Global starch derivatives 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 materials coupled
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 desserts and
bakery products are expected to augment demand for the product over the next
seven years.
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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 & Africa is 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 key drivers. 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 Roquette Frères.
Growing emphasis on developing new and innovative products by manufacturers in
order to cater to needs of various 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
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