Market Overview: The global starch polymers market achieved a size of USD 4.5 Billion in 2022 and is projected to reach USD 7.47 Billion by 2032, with a rapid revenue Compound Annual Growth Rate (CAGR) of 5.8% throughout the forecast period.
Factors Driving Market Growth: The escalating demand for environmentally friendly packaging materials and the widespread adoption of biodegradable plastics are significant contributors to the market’s revenue surge. Starch polymers find increased application across various sectors such as textiles, food and beverages (F&B), and pharmaceuticals, further fueling the demand.
Additionally, the market experiences growth impetus from the rising need for sustainable and eco-friendly packaging materials, where starch polymers stand out due to their biodegradable nature, easily degradable by biological processes.
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Key End-Use Sectors: The food and beverage (F&B) sector stands as the largest end user of starch polymers. The market is expected to witness increased revenue growth driven by the growing demand for convenience foods and ready-to-eat meals, with starch polymers serving as emulsifiers, stabilizers, and thickeners in food items.
Furthermore, the pharmaceutical industry contributes to market expansion as starch polymers are employed in the creation of tablets, capsules, and various drug delivery methods, enhancing their revenue growth during the forecast period.
Market Constraints: Despite the positive growth outlook, the market faces constraints due to the availability of substitute packaging materials such as paper and cardboard, which gain popularity for their affordability and recyclability. The accessibility of inexpensive synthetic polymers also poses a potential hindrance to market revenue growth.
Government Regulations: Various government regulations impact the starch polymers market. For instance, the European Commission has adopted regulations limiting the use of certain hazardous substances in plastic packaging, including those derived from starch polymers. The U.S. Food and Drug Administration (FDA) mandates compliance with safety standards for food contact materials, including starch polymers.
Key Takeaways:
- In 2022, the modified starch segment dominated the global starch polymers market in terms of revenue.
- Native starch, modified starch, and other categories constitute the product segments. The modified starch segment’s growth is fueled by increased demand across industries, including food and beverage, pharmaceuticals, and paper.
- The native starch category is anticipated to post consistent revenue growth, driven by the rising demand for natural and environmentally friendly ingredients.
- Application segments include packaging, papermaking, textile, pharmaceutical, food and beverages (F&B), and others.
Regional Outlook:
- The Asia Pacific region led the global starch polymers market in 2022, driven by growing demand for sustainable packaging solutions in emerging economies like China, India, and South Korea.
- North America is expected to witness the highest revenue CAGR during the forecast period, propelled by the increasing demand for eco-friendly packaging materials in the food and beverage industry.
- Europe is anticipated to experience moderate growth, with stringent regulations on plastic-based packaging materials driving the demand for starch polymers.
Competitive Landscape: Key players in the starch polymers market include ADM, Cargill, Ingredion Incorporated, BASF SE, Roquette Frères, NatureWorks LLC, Tate & Lyle PLC, AGRANA Beteiligungs-AG, DuPont de Nemours, Inc., and AVEBE U.A.
Strategic Developments:
- ADM expanded starch production capacity in 2021 to meet growing demand in Europe and the Middle East.
- Cargill, Inc. acquired Leman Decoration Group in 2020, expanding its portfolio of specialty ingredients.
- Ingredion Incorporated launched a new portfolio of plant-based texturizers in 2020.
- BASF SE expanded its biopolymer production capacity in 2020 to meet the demand for sustainable packaging.
- Roquette Frères launched a new range of plant-based proteins and fibers in 2020 for the food and beverage industry.
Product Launches: Several key players launched new products to cater to evolving market demands, such as ADM’s plant-based coatings and fillings, Cargill, Inc.’s starches and sweeteners for the dairy industry, Ingredion Incorporated’s plant-based proteins and fibers for the meat alternative industry, BASF SE’s biodegradable plastics for the packaging industry, and Roquette Frères’ plant-based sweeteners for the food and beverage industry.
Market Segmentation: The report provides a comprehensive segmentation based on product type, application, and region, offering historical data, revenue forecasts, company rankings, competitive landscape analysis, growth factors, and trends.
Customization Scope: The report offers 10 hours of free customization and expert consultation to meet specific client requirements.
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