India Starch And Starch Derivative Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.60 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
India Starch And Starch Derivative Market Analysis
The India Starch and Starch Derivative Market size is expected to grow from USD 3.93 billion in 2023 to USD 4.92 billion by 2028, at a CAGR of 4.60% during the forecast period (2023-2028).
- Starch derivatives make up more than half of the market for starch derivatives and are utilized as thickeners, emulsifiers, gelling agents, and film-forming additives in the food industry. The range of uses for modified starches has been greatly increased due to their better functionality. Their functional characteristics greatly influence how well starches perform in the marketplace.
- Starch derivatives are used by many companies for a range of applications. They are used as thickeners and stabilizers in the food and beverage industry, as tablet binders in the pharmaceutical industry, as an emulsifier in the cosmetics industry, and as fiber additives in animal feed. Improved flocculation, adhesiveness, film formation, pH stability, shear stability, acid stability, and process tolerance are among the additional functions carried out by starch derivatives. The market is majorly driven by the abundant availability of raw materials from which starch is derived, low production costs incurred by the manufacturers, and the presence of many new players in the market.
- Also, the market is highly impacted by the export-import factors, which add high value to the revenue. Due to high production and less consumption of starch and starch derivatives in India, exports contribute, to a larger extent, to the growth of the market studied. In addition, the functional properties possessed by starch derivatives have also been instrumental in promoting their use in the pharmaceutical, cosmetic, and bioethanol industries.
- In addition, it is used in the chemical, agricultural, medical, and healthcare sectors as a culture medium, a bulking agent, a caking agent, a dehumidifier, and a bulking agent. The paper and pulp business uses surface sizer, corrugated paper, layer binder, and gummed tape as wet end additives. It is used in the textile industry for printing, glass fibers, warp sizing, spray sizing, and finishing. They are also used in dry cells, cement retardants, thickeners for acid pickling, ceramic fibers, and a variety of other applications.
- Starch is also often used in the cosmetics industry for a number of products, such as creams, shaving gels, lotions, bath treatments, and body powders. The market for starch derivatives is expected to expand as consumers become more interested in utilizing natural cosmetics. Furthermore, with increasing innovation, the applications in the confectionery segment are expected to grow at a faster rate, which leads to an increase in the requirement for glucose-corn syrup in food applications.
- However, inadequate manufacturing of specialty and modified starches to meet the demand from different sectors is restraining the market growth across the country.
India Starch And Starch Derivative Market Trends
Presence of Raw Materials In Abundance
- The agricultural cultivation of plants with a high starch content, such as potatoes, wheat, corn (maize), cassava, and rice, serves as the primary supply of raw materials for the synthesis of starch. The type of raw material will depend on the potential of agricultural production in the production locations. For instance, although rice and cassava are frequently used in Asia, Maize is frequently utilized in the Americas.
- The starch molecule can be extracted from the listed raw materials and marketed in that form (referred to as "native starch"), but it can also go through one or more chemical or physical changes to enhance its properties and broaden the scope of its applications. Both native and modified starches are used in the production of literally thousands of supermarket staples. Starches are commonly used in the production of instant and ready-to-eat foods presently, allowing them to preserve the right textural properties while freezing, thawing, and heating.
- Cereals are almost entirely used as the raw material for the manufacturing of starch. For instance, according to articles on starch published by Federal Research Centre for Nutrition and Food, Detmold, Germany, it states that more than 80% of the world's starch markets are supplied by corn (maize). Wheat produces less starch (>8%) than other crops. By-product credits play a large role in the economics of these crops' processing, which is conventional.
- In addition to the substrates already listed, other raw materials include cassava and potato tubers. Further raw materials include rice, sweet potatoes, barley, oats, and sago, which are all listed under the category "others." The major raw material for the Indian starch and starch derivative market is maize. Other raw materials used are potato and tapioca, but the volume of starch production using these raw materials is small compared to that from maize.
- For example, according to UN COMTRADE 2021, the major importer of maize from India includes countries such as Bangladesh, Vietnam, Nepal, Malaysia, and Myanmar. At the same time, the major exporters of maize to India include countries such as South Africa, the United States of America, Argentina, Brazil, and France. Therefore, the significant import and export values of maize in India indicate its raw material abundance. Hence, high raw material availability is a major market driver for India's starch and starch derivative market.
Rising Demand For Modified Starch
- The process of improving or reducing starches' beneficial and detrimental properties is known as starch modification. It alters the cooking process, lessens retrogradation, and enhances film creation and adhesion. It aids in improving pastes' potential to gel.
- Fast food restaurants frequently use modified starch to improve their food's flavor, taste, and texture, which will drive product demand during the projection period. The modified starches segment has witnessed the highest growth in India's starch and starch derivatives market. This is primarily due to the rising demand for low-calorie food products owing to the rising number of obese and diabetic people and growing awareness toward health.
- The major sources for the modified starch industry are corn, potato, wheat, cassava, and tapioca. Corn is the dominant source of modified starch, while tapioca is the growing source of raw material for the industry. Also, growing consumer demand for clean-label products and functional foods across the country has triggered market growth.
