The global industrial starch market size was valued at USD 117.42 billion in 2023 and is predicted to reach around USD 231.63 billion by 2033, expanding at a CAGR of 7.03% from 2024 to 2033.
Key Points
- The North America hemophilia treatment market size reached USD 55.19 billion in 2023 and is expected to attain around USD 110.02 billion by 2033, poised to grow at a CAGR of 7.14% between 2024 and 2033.
- North America dominated the market with the biggest revenue share of 47% in 2023.
- Asia Pacific is expected to host the fastest-growing market during the forecast period.
- By source, the corn segment has contributed more than 79% of revenue share in 2023.
- By source, the wheat starch segment is expected to grow at the fastest rate in the market over the forecast period.
- By product, in 2023, the native starch & starch derivatives segment has held a largest revenue share of 61% in 2023.
- By product, the acid-modified starch segment is expected to witness the fastest growth in the market during the forecast period.
- By application, the food & beverages segment has held a major revenue share of 57% in 2023.
- By application, the pharmaceutical segment is projected to show significant expansion in the market over the forecast period.
The industrial starch market is a significant sector within the global economy, driven by the demand for starch in various industries such as food and beverages, pharmaceuticals, textiles, paper, and packaging. Industrial starch is derived from various sources like corn, wheat, potato, and cassava and is utilized for its thickening, gelling, and stabilizing properties. The market has seen substantial growth due to its wide range of applications and the increasing demand for processed and convenience foods.
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Growth Factors
Several factors contribute to the growth of the industrial starch market. The expanding food and beverage industry, particularly the rising demand for convenience and processed foods, is a major driver. Technological advancements in starch modification techniques have also enhanced the functionality and application range of starch. Additionally, the growing trend towards biodegradable and sustainable packaging materials has boosted the demand for starch-based products. The increasing awareness and preference for natural and clean-label ingredients further propel market growth.
Region Insights
The industrial starch market exhibits varying trends across different regions. North America and Europe are mature markets with a high demand for starch in food processing and industrial applications. The Asia-Pacific region is witnessing rapid growth, driven by the increasing population, urbanization, and the expanding food and beverage industry. Countries like China, India, and Japan are key contributors to the market growth in this region. Latin America and the Middle East & Africa are emerging markets with significant potential due to the growing food processing industry and increasing industrialization.
Industrial Starch Market Scope
| Report Coverage | Details |
| Market Size by 2033 | USD 231.63 Billion |
| Market Size in 2023 | USD 117.42 Billion |
| Market Size in 2024 | USD 125.67 Billion |
| Market Growth Rate from 2024 to 2033 | CAGR of 7.03% |
| Largest Market | North America |
| Base Year | 2023 |
| Forecast Period | 2024 to 2033 |
| Segments Covered | Source, Product, Application, and Regions |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Industrial Starch Market Dynamics
Drivers
Key drivers of the industrial starch market include the rising demand for convenience and processed foods, the expansion of the pharmaceutical and textile industries, and the growing trend towards biodegradable packaging. Innovations in starch modification and the development of new applications in non-food industries also drive market growth. Additionally, the increasing consumer preference for natural and clean-label products supports the demand for starch in various applications.
Opportunities
The industrial starch market offers numerous opportunities for growth and expansion. The development of new and innovative starch-based products with enhanced functionalities presents significant potential. The increasing demand for sustainable and biodegradable materials in packaging offers opportunities for starch-based alternatives. Additionally, the growing awareness of the health benefits of resistant starch opens up new avenues in the food and beverage industry. Expansion into emerging markets with untapped potential also provides opportunities for market players.
Challenges
Despite the positive growth outlook, the industrial starch market faces several challenges. Fluctuations in raw material prices, particularly corn and wheat, can impact production costs and profit margins. Regulatory challenges related to food safety and labeling standards pose hurdles for market players. The competition from alternative products, such as synthetic and modified starches, also presents challenges. Furthermore, the need for continuous innovation and technological advancements to meet evolving consumer demands and industry standards remains a key challenge for the market.
Read Also: Hemophilia Treatment Market Size to Reach USD 52.36 Bn by 2033
Industrial Starch Market Companies
- Cargill, Incorporated
- Archer Daniels Midland Company
- Ingredion Incorporated
- Tate & Lyle PLC
- AGRANA Beteiligungs-AG
- Grain Processing Corporation
- Roquette Frères
- Tereos Group
- Royal Cosun
- Altia Industrial
- Global Bio-chem Technology Group Company Limited
- General Starch Limited
- Eiamheng
- Coöperatie Koninklijke Avebe U.A.
- Galam Group
Recent Developments
- In June 2023, Cargill announced a partnership with BASF, a global chemical company, to develop bio-based, high-performance plastics using renewable feedstocks, including starch-derived materials.
- In April 2023, Archer Daniels Midland (ADM) acquired a controlling stake in Harvest Innovations, a leading manufacturer of organic and gluten-free ingredients, expanding its portfolio of specialty starches and proteins.
- In March 2023, Ingredion Inc. invested in a new facility in China to produce clean-label starches and sweeteners, catering to the growing demand for natural and functional ingredients in the region.
- In December 2022, Cargill partnered with Renmatix, a specialist in plant-based technology, to develop innovative ingredients using cellulosic sugars derived from non-food biomass.
Segments Covered in the Report
By Source
- Corn
- Wheat
- Cassava
- Potato
- Others
By Product
- Native Starch and Starch Derivatives & Sweeteners
- Cationic Starch
- Ethylated Starch
- Oxidized Starch
- Acid Modified Starch
- Unmodified Starch
By Application
- Food & Beverage
- Bakery & Confectionery
- Dairy & Frozen Desserts
- Beverages
- Convenience Foods
- Others
- Feed
- Pharmaceuticals
- Others
By Geography
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East & Africa
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