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Modified Starch Market Demand, Growth, Regional Analysis and Forecast by 2023

In 2016, North America and Asia-Pacific collectively accounted for more than half of the global modified starch market, and are expected to grow at the significant CAGRs during the forecast period. Asia-Pacific is expected to possess the highest CAGR, owing to the ongoing developments and high growth rate of food & beverage, pharmaceuticals, textile, and paper-making industries in this region.

Modified Starch Market size was $7,995 million in 2016, and is estimated to reach $10,700 million by 2023, growing at a CAGR of 4.2% from 2017 to 2023, According to a new report published by Allied Market Research. The food & beverage application segment accounted for more than half of the global market in 2016.

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Modified starches are treated materials or additives obtained from different botanical sources such as maize, wheat, cassava, potato, and others. These can be transformed into various functional forms based on the required application; thus, they are preferred over native starch as the latter has limited functionalities. The most common chemical technique employed in the manufacturing of modified starch includes treating the crude starch with acids, sodium hydroxide, or potassium hydroxide. The physical treatment of starch to make it modified usually involves heat-moisture treatment, annealing, and pre-gelatinization. Modified starch is mainly applicable in the food & beverage and paper-making industries.

Based on raw material, the market is divided into maize, cassava, potato, wheat, and others. Maize is considered as the main raw material for manufacturing modified starch, occupying nearly half of the market share in terms of volume. Wheat, cassava, and potato are some other widely used raw materials for modified starch.

Based on application, the market is classified into food & beverages, animal feed, paper-making, weaving & textiles, pharmaceuticals, and others. The food & beverages application is the largest application segment, covering more than half of the market share. Moreover, paper-making and pharmaceuticals are the other main applications of the market, growing at significant growth rates.

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The factors that drive the global modified starch market include growth in consumption in convenience food; facilitated modification of its functional properties; increase in usage in pharmaceutical, cosmetics, and paper industries. However, presence of possible alternatives of...

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