The starch derivatives are the major part of functional foods. A broad usage of the functional properties the starch derivatives along with its ease of usage in a wide range of food applications, increased consumption of convenience and processed food and growing demand for adhesives in industrial applications is driving this market.
Glucose syrup is often used in food industry as a flavor enhancer, texturizing agent, volume-adding agent, and inhibitor of sugar from crystallizing in beverages. However, the maltodextrin segment is expected to grow at a higher CAGR during the forecast period owing to usage in spreads, puddings and sauces as thickening agents. Based on type, the global starch derivatives market has been segmented into maltodextrin, cyclodextrin, glucose syrups, hydrolysates, and others.
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Market scenario and Key Restraints:
The glucose syrup segment accounted for the maximum market share in 2018. It finds its application in various industries such as food & beverages, along with paper, feeds, pharmaceuticals, and cosmetics. The global starch derivatives market has been segregated, by application, into food & beverages, personal care, animal feed, pharmaceutical & nutraceuticals, and others. The food & beverages segment is expected to dominate the global starch derivatives market during the assessment period. However, pharmaceutical segment is projected to grow at the highest CAGR from 2018 to 2023 owing to the high disposable incomes, and growing awareness along with the need for healthcare products as preventive and curative measures. The starch derivatives are used as tablet binders in the pharmaceutical industry.
The global market for starch derivatives has also been classified, by function, as stabilizing, emulsifying, binding, thickening, and others. The thickening segment is expected to dominate the market. The growing food & beverage industry and increasing usage of the starch derivatives as thickening agents are the major driving factors for the segment.
Some of the key players in the Global Starch Derivatives Market are Archer Daniels Midland Company (US), Agrana Group (Austria), Avebe U.A. (The Netherlands), Beneo GmbH (Germany), Cargill, Incorporated (US), Emsland-Stärke GmbH (Germany), Grain Processing Corporation (US), Ingredion Incorporated (US), Roquette Frères (France), and Tate & Lyle PLC (UK).
On the basis of region, the global starch derivatives market has been segmented by North America, Europe, Asia-Pacific, and RoW. Asia-Pacific is expected to dominate the global starch derivatives market owing to rapidly growing food industry in the countries such as China, Japan, and India. Moreover, the growing awareness towards the functional foods resulting in boost in demand for functional food in the region is also contributing significantly to the growth of the starch derivatives market in the Asia-Pacific region.
The starch derivatives market in Asia-Pacific is expected to grow rapidly due to the increasing number of government policies to promote the usage of natural ingredients, along with growing applications in food industry during the forecast period.