Market Leader - in the Industrial Starch Market
The industrial starch market is projected to reach 113.9 MT at a CAGR of 3.80%, by volume from 2016 to 2022. In terms of value, the same market is projected to reach USD 106.64 Billion by 2022, at a CAGR of 6.64% from 2016. This market is driven by growth in demand for convenience foods, and multiple functionalities of starch, starch derivatives & sweeteners in diverse range of end-user industries.
The key market players have adopted strategies such as new product launches, expansions & investments, mergers & acquisitions, and joint ventures & agreements to meet the growing demand in the industrial starch market. Major players in the industrial starch market are Cargill (U.S), Archer Daniels Midland Company (U.S), Ingredion Incorporated (U.S), Tate & Lyle PLC (U.K.), and AGRANA Beteiligungs-AG (Austria). Other players include Grain Processing Company (U.S.), Roquette Frères (France), The Tereos Group (France), Royal Cosun (Netherlands), and Altia Industrial Services (Finland).
Cargill (U.S.) is one of the active players in the industrial starch market; it is engaged in the production of food, agricultural, financial, and industrial products & services. The company has adopted strategies of expansions & investments, and new product launches to grow its business. In 2016, it set up a new corn milling plant in Davangere, Karnataka (India), costing the company about USD 100 million. This was expected to help the company in meeting the growing demand for modified starch and its derivatives in the food and pharmaceutical industries. In 2015, the company launched a new modified starch, C*CreamTex 06329, which would enable fat reduction while ensuring mouthfeel and creaminess in yogurt, thereby, increasing its starch product portfolio catering to the dairy industry.
Archer Daniels Midland Company (ADM) is one of the world’s largest processors of oilseeds, corn, wheat, cocoa, and other agricultural commodities and is a leading manufacturer of protein meal, vegetable oil, corn sweeteners, flour, biodiesel, ethanol, and other value-added food and feed ingredients. The company has a well-established distribution network of local and international suppliers and distributers in the U.S. and international markets, which helps it to manufacture and deliver quality products at a reasonable price. Expansions & investments was the key strategy adopted by the company to grow its business. In 2013, the company set up a new Portland terminal in the U.S for handling corn syrup, high fructose corn syrup, starches, and dry and liquid sugar. This helped the company in expanding its handling capacities of sweeteners and starches.
Related Reports:
Industrial Starch Market by Type (Native, Starch Derivatives & Sweeteners), Source (Corn, Wheat, Cassava, Potato), Application (Food, Feed, Paper Making & Corrugation, Pharmaceutical), Form (Dry, Liquid), and Region - Global Forecast to 2022
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