Market Definition:
Industrial starches is transformed into sugars, by malting, and fermented to yield ethanol to manufacture biofuel, whisky and beer. It is treated to yield different by products which are used in various food processes. Industrial starch when dissolved in warm water, has various application such as thickeners, adhesive, emulsifiers, and others. Moreover industrial starches are highly used as an adhesive in paper, packaging material manufacturing, processed food which included snacks, baked food, condiments and others.
Market Scenario:
It is extracted and refined from seeds, roots and tubers, by using various process such as wet grinding, washing, sieving and drying. There is rise in demand for adhesive from the packaging industry as e-commerce industry is growing in recent years, higher demand for convenience food as fast food chains are growing, are major driving forces for industrial starches market. Globally the market for industrial starches is estimated to grow at the rate of about 4% from 2016 to 2022.
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Key Players
The Leading Market Players in the global industrial starches market primarily are Cargill, Incorporated (U.S.), Archer Daniels Midland Company (U.S.), Ingredion Incorporated (U.S.), Tate & Lyle PLC (U.K.), Agrana Beteiligungs-AG (Austria), Grain Processing Corporation (U.S.), and Roquette Frères (France)
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Regional Analysis
The global industrial starches market is in the entire world; to name few regions where this market exist are North America, Europe, China and Asia Pacific. Among these North America has the major market share followed by APAC. Asia-Pacific is projected to grow at the fastest rate in the coming years owing to increasing consumption of starch, its derivatives, and sweeteners. North America dominated the industrial starches market and is projected to reach a volume of 43.92 MMT in 2022, growing at a CAGR of 3.93% from 2016 to 2022. Due to the lower raw materials & production costs as well as less stringent environment regulations Asia-Pacific region is in a better position to produce starch at more competitive prices than developed countries in European and North American region.