Modified Starch Market by Raw Material (Corn, Cassava, Potato, and Wheat), Application [F&B (Bakery & Confectionery, Beverages, and Processed Foods), Animal Feed, and Industrial], Function, and Region-Global Forecast to 2023

The market for modified starch stood at USD 9.93 Billion in 2017; it is projected to grow at a CAGR of 4.1% from 2018, to reach USD 12.67 Billion by 2023. The base year considered for the study is 2017, and the forecast period is from 2018 to 2023. The basic objective of the report is to define, segment, and project the global market size for modified starch on the basis of modification type, raw material, function, application, and region. It also helps to understand the structure of the modified starch market by identifying its various segments. The other objectives include analyzing the opportunities in the market for stakeholders and providing a competitive landscape of market trends, analyzing the macro and micro indicators of this market, and projecting the size of the modified starch market and its submarkets, in terms of value as well as volume.

This report includes estimations of the market size in terms of value (USD million) and volume (million tons). Both, the top-down and bottom-up approaches have been used to estimate and validate the size of the global modified starch market and to estimate the size of various other dependent submarkets in the overall market. The key players in the market have been identified through secondary research; some of these sources are press releases, paid databases such as Factiva and Bloomberg, annual reports, and financial journals; their market shares in respective regions have also been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources. The figure below shows the breakdown of profiles of industry experts that participated in the primary discussions.

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The key participants in the supply chain of the modified starch are the product manufacturers, end-use industries, and raw material suppliers. The key players that are profiled in the report include Cargill (US), Ingredion Incorporated (US), Archer Daniels Midland Company (US), Tate & Lyle Plc. (UK), and Avebe U. A. (Netherlands).

This report is targeted at the existing stakeholders in the industry, which include the following:

• Regulatory and research organizations
• Raw material producers, suppliers, and distributors
• Modified starch manufacturers, traders, distributors, and dealers
• Research and consulting firms

The study answers several questions for stakeholders, primarily which market segments to focus on in next two to five years for prioritizing efforts and investments.

Scope of The Report

On the basis of raw material, the modified starch market has been segmented as follows:

• Corn
• Wheat
• Cassava
• Potato
• Others (Rice, yam, and tubers)

On the basis of function, the modified starch market has been segmented as follows:

• Thickeners
• Stabilizers
• Binders
• Emulsifiers
• Others (Sizing, gelling, adhesion, moisture retention, film formation, and fat substitution agents)

On the basis of application, the modified starch market has been segmented as follows:

• Food & beverages
  • Bakery & confectionery products
  • Beverages
  • Processed foods
  • Other food & beverage applications
• Industrial
  • Medicines & pharmaceuticals
  • Papermaking
  • Cosmetics
  • Weaving & textiles
  • Others (Adhesives, foundry, detergents, and cardboard manufacturing)
• Animal feed
  • Swine feed
  • Ruminant feed
  • Poultry feed
  • Other animal feed applications (Aquafeed and rabbit feed)

On the basis of region, the Modified starch market has been segmented as follows:

• North America
• Europe
• Asia Pacific
• RoW (South America and the Middle East & Africa)

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs.

The following customization options are available for the report:

Segment Analysis

• Product matrix, which gives a detailed comparison of the product portfolio of each company

Regional Analysis

• Further breakdown of the Rest of Asia Pacific modified starch market, by country
• Further breakdown of the Rest of Europe modified starch market, by country
• Further breakdown of South America, by country
• Further breakdown of the Middle East & Africa, by country

Company Information

• Detailed analysis and profiling of additional market players (up to five)

Table of Contents

1 Introduction (Page No. - 13)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
    1.4 Periodization
    1.5 Currency
    1.6 Units
    1.7 Stakeholders

2 Research Methodology (Page No. - 17)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Breakdown of Primaries, By Company Type, Designation, and Region
                    2.1.2.2 Key Industry Insights
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Market Breakdown & Data Triangulation
    2.4 Research Assumptions & Limitations
           2.4.1 Assumptions
           2.4.2 Limitations

3 Executive Summary (Page No. - 26)

4 Premium Insights (Page No. - 31)
    4.1 Attractive Opportunities in the Modified Starch Market
    4.2 North America: Modified Starch Market
    4.3 Modified Starch Market, By Raw Material & Region
    4.4 Modified Starch Market, By Application & Region
    4.5 Modified Starch Market Share: Key Countries
    4.6 Modified Starch Market, By Region

