Sri Lanka Starch & Starch Derivative Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.20 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Sri Lanka Starch & Starch Derivative Market Analysis
The Sri Lankan starch and starch derivative market is projected to grow at a CAGR of 5.2% during the forecast period 2020-2025.
- The market is majorly driven by the wide range of applications it provides in different sectors such as detergents, textile, pulp and paper industries, organic synthesis, and biofuel industry, along with the food and beverage industries. The market growth is highly impacted by the growth of the processing food industry and export-import factors.
- Moreover, government support in the country has further fueled the market growth as the Sri Lankan government is supporting foreign investment, and is aiming for the country to be recognized as one of the major corn and rice starch producers in the world.
- However, high dependency on imports to fulfill the growing demand for starch and starch derivatives are restraining the market growth across the country. Thailand is one of the major exporters of modified starches to Sri Lanka, and it contributes a major share of modified starch import in Sri Lanka.
Sri Lanka Starch & Starch Derivative Market Trends
This section covers the major market trends shaping the Sri Lanka Starch & Starch Derivative Market according to our research experts:
Increasing Production Rate Of Maize
The majority of starch and starch derivatives produced in Sri Lanka are derived from rice and maize. Growing production of starch derived from maize is likely to boost the export of starch derivatives, derived from maize, during the forecast period. Maize production in Sri Lanka has been witnessing a CAGR of 13.46% from the past six years and is the second-largest crop in terms of area cultivated, with the country producing approximately 200,000 metric tons of maize annually. But in case of other starches derived from other sources than maize, Sri Lanka hugely depends upon neighboring courtiers. Also, in 2017, Sri Lanka also witnessed a decline in the imports of maize and rice starch, as it has been witnessing a growth in the production of maize and rice starch from the past few years.
Acquisitive Demand of Starch & Starch Derivatives in Food & Beverage Industries
Properties of starch and starch derivatives such as higher viscosity and the associated high binding strength of the starch pastes that are used for numerous applications in processed food, such as baby food, sauces, cake mixes, etc are further driving the market in Sri Lanka. Also, with the growth in demand for processed food in Sri Lanka, native- and physically-modified starch is preferred, to absorb moisture in dry vegetables, fruit preparations, and mixed spices. Modified potato starch is used as a substitute for native corn starch in soups in Sri Lanka, as a thickening agent in soups and sauces. Maize starch is used in powder and canned soups, custard powder, instant desserts, ice cream, gravies and sauces, bakery, snacks, baby foods, and for food encapsulation. In addition, chemically-modified starch, like Alimentamyl, due to its thermal stable properties, is used as preserves, sauces, soups, freezable mayonnaises, ketchup, dairy products, fruit binding agents, frozen foods, etc.
Sri Lanka Starch & Starch Derivative Industry Overview
The Sri Lanka starch and starch derivative market is competitive in nature having a large number of domestic players competing for market share. Emphasis is given on the merger, expansion, acquisition, and partnership of the companies along with new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers. The key players dominate the country's market include KMC, Angel Starch & Food Pvt Ltd., Hoang Dang Processing Foodstuff Co., Ltd, Asia Fructose Co., Ltd., and Gulshan Polyols Ltd., among others.
Sri Lanka Starch & Starch Derivative Market Leaders
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KMC
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Angel Starch & Food Pvt Ltd.,
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Hoang Dang Processing Foodstuff Co., Ltd
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Asia Fructose Co., Ltd.
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Gulshan Polyols Ltd.
*Disclaimer: Major Players sorted in no particular order
Sri Lanka Starch & Starch Derivative Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 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 By 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 Others
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5.2 By 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 By 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 Industrial Applications
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6. COMPETITIVE LANDSCAPE
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6.1 Most Active Companies
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6.2 Most Adopted Strategies
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6.3 Market Position Analysis
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6.4 Company Profiles
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6.4.1 KMC
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6.4.2 Angel Starch & Food Pvt Ltd.
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6.4.3 Hoang Dang Processing Foodstuff Co., Ltd
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6.4.4 Asia Fructose Co., Ltd.
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6.4.5 Gulshan Polyols Ltd.
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6.4.6 SSPL
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Sri Lanka Starch & Starch Derivative Industry Segmentation
The Sri Lankan starch and starch derivatives market is studied for different types of starch derivatives such as maltodextrin, cyclodextrin, glucose syrups, hydrolysates, modified starch, and others. The market is also studied for different sources through which starch derivatives are derived include corn, wheat, cassava, and other sources; and its wide application in different end-user industries such as food and beverage, feed, paper industry, pharmaceutical industry, bioethanol, cosmetics, and other industrial applications.
| By Type | |
| Maltodextrin | |
| Cyclodextrin | |
| Glucose Syrups | |
| Hydrolysates | |
| Modified Starch | |
| Others |
| By Source | |
| Corn | |
| Wheat | |
| Cassava | |
| Other Sources |
| By Application | |
| Food and Beverage | |
| Feed | |
| Paper Industry | |
| Pharmaceutical Industry | |
| Bioethanol | |
| Cosmetics | |
| Other Industrial Applications |
Sri Lanka Starch & Starch Derivative Market Research FAQs
What is the current Sri Lanka Starch and Starch Derivative Market size?
The Sri Lanka Starch and Starch Derivative Market is projected to register a CAGR of 5.20% during the forecast period (2024-2029)
Who are the key players in Sri Lanka Starch and Starch Derivative Market?
KMC, Angel Starch & Food Pvt Ltd.,, Hoang Dang Processing Foodstuff Co., Ltd, Asia Fructose Co., Ltd. and Gulshan Polyols Ltd. are the major companies operating in the Sri Lanka Starch and Starch Derivative Market.
What years does this Sri Lanka Starch and Starch Derivative Market cover?
The report covers the Sri Lanka Starch and Starch Derivative Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Sri Lanka Starch and Starch Derivative Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Sri Lanka Starch and Starch Derivative Industry Report
Statistics for the 2024 Sri Lanka Starch and Starch Derivative market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Sri Lanka Starch and Starch Derivative analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
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