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Starch is considered as one of the versatile food additives in the food industry. Industrial starch is extensively used in the food industry as it offers an excellent stabilizing effect. Furthermore, industrial starch can be modified either chemically or physically for multipurpose uses. The industrial starch comes from a low-cost source such as corn, rice, and others. The capacity of easy modification is making starch as one of the most crucial ingredients in food preparation.
Industrial starch is extensively used in convenient foods as a functional ingredient owing to its desirable attributes such as it can improve crispiness, reduce oil absorption, and can improve the overall quality of the food product. Starch-based coatings can replace fat or oil in low-fat baked food. The prominent companies are focused on research and development and on new product development and launches to increase their footprints in the global industrial starch market. For instance, in April 2017, Ingredion Inc. launched new texturizers Presica Crisp 31 (native corn starch) and Presica Crisp 151 (modified tapioca starch) for baked chips.
Key Market Driver -
Increasing Adoption of Bio-Based Products across Food Industry
Key Market Restraint -
Fluctuating Raw Material Prices
Industrial starches can manage texture, control moisture, and stabilize the products such as yogurt, bakery items, and convenience foods and help manufacturers to reach their desired product quality. Increasing consumer awareness and concerns about food ingredients used in food products and rising preference to bio-based ingredients is expected to leverage the global industrial starch market positively. The increasing investment by prominent market players on innovating and commercializing non-GMO starches in the global industrial starch industry will further boost the growth of the global industrial starch market. For instance, in May 2018, Tate and Lyle PLC, the global provider of food ingredients, introduced 17 new non-GMO starches which offer the same functionality as their traditional equivalents.
Fluctuating prices of raw material such as corn, wheat, rice, and others and high initial investment are expected to hamper the growth of the global industrial starch market. The cost of raw material fluctuates according to its availability, source, and production.
The native starch segment is anticipated to witness considerable growth in the global industrial starch market. Increasing consumer demand for less processed ingredients is expected to boost the demand for native starch. Native starches are pure forms of starch. They can be obtained from sources such as corn, wheat, potato, rice, cassava, etc. and have a variety of applications in the processed food industry such as texturizing and gelling agents. Removing the native food starch from a product may impact its consistency, mouthfeel, and stability. The multifunctional use of native starch in the processed food industry is expected to boost the demand for native starch in this market.
The corn starch segment is expected to witness robust growth in the global industrial starch market in forthcoming years. Corn starch is extensively used as a thickening agent in liquid-based foods such as soups, sauces, gravies, etc., Corn starch is usually incorporated as an anti-caking agent in powdered sugar. The diverse uses of corn starch make it a very versatile ingredient in the food and beverage industry.
The use of industrial starch in the food and beverage industry is projected to witness substantial growth in the global industrial starch market. In the meat processing industry, starches are widely used for water retention and texture improving characteristics. Industrial starches are added to meat products formulations as water binders to reduce formulation cost and improve texture. Furthermore, industrial starches are extensively used in bakery and confectionary industry as a swelling and emulsifying agents.
North America is anticipated to witness robust growth in the global industrial starch market in the forthcoming years. The growing consumer base looking for healthy food and beverage options, and increasing adoption of new ways to reduce calories, fat, and sugar by manufacturers is anticipated to boost the demand for native starch in this region. The presence of prominent companies operating in this industry, such as Grain Processing Corporation, Archer Daniels Midland Company, and others can act as a driving factor for the growth of this industrial starch market.
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Asia Pacific is expected to witness robust growth in the global industrial starch market owing to the high cultivation of raw products such as cassava, sweet potato and maize in countries such as China, Thailand, Indonesia, India, and others. The vast production of raw products can result in the easy availability of the product and expected to leverage the industrial starch industry in this region positively. Furthermore, the rising per capita income and increasing consumer's demand for a more varied set of food and manufactured products that utilizes starch in their making can impact the growth of the market positively.
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