5 Market Overview (Page No. - 37)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Increasing Consumption of Processed and Convenience Food
                    5.2.1.2 Functional Properties of Modified Starch and Their Ease of Incorporation in A Wide Range of Food Applications
                    5.2.1.3 Growing Demand for Adhesives in A Range of Industrial Applications
                    5.2.1.4 Increasing Research & Development Activities to Develop Innovative Products
           5.2.2 Restraints
                    5.2.2.1 Limited Sources and High Costs of Natural Additives
                    5.2.2.2 Growing Gum Arabic Market
           5.2.3 Opportunities
                    5.2.3.1 Emerging Markets in Asia Pacific and Africa
                    5.2.3.2 Potential Alternative Sources of Modified Starch
                    5.2.3.3 Untapped Applications of Modified Starch
           5.2.4 Challenges
                    5.2.4.1 Approval From Various Regulatory Bodies
                    5.2.4.2 Rising Costs of Raw Materials
    5.3 Supply Chain Analysis

6 Modified Starch Market, By Raw Material (Page No. - 48)
    6.1 Introduction
    6.2 Corn
    6.3 Cassava
    6.4 Potato
    6.5 Wheat
    6.6 Others

7 Modified Starch Market, By Application (Page No. - 58)
    7.1 Introduction
    7.2 Food & Beverages
           7.2.1 Bakery & Confectionery Products
           7.2.2 Beverages
           7.2.3 Processed Foods
           7.2.4 Other Food & Beverage Applications
    7.3 Animal Feed
           7.3.1 Swine Feed
           7.3.2 Ruminant Feed
           7.3.3 Poultry Feed
           7.3.4 Other Animal Feed Applications
    7.4 Industrial
           7.4.1 Medicines & Pharmaceuticals
           7.4.2 Papermaking
           7.4.3 Cosmetics
           7.4.4 Weaving & Textiles
           7.4.5 Others

8 Modified Starch Market, By Function (Page No. - 81)
    8.1 Introduction
    8.2 Thickeners
    8.3 Stabilizers
    8.4 Binders
    8.5 Emulsifiers
    8.6 Others

9 Modified Starch Market, By Region (Page No. - 86)
    9.1 Introduction
    9.2 North America
    9.3 Europe
    9.4 Asia Pacific
    9.5 Rest of the World (RoW)

10 Modified Starch Market, By Modification Type (Page No. - 106)
     10.1 Introduction
     10.2 Physical Modification
             10.2.1 Pre-Gelatinized
             10.2.2 Hydrothermal
             10.2.3 Non-Hydrothermal
     10.3 Chemical Modification
             10.3.1 Cationic Starch
             10.3.2 Etherified Starch
             10.3.3 Esterified Starch
     10.4 Resistant Starch

11 Competitive Landscape (Page No. - 115)
     11.1 Overview
     11.2 Key Market Strategies
     11.3 Competitive Scenario
             11.3.1 New Product Launches
             11.3.2 Expansions & Investments
             11.3.3 Mergers & Acquisitions
             11.3.4 Joint Ventures

12 Company Profiles (Page No. - 121)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
     12.1 Archer Daniels Midland Company
     12.2 Cargill
     12.3 Ingredion Incorporated
     12.4 Tate & Lyle PLC
     12.5 Roquette Frères
     12.6 Avebe U. A.
     12.7 Grain Processing Corporation
     12.8 Emsland- Stärke GmbH
     12.9 Agrana Beteiligungs-AG
     12.10 Sms Corporation Co. Ltd
     12.11 Global Bio-Chem Technology Group Company Limited
     12.12 Spac Starch Products (India) Ltd.
     12.13 Qingdao Cbh Co., Ltd.

*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.

13 Regulatory Framework (Page No. - 160)
     13.1 Introduction
     13.2 Food and Drug Administration

14 Appendix (Page No. - 163)
     14.1 Discussion Guide
     14.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     14.3 Introducing RT: Real Time Market Intelligence
     14.4 Available Customizations
     14.5 Related Reports
     14.6 Author Details

List of Tables (92 Tables)

