Starch derivatives are utilized as tablet binder in pharmaceutical sector, as stabilizers and thickeners in the food and drink sector, as a fiber additive in animal feed, and as an emulsifier in the cosmetic industry. 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.
According to a recent report by Transparency Market Research (TMR), the global starch derivative market is foreseen to project a steady CAGR of 5.90% within the forecast period from 2015 to 2021.
The starch derivatives market in 2014 was valued around worth of US$45.3 bn, which at the end of forecast period is foreseen to reach around valuation of US$68.7 bn.
Increasing Investments by Organizations to Fuel Demand in Coming Years
Increase in population, surging demand regarding convenience food and drinks in developing nations, and rise in per-capita salary are among the major aspects boosting the development of global starch derivatives market. Furthermore, starch holds a significant place in the glue production, textile finishing and weaving, bio-fuel, and fermentation sectors.
The market is expected to observe a striking inflow of capital, as starch makers are expanding their attention on improving the nature of their items so as to have an edge over their competitors. Also, starch derivatives are foreseen to enlist a consistent uptake in the forthcoming years because of the continuous strides by the food and drinks sector. The utilization of these derivatives in personal care segment, as a coating in drugs, and in the animal feed is likewise anticipated to give potential scope for to the market development in the upcoming years.
Nevertheless, implementation of bio-fuels standards and rising costs of raw materials are among the hindering factors restricting the demand in the global starch derivatives market.
Asia Pacific to Lead Due to High Demands in India and China
On the basis of regions, the global market for starch derivatives is categorized as Europe, North America, Asia Pacific, and Rest of the World. With around more than30% share in Asia Pacific in 2014, the region emerged as a major shopper of starch derivatives. TMR anticipates that the region is estimated to stay at the front line all through the forecast period, on account of the surging demand with respect to these derivatives in India and China. This is pushed by the increasing inclination for consuming convenience food and drinks in these countries.
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The Asia Pacific starch derivative market in 2014 was valued around worth US$14 bn, which is an expanding CAGR of 5.50% within the forecast period to reach around US$21 bn by 2021-end.
Roquette Frères,ADM,Cargill Inc., Ingredion Incorporated,Emsland Group,Agrana Group, Tate and Lyle PLC,Avebe U.A., Global Bio-chem Technology Group Company Limited, and Grain Processing Corporationare the key players leading the global starch derivatives market. The market scenario is highly concentrated with several organizations embarking on steady research activities and product development.
In 2013, Cargill and Arasco collaborated in the Kingdom of Saudi Arabia (KSA) to form ‘Center East for Food Solutions Co’ (MEFSCO) so as to extend the production of sweeteners and starches. Cargill, in March 2014, introduced another corn sweetener and starch plant of 500,000 ton in Castro, Brazil.