The
competitive landscape of the global starch derivatives market
demonstrates a highly fragmented structure. In 2014, the top three
participants, namely, Archer Daniels Midland Co., Ingredion Inc.,
AGRANA Group, and Tate & Lyle Plc, jointly held a share of only
22.3% in the overall market.
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Currently,
the leading producers of starch derivatives are focusing on improving
the quality of their offering in order to strengthen their market
presence. However, over the coming years, these companies are likely
to enter into strategic agreements with regional players in order to
expand their reach. BENEO-Palatinit GmbH, Cargill Inc., Roquette
Frères S.A., Emsland-Stärke Gmbh, Avebe U.A., and Grain Processing
Corp. are some of the other prominent starch derivatives producers
across the world.
Soaring
Demand for Convenience Food and Beverages Boosts Opportunity in
Starch Derivatives
The
hyperactive lifestyle of people all over the world has left them with
little time for proper meals, resulting in the soaring demand for
convenience food and beverages. While the demand for starch
derivatives is already high in developed nations such as the U.S.,
the U.K., and Germany, the rapid urbanization is expected to fuel
their demand in emerging economies, such as China, India, and Brazil.
The rising demand for these derivatives in natural sweeteners and
their growing industrial application is also propelling the
opportunities in them significantly.
On
the flip side, the high volatility in prices of raw materials
utilized to produce starch
derivatives is a major hindrance to the growth of this
market. The shortage of these raw materials, owing to their
increasing utilization in other industrial processes, the dearth of
customized starch derivative products, and the availability of
alternatives, such as gum, may also limit the application of these
derivatives during the forecast period, states TMR.
Supported
by Demand for Starch Derivatives in China and India, Asia Pacific Set
to Retain Leadership
In
spite of these hindrances, the opportunity in starch derivatives,
worldwide, is likely to report a healthy rise from US$45.3 bn in 2014
to US$68.7 bn by 2021, expanding at a CAGR of 5.90% during the period
from 2015 to 2021.
Asia
Pacific is estimated to remain the leading regional market for starch
derivatives throughout the forecast period. The APAC starch
derivatives market is expected to grow from nearly US$14 bn in 2014
to US$20.6 bn by the end of 2023. The soaring demand for starch
derivatives in China and India is the key factor behind the strong
position of Asia Pacific in the global market for starch derivatives.
Analysts at TMR estimate this trend to remain the same over the
forecast period.
These
derivatives will continue to find most application avenues in the
food and beverages sector and glucose syrup will retain its position
as the segment witnessing the highest demand during the forecast
period.
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