Published By : 23 Feb 2016 | Published By : QYRESEARCH
The starch derivatives market is an integral part of the food and beverages market apart from finding its applications in other varying industries such as paper, cosmetics, animal feed, bio fuels, textile, paper and glue, pharmaceuticals, and also the fermentation industries. Starch derivatives are used for the purpose of obviating the defects of raw starches and meeting the requirements of the respective industry, by means of its useful properties, and is therefore required in various industries, fueling the market for starch derivatives.
Global Starch Derivatives Market to Exhibit a CAGR of 5.90% from 2015 to 2021
According to a report published by a market intelligent firm called Transparency Market Research, the global starch derivatives market valued at US$45.3 bn in the year 2014, and is estimated to reach US$68.7 bn by 2021. The reason for such high growth can be attributed to the increasing awareness among people related to health concerns, thereby leading to an increase in the use of starch derivatives, benefiting the market for starch derivatives.
Starch Derivatives Market to Benefit from Increased Consumption of Energy and Non-Carbonated Drinks
Non-Carbonated drinks and energy drinks have ample amount of sweeteners, which has increased the demand for starch derivatives. Increased health awareness and hence a demand for natural sweetener has thus led to the growth of the global starch derivatives market.
Market for Glucose Syrup to Expand at a CAGR of 5.70 from 2015 to 2021, Owing to its Large Number of Applications in various industries
Based on product type, the starch derivatives market is segmented into modified starch, maltodextrin, cyclodextrin, hydrolysates, and glucose syrup, out of which, glucose syrup held the largest market share in 2014 and is expected to dominate the market till 2021. The paper, cosmetics, feeds and pharmaceuticals industry make use of glucose syrup, increasing the demand for the same. The market for glucose syrup is further fueled by its use as a texture agent, flavor enhancer, and volume adding agent.
Availability of Alternative Products such as Gum, can hinder the Market for Starch Derivatives
The starch derivatives market faces few restraints such as the growing use of substitutes for starch derivatives or an increase in the cost of the raw materials. Lack of customized starch derivatives and availability of alternative products is anticipated to be the reason for hampering the growth of the starch derivatives market.