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 increasing demand for sweeteners in the manufacturing of various food such as bakery and confectionery products is one of key factors boosting the potato starch market trends. Furthermore, the increasing consumer demand towards new and evolving food products, such as cake, bread, chocolate, sweets, and others, will support the potato starch market growth. The growing westernization and economies of developing countries will create growth opportunities for the market.
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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
According to the report, published by Fortune Business Insights in a report, 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” the market size stood at USD 473.06 million in 2018. The report offers informative insights into all the prevailing trends of the potato starch market. It shares a comprehensive summary of all the segments and regions. It provides statistical data on all the recent developments in the market. It is created after extensive research followed by all-encompassing analysis to benefit companies, stakeholders, financers and potential investors. It is designed with an aim to provide a clear picture of the market size. Moreover, it also includes product launches, acquisitions, collaborations & partnerships, and innovations and industry developments.
Growing Inclination Towards Sugar-free Diet and Healthy Food Products to Bolster Market Growth
The increasing focus of consumers towards sugar-free diet and a healthy lifestyle will enable the growth of the market during the forecast period. According to the International Diabetes Federation, South East Asia was considered one of the diabetic capitals in the world, with 82 million people suffering from diabetes in 2017. The rising consumption of sugar-free products and prefer sweeteners and its by-products to avoid diseases, and associated issues will create lucrative sales opportunities for the market. Furthermore, the increasing utilization of potato starch in the processing of sugar-free food products by manufacturers is predicted to accelerate the potato starch market share in the forthcoming year. Additionally, the rising shift in consumer eating choices is expected to encourage the growth of the market in the forthcoming years. Moreover, the increasing development of sweeteners in the food industry will enable speedy growth of the market 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 & textile industry owing to the growing population will create lucrative business opportunities for the market. The surge in the consumption of potato starch in various sectors, such as food and beverage, will also augur well for the market. For instance, thickeners and stabilizing agents and various RTE food products require potato starch for manufacturing. The rising demand for convenience food products such as processed meats and cheeses and canned products such as soups and pasta dishes will stimulate the growth of the market in the forthcoming years. In addition, the demand for potato starch in the pharmaceutical industry will foster healthy growth of the market in the foreseeable future. For instance, potato starch is used for the manufacturing of biomaterials. Biomaterials can also be used as biodegradable packaging materials owing to their environment-friendly factor. These factors and trends together will aid the expansion of the market.
Increasing Demand from Food & Beverage Industry will Facilitate Growth in Asia Pacific
Europe generated a revenue of USD 92.14 million and is predicted to grow rapidly during the forecast period. The growing demand for potato starch from the Food and Beverage Industry will enable growth in Europe. The increasing consumption of convenience food products in the region will encourage the growth of the market in Europe. Asia Pacific is expected to hold the second-largest market share in terms of value in the potato starch market owing to the flourishing textile and paper industry.
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.