Table 1 US Dollar Exchange Rate Considered for Study, 2014–2016
Table 2 Research Conducted on the Physical Modification of Starch
Table 3 Top Five GDP Per Capita (Ppp) for Emerging Economies in Asia Pacific, 2013
Table 4 Modified Starch Market Size, By Raw Material, 2016–2023 (USD Million)
Table 5 Modified Starch Market Size, By Raw Material, 2016–2023 (Million Tons)
Table 6 Modified Corn Starch Market Size, By Region, 2016–2023 (USD Million)
Table 7 Modified Corn Starch Market Size, By Region, 2016–2023 (Million Tons)
Table 8 Modified Cassava Starch Market Size, By Region, 2016–2023 (USD Million)
Table 9 Modified Cassava Starch Market Size, By Region, 2016–2023 (Million Tons)
Table 10 Modified Potato Starch Market Size, By Region, 2016–2023 (USD Million)
Table 11 Modified Potato Starch Market Size, By Region, 2016–2023 (Million Tons)
Table 12 Modified Wheat Starch Market Size, By Region, 2016–2023 (USD Million)
Table 13 Modified Wheat Starch Market Size, By Region, 2016–2023 (Million Tons)
Table 14 Others: Modified Starch Market Size, By Region, 2016–2023 (USD Million)
Table 15 Others: Modified Starch Market Size, By Region, 2016–2023 (Million Tons)
Table 16 Modified Starch Market Size, By Application, 2016–2023 ( USD Million)
Table 17 Modified Starch Market Size, By Application, 2016–2023 (Million Tons)
Table 18 Modified Starch Market Size, By Food & Beverage Application, 2016–2023 (USD Million)
Table 19 Modified Starch Market Size, By Food & Beverage Application, 2016–2023 (Million Tons)
Table 20 Food & Beverages Market Size, By Region, 2016–2023 (USD Million)
Table 21 Food & Beverages Market Size, By Region, 2016–2023 (Million Tons)
Table 22 Bakery & Confectionery Products Market Size, By Region, 2016–2023 (USD Million)
Table 23 Bakery & Confectionery Products Market Size, By Region, 2016–2023 (Million Tons)
Table 24 Beverages Market Size, By Region, 2016–2023 (USD Million)
Table 25 Beverages Market Size, By Region, 2016–2023 (Million Tons)
Table 26 Processed Foods Market Size, By Region, 2016–2023 (USD Million)
Table 27 Processed Foods Market Size, By Region, 2016–2023 (Million Tons)
Table 28 Other Food & Beverage Applications Market Size, By Region, 2016–2023 (USD Million)
Table 29 Other Food & Beverage Applications Market Size, By Region, 2016–2023 (Million Tons)
Table 30 Modified Starch Market Size, By Animal Feed Application, 2016–2023 (USD Million)
Table 31 Modified Starch Market Size, By Animal Feed Application, 2016–2023 (Million Tons)
Table 32 Animal Feed Market Size, By Region, 2016–2023 (USD Million)
Table 33 Animal Feed Market Size, By Region, 2016–2023 (Million Tons)
Table 34 Swine Feed Market Size, By Region, 2016–2023 (USD Million)
Table 35 Swine Feed Market Size, By Region, 2016–2023 (Million Tons)
Table 36 Ruminant Feed Market Size, By Region, 2016–2023 (USD Million)
Table 37 Ruminant Feed Market Size, By Region, 2016–2023 (Million Tons)
Table 38 Poultry Feed Market Size, By Region, 2016–2023 (USD Million)
Table 39 Poultry Feed Market Size, By Region, 2016–2023 (Million Tons)
Table 40 Other Animal Feed Applications Size, By Region, 2016–2023 (USD Million)
Table 41 Other Animal Feed Applications Market Size, By Region, 2016–2023 (Million Tons)
Table 42 Modified Starch Market Size, By Industrial Application, 2016–2023 (USD Million)
Table 43 Modified Starch Market Size, By Industrial Application, 2016–2023 (Million Tons)
Table 44 Industrial Application Market Size, By Region, 2016–2023 (USD Million)
Table 45 Industrial Application Market Size, By Region, 2016–2023 (Million Tons)
Table 46 Medicines & Pharmaceuticals Market Size, By Region, 2016–2023 (USD Million)
Table 47 Medicines & Pharmaceuticals Market Size, By Region, 2016–2023 (Million Tons)
