In the Report “Starch Derivatives Market”: By Type (Maltodextrin, Cyclodextrin, Hydrolysates, Glucose Syrup and Modified Starch); By Application (Food & Beverage, Cosmetics, Pharmaceutical, Animal Feed, Paper, Bioethanol); By Geography – (2018-2023)” published by IndustryARC, the market is driven by its numerous functional benefits in food and non-food applications, and due to its advancement in several modification techniques.
Asia-Pacific dominates with major growth in the Starch Derivatives Market:
Asia-Pacific is the largest market for starch derivatives in 2017, with revenue of $16814.2 million. All of the major global players have established their operations in this region, and are expanding their reach. Due to such reasons, the APAC market is expected to exhibit the fastest and highest growth of 7% CAGR to reach revenue of $25277.62 million by 2023.
European market is the second leading region for its growing awareness regarding the various functionalities of starches is set to propel the market. The European market will grow at a CAGR of 4.59% to register revenue of $18402.17 million by 2023. It is followed by North American region that has an enormous existence of companies operating in construction, food & beverage, pharmaceuticals, chemicals and many other sectors.
The North America market is expected to grow at a CAGR of 4.41% and witnessed tremendous growth by 2023. Cyclodextrins is the segment to grow slowly and to reach least amount of $38 million by 2023.
Selected Type Analysis done in the full Report:
The Global Starch Derivatives market is segmented into a type which includes maltodextrin, Cyclodextrins, Glucose Syrup,Hydrolysates, and Modified Starch. Among all, Glucose Syrup is the leading market holder in terms of utilization.
The market held maximum revenue of $32390 million in 2017, and presently the market is expected to grow at a CAGR of 5.60% to register revenue of $44925 million by 2023. Glucose syrup is soluble, consistent, pure and non-irritating, and delivers highly versatile functionalities used in several applications.Modified starch market is the second leading market holder with a growing CAGR of 5.13% to reach revenue of $15678.03 million by 2023.
The enhanced properties such as increasing in water holding capacity, reinforce its binding, and improved thickening and others are the reason behind the increasing adoption.
Excerpts on Market Growth Factors:
Starch derivatives have a wide range of applications in food industry as texture improver, nutritional value and so on. The functional advantage in terms of solubility, viscosity and stability exhibit a wide spread use of these additives in packaged food production.The demand for packaged food products has been witnessing a consistent rise in the past few years and will continue towards the growth rate.
Rapidly growing population is getting addicted towards low calorie food coupled with growing popularityof starch modification will see an upsurge for these ingredientsin the coming years.
• The developments of all the new technologies that offer improvements and change of chemical modifications will definitely lead to substantial growth in the market.
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