LONDON–(BUSINESS WIRE)–#GlobalModifiedPotatoStarchMarket–The modified potato starch market is expected to grow by USD 289.37 million during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.
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Increasing population, rising income, and improving purchasing power of consumers in developing countries in APAC and South America are some of the factors attracting significant investments in food and beverage, pharmaceuticals, and paper industries. Besides, the emergence of China and India as major manufacturing hubs of F&B products has increased the consumption of modified potato starch. Also, the easy availability of raw materials, inexpensive labor, low transportation costs, availability of land, and favorable government policies are encouraging many market vendors in developed countries to shift their manufacturing activities to these countries. These factors are fueling the growth of the global modified potato starch market.
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As per Technavio, the superior properties of modified potato starch will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Modified Potato Starch Market: Superior Properties of Modified Potato Starch
Modified potato starch is widely used in various industries such as food and beverages, pharmaceuticals, and paper owing to its superior properties. (Read more…) For example, the adhesive and binding properties of modified potato starch make it ideal for use in the pharmaceutical and corrugated paperboard industries to formulate medicines and adhesives. In the textile industry, it is used to improve the finishing of fabrics. Also, the quick-drying nature of modified potato starch is increasing its applications in the paper industry to improve paper quality for printing. During the forecast period, the growth of these end-user industries is expected to have a positive impact on the global modified potato starch market.
“Increasing demand from the food and beverages industry will further boost market growth during the forecast period,” says a senior analyst at Technavio.
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Modified Potato Starch Market: Segmentation Analysis
This market research report segments the modified potato starch market by application (Food and beverages, Paper and paperboard, Pharmaceuticals, and Others) and Geography (Europe, North America, APAC, South America, and MEA).
The European region led the modified potato starch market in 2019, followed by North America, APAC, South America, and MEA respectively. During the forecast period, the European region is expected to register the highest incremental growth due to the increased production of potatoes in countries such as Germany, France, Poland, the Netherlands, and the UK.
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Some of the key topics covered in the report include:
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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