Table 48 Papermaking Market Size, By Region, 2016–2023 (USD Million)
Table 49 Papermaking Market Size, By Region, 2016–2023 (Million Tons)
Table 50 Cosmetics Market Size, By Region, 2016–2023 (USD Million)
Table 51 Cosmetics Market Size, By Region, 2016–2023 (Million Tons)
Table 52 Weaving & Textiles Market Size, By Region, 2016–2023 (USD Million)
Table 53 Weaving & Textiles Market Size, By Region, 2016–2023 (Million Tons)
Table 54 Modified Starch Market Size for Other Applications, By Region, 2016–2023 (USD Million)
Table 55 Modified Starch Market Size for Other Applications, By Region, 2016–2023 (Million Tons)
Table 56 Modified Starch Market Size, By Function, 2016–2023 (USD Million)
Table 57 Modified Starch Market Size, By Function, 2016–2023 (Million Tons)
Table 58 Modified Starch Market Size, By Region, 2016–2023 (USD Million)
Table 59 Modified Starch Market Size, By Region, 2016-2023 (Million Tons)
Table 60 North America: Modified Starch Market Size, By Country, 2016–2023 (USD Million)
Table 61 North America: Modified Starch Market Size, By Raw Material, 2016–2023 (USD Million)
Table 62 North America: Modified Starch Market Size, By Application, 2016–2023 (USD Million)
Table 63 North America: Modified Starch Market Size, By Food & Beverage Application, 2016–2023 (USD Million)
Table 64 North America: Modified Starch Market Size, By Animal Feed Application, 2016–2023 (USD Million)
Table 65 North America: Modified Starch Market Size, By Industrial Application, 2016–2023 (USD Million)
Table 66 Europe: Modified Starch Market Size, By Country, 2016–2023 (USD Million)
Table 67 Europe: Modified Starch Market Size, By Raw Material, 2016–2023 (USD Million)
Table 68 Europe: Modified Starch Market Size, By Application, 2016–2023 (USD Million)
Table 69 Europe: Modified Starch Market Size, By Food & Beverage Application, 2016–2023 (USD Million)
Table 70 Europe: Modified Starch Market Size, By Animal Feed Application, 2016–2023 (USD Million)
Table 71 Europe: Modified Starch Market Size, By Industrial Application, 2016–2023 (USD Million)
Table 72 Asia Pacific: Modified Starch Market Size, By Country, 2016–2023 (USD Million)
Table 73 Asia Pacific: Modified Starch Market Size, By Raw Material, 2016–2023 (USD Million)
Table 74 Asia Pacific: Modified Starch Market Size, By Application, 2016–2023 (USD Million)
Table 75 Asia Pacific: Modified Starch Market Size, By Food & Beverage Application, 2016–2023 (USD Million)
Table 76 Asia Pacific: Modified Starch Market Size, By Animal Feed Application, 2016–2023 (USD Million)
Table 77 Asia Pacific: Modified Starch Market Size, By Industrial Application, 2016–2023 (USD Million)
Table 78 RoW: Modified Starch Market Size, By Region, 2016–2023 (USD Million)
Table 79 RoW: Modified Starch Market Size, By Raw Material, 2016–2023 (USD Million)
Table 80 RoW: Modified Starch Market Size, By Application, 2016–2023 (USD Million)
Table 81 RoW: Modified Starch Market Size , By Food & Beverage Application, 2016–2023 (USD Million)
Table 82 RoW: Modified Starch Market Size, By Animal Feed Application, 2016–2023 (USD Million)
Table 83 RoW: Modified Starch Market Size, By Industrial Application, 2016–2023 (USD Million)
Table 84 Research on the Physical Modification of Starch.
Table 85 Functions of Pre-Gelatinized Modified Starch in Food & Beverage Applications
Table 86 Chemical Modification of Starch
Table 87 Etherified Starch in Food Applications
Table 88 Functions, Benefits, and Use of Resistant Modified Starch in Food & Beverage Applications
Table 89 New Product Launches, 2015–2016
Table 90 Expansions & Investments, 2013–2018
Table 91 Mergers & Acquisitions, 2012–2017
Table 92 Joint Ventures, 2015

