Native Starch Market in India Bolstered by Expanding Applications
The native starch market in India has witnessed a strong growth over the past few years. Some of the major driving factors include diverse applications, rapid growth of the food industry, and the on-going development of the end-use industries.
IMARC Group’s latest report, titled “Native Starch Market in India: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, finds that the native starch market in India reached a volume of around 2 Million Tons in 2016, growing at a CAGR of nearly 10% during 2009-2016. Native starch refers to the purest form of starch which is obtained from sources like corn, wheat, rice, cassava and potato. It is generally used to manage texture, control moisture, and stabilize food products such as yogurts, bakery items and convenience foods. In India, native starch has traditionally been used to stiffen textiles but now its applications are expanding into food as well as other non-food industries.
Highlights of the Native Starch Market in India:
Expanding applications of native starch across various sectors remain the primary growth driving factors.
In terms of consumption, food industry accounts for the majority of the market share.
Karnataka holds the majority of the total share, representing the largest market.
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Owing to the use of native starch in the manufacturing of a number of food products, the strong growth of the food industry has positively influenced its demand in the country. Development and expansion of paper and textile industries have also contributed towards the growth of the market as native starch enhances the strength of paper and is used as surface sizing agents in the textile sector. In the pharmaceutical industry, native starch finds applications as a diluent, disintegrant, binder and lubricant in many conventional tablets and capsules, stimulating its market growth in the region. Further, native starch is now being used in the production of biodegradable polymers and plastics which is anticipated to give a thrust to its demand. According to the report, the market is expected to reach a volume of around 3.5 Million Tons by 2022.
The market has been segmented on the basis of product type. Currently, corn starch accounts for the majority of the market share. Based on end-use industries, food represents the largest market followed by ethanol, paper and pharmaceuticals. On the basis of region, Karnataka remains the biggest producer of native starch, accounting for the majority of the total share. The other major markets include Gujarat, Maharashtra, Punjab and Uttarakhand. Some of the key players operating in the market are Roquette Riddhi Siddhi, Anil Ltd., Sukhjit Starch and Chemicals, Sayaji Industries and EICL.
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The report has examined the native starch market in India on the basis of: