Potato Starch Market to Surge at a Robust Pace In Terms Of Revenue Over 2032
Market Overview:
The global potato starch market is anticipated to expand at a CAGR of 4.8%, being currently valued at US$ 10.27 Bn in 2022. As such, potato starch sales are predicted to be worth US$ 16.48 Bn by the end of the year 2032.Potato starch consumption accounted for around 15% to 20% value share of the global food ingredients market in 2021.
Potato starch is a carbohydrate extracted from potatoes, primarily through a process that involves washing, crushing, and separating the starch from the potato cells. It is a versatile ingredient used in various industries, including food and beverage, pharmaceuticals, and industrial applications.
Consumers have become more educated about the negative implications of processed, unnatural foods, and hence, they demand more transparency about the actual ingredients and processes involved in producing the same. Such trends, coupled with severe scrutiny on artificial ingredients and labels, are forcing additive and ingredient producers and suppliers to opt for cleaner solutions as the market landscape evolves.
The market space for ingredients and additives is also observing evolution on the grounds of chemical-free processing and natural procurement of raw materials. These ingredients are sure to offer clean label-friendly products to food & beverage manufacturers, which, in turn, can provide clean label processed edible end products to consumers. Certainly, there is no exception for starches when it comes to clean label processing, and over the past decade, the food processing industry has also observed an upsurge in demand for the same, which bodes well for potato starch suppliers.
Key Drivers of the Potato Starch Market:
- Growing Demand in Food Industry:
- Potato starch is widely used as a thickening agent, stabilizer, and texture enhancer in the food industry. It is utilized in the production of soups, sauces, gravies, and bakery products.
- Increased consumer awareness of gluten-free and clean-label products has boosted the demand for potato starch as a gluten-free alternative in various food applications.
- Industrial Applications:
- Potato starch finds applications in non-food industries, including papermaking, textiles, and adhesives. Its adhesive properties make it valuable in industries requiring binding agents.
- The textile industry uses potato starch as a sizing agent, contributing to the finishing process of textiles.
- Health and Wellness Trends:
- The perception of potato starch as a natural and clean-label ingredient aligns with the growing consumer preference for healthier and more natural food options.
- Regional Production and Consumption:
- Europe, particularly countries like the Netherlands and Germany, has traditionally been a significant producer and consumer of potato starch.
- Asia-Pacific, with its large potato production base, is also an emerging market for potato starch.
Market Challenges:
- Seasonal Nature of Potato Harvest:
- Potato starch production is influenced by the seasonal nature of potato harvests, leading to potential supply fluctuations and pricing uncertainties.
- Competition from Other Starch Sources:
- Potato starch faces competition from other starch sources like corn and tapioca starch, which may impact its market share.
Market Trends:
- Innovation and Product Development:
- Continuous innovation in processing technologies and product development to enhance the functional properties of potato starch.
- Sustainable Practices:
- Growing emphasis on sustainable and environmentally friendly production practices in response to consumer demands for eco-friendly products.
- Expanding Applications:
- Exploration of new applications in various industries, such as the pharmaceutical sector, as a binding agent in tablet formulations.
You Can Customize this Report As per Your Requirement Click Here@ https://www.persistencemarketresearch.com/request-customization/28528
Key Takeaways from Market Study
- Based on product type, major market share is held by native type potato starch, valued at US$ 4.53 Bn in 2022.
- Modified potato starch is anticipated to register growth at a CAGR of 4.7% to reach US$ 9.12 Bn by 2032-end.
- Under the nature segment, 90% market share is held by conventional potato starch. However, demand for organic potato starch is expected to register growth at 5.1% CAGR.
- When it comes to the end-use segments, majority of potato starch is consumed in the food & beverage industry, followed by industrial, pharmaceuticals, cosmetics & personal care, and animal nutrition.
- The food & beverages market for potato starch is valued at US$ 5.57 Bn, which is further anticipated to register growth at 5% CAGR. Under food & beverages, majority of the consumption is seen in dairy alternatives, savory & snacks, and meat & seafood.
“Key manufacturers are offering their products under various labels to account for rising consumer demand for quality labelled products. However, customized formulations of potato starch, according to customer needs, may result in increased market growth,” says a Persistence Market Research analyst.
Competitive Landscape
Potato starch manufacturers are emphasising on mergers and acquisitions so as take down the market competition and increase their share in the global demand for potato starch. Vendors are also expanding their production capabilities by opening new manufacturing facilities at places where raw material availability is high.
- In 2018, Royal Ingredients Group was acquired by BayWa AG through its Dutch division BayWa Agri Supply & Trade BV (BAST) to expand its range of specialty cereals and services. This acquisition opened up a wide range of opportunities for Royal Ingredients Group for further expansion.
- In Dec 2021 Roquette Freres S.A. opened a new plant in Pantnagar, India. This helped the company address the growing demand for its products from the food and nutrition market in the Asia Pacific region. This new facility is a part of the companys global network of manufacturing operations. It adheres to stringent process safety standards.
Explore More Valuable Insights
Persistence Market Research, in its new report, offers an impartial analysis of the global potato starch market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
The study offers compelling insights based on product type (modified and native), nature (organic and conventional), and end use (food & beverages (dairy alternatives, bakery, confectionery, soups & sauces, snacks & savoury, meat & seafood, infant formula, and others), industrial, pharmaceuticals, cosmetics & personal care and, animal nutrition), across six major regions of the world.
Category-wise Insights:
Why is Native Potato Starch Highly Sought-after?
Native product type of potato starch accounts for a majority share in the global market with more than 50% in 2022. Segment value is estimated at 3.9 Mn (MT) in 2022, and is expected to register growth at a CAGR of 4.5% over the forecast period.
Which End Use Segment Accounts for Major Potato Starch Demand?
The food & beverages segment holds a majority market share due to numerous sub-segment applications of potato starch. This is because the demand matrix for ingredients and additives is evolving and need for such versatile ingredients is observing a dominance.
Demand for potato starch from the food & beverage sector is anticipated to register growth at 5% CAGR over the forecast period.
Market Segmentation:
Potato Starch Market by Product Type:
- Modified Potato Starch
- Native Potato Starch
Potato Starch Market by Nature:
- Organic Potato Starch
- Conventional Potato Starch
Potato Starch Market by End Use:
- Food and Beverages
- Dairy Alternatives
- Bakery
- Confectionery
- Soups & Sauces
- Snacks & Savory
- Meat & Seafood
- Infant Formulae
- Others
- Industrial
- Paper
- Textiles
- Chemicals
- Pharmaceuticals
- Cosmetics & Personal Care
- Animal Nutrition
Potato Starch Market by Region:
- North America Potato Starch Market
- Latin America Potato Starch Market
- Europe Potato Starch Market
- East Asia Potato Starch Market
- South Asia and Pacific Potato Starch Market
- Middle East and Africa Potato Starch Market
About Us:
Persistence Market Research is a U.S. based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients’ business needs.
Contact us:
Persistence Market Research
Address – 305 Broadway, 7th Floor, New York City,
NY 10007, United States
Sales – [email protected]
Website – https://www.persistencemarketresearch.com
COMTEX_443636385/2840/2023-11-17T17:32:59
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No News Postbox journalist was involved in the writing and production of this article.
