North America Starch Derivatives Market is projected to grow at a CAGR of 4.6% during the forecast period (2020-2025).
- North America leads in the starch and starch derivatives market, due to the wide availability of corn, which has a broad array of food, non-food, and feed applications. Increasing adoption and awareness of the functionalities of starch and its derivatives in food and non-food industries in the countries have led to rapid demand for the ingredients for varied applications primarily countries like United States, Canada, and Mexico.
- A multitude of promising developments and innovations in the starch market is also poised to propel the demand for starch from the food industry in the region. A significant increase in demand for the weight management ingredients or food and functionally varied ingredients.
Key Market Trends
Increased Utilization in Food and Beverage
Starch derivates have several applications in the food and beverage sector. Both modified and unmodified starches can act as gelling agents in confectionery applications. Several gelling starches (derived from maize and potato) are being used to partly replace/complement gelatin in gummy-type candies, in which a softer, less chewy/elastic consistency is wanted. Starches and starch-based offerings are also being used to texturize chewy-type candy. Resistant or indigestible starch is emerging as a functional ingredient in processed food products, due to its functionality that includes acting as a soluble fiber, which can be added to a number of foods to improve the texture and decrease the rate at which sugar enters the blood from digestion.
United States Dominates the Market
The major driver for the significant share of the United States starch derivatives market is the increasing consumer expectation for innovation and convenience.? Another major driver for the United States starch derivatives market is the low price of corn starch in the region. The United States also has abundant availability of raw material, thus helping the market to grow further.? The United States has influenced the global supply chain of corn for starch extraction and the resultant price trends. Innovation and developments of new products (such as n-octenyl succinic anhydride-modified starch) and diversified applications of such modified starch products are also a reason for growth.
Competitive Landscape
The North America starch derivatives market is highly competitive and revenue share is acquired by several local and international players which leads to a fragmented market. The presence of major players operating in the country, such as Cargill, Archer Daniels Midland Company, and Ingredion Incorporated, has strengthened the market through their product offerings. The major global players have vast product lines and geographical reach, which give them an upper hand. Continuous innovation to introduce new products, with functional benefits is the key competitive factor in the market, and key players have thus intensified their research and development efforts, in order to develop innovative products based on the requirements of the end-user industry.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support