The ‘Global Starch Syrup Market Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global starch syrup market size, assessing the market on the basis of its segments like starch types, types, distribution channels, applications, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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The key highlights of the report include:
Market Overview (2018-2028)
Forecast CAGR (2023-2028): 4%
Starch syrup is versatile which makes it applicable in numerous industries. It is extensively used in the food and beverage industry as a sweetener and thickener. It also provides a creamy texture to food, making it look delicious and fresh. The thriving food and beverage industry across the emerging economies owing to the increasing population as well as rising disposable income is driving the demand for starch syrup. For instance, the HI-JEL starch syrup produced by Tate and Lyle is applicable in variety of condiments including sauces and dips.
Meanwhile, the increasing demand for healthy and tasty bakery and confectionery products owing to the changing lifestyles and increasing popularity of sugar alternatives are further propelling the starch syrup market growth.
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The heightening demand for starch syrup in the brewing industry to add concentrated wort to the stream of beer production is likely to be a crucial driving factor of the market. Additionally, the increasing popularity and sale of beer among youngsters are bolstering the demand for starch syrup from brewing mills.
At a regional level, the Asia Pacific leads with a significant market share owing to the high population base across major bakery and dairy products consuming countries such as India and China. Over the forecast period, the anticipated increase in expansion of the key end use industries of the product is likely to provide impetus to the starch syrup market.
Starch Syrup Industry Definition and Major Segments
Starch syrup, also known as starch sweetener, is defined as a syrup which is procured from various starch containing crops via different methods such as enzymatic method. Starch syrup can be derived from maltose, glucose, or fructose. The taste of this product is sweet and has a great capacity of absorption, due to which there are wide applications of the starch syrup market.
Based on starch type, the market can be segmented into:
Corn
Wheat
Tapioca
Potato
Others
The significant types of the product include:
Low Conversion Glucose Syrup
Glucose Maltose Syrup
Maltose Syrup
High Conversion Glucose Syrup
Others
Based on distribution channel, the market has been segmented into:
Supermarkets/Hypermarkets
Online
Convenience Stores
Others
The major applications of the product include:
Bakery
Beverage
Bars and Cereals
Confectionery and Snacks
Dressings and Sauces
Dairy
Pharmaceutical
Brewing Industry
Others
On the basis of region, the market can be categorised into:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Starch Syrup Market Trends
The key trends in the global starch syrup market include the increasing demand for the product from pharmaceutical industry. This can be attributed to the increasing research and development activities aimed towards curbing the cases of chronic diseases. Starch syrup is crucial in manufacturing of tablets and capsules.
Meanwhile, the changing preference of consumers towards online shopping is likely to be a major trend in the market propelling the demand for dairy, and bakery and confectionery products, among others. Emergence of online food delivery platforms are anticipated to boost the smoothness of the supply of condiments and dressings, thereby, adding to the starch syrup market growth.
The increasing popularity of healthy sweet desserts and premium packaged biscuits and cakes of innovative flavours is likely to be another key trend which is anticipated to expand the market opportunities in the coming years. Moreover, the increasing incorporation of starch syrup in agriculture product processing industry and starch deep process industry is expected to lead to a heightened revenue generation in the market.
Furthermore, the market for starch syrup is anticipated to be aided by technological advancements in the procurement process which include the implementation of high-end machines. These are likely to further support the production scale of starch syrups in the forecast period.
Key Market Players
The major players in the starch syrup market report are Tate & Lyle PLC, Cargill Inc., Tereos Internacional SA., Archer Daniels Midland Company, Tongaat Hulett Starch, Manildra Group, and Roquette Frères, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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