Markets and Markets released a report detailing the rapid growth of the global starch derivatives market, which is at $57.9 billion as of 2023 and is projected to reach $68.4 billion by 2028, expanding at a CAGR of 3.4%.
"The starch derivatives market is expected to increase in value due to a few primary driving factors. An increasing demand for processed foods, pharmaceuticals, and sustainable ingredients is among these. Likewise, new developments in starch-formulated products are being introduced, driving the demand for these modified starches. Alongside this, a desire for convenience foods and eco-friendly packaging is driving this market. Many customers are now expressing a preference for environmentally conscious products", said Cision's PR Newswire.
According to Persistence Market Research online, "Starch derivatives are modified starches that are created by physically or chemically altering natural starch to change specific properties for usage. These modified starches are used across multiple industries in many different applications. For example, these starches are used in the food and beverage industry as thickeners and stabilizers, in the pharmaceutical industry as tablet binders, in the cosmetics industry as emulsifiers, and many more." The report further explains that the modified starches market comprises several types of starches such as maltodextrin, cyclodextrin, glucose syrup, hydrolysates, and modified starch; glucose syrup being most widely used.
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