The Modified Starch Market size was estimated at USD 14.1 billion in 2023 and is projected to reach USD 17.27 billion in 2030 at a CAGR of 2.94% during the forecast period 2023-2030.
Modified starches are plant-based additions or components that come from tubers like potatoes and cereals like corn and wheat. They are a member of the family of carbohydrates. Based on starch derived from grains and vegetables including wheat, maize, and potatoes, modified starches are made. Later on, this starch was enhanced to acquire certain qualities, such as the capacity to impart texture and structure to the meal to which it is added. Starches can acquire particular capabilities depending on the procedure, which is advantageous for example in some food preparation methods.
Due to its various benefits, modified starch is used in a variety of sectors, including food, papermaking, cosmetics, personal care, and textiles. Modified starch is a versatile ingredient used in the personal care and cosmetics industries. As the demand for natural cosmetics has increased over the past few years and is anticipated to continue to expand in the next years, manufacturers are creating new cosmetic products employing organic components such modified starch.
The growth of the Modified Starch market is mainly being driven by the increasing demand for natural ingredients in food. Modified starch is a natural ingredient that is widely used in food products as a thickener, binder, emulsifier, and stabilizer. The increasing demand for natural ingredients in food is expected to drive the growth of the modified starch market. Moreover, the rising demand for natural sweeteners in beverages and the growing use of modified starch in various end-use industries is expected to drive the growth of the market further during the forecast period.
On the other hand, due to the extra processing and modification procedures needed, modified starches are often more costly than native starches. Manufacturers may be constrained by the greater price, particularly those in price-sensitive industries or with slim profit margins.
The market was affected by COVID-19 in both good and bad ways. When the epidemic hit, people hurried to stockpile items with longer shelf life, which increased demand for processed and packaged foods and increased demand for modified starch. However, owing to lockdowns and restrictions everywhere, a large number of eateries and food service establishments were closed, and the food and beverage supply chain was affected. The market is likely to recover to its pre-COVID levels as the supply chain is progressively restored and restaurants and other food service facilities begin to reopen.
The Modified Starch Market is expected to grow during the forecast period. This growth can be attributed to various factors such as the increasing demand for natural ingredients in food, the rising demand for natural sweeteners in beverages and the growing use of modified starch in various end-use industries. However, modified starches are more expensive compared to native starches due to the extra processing and modification procedures needed. This can affect the growth of the market during the forecast period.
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