Industrial Starch Market Size - By Source (Corn Starch, Potato Starch, Wheat Starch, Cassava Starch, Rice Starch), By Function (Thickening Agent, Stabilizing Agent, Binding Agent, Gelling Agent, Film-Forming Agent, Emulsifying Agent), Product, Application

Industrial Starch Market Size - By Source (Corn Starch, Potato Starch, Wheat Starch, Cassava Starch, Rice Starch), By Function (Thickening Agent, Stabilizing Agent, Binding Agent, Gelling Agent, Film-Forming Agent, Emulsifying Agent), Product, Application & Forecast, 2023 - 2032

Industrial Starch Market size is estimated to expand at 5.6% CAGR from 2023 to 2032 attributed to increasing utilization in the textile sector for various applications, such as sizing, finishing, and fabric printing. The global expansion of the pharmaceutical space is contributing to the surging demand for industrial starch in the production of tablets, capsules, and other medicinal products. This has provided potential growth opportunities to the industry players, thereby supporting the overall market growth. For instance, in June 2023, BENEO, a major developer of functional ingredients for food, feed, and pharmaceuticals, invested six million euros in extra drying capacity at its Wijgmaal plant to meet the rising demand for its specialized rice starch components.

The industrial starch industry is segmented in terms of source, function, product, application, and region.

As per source, the market size from the cassava starch segment is expected to gain significant traction through 2032. With increasing demand across diverse industries, such as food, paper, textiles, and adhesives, cassava-based industrial starch offers excellent functional properties, including binding, thickening, and stabilizing capabilities. The cost-effectiveness and eco-friendly nature of cassava-based industrial starch is also contributing to its versatile applications in various manufacturing processes.

Industrial starch market from the adhesives and glues application segment will witness robust growth between 2023 and 2032 owing to growing prominence as key ingredient in adhesive and glue formulations. On account of its natural and renewable composition coupled with cost-effectiveness, industrial starch is an attractive choice for various adhesive applications in packaging, construction, and woodworking. With the rising demand for eco-friendly and sustainable adhesive solutions, the segment is projected to record steady growth in the forecasted timeline.

Regionally, Asia Pacific industrial starch market size is expected to grow at notable CAGR through 2032. The thriving industrial sector combined with the rising emphasis on sustainable and eco-friendly solutions is contributing to the industry growth. Of late, the customer demand for starch solutions is significantly increasing in both food service and traditional packaged food and drinks.

Additionally, the rising efforts by industry players to address the escalating demand for maize and other grains on account of the spike in the price of several key ingredients driven by the Russia-Ukraine will favor the regional market growth. To cite an instance, in September 2022, Ingredion Incorporated announced the opening of its cutting-edge manufacturing plant in Shandong, China for nearly doubling its starch production capacity and capabilities in the nation.