MarketOverview:
The global potatostarch market size was USD 500.07 million in2019 and is projected to reach USD 1142.78 million by 2032, exhibiting a CAGR
of 6.62% during the forecast period based on our analysis in the existing
report. North America dominated the Potato Starch Market with a market share of
35.74% in 2019.
The rise in the potato starch market ismainly due to the need for sweeteners in baking and confectionery, as well as
the popularity of new food items such as cakes and chocolates. Additionally,
the spread of Western culture and the economic progress of developing nations
are also contributing to the market's expansion. A report by Fortune Business
Insights, titled “Potato Starch MarketSize, Share & Industry Analysis, By Nature (Organic and Conventional),
End-use (Textile & Paper, Food & Beverages, and Pharmaceuticals), Type
(Native and Modified), and Regional Forecast, 2020-2032,” states that themarket size was USD 473.06 million in 2018. The report provides detailed
insights into current trends in the potato starch market, covering all segments
and regions. It includes recent market developments and is based on extensive
research and analysis, making it valuable for companies, stakeholders,
financiers, and potential investors. The report aims to give a clear picture of
the market size and includes information on product launches, acquisitions,
collaborations, partnerships, innovations, and industry developments.
Some ofthe Major Companies Operating in the Potato Starch Market are:
- Emsland Group
- Cargill, Incorporated
- PEPEES Group
- Roquette
- Ingredion Incorporated
- KMC
- Novidon
- AGRANA
- Tereos
- Vimal PPCE
PotatoStarch Market Growth:
- Increasing Demand in Food Industry: Potato starch is widely used as a thickening agent. Its demand in the food sector is rising due to the popularity of
convenience foods.
- Applications in Non-Food Industries: Beyond food, potato starch is also used in textiles and paper production. This diversification boosts the market's
overall growth potential.
- Health Trends Favoring Natural Ingredients: Consumers are increasingly seeking natural and gluten-free products. Potato starch fits these trends, attracting
health-conscious buyers.
GrowingInclination Towards Sugar-free Diet and Healthy Food Products to Bolster Market
Growth
The needfor sugar-free products and ways of living is increasing, which is expected to
boost the market. South East Asia has a lot of diabetes cases, making more
people look for sugar-free choices to stay healthy, which is great for sales.
Companies are also adding more potato starch to these products, which means
potato starch sales will go up. Changes in how people eat and new sweeteners
being introduced in the food industry will also help the market grow fast.
Expansionof Paper & Textile Industry will Consequently Favor Healthy Growth:
Theexpanding paper and textile industries, driven by population growth, present
numerous business opportunities. Additionally, the application of potato starch
in food and beverages, particularly for thickening and stabilizing, is boosting
the market. Potato starch is found in ready-to-eat items such as processed
meats, cheeses, canned soups, and pasta, contributing to the demand for
convenient food products. Moreover, the demand for potato starch in creating
environmentally friendly products like biomaterials and biodegradable packaging
is aiding in the market's expansion. These factors are all contributing to the
growth of the market.
PotatoStarch Market Future Outlook:
- Growing Demand in Food Industry: The food sector increasingly uses potato starch as a thickener and stabilizer. This trend is expected to rise,
driven by consumer preference for natural ingredients.
- Expansion in Non-Food Applications: Beyond food, potato starch finds use in paper, textiles, and biodegradable
plastics. This diversification opens new markets and growth opportunities.
- Health and Wellness Trends: With rising health consciousness, potato starch is gaining traction as a
gluten-free alternative. This trend may boost its popularity among
health-focused consumers.
- Sustainability Considerations: Potato farming is generally more sustainable compared to other crops. This
eco-friendly aspect can enhance the appeal of potato starch in a market
leaning towards sustainable practices.
IncreasingDemand from Food & Beverage Industry will Facilitate Growth in Asia Pacific:
Europemade $92.14 million and is likely to grow fast soon. The food and drink
sector's need for potato starch will push this growth. More people eating ready-made
food will also help the market grow. Asia Pacific is expected to be the second
biggest market, mainly because its textile and paper sectors are doing well.
PotatoStarch Market Challenges:
The potato starch market is confronted with several challenges. One ofthe primary issues is price volatility, which stems from fluctuating
agricultural conditions and potential supply chain disruptions. Additionally,
the market faces strong competition from alternatives like corn starch and
tapioca starch, which are often preferred by manufacturers. Shifting consumer
preferences also play a role, as health-conscious individuals increasingly seek
gluten-free or organic options, which can negatively impact the demand for
potato starch.
KEYINDUSTRY DEVELOPMENTS:
- January, 2019 – Ingredion Inc. acquired the U.S.-based Western Polymer Corporation. The company produces modified
and native potato starches. This acquisition helps the company deliver raw
materials for industrial purposes.
