Latin America Industrial Starch Market had value of USD 9.91 billion in 2021 and is forecasted to exhibit a CAGR of 6.69% and reach USD 13.7 billion by 2026.
The Industrial Starch market is predicted to showcase huge potential in the forecasting period. The market has continued to gain momentum with ease of availability as well as high efficiency of alternatives to natural starch like cassava. Thus, the market has witnessed rapid growth in the recent years and is expected to maintain the trend in the years to come.
Industrial Starch is mainly used by industries for adhesive purposes and has a wide range of applications. It is generally obtained from various sources such as wheat, cassava, potato etc. Starch has variety of uses not only in food industry but in the non-food industries as well, like textile, paper, mining, building materials, due to its adhesive property.
Drivers and Restraints of Latin America Industrial Starch Market:
The market has experienced a sudden shift in its value in recent years which can be attributed to various factors. Some of the major ones include rise in demand for adhesive products in various industries, recent growth of food processing industry, growing need for convenience foods and the various functional benefits of starch. On the other side, the market faces various challenges and restraints as well, including high investment costs of R&D, growth of the Arabic Gum market and also the availability of alternates like resin glue for the adhesive purposes of starch.
Latin America Industrial Starch Market – By Source:
The corn segment led the market share.
Latin America Industrial Starch Market – By Type:
The starch derivatives and sweeteners accounted for the highest market share under type segmentation due to reduced limitation as well as higher efficiency.
Latin America Industrial Starch Market – By Application:
The food and beverages industry holds the highest share in the market sue to the growing need for starch in food products.
Latin America Industrial Starch Market – By Form:
And the respective market share is dominated by the liquid form due to high efficiency.
On the basis of geography, the Latin America market is analysed under various regions namely Brazil, Argentina, Mexico and rest of Latin America.
Some of companies fighting for dominance in the market, by their products and services include Cargill, Ingredion Incorporated, Archer Daniels Midland Company, AGRANA Beteiligungs-AG, Tate & Lyle PLC, Grain Processing Company, The Tereos Group, Roquette Frères, Altia Industrial Services, Royal Cosun.
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