Potato starch has a wide range of applications in various food segments such as bakery and confectionary, meat & fish, and pet food. Potato starch has various beneficial properties that can be used to prepare tasty and well-textured food. As an additive, it can improve the taste and smoothness of food. Changes in consumer behavior toward artificial and synthetic ingredient-based products, and their growing preference for natural and native-based products is an important factor for the increasing demand for the native potato starch and its products. Native potato starch has a wide range of application in the food & beverages industry, which is expected to boost the growth of the potato starch market across the globe.
The global potato starch market has witnessed substantial growth over the past few years, and this trend is anticipated to continue in the foreseeable future, at a decent CAGR of 5% over the forecast period 2020-2030.
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Potato Starch Market – Covid-19 Pandemic Repercussions
Strong worldwide distresses about the coronavirus pandemic has largely but negatively influenced the global operations of the food & beverage industry and the mindset of consumers regarding health risks. Additional to the aforementioned aspects, and on the trade and industry front, although the prices of potato starch have remained stable, a prolonged outbreak of COVID-19 will lead to economic uncertainty and rise in the prices of food ingredients. While the short-term impacts are more evident, it is yet to be assumed what degree of impact the outbreak will have on the supply chain in the long term.
Key Takeaways of Global Potato Starch Market Study
- There is increasing inclination of food & beverage manufacturers toward plant-based, nutritional-rich, and healthy ingredients, to offer healthy products to consumers. This factor is expected boost the demand for potato starch in the global market.
- Increasing industrial usage of potato starch, especially in paper, chemical, and pharmaceutical industries, is expected to fuel the growth of the global potato starch market during the forecast period (2020 to 2030).
- Organic products are free from chemicals, and thus, they are considered ideal for health-conscious consumers. This increasing demand for organic products is also propelling demand.
- The markets in South Asia and East Asia are expected to register significant growth in the global potato starch market over the forecast period.
“Key players in the global potato starch market could increase their profits by targeting food, industrial, and pharmaceutical manufacturers. The COVID-19 pandemic has already impacted the food & beverage and agriculture industry due to supply chain disruptions and impact on production lines. As such, manufacturers of potato starch need to restructure their business strategies to increase their revenue; the market will see a recovery in the third and fourth quarters of 2020,” says a PMR analyst.
Global Potato Starch Market: Competitive Landscape
Some of the key players included in the potato starch market report are AGRANA Beteiligungs-AG, Avebe, Tereos S.A, Tereos S.A, Finnamyl Oy, Royal Ingredients Group, Novidon, and others. Potato starch manufacturers are following the strategy of strategic alliances or partnerships with regional food manufacturers. This trend is increasing across Europe, East Asia, and South Asia, and helping potato starch manufacturers to increase their market presence and product offerings in the global market. Manufacturers are also investing in research & development to innovate products. They are focusing on developing and providing products with high nutrition content, as well as good taste and texture.
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Explore More Valuable Insights on Potato Starch Market
Persistence Market Research, in its new report, offers an impartial analysis of the global potato starch market, presenting historical data (2015-2019) and estimation statistics for the period of 2020-2030. The study offers compelling insights on the potato starch market based on product type (modified and native), nature (organic and conventional), and end use (food, industrial, and pharmaceuticals), across seven regions.
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