Potato is considered to be one of the most popular feedstock used for the production of starch. Potato starch is a soft, tasteless, and odourless powder which is extracted from the cells of root tubers of the potato plant containing starch grains. It is a well-known source of carbohydrates and is often used as a thickening agent for the preparation of sauces, soups and stews. Additionally, potato starch offers numerous health benefits which include absorption of carcinogenic and toxic compounds, regulating blood sugar levels, and increasing the absorption of several minerals like magnesium and calcium. A new research report by IMARC Group, titled “Potato Starch Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, estimates that the global potato starch market reached a volume of 3.6 Million Tons in 2017. The report further expects the market to exceed 4 Million Tons by 2023, at a projected CAGR of 2.8% over the forecast period.
Global Potato Starch Market Drivers/Constraints:
- Potato starch has become popular among vegan and health-conscious consumers as it does not contain gluten. This is one of the factors which is primarily driving the growth of the market.
- The market is also being driven by the continuous rising demand for potato starch in numerous end-use industries such as pharmaceutical, adhesive, paper, chemical and textile.
- The raw materials for manufacturing potato starch are easily available as potatoes are one of the largely grown vegetables across the globe. This acts as another factor which is positively influencing the growth of the market.
- However, the global potato starch market is being hindered by the storage losses associated with potatoes along with the rising availability of substitutes.
Applications Insights:
On the basis of application, the global potato starch market has been segmented into food and industrial applications. Amongst these, food applications dominate the market, representing the largest segment. This is due to the fact that potato starch can be used for the production of various bakery and meat products.
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Regional Insights:
On a geographical front, Europe represents the leading market for potato starch. This can be accredited to the rising consumption of end-use products across the region. Europe is followed by Asia Pacific, North America, Latin America and, Africa and Middle East.
Competitive Landscape:
The market is highly fragmented with the presence of numerous small and large manufacturers who compete in terms of prices and quality. Some of the leading players operating in the market are:
- Avebe
- Emsland Group
- KMC
- Roquette
- Ingredion Incorporated
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