Potato Starch Global Market Report 2024

Potato starch is a natural starch obtained by crushing potatoes, releasing free starch in the form of a milky liquid. Starch grains are present in the cells of the potato plant's root tubers. The process involves crushing the potatoes to extract the starch, liberating the starch grains from the disrupted cells. The starch is then washed and dried to form a powder. Potato starch granules are typically large, oval, and spherical, ranging in size from 5 to 100 µm. It is a highly refined starch with minimal protein or fat content, resulting in a clear white powder. Cooked potato starch exhibits properties such as a neutral flavor, good clarity, high binding strength, extended texture, and a low tendency to foam or yellow the solution. These characteristics find applications in various industries, including food and technical sectors such as the paper and chemical industry.

The main types of potato starch include native starch, modified starch, and sweeteners. Native starches are plant-based substances derived from different agricultural raw materials, presenting as a white or off-white powder with a mild odor and flavor. With an energy value of 4 kcal/g (similar to other carbohydrates), potato starch, available in organic and conventional forms, is distributed through various channels, including indirect, direct, and other distribution channels. It finds utility across diverse industries such as the food industry, paper industry, chemical industry, and textile industry.

The potato starch market research report is one of a series of new reports that provides potato starch market statistics, including potato starch industry global market size, regional shares, competitors with a potato starch market share, detailed potato starch market segments, market trends and opportunities, and any further data you may need to thrive in the potato starch industry. This potato starch market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The potato starch market size has grown strongly in recent years. It will grow from $6.29 billion in 2023 to $6.64 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to the increased demand for processed food items, a growing market for gluten-free food products, expanded production and export opportunities, the diversification of potato starch utility across various industries, and the emergence of modified potato starch to enhance its quality for better performance in various industrial applications.

The potato starch market size is expected to see strong growth in the next few years. It will grow to $8.26 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to the growing demand for completely plant-based food products, the rising adoption of veganism globally, increasing awareness about the health benefits of plant-based products, growing industrial applications, a rise in gluten-free and allergen-free diets, and increasing global food trade and globalization. Major trends in the forecast period include innovative non-food applications, biodegradable packaging, modified starch varieties, clean label and natural ingredients, and clean label formulations.

The potato starch market is anticipated to experience growth, primarily driven by the rising demand for ready-to-eat food products. Ready-to-eat foods, known for their shelf stability and convenience, are becoming increasingly popular, especially as consumers exhibit a willingness to spend on such convenient meal options. The fast-paced urban lifestyle, coupled with a lack of time for home cooking, is a key factor fueling the demand for ready-to-eat meals. Potato starch plays a crucial role in various food products, including canned soups, providing thickening power and enhancing fill viscosity. It is also utilized as a base for gelling agents in confections, thickeners in pastry and pie fillings, and instant puddings. According to Bizom, a retail intelligence platform, sales of ready-to-eat goods saw a significant increase of 9.1% in August 2021 compared to July, highlighting the growing consumption of such foods. This trend is expected to drive the potato starch market's growth in the forecast period.

The growth of the potato starch market is further expected to be propelled by the increasing demand for retail distribution. Retail distribution involves making potato starch products, like potato starch flour, available to consumers through various retail channels, including traditional brick-and-mortar supermarkets and grocery stores. The convenience of purchasing potato starch products from these outlets contributes to their accessibility for consumers engaged in cooking and baking activities. According to the UK-based Office for National Statistics, retail sales volumes were projected to increase by 0.7% in June 2023. This rise in demand for retail distribution is a key factor driving the growth of the potato starch market.

An emerging trend in the potato starch market is the introduction of innovative products. Companies operating in this market are actively investing in research and development to bring new and improved products to market, catering to evolving consumer preferences. For example, in 2021, Ingredion Inc., a US-based ingredient provider, introduced ULTRA-TEX 1311 modified potato starch, specifically designed for daily desserts. This product reflects the company's commitment to expanding the capabilities of potato starch, offering food manufacturers opportunities for energy savings and streamlined processing.

Major players in the potato starch market are focusing on product innovation to enhance profitability. A notable example is Ingredion Incorporated's introduction of ULTRA-TEX 1311 Modified Potato Starch in March 2021. This waxy, quick starch provides food producers with versatility for creating high-end products while achieving cost savings. The starch, with its clean taste, rich mouthfeel, and smooth texture, can be used in a variety of formulations, enhancing stability, generating desirable textures, and substituting oil without compromising sensory appeal. It is particularly suitable for plant-based, low-fat, reduced-fat, healthier, and ketogenic applications, demonstrating excellent water-holding capacity, shelf-life stability, process tolerance, and viscosity.

In August 2021, Angel Yeast Co., Ltd., a China-based yeast biotech product business, acquired Shandong Bio Sunkeen Co., Ltd for $15.4 million. Through this acquisition, Angel Yeast gains access to Bio Sunkeen's facilities, aligning with future growth plans. Shandong Bio Sunkeen Co., Ltd is a China-based producer of potato starch.

Major companies operating in the potato starch market include Cargill Incorporated, Pepees SA, Emsland Group, Sudstarke GmbH, Novidon Ltd., Ingredion Inc., AGRANA Beteiligungs-AG, Cooperative AVEBE UA, AKV Langholt AmbA, Tereos Starch & Sweeteners SAS, Roquette Freres SA, Finnamyl Ltd., Manitoba Starch Inc., Tate & Lyle PLC, Aloja Starkelsen SIA, KMC Ingredients, Lyckeby Starch AB, Vimal Group, Universal Starch Chem Allied Ltd., Qingdao CBH Co. Ltd., Gujarat Ambuja Exports Ltd., ShreeGluco Biotech Private Ltd., Shubham Starch Chem Pvt. Ltd., Matsutani Chemical Industry Co. Ltd., Sanstar Bio-Polymers Ltd., Jay Sardar Starch & Gum Consultant, Tirupati Starch & Chemicals Ltd., Ambuja Exports Ltd., Daymer Ingredients Limited, The Wah Starch Public Company Limited

Western Europe was the largest region in the potato starch market in 2023. The regions covered in the potato starch market share report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The countries covered in the potato starch market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

The potato starch market consists of sales of soups and gravies, pie fillings substances, sauces, stews and casseroles. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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