South America Starch Derivatives market is projected to grow at a CAGR of 3.41% during the forecast period.
Key Highlights
- The growth in functional food products, clean label demand, and achieving cost reduction in the production process are the major factors driving the applications of starch derivatives such as modified starch.
- The paradigm shift of consumers towards low-calorie food products is another factor that has resulted in number of food and beverage processing companies to incorporate modified starch to meet the propelling demand of functional/low-calorie food products. Such factors enabled ingredient manufacturers to develop products that can support food companies to cater to the growing demand.
Key Market Trends
Corn Remains a Prominent Segment
Starch made from corn contains only carbohydrates, which is termed as a gluten-free product. Owing to this reason, corn starch is an excellent gluten-free alternative to other starches. Moreover, starch derived from corn is known for its thickening properties. Furthermore, the paper industry utilizes corn starch as filler and sizing material. It also finds application in textile, laundry, foundry, air flotation, and adhesives. While much of the starch is employed in its natural form, it is also easily converted to other forms. In addition, most corn starch is made into starch syrups and the balance is made up of native and modified starches.
Brazil Leads the Regional Market
Brazil has witnessed a significant growth owing to a rise in demand for starch derivatives for convenience foods & beverages. In addition, the functional properties possessed by starch derivatives have also been instrumental in promoting their use in the pharmaceutical, cosmetic, and bioethanol industries in the country. Furthermore, the country is one of the major cassava processors in the region and has the presence of approximately 72 starch manufacturers as of 2017 and can process 21.5 thousand tons of roots per day. In addition, the country’s growing consumer market is suitable for more value-added food products, especially infant food, ice cream, and sports drinks driving the demand for starches.
Competitive Landscape
South America starch derivatives market is fragmented with numerous players existing in the market. Companies like Cargill Inc. and Archer Daniels Midland Company, being the key players, have been expanding their reach through merger, expansion, and acquisition, in order to strengthen their positions in the regional market.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
This product will be delivered within 2 business days.
Table of Contents
Methodology
LOADING...
