Global Starch Derivatives Market - 2021-2028
|出版日期||內容資訊||英文 180 Pages
|澱粉衍生物的全球市場（2020-2027） Global Starch Derivatives Market - 2021-2028|
|出版日期: 2021年06月22日||內容資訊: 英文 180 Pages||
Starches are basically polymeric carbohydrates playing a vital role in the human diet. It is a renewable and biodegradable material primarily extracted from agricultural commodities. Starch derivatives are used as stabilizers and thickeners in the food and drink sector, as tablet binder in pharmaceutical sector, as an emulsifier in the cosmetic industry and as a fiber additive in animal feed. Besides these, some more important applications of starch derivatives are in adhesiveness, flocculation, film-forming, shear stability, pH stability improvement, process tolerance enhancement, and acid stability. Ever-increasing regulatory requirements toward low-emission adhesives are expected to fuel the demand for bio-based and biodegradable adhesives, which in turn, is expected to drive the market for starch and its derivatives. The global starch derivatives market valued USD XX million in 2020 and is forecasted to reach USD XX million by 2028, growing at a CAGR of XX% during the forecast period (2021-2028)
Functional properties of starch derivatives and their ease of incorporation in a wide range of food applications
Starch derivatives possess enhanced functional properties which are suitable for a wide range of food and non-food applications. It has a variety of functions; it is used as a thickener, texture agent, fat replacer, and emulsifier. Starch derivatives, because of their characteristic of absorbing water and bulking up, render the essential mouthfeel to the food products they are used in. This makes them an excellent substitute for fat. Starch is also used as thickener or as gelling agent in food products, as texture is one of the important factors for the consumers to accept the food products. Moreover, companies are investing large amounts of their capital on research and development. These advances are improving world market opportunities for starch derivative products. For instance, companies like Nestle have launched low-fat Greek yoghurt, NESTLE a+ GREKYO, to promote functional / low-calorie dairy products on the market. Tine, another dairy business, introduced low-fat, rich-protein yoghurt to meet the increasing demand for low-fat products. Hain Celestial released a product, kefir, which was low in fat.
However, rise in cost of raw materials is expected to hamper the growth of starch derivatives market. Natural sources such as wheat, cassava, corn, and rice are used as raw materials for manufacturing starch and its derivatives. These raw materials are widely used for the production of starch derivatives are also used in the production of bio-ethanol products. Increasing consumption of starch derivatives in segments such as food & beverages, feed, pharmaceuticals, cosmetics, and paper leads to higher demand for this starch, thereby resulting in rising in the prices of raw materials. For instance, the price of corn increased by more than 50% in 2021, to USD 7.50 a bushel, which was the highest in the past ten years. The increase in raw material prices is expected to be a restraint in the starch derivatives market. The starch derivatives industry is heavily dependent on raw materials-conventional and organic raw corn, wheat, potato, and rice. The raw material prices depend on the crop plantation area and harvest from which the raw materials are obtained.
Modified starch segment is expected to dominate the global starch derivatives market in the year 2020
Modified starch segment is expected to grow with a CAGR of XX% during the forecast period. This is primarily due to the rising demand for low-calorie food products owing to the rising number of obese and diabetic people, and growing awareness toward health. The number of obese people in the world total is approximately 2.1 billion, which makes up about 30% of the total population. Over 3 million people each year die from obesity. According to WHO, 39 million children under the age of 5 were overweight or obese in 2020. Hence, rising obesity across the world, is expected to drive the demand for modified starch as it has various health benefits.
Asia Pacific evolved as the fastest growing market for starch derivatives
By geography, Asia Pacific is expected to grow with a CAGR of XX% during the forecast period. It will witness significant growth on account of expansion of the food and beverages and pharmaceutical sectors in China, India, South Korea, Thailand, Philippines, and Indonesia. India is one of the major markets for starch derivatives due to wide availability of raw materials. The major raw material for the starch derivative market is maize. Other raw materials used are potato and tapioca but, the volume of starch production using these raw materials is small as compared to that from maize In 2020, maize yield for India was 3.03 tons per ha. Maize yield of India increased from 0.9 tons per ha in 1971 to 3.03 tons per ha in 2020 growing at an average annual rate of 3.26%. Of the total maize produced in India, nearly 10% - 12% is being consumed by the starch and its derivatives industry.
On the other hand, North America is expected to hold significant market revenue share of XX% in the year 2020. Owing to the wide supply of corn, North America is leading the global starch derivatives market, with a broad variety of food, non-food, and feed applications. The acceptance and understanding of the functionalities of starch and its derivatives in the food and non-food industries in the countries has led to rapid demand for the ingredients for a variety of applications primarily in countries such as the United States, Canada and Mexico.
The global starch derivatives market is highly competitive in nature with the presence of many formulators. The presence of major players operating in the country, such as Cargill lncorporated, Archer Daniels Midland Company, and Ingredion Incorporated, have strengthened the market through their product offerings. Continuous innovation to introduce new products, with functional benefits is the key competitive factor in the market.
Pandemic had a dual impact on global starch derivatives market
The global starch derivatives market has had a significant downtrend in 2020, owing to the COVID-19 pandemic. The demand for starch derivatives declined from most of the end use industries, including food and non-food. Food service industry has been the largest constituent of starch derivatives with its extensive use as thickeners and stabilizers. The closure of HoReCa's and lowered out-of-home food consumption led to lower demand for these food ingredients. The downstream pharmaceutical and animal feed industries, which are largely resilient to the pandemic witnessed demand growth in 2020. However, other non-food customers such as cosmetics, ethanol and paper producers lowered their production activities, thereby declining starch derivative consumption. Thus, the overall volume consumption of starch derivatives declined in 2020, reversing the growth trend of market value. The uncertain price of corn, particularly in the U.S. market led to highly volatile business margins in the starch and starch derivatives market.