- Numerous industrial uses exist for corn starch, which is versatile and simple to modify. Its uses include anti-sticking agents and adhesives in the papermaking sector. Additionally, it is employed in the manufacture of textiles, sugar, and corn syrup. The addition of modified starches, which are great flavor transporters, can enhance ready-to-drink mixtures. It slightly increases viscosity for a silky smoothness in coffee, slushies, smoothies, and other beverages. It improves the quality of such baking items when added to pasta, soup, and mayonnaise. In many different sectors, especially those that use flavored oils, it is also highly helpful for emulsifying final products.
- Due to its many advantages, modified starch is employed in a variety of industries, including food, papermaking, cosmetics, personal care, and textiles. Modified starch is a versatile ingredient used in the personal care and cosmetics industries. As the demand for natural cosmetics has increased over the past few years and is anticipated to continue to expand over the coming years, manufacturers are creating new cosmetic products employing organic ingredients such as modified starch.
- For instance, in June 2022, the StarDesign brand consisted of various starch product ranges under Cargill Beauty. The company has operations and distribution networks in India. Its product offerings comprise waxy corn-based thickeners, emulsifiers, and sensory enhancers obtained sustainably from Maize.
India Starch And Starch Derivative Industry Overview
The Indian starch and starch derivatives market is competitive, with many domestic and multinational players competing for market share. Emphasis is given to the companies' merger, expansion, acquisition, partnership, and new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers. The key players dominating the country's market include global players such as ADM and regional players such as Tirupati Starch & Chemicals Ltd., Gayatri, Universal Starch Chem Allied Ltd., Sahyadri Starch & Industries Pvt. Limited, among others.
India Starch And Starch Derivative Market Leaders
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Archer Daniels Midland Company
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Tirupati Starch & Chemicals Ltd.
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Gayatri Bio Organics Limited
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Universal Starch Chem Allied Ltd.
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Sahyadri Starch & Industries Pvt. Limited
*Disclaimer: Major Players sorted in no particular order
India Starch & Starch Derivative Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions and Market Definition
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Drivers
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4.2 Market Restraints
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4.3 Porter's Five Forces Analysis
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4.3.1 Threat of New Entrants
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4.3.2 Bargaining Power of Buyers/Consumers
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4.3.3 Bargaining Power of Suppliers
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4.3.4 Threat of Substitute Products
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4.3.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 Type
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5.1.1 Maltodextrin
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5.1.2 Cyclodextrin
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5.1.3 Glucose Syrups
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5.1.4 Hydrolysates
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5.1.5 Modified Starch
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5.1.6 Other Types
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5.2 Source
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5.2.1 Corn
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5.2.2 Wheat
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5.2.3 Cassava
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5.2.4 Other Sources
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5.3 Application
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5.3.1 Food and Beverage
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5.3.2 Feed
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5.3.3 Paper Industry
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5.3.4 Pharmaceutical Industry
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5.3.5 Bioethanol
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5.3.6 Cosmetics
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5.3.7 Other Applications
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6. COMPETITIVE LANDSCAPE
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6.1 Most Adopted Strategies
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6.2 Market Position Analysis
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6.3 Company Profiles
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6.3.1 Archer Daniels Midland Company
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6.3.2 AUDYOGIK VIKAS NIGAM LTD. (Tirupati Starch & Chemicals Ltd.)
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6.3.3 Gayatri Bio Organics Limited
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6.3.4 Universal Starch Chem Allied Ltd.
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6.3.5 Sahyadri Starch & Industries Pvt. Limited
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6.3.6 Gulshan Polyols Ltd
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6.3.7 Sukhjit Starch & Chemicals Ltd.
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6.3.8 Gujarat Ambuja Exports Limited
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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8. ABOUT US
India Starch And Starch Derivative Industry Segmentation
Starch is a carbohydrate extracted from agricultural raw materials, which finds applications in literally thousands of everyday food and non-food products.
The Indian starch and starch derivatives market is segmented based on type, source, and application. By type, the market is segmented into maltodextrin, cyclodextrin, glucose syrups, hydrolysates, modified starch, and others. By source, the market studied is segmented into corn, wheat, cassava, and other sources. By application, the market studied is segmented into food and beverage, feed, paper industry, pharmaceutical industry, bioethanol, cosmetics, and other industrial applications.
The market sizing has been done in value terms in USD for all the abovementioned segments.
| Type | |
| Maltodextrin | |
| Cyclodextrin | |
| Glucose Syrups | |
| Hydrolysates | |
| Modified Starch | |
| Other Types |
| Source | |
| Corn | |
| Wheat | |
| Cassava | |
| Other Sources |
| Application | |
| Food and Beverage | |
| Feed | |
| Paper Industry | |
| Pharmaceutical Industry | |
| Bioethanol | |
| Cosmetics | |
| Other Applications |
India Starch & Starch Derivative Market Research FAQs
What is the current India Starch and Starch Derivative Market size?
The India Starch and Starch Derivative Market is projected to register a CAGR of 4.60% during the forecast period (2024-2029)
Who are the key players in India Starch and Starch Derivative Market?
Archer Daniels Midland Company, Tirupati Starch & Chemicals Ltd., Gayatri Bio Organics Limited, Universal Starch Chem Allied Ltd. and Sahyadri Starch & Industries Pvt. Limited are the major companies operating in the India Starch and Starch Derivative Market.
What years does this India Starch and Starch Derivative Market cover?
The report covers the India Starch and Starch Derivative Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the India Starch and Starch Derivative Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
India Starch and Starch Derivative Industry Report
Statistics for the 2024 India Starch and Starch Derivative market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. India Starch and Starch Derivative analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
