In terms of value, the potato starch market is projected to reach USD 5.60 billion by 2029, at a CAGR of 3.9% from 2022 to 2029, while in terms of volume, this market is projected to reach 5,128.5 thousand tons by 2029, at a CAGR of 3.6% from 2020 to 2029, according to a recently published report by Research and Markets.
The report provides an in-depth analysis of the potato starch market across five major geographies, current market trends, size, and recent developments, and the forecast till 2029. The potato starch market is projected to reach USD 5.60 billion by 2029, at a CAGR of 3.9% from 2022 to 2029.
The high growth of the potato starch market is mainly attributed to the growing demand for processed and convenience food, the increasing need for potato starch in the paper industry, the rising incidence of celiac disease and other food allergies, and the rising demand for functional food products.
However, the availability of alternative starches in the market is expected to hinder the growth of this market to a notable extent.
Based on nature, the potato starch market is segmented into organic and conventional potato starch. In 2022, the conventional potato starch segment is expected to account for the larger share of the potato starch market. The large market share of this segment is mainly attributed to its low cost, easy availability, and rising adoption in the paper and chemical industries.
Based on function, the potato starch market is segmented into thickener, binder, stabilizer, disintegrant, and other functions. The thickener segment is projected to register the highest CAGR during the forecast period of 2022-2029.
The growth of this segment is mainly attributed to the growing use of potato starch as a thickener in the food & beverage, pharmaceuticals, and paper industries due to its enhanced functional properties. It primarily provides thickness and texture in food products to address consumer requirements and maintain a stable texture in various conditions.
Based on application, the potato starch market is segmented into food & beverages (bakery & confectionery products, dairy products, soups & sauces and savory & prepared food products, meat & seafood products, and other food and beverage products); paper industry; pharmaceuticals & chemicals; animal feed; and other applications.
In 2022, the food & beverages segment is expected to account for the largest share of the potato starch market. The large market share of this segment is mainly attributed to the increasing consumer awareness regarding the consumption of food products with natural ingredients.
The wide range of potato starch applications in the food & beverages industry, the growing consumer preference for clean label & healthy products, and the rising demand for ready-to-eat and ready-to-cook food products, and growing consumer preference for clean label and healthy products.
A source: https://www.potatopro.com
