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New Revenue Pockets for Modified Starch Market
The easy availability of corn and its wide application as corn starch and modified corn starch makes it as a major source for modified starch. The price is lower than modified tapioca or wheat starch, with a wider range of applications. In food application, corn starch is used in gluten-free products against wheat, as the latter contains gluten in it. Firms such as ADM are specialists in producing wide categories of corn starch and serve various application industries such as food manufacturing, paper manufacturing, and many more, across the globe. Tapioca is a major crop with its abundant availability and usage in Asia-Pacific region, and arising as a major competitor for corn starch. Still, corn starch is still expected to maintain its market share for a longer period of time.
Asia-Pacific: Growing Market Whereas North America Leads The Way
North America leads the global modified starch market with wide availability of corn, which has broad array of food, non-food, and feed applications. The consumption pattern and developed economy in North America played a special role in triggering the modified starch market as well. There is a considerable inflow of money in the region and all the industries be it food, pharmaceutical, drilling, paper, cosmetics etc., are monetarily strong. The growing application industry also forms a major driver for the growth of ingredient industry. Hence, the case is same with modified starch. The application industries in the region focuses on quality, therefore uses modified starch in all possible applications.
Asia-Pacific is estimated to experience a high growth rate due to its aim of commercializing and widening the application of cassava across the globe.
Food Dominates The Modified Starch Application Market
Modified starch found its major application in the food sector as its functions are most required in food processing. It is used in sub-segments of food such as bakery, confectionery, processed food, beverages, etc. Modified starch performs function like emulsification, stabilization, thickening, etc. For instance, modified tapioca starch is used in convenience or processed food such as noodles, soups, etc., in order to maintain the paste viscosity. Various starches have different characteristics and are used in food applications based on the requirements of different food products. The other applications of modified starch include the paper industry, medicine & pharmaceuticals, drilling industry, cosmetics, glues and adhesives, and many more in the non-food sector.
Modified Starch Market by Raw Material (Corn, Tapioca, Potato, Wheat, and Others), by Application (Food, Feed, and Non-Food) - Global Trends & Forecasts to 2018
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