The Potato Starch market is primarily propelled by evolving customer preferences for natural food ingredients. The trend of clean-label and plant-based products has progressively augmented the utilization of potato derivatives in the food industry. The growing trend of organic processed foods has underwritten the new product advancements in the food & beverage industry by utilizing starch as an imperative ingredient. Enticing sensorial & textural appeal and health advantages are some of the aspects that are propelling the growth of the global market.
In addition, different key players engaged in the food manufacturing industry are inclined toward the usage of cost-efficient acid-modified potato starch instead of gelling agent. This aspect is fostering the global potato starch market. In addition, the growing product usage in convenience food products is projected to foster market enlargement.
According to the SPER market research, ‘Potato Starch Market Size, Share & Trends Analysis By Type, By Nature, By End User, Regional Outlook, Competitive Strategies and Segment Forecasts to 2030’ states the global potato starch market is predicted to reach USD 5.9 Bn by 2030 with a CAGR of 6.2%. The dependence on convenience foods is growing with transforming lifestyle. Several working individuals do have sufficient time to cook the food due to their daily life limitations likewise traveling, work, and other. Convenience food comes in variabilities and can be prepared with little or no preparation.
Key players in the market are aimed at investing in the development of innovative products to strengthen their position in the market. The market exhibits a moderately consolidated structure. The industry is registered by a few foremost players due to their massive client base, robust brand loyalty, & distribution network. Moreover, key players are aiming on acquisition, strategic mergers, and partnerships to further consolidate their market position.
Although, demand for potato starch from the dairy alternatives, bakeries, confectionary, meat & seafood, and soups & sauces is predicted to be more owing to the growing sizes of these industries. With the increasing population and growing living standards, clients are consuming products that fit their checklist in terms of ingredients, labels, and several other aspects. Owing to such customer trends, foremost industries likewise pharmaceuticals, food & beverages, cosmetics & personal care, and many more are switching to ingredients and additives that just do not solve an individual existence but an array of demands, and in such a scenario, potato starch is turning out to be a promising ingredient.
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Regionally, North America controls a commanding position in the potato starch market share on account of increasing demand from the food and beverage industry. The market in the region is commonly fostered by the increasing trend of clean-label and plant-based products. Customers presently are looking for healthy products that also deliver indulgence. There is an increasing popularity of operation food, which also involve healthy snacks that use starch as a natural additive.
As we move forward, the market situation is evolving owing to the growing size of end-use industries. As the requirement for end products such as paper, textiles, food & beverages, etc., augments, the requirement for ingredients is also probable to be more. This results in an optimistic market requirement outlook for potato starch for the years ahead.
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