Market Overview:
The global potato starch market size was USD 500.07 million in 2019 and is projected to reach USD 1142.78 million by 2032, exhibiting a CAGR of 6.62% during the forecast period based on our analysis in the existing report.
The rising demand for sweeteners in making foods like bakery and confectionery items is a major factor driving trends in the potato starch market. Additionally, consumers' growing interest in new and innovative food products like cakes, bread, chocolates, and sweets is expected to support the market's growth. The increasing influence of Western culture and the economic growth of developing countries will also provide opportunities for the market to expand.
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Some of the Major Companies Operating in the Potato Starch Market are:
Emsland Group
Cargill, Incorporated
PEPEES Group
Roquette
Ingredion Incorporated
KMC
Novidon
AGRANA
Tereos
Vimal PPCE
A report by Fortune Business Insights, titled “Potato Starch Market Size, Share & Industry Analysis, By Nature (Organic and Conventional), End-use (Textile & Paper, Food & Beverages, and Pharmaceuticals), Type (Native and Modified), and Regional Forecast, 2020-2032,” states that the market size was USD 473.06 million in 2018. The report provides detailed insights into current trends in the potato starch market, covering all segments and regions. It includes recent market developments and is based on extensive research and analysis, making it valuable for companies, stakeholders, financiers, and potential investors. The report aims to give a clear picture of the market size and includes information on product launches, acquisitions, collaborations, partnerships, innovations, and industry developments.
Growing Inclination Towards Sugar-free Diet and Healthy Food Products to Bolster Market Growth
Consumers' growing focus on sugar-free diets and healthy lifestyles is expected to boost the market's growth in the coming years. According to the International Diabetes Federation, South East Asia had 82 million people with diabetes in 2017, making it one of the world's diabetic capitals. This rise in diabetes has led to increased demand for sugar-free products and sweeteners to prevent diseases and related issues, creating lucrative sales opportunities for the market. Additionally, manufacturers are increasingly using potato starch in sugar-free food products, which is predicted to boost the potato starch market share. Changing consumer eating habits are also expected to encourage market growth. Moreover, ongoing developments in sweeteners within the food industry will likely drive rapid market expansion in the foreseeable future.
Source: https://www.fortunebusinessinsights.com/industry-reports/potato-starch-market-101789
Expansion of Paper & Textile Industry will Consequently Favor Healthy Growth
The rapidly growing paper and textile industries, driven by the increasing population, will create great business opportunities for the market. The rising use of potato starch in various sectors, such as food and beverages, will also benefit the market. For example, potato starch is needed as a thickener and stabilizing agent in many ready-to-eat food products. The increasing demand for convenience foods like processed meats, cheeses, canned soups, and pasta dishes will boost the market's growth in the coming years. Additionally, the pharmaceutical industry's demand for potato starch will promote healthy market growth, as it is used in manufacturing biomaterials, which can also serve as biodegradable packaging materials due to their eco-friendliness. These factors and trends will collectively support the market's expansion.
Increasing Demand from Food & Beverage Industry will Facilitate Growth in Asia Pacific
Europe generated USD 92.14 million in revenue and is expected to grow quickly in the coming years. The growing demand for potato starch from the food and beverage industry will drive this growth. The increasing consumption of convenience foods in the region will also support market expansion. Asia Pacific is anticipated to hold the second-largest market share in terms of value, thanks to its booming textile and paper industries.
KEY INDUSTRY DEVELOPMENTS:
January, 2019 – Ingredion Inc. acquired the U.S.-based Western Polymer Corporation. The company produces modified and native potato starches. This acquisition helps the company deliver raw materials for industrial purposes.