Potato Starch Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI2740
Potato Starch Market size is likely to witness steady gains in the foreseeable time frame. Rising demand for various food products including ready to mix and ready to eat products, such as baked good, curry and dessert mixes may drive industry growth. Moreover, it is used in textile industry to stiffen fabrics, in pharmaceuticals to produce antibiotics and in paper industry for its adhesive properties, thus stimulating product demand.
Potato is considered to be popular feedstock for production of starch owing to its soft, tasteless and odorless properties. It offers various health benefits including absorption of toxic and carcinogenic compounds, regulates blood sugar levels and absorption of several minerals like calcium and magnesium, resulting into increased product demand.
Starch is obtained from corn and raw materials inclusive of cassava, barley, wheat and rice. Cassava is considered to be the important food crop which acts as a substitute for cereals and pulses as it is low in fat and protein content. Increased application usage in pharmaceuticals, textiles, adhesive, paper, food and beverage industries, thus stimulating industry growth.
Global textile market was valued at over USD 835 billion in 2017 and may surpass USD 1,235 billion by 2024. Rapid increase in population, changing lifestyle coupled with disposable income are key factors contributing towards the growth of textile industry. Starch is primarily used in textile sizing for cotton yarns, which are preferred for sizing medium and coarse yarns, thereby stimulating potato starch market demand.
Global dietary supplement market may surpass USD 275 billion by 2024 and growth in dietic supplement consumption to meet health standard measures, should enhance potato starch market demand. Dietary supplements are often gluten free, which are consumed by health-conscious consumers to mitigate various diseases and is likely to drive the market demand.
Global paper manufacturing market was valued USD 485 billion in 2017 and is expected to surpass USD 525 billion by 2024. Paper consists 8% of starch content, which acts as binder for coating formulation, improves smoothness, gloss, hardness and whiteness, which in turn is likely to foster the potato starch market.
Global pharmaceutical market demand is poised to surpass USD 365 billion by 2024. Native potato starch is widely used in pharmaceutical operations, such as tableting, capsule filling and granulation. The product is utilized as filler or diluent which offers essential application on final product properties including tablet strength, disintegration and drug dissolution which may fuel potato starch market demand.
Major challenges for the potato starch market is price fluctuations of agricultural products owing to irregularities in climate which affect the yield due to uneven rainfall patterns. Reduction in rainfall also affect cultivation resulting in variation in input and output prices. Fluctuations in the cost of chemicals and fertilizers act as restrains to the market growth.
Europe potato starch market demand, driven by Germany, UK, France and Italy is likely to witness a significant growth over the projected timeframe. Favorable government legislation with increasing pharmaceutical companies with growing health concerns should drive the regional industry growth.
North America led by, the U.S., Canada and Mexico potato starch market demand should accelerate with significant gains by 2024. Rising demand for convenience food products and various functionalities of the product in food owing to its thickening property, good texture and taste and in non-food products for binding and texturing is likely to propel the potato starch market demand.
Asia Pacific potato starch market demand led by, China and India is likely to witness significant gains up to 2024. The product is used in sizing, weaving, brightning and in textile coating in textile industry. Increasing textile industry along with changing lifestyle trends is likely to enhance regional product demand. The product is more economical when compared to other substitutes, thereby stimulating the market demand.
Global potato starch market share is fragmented with presence of international and domestic manufacturers. Key operators include Emsland Group, KMC, Roquette, Cargill, PEPEES Group, Novidon, AGRANA, Tereos, Vimal PPCE and Lyckeby. Companies are investing heavily in R&D activities to produce economical products thereby providing new opportunities for growth of potato starch market size.
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