List of Figures (45 Figures)

Figure 1 Market Segmentation: Modified Starch Market
Figure 2 Regional Segmentation
Figure 3 Modified Starch Market: Research Design
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 Data Triangulation
Figure 7 Assumptions of the Research Study
Figure 8 Limitations of the Research Study
Figure 9 Modified Starch Market Size, By Raw Material, 2018 vs 2023 (USD Million)
Figure 10 Modified Starch Market Size, By Function, 2018 vs 2023 (USD Million)
Figure 11 Modified Starch Market Size, By Application, 2018 vs 2023 (USD Million)
Figure 12 Food: Modified Starch Market Snapshot 2018 vs 2023 (USD Million)
Figure 13 Modified Starch Market Share (Value), By Region, 2017
Figure 14 High Demand for Modified Starch During the Forecast Period
Figure 15 North America: Modified Starch Market Share, By Food Application & Country, 2016
Figure 16 Corn Segment Estimated to Record the Largest Share in 2018
Figure 17 Food Segment Recorded the Largest Share in 2018
Figure 18 China, India, and Thailand to Be Important Markets for Modified Starch During the Forecast Period
Figure 19 Steady Growth is Projected in All Regions During the Forecast Period
Figure 20 Modified Starch Market: Drivers, Restraints, Opportunities, and Challenges
Figure 21 Cassava Price Trend, 2015–2016 (USD/Metric Ton)
Figure 22 US Corn Prices, 2002–2016 (USD/Metric Ton)
Figure 23 Corn Segment is Expected to Dominate the Market From 2018 to 2023 (USD Million)
Figure 24 North America to Account for the Largest Share in the Corn Segment, 2018–2023 (USD Million)
Figure 25 The Food & Beverages Segment Dominated the Market From 2018 to 2023 (USD Million)
Figure 26 Bakery & Confectionery Products are Projected to Dominate the Modified Starch Market in the Food & Beverages Industry Through 2023
Figure 27 Thickeners Segment to Dominate the Market Through 2023
Figure 28 Regional Snapshot: New Hotspots Emerging in Asia Pacific, 2018–2023
Figure 29 North America: Modified Starch Market Snapshot
Figure 30 Europe: Modified Starch Market Snapshot
Figure 31 Asia Pacific Modified Starch Market Snapshot
Figure 32 Key Developments By Leading Players in the Modified Starch Market From 2014 to 2018
Figure 33 Modified Starch Market Developments, By Growth Strategy, 2012–2018
Figure 34 Archer Daniels Midland Company: Company Snapshot
Figure 35 Archer Daniels Midland Company: SWOT Analysis
Figure 36 Cargill: Company Snapshot
Figure 37 Cargill: SWOT Analysis
Figure 38 Ingredion Incorporated: Company Snapshot
Figure 39 Ingredion Incorporated: SWOT Analysis
Figure 40 Tate & Lyle PLC: Company Snapshot
Figure 41 Tate & Lyle PLC: SWOT Analysis
Figure 42 Roquette Frères: SWOT Analysis
Figure 43 Avebe U. A.: Company Snapshot
Figure 44 Agrana Beteiligungs-AG: Company Snapshot
Figure 45 Global Bio-Chem Technology Group Company Limited: Company Snapshot

The modified starch market is projected to grow at a CAGR of 4.1% from 2018, to reach a value of USD 12.67 Billion by 2023. Modified starch refers to a starch product that is modified chemically to withstand the processes it is subjected to for use in various applications; this is witnessing significant growth due to increasing incorporation in a wide range of foods and cost-effectiveness offered by them, along with the enhanced functionalities they provide in comparison to native starch.

Starches are modified to increase their stability under excessive heat, acid treatment, and freezing, to change their texture, or to increase or reduce the duration of gelatinization. Acid-treated starch is prepared by treating starch or starch granules with inorganic acids. Other treatments may produce modified starch such as alkaline-modified starch, bleached starch, oxidized starch, enzyme-treated starch, and acetylated starch with different enzymes.

The increasing use of modified starch in the food industry and growing industrial applications for modified starch in the paper, textile, cosmetics and pharmaceutical industries are some of the factors that are expected to drive market growth through the next five years in most regions.

On the basis of raw material, the modified starch market was led by the corn segment in 2017. Corn is a staple food, and is preferred across the globe due to its importance in the diets of several countries. It can be consumed in a variety of ways, such as porridge, popcorn, vegetable, roasted or fired kernels, or as flour or meal. It is one of the most largely commercially available raw material of modified starch.

The thickeners segment dominated the market in 2017. Modified starch as a thickening agent intensifies the viscosity of a liquid without significantly changing its other properties. In the food industry, thickeners are generally used in gravies, puddings, sauces, and soups without altering the taste.

The modified starch market, on the basis of application, is segmented into food & beverages, feed, and industrial. Different applications require different starch properties. In the food applications of modified starches could be divided into several subsegments, according to their applications, such as bakery & confectionery, beverages, and processed foods.

North America accounted for the largest market share for modified starch in 2017, owing to the increase in demand for modified starch in processed foods in countries such as the US and Canada. However, Asia Pacific is projected to be the fastest-growing market during the forecast period, due to increase in awareness and production of processed foods.

Asian countries, especially China, have emerged as leading destinations, thereby facilitating the market shift from developed economies to developing economies. In relatively saturated markets such as the US and Europe, value-based pricing and raw material sourcing have emerged as major strategies for companies looking to establish a strong foothold in these markets.

Availability of raw materials depends on climatic conditions, as unfavorable conditions hamper the overall production and impact the supply of raw materials for deriving modified starch. This also leads to increased raw material prices, affecting the final price of the modified starch product. The increasing use of gum arabic as a substitute for modified starch in beverages and confectionery products is also restraining the growth of the modified starch market.

Companies such as Archer Daniels Midland (US), Cargill (US), Ingredion Incorporated (US), Tate & Lyle (UK), and Roquette Frères (France) have acquired leading market positions through the provision of a broad portfolio, catering to the varied requirements of the market, along with a focus on the diverse end-user segments. They are also focused on innovation and are geographically diversified.

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