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The global potato starch market size was USD 473.06 million in 2018 and is projected to reach USD 762.63 million by the end of 2026, exhibiting a CAGR of 6.2% during the forecast period.
Potato starch finds major applications in convenience foods including RTE food products or ready-to-eat, and ready-to-mix food products such as dessert mixes, curries, and baked products. Strong consumer demand for convenience food products is driving the market.
The major usage of potato starch is in the textile industry. Especially in countries such as China and India, the textile industry is booming which results in higher consumption of potato starch. It is primarily used in the cotton clothes for textile sizing. This factor is expected to impact the potato starch market growth positively.
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On the other hand, pharmaceuticals, packaging, and other industries also utilize a significant quantity of potato starch for the purpose of hardening, stiffening, and surfacing of the products. It is anticipated to increase the utility and consumption of potato-based starch from combined food and non-food industries across the world.
“Increased Demand from Rapid Growing Sweeteners from Food and Beverages Industry to Support the Market Growth
Rapid and promising demand dynamics primarily drive the global potato starch market for sweeteners in the manufacturing of various food products, such as bakery and confectionery products
Sweetener industry is one of the biggest users of potato starch throughout the globe. The consumers are increasingly shifting their eating choices towards new and evolving food products, such as cake, bread, chocolate, sweets, and others due to rising westernization and economic growth of developing countries. The rising focus of bakery and confectionery manufacturers to introduce new products into the market, as potato starch is required for processing sweeteners to offer textural and sensorial appeal. The flourishing sweeteners industry will enhance the use of potato starch in the upcoming years.
“Growing Focus of Consumers towards Sugar-Free Diet will Enable Healthy Growth of the Market”
The growing attention and focus on the sugar-free diet among the consumers are the other major factors driving the potato starch market across the globe. The manufacturers are utilizing the opportunity by availing different types of sugar-free food products by using potato starch in their processing. Asia Pacific is a developing region, which makes it one of the major consumer of potato starch. The developing countries such as India and China are performing decently in the global potato starch market by utilizing potato starch in several businesses.
According to the International Diabetes Federation, increasing prevalence of diabetes witnessed in the South East Asia across the world, with 82 million people suffering from diabetes in 2017. The diabetic patients are suggested to consume sugar-free products and prefer sweeteners and its by-products to avoid diseases and associated issues. It offers a great platform for potato starch manufacturers to serve in the market and is anticipated to increase in the overall potato starch market from the region.
“The Organic Potato Starch Segment is Expected to Hold the Largest Share during the Forecast Period”
The organic potato starch segment is expected to hold the largest market share among the nature segment, in terms of value throughout the forecast period. The high consumer awareness and the benefits of organic food products are giving a pace to the growth of organic potato starch markets across the globe. The rising health-conscious consumers will consequently aid the consumption of organic potato starch in the forthcoming years. There are various preservatives and fertilizers that are used in the production of conventional potato starch which hampers the growth of conventional starch.
“Growing Paper and Textile Industry to Support the Growth of the Potato Starch Market”
The paper and the textile industry is expected to grow at a significant CAGR owing to the booming textile industry in the developing regions. There is a rapid increase in the population and lifestyle changes, which is the major factor for the change in clothing pattern. This helps in the growth of the textile industry. This, in turn, increases the consumption of potato starch. Followed by the textile and paper industry, the food and beverage industry is expected to hold the second-largest potato starch market share in terms of value. This is attributed to the high demand for thickeners and stabilizing agents for various RTE food products. There is a high demand for various convenience food products, and gives a positive growth for the market. Potato starch is majorly used in the production of antibiotics in the pharmaceutical industry.
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“Increasing Demand for Native Starch Products and Non-GMO Products aids in the Growth of the Market”
The consumers are becoming more aware of the benefits of natural ingredients based products, and increasingly shifting their preferences towards the native potato starch segments. The trend of organic and non-GMO products among the consumers is fueling the demand for native potato starch among the manufacturers for their food processing.
Europe is emerging as one of the major consumers of starch throughout the world. The growing demand for potato starch from HRI (Hotel, Restaurants, and Institutions) sector will enable growth in the region.
The consumption of potato starch in Europe has registered an increase in 2018, at USD 92.14 million value, which was an increase from the last few years, market due to the high consumption of convenience food products in the region.
North America Potato Starch Market Size2018
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On the geographical front, the potato starch market report has been segmented into North America, South America, Europe, Asia Pacific and the Middle East and Africa. Among these regions, the Europe is expected to consume a large amount of potato starch. This demand is due to the increased consumer dependency on potato starch in various end-use industries such as the textile and paper industry. Followed by Europe, Asia Pacific is expected to hold the second-largest market share in terms of value in the overall potato starch market.
“Focus of key players towards the launch of new products will create sales opportunities for the market”
There are various manufacturers in the potato starch market, and the major players include Emsland Group, Cargill, Incorporated, PEPEES Group, and Roquette. These manufacturers are focusing on various new product launches, which will help in expanding their product portfolio of the company, thereby impacting the potato starch market revenue.
The overview of the potato starch market and its growth across the world with the perceivable and justified benefits and the essential role of the potato starch in the textile and sweeteners industry indicates a significant growth of the global potato starch market. The utilization of potato starch is majorly growing across the North American countries, such as the U.S., Mexico, and Canada. However, the global potato starch market in Europe is expected to be the next major hotspot in the years to come.
The report provides qualitative and quantitative insights on the potato starch market and detailed analysis of potato starch market size and growth rate for all possible segments in the market.
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Along with this, the report provides an elaborative analysis of the global potato starch market dynamics and competitive landscape. Various key insights presented in the report are the price trend analysis, recent industry developments in the global potato starch market, such as mergers & acquisitions, the regulatory scenario in crucial countries, macro, and microeconomic factors, SWOT analysis, and key retail industry trends, competitive landscape and company profiles.
Value (USD Million)
Fortune Business Insights says that the potato starch market was valued at US$ 472 Mn in 2018 and is projected to reach US$ 761 Mn by 2026.
In 2018, the Potato starch market was valued at US$ 472 Mn.
Growing at a CAGR of 6.21 %, the potato starch market will exhibit steady growth in the forecast period (2019-2026)
Textile and Paper Industry is expected to be the leading segment in the Potato starch market during the forecast period.
Increased demand from the growing sweeteners industry will drive the growth of the potato starch market.
Emsland Group, Cargill, Incorporated, PEPEES Group, and Roquette are the key players in the potato starch market.
The North America is expected to hold the highest market share in the potato starch market.
Growing processed food sector and beverages market across the globe.