Global starch derivatives market is expected to reach USD 74.30 billion by 2022. Growing demand for sweeteners in various food items such as bakery & confectionary, carbonated & energy drinks is expected to propel growth over the next seven years. Furthermore, growing pharmaceutical sector in countries such as Saudi Arabia, Brazil, India, China and the U.S. is expected to further increase demand for starch derivatives. Stringent regulations encouraging the use of natural ingredients across various sectors including pharmaceutical, textile, fermentation and cosmetics is likely to propel industry growth. However, fluctuating prices of raw materialscoupled with high R&D cost is expected to be a major restraint affecting growth over the forecast period.
Glucose syrup dominated the global market in the year 2014 and is likely to generate high revenue gains over the seven years, accounting for over USD 44.0 billion by 2022. Increasing consumption of processed meats, ice creams, convenience food, instant dessertsand bakery products are expected to augment demand for the product over the next seven years.
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Further key findings from the study suggest:
·
Food &beverages segment accounted for the
largest application share in 2014 and is expected to witness significant gains
at a CAGR of over 6.0%.Rise in product innovation by manufacturers coupled with
rising consumer preferences for high quality products is likely to propel
growth.
·
Rising consumer demand for food and beverages,
pharmaceutical and personal care products in Latin America and Middle East
& Africais expected to propel demand for the product over the next seven
years. Moreover, improving economic conditions in the region owing to rapid
industrial growth is expected to be the keydrivers. In addition, increasing
urbanization and changing consumer lifestyle is expected to increase demand for
packaged foods which in turn is anticipated to propel demand for starch
derivative industry over the projected period.
·
As of 2014, Asia Pacific dominated the global
market in terms of revenue as well as volume and is expected to witness highest
CAGR, growing at over 6.0% from 2015 to 2022. Rapid economic growth led by
China and India coupled with capacity expansions in food & beverage
industry in the region is likely to have a positive impact on
growth.Furthermore, increasing demand for bakery and confectionary products in
India, China, Vietnam, Malaysia, and Australia is likely to fuel growth in the
region.
·
Key players in the starch derivatives market
include Ingredion Incorporated, Tate & Lyle PLC, Global Bio-chem Technology
Group Company Limited, Cargill Inc. and RoquetteFrères. Growing emphasis on
developing new and innovative products by manufacturers in order to cater to
needs ofvarious industries is likely to promote growth. Cargill Inc. and
Roquette have invested heavily in Asia Pacific for capacity expansion of
existing plants and to increase the number of manufacturing facilities.
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Grand View Research has segmented the global starch Derivatives market on the basis of product, application and region:
Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2022)
·
Maltodextrin
·
Glucose Syrup
·
Cyclodextrin
·
Hydrolysates
·
Modified Starch
·
Others
Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 -
2022)
·
Food & Beverages
·
Cosmetics
·
Paper
·
Pharmaceuticals
·
Feed
·
Others
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 -
2022)
·
North America
·
U.S.
·
Europe
·
Germany
·
Asia Pacific
·
China
·
India
·
Latin America
·
Brazil
·
MEA
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