Potato Starch Market: Snapshot
Potato starch has applications in numerous ready-to-eat products and ready-to-mix food products including curry, baked goods, and dessert mix. Additionally, it has several applications across convenience food products globally and especially across the developing countries. These factors are expected to fuel growth of the global potato starch market in coming years.
The booming textile industry globally and especially across emerging regions including India and China is resulting to the higher consumption of potato starch. Additionally, potato starch has applications across the textile sizing in cotton clothes. Growing demand for potato starch for textile sizing is positively impacting on the potato starch market’s growth.
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Further, starch is an adhesive material and has applications during the size mix process owing to various factors such as Starch properties can be tuned as per requirement. Cost-effective when compared to other substitutes, potato starch is observed to be gaining significant traction on a global level.
Some of the key factors restraining growth of the global potato starch market are the price volatility of raw material and potatoes due to climatic changes. Additionally, continuously changing climate and seasonal variations are lowering quality of crops due to critical and uneven rainfall patterns. These fluctuations are leading to volatility in the costs of crops and hampering growth of the global potato starch market.
Nonetheless, major food manufacturers are focusing on the using cost-effective acid-modified potato starch as an alternative to use of gelling agent and this is replacing the other materials such as regular starch and gelatin. Additionally, potato starch provides ubiquitous texture, which is more appealing to the product. This is a key factor having potential of creating opportunities for the growth of the global potato starch market in the coming future.
The global potato starch market collected revenue of US$5,000 mn in 2017 and is expected to attain a value of US$7,178.4 mn by 2026-end. The market is swelling is expected to expand at a CAGR of 4.6% over the forecast period from 2017 to 2026.
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Widening End Use Applications to Propel Market Growth
Based on the type, the potato starch market is segmented into native and modified potato starch. In terms of nature, the potato starch market is segmented into conventional and organic. In terms on the end-use, the potato market is bifurcated into textile industry, food industry, paper industry, personal care, pharmaceuticals, and others. In terms of distribution channel, the market is bifurcated into indirect and direct. Of these, the indirect channel section is further bifurcated into online retailing and store-based retailing.
Europe to be Leading Region in Potato Starch Market
On the geographical front, the potato starch market is segmented into North America, Latin America, Europe, Asia Pacific, And the Middle East & Africa. Of these, Europe held the dominant share of the global potato starch market in 2018 in terms of volume and value. However, the market in North America is expected to gain substantial share by the end of 2026. This growth of the market is attributable to the consumer dependence and demand for potato starch as the demand for accessibility is growing across these regions.
Some of the key players operating in the global potato starch market include Emsland Group, SÜDSTÄRKE GMBH, Cargill, Inc., PEPEES Group, and Beteiligungs-AG. However, BENELUX is expected to expand with a most lucrative CAGR in terms of value over the forecast period.
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