The global modified starch market is expected to grow at a CAGR of over 4.5% from 2013 to 2018. Modified starches are derived from natural sources such as corn, potato, tapioca, and wheat. These starches have a modified chemical composition that enhances their functional properties such as viscosity, texture, and stability.
The market is segmented based on the raw material used for modification, which includes corn, tapioca, potato, wheat, and others. Corn accounts for the largest market share in terms of volume and revenue due to its availability, low cost, and diverse applications in the food and non-food industries. Tapioca and potato starches are also gaining popularity due to the increasing demand for gluten-free products in the food industry.
The food industry is the largest end-user of modified starches due to their ability to enhance the texture, appearance, and stability of food products. Modified starches are widely used in the production of baked goods, confectionery, dairy products, soups, sauces, and dressings. In addition, the demand for modified starches in the feed industry is also increasing due to their nutritional benefits and ease of processing.
The non-food industry is also a significant end-user of modified starches, with applications in the paper, textile, pharmaceutical, and cosmetic industries. Modified starches are used as binders, thickeners, and coatings in these industries.
North America and Europe are the largest markets for modified starches due to the well-established food and non-food industries. However, the Asia-Pacific region is expected to witness significant growth during the forecast period due to the increasing demand for convenience food products and the rising population.
Shandong Fuyang Biotechnology Co., Ltd. is a major player in the modified starch market, with a focus on corn deep processing and bio-fermentation. The company offers a wide range of modified starches for various applications in the food and non-food industries. In addition, Shandong Fuyang Biotechnology Co., Ltd. has invested in research and development to enhance the functional properties of its modified starches, thereby increasing their demand in the market.
Overall, the growth of the modified starch market is driven by the increasing demand for processed food products and the need for functional ingredients in the food and non-food industries. The market is expected to witness further growth due to the increasing popularity of modified starches as a natural alternative to synthetic additives and the availability of raw materials for modification. As such, the modified starch market presents lucrative opportunities for businesses looking to expand their product portfolio and cater to the evolving needs of consumers.