The Potato Starch Market is Projected to Reach USD5.60bn by 2029
Based on value, the potato starch market is projected to reach USD5.60bn by 2029, at a CAGR of 3.9% from 2022 to 2029.
In terms of volume, this market is projected to reach 5,623m tons by 2029, at a CAGR of 3.6% from 2022 to 2029, according to a recent report from Meticulous Research.
“The growth of the potato starch market is mainly attributed to an increased demand for processed and convenience food, the increasing demand for potato starch in the paper industry, the increasing demand for natural food ingredients, the rising incidence of celiac disease and other food allergies, and the increasing demand for functional food products. However, the alternative starches available in the market are expected to hinder the growth of this market to a notable extent,” the report reveals.
The potato starch market is divided into organic and conventional products based on the natural world. The sector that will see the highest CAGR throughout the forecast period of 2022-2029 is the organic segment. This market's rapid expansion is mostly driven by the rising popularity of natural and sustainable foods as well as increased consumer awareness of clean-label goods. The perception that organic foods are safer and healthier because they don't contain chemicals or pesticides also contributes to this market's expansion.
Based on type, the potato starch market is segmented into modified potato starch and native potato starch. The modified potato starch market category is anticipated to hold the biggest market share in 2022. The expanding use of modified potato starch in food and drinks, pharmaceuticals, and the paper sector as a result of its improved functional qualities is a significant contributor to this segment's huge market share.
The potato starch market is divided into thickeners, binders, stabilizers, disintegrants, and other functions based on function. The potato starch market is anticipated to be dominated by the thickening segment in 2022. This segment's substantial market share is mostly due to the robust demand it receives from the food and beverage sector. To satisfy consumer demands and maintain consistent texture under varied circumstances, it primarily offers thickness and texture in food goods.
The potato starch market is divided into the following application categories: paper industry, pharmaceutical & chemical, animal feed, and other applications. Food & beverage (including bread & confectionery items, dairy products, soups, sauces, savory, and prepared foods, meat & seafood, and other food products) is one of these segments. During the forecast period of 2022-2029, the food and beverage segment is anticipated to have the greatest CAGR.
“The fast growth of this segment is mainly attributed to the increasing consumer awareness regarding the consumption of food products with natural ingredients, the wide range of potato starch applications in the food and beverage industry, the growing consumer preference for clean label and healthy products, and the rising demand for ready-to-eat and ready-to-cook food products,” the experts concluded.
