The global Starch Derivatives Market is likely to attain value above USD 75 billion by 2024. Increasing demand for sweeteners in several food items for example carbonated & energy drinks and bakery & confectionary will propel growth in the next seven years (2016-2024). Rising pharmaceutical industry in nations such as India, the U.S, Saudi Arabia, Brazil, and China is anticipated to boost for starch derivatives.
Strict regulations encouraging the use of natural ingredients across various sectors (pharmaceutical, textile, fermentation and cosmetics) will potentially drive the market. Elevated research and development (R&D) cost along with variable prices of raw materials could challenge the major growth during the review period.
The market is segmented by products, applications, and regions. Products are glucose syrup, maltodextrin, hydrolysates, cyclodextrin, modified starch, and others.
Glucose syrup led the market in 2014. It was valued at 55.0% in terms of volumes in that year. It is likely to witness major gains over the forecast period. This growth could be ascribed to rising consumption of desserts, ice creams, processed meats, bakery products, and sauces.
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Increasing glucose consumption in non-food applications counting adhesives, plywood, paper, cosmetics, and pharmaceuticals could spur the segment demand further. In addition, it serves as a volume adding agent, flavor enhancer, texture agent and inhibitor of sugar crystallization in drinks.