the growth of the market. However, the market also faces challenges, such as the fluctuating prices of raw materials, the regulatory challenges associated with the use of genetically modified crops, and the competition from substitutes such as gums and proteins.

Conclusion

The starch market is a dynamic and evolving market that offers several benefits for industry participants and stakeholders. The market is driven by various factors, including the increasing demand for processed foods, the growing use of starch in various industries, and the increasing adoption of biofuels. The market also faces challenges, such as the fluctuating prices of raw materials and the regulatory challenges associated with the use of genetically modified crops. Nonetheless, there are several opportunities in the market, such as the increasing demand for gluten-free products and the growing use of modified starch in various industries. The market is expected to continue to grow at a steady pace in the coming years, driven by the increasing demand for processed foods and the growing use of starch in various industries.