Modified starch market worth $10,337.8 million by 2018
According to a new report titled “Modified Starch Market by Raw Material (Corn, Tapioca, Potato, Wheat, and Others), by Application (Food, Feed, and Non-Food)—Global Trends & Forecasts to 2018,” published by MarketsandMarkets, the Modified Starch Market is expected to grow at a rate of 4.1% from 2013 to 2018.
The modified starch market is an emerging sector with various stakeholders, such as raw material suppliers, processers and product manufacturers. The report details various sub-segments of food, feed and nonfood, such as paper, cosmetics, medicines, etc. Food, in itself, is the driving sector for modified starch as increasing demand for convenience food forms a major driver for the market.
The report indicates that the modified starch market is projected to reach $10,337.8 million by 2018.
Corn is the most preferred source for modified starch, and tapioca is expected to rise as a major competitor for corn, says the report. The major raw materials for modified starch include corn, tapioca, potato and wheat. These are naturally-occurring raw materials. However, modified starch manufacturers buy it from various raw material providers, farmers, etc., who cultivate these products. The usage of these sources in obtaining starch depends on the prices at which they are available to the modified starch manufacturers and the efficient characteristic that they hold for the usage in that particular industry. For instance, a gluten-free product manufacturer will opt for tapioca or corn for obtaining starch and not for wheat, because if the starch is obtained by wheat it will definitely contain gluten.
North America acquires the largest market share of modified starch, while Asia-Pacific is estimated to achieve the highest growth rate. The market for modified starch in Asia-Pacific holds power to grow in future because of the developing food industry, with tapioca as a raw material contributing to its growth. More information is available at www.marketsandmarkets.com/Market-Reports/modified-starch-market-511.html.