The global starch derivatives market is foreseen to witness a competitive scenario, with a presence of several firms in the market, depicting a fragmented structure. In 2014, the top four firms, to be specific, Ingredion Inc., AGRANA Group, Archer Daniels Midland Co., and Tate and Lyle Plc, together held a share of 22.3% in the global market.
As of now, the main maufacturers of starch derivatives are concentrating on enhancing the nature of their products so as to reinforce their market presence. In any case, in the forthcoming years, these organizations are probably going to go into major tie-ups and mergers with regional players keeping in mind the end goal to extend their global reach. Cargill Inc., BENEO-Palatinit GmbH, Roquette Frères S.A., Avebe U.A., Emsland-Stärke Gmbh, and Grain Processing Corp. are a among the major firms leading the starch derivatives makers over the world. The global scope in starch derivatives was valued around worth of US$45.3 bn in year 2014. Expanding at a CAGR of 5.90% within the forecast period from 2015 to 2021, it is expectd to be of worth US$68.7 bn by the end of 2021.
Starch derivatives are witnessing high demand in cosmetics, pharmaceuticals, feed, paper, food and beverages, and different other products, for example, bioethanol and biofuels. The rapid rise in demand for these derivatives emerges from the food and beverages segment. The developing popularity of food on the go and non-carbonated and caffeinated drinks has filled their application in this segment and the pattern is anticipated to continue in the upcoming years as well. Asia Pacific is evaluated to remain the main region market for starch derivatives all through the forecast period from 2015 to 2021. The surge in demand for starch derivatives in India and China is the key factor behind the solid position of Asia Pacific in the global market for starch derivatives.
Lack of Time to Eat Food due to Busy Lifestyle to Propel Market Growth
The hyperactive way of life of individuals everywhere throughout the world has provided them with no sufficient time to have their food, fueling the demand for convenience food and beverages. While the growth for starch derivatives market is as of now high in developed countries, for example, the U.S., Germany, and the U.K., the quick urbanization is anticipated to fuel their demand in rising economies, for example, India, China, and Brazil. The increase in growth of these derivatives in natural sweeteners and their developing industrial usage is also providing promising scope in them altogether.
Request to view Sample Report:
Fluctuating Cost of Products to Hinder Market Growth
On the other hand, the high unpredictability in costs of raw materials used to deliver starch derivatives is a noteworthy obstruction to the development of this market. The lack of these raw materials, attributable to their growing usage use in other industrial procedures, the shortage of customized starch subsidiary products, and the accessibility of choices, for example, gum, may also hamper the utilization of these derivatives within the forecast period.