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Starch Market Analysis
Spend growth of this market has the potential to touch a value of over USD 11 billion with spend momentum accelerate at a CAGR of more than 5% between 2019-2024. Factors such as emergence of energy-efficient starch-production solutions, the growing awareness about starch-based biodegradable polymers, and the shift towards organic starch will contribute to this spend growth in the starch market during the forecast period. However, the availability of substitutes, issues faced during sourcing of optimal quality raw-materials will impact the prospects of spend growth in the starch market.
Top Spending Regions in the Starch Market
High demand for corn and modified starch will impact spend growth in the starch market across the key geographies during the forecast period.
North America
The high demand for corn and modified starch will propel the demand growth in this market. Starch is finding its extensive application in the food and beverage and pharmaceutical sectors. Suppliers in North America are developing industrial starch for industrial packaging and are expanding their production units within the region to cater to the demand for modified starch from food processing industries. This will have a positive impact on spend growth in the starch market in this region.
Europe
The increasing consumption of natural ingredients in food industry is creating the demand for modified starch that is used to make natural ingredients. This is driving spend momentum in the starch market in this region. Starch is used as a key material in the production of biodegradable plastic. The growing environmental awareness in this region is increasing the demand for biodegradable plastics, thereby driving investments in the starch market in Europe.
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Insights Offered in this Starch Market Report
Insights into Some of the Leading Starch Suppliers
The supply market dynamics hint at a substantial hike in suppliers' OPEX which will drive buyer's procurement spend. Keeping such dynamics in mind, strategic selection of suppliers and maintaining an effective supplier relationship management are observed to facilitate buyers with optimized procurement expenditure and better category management in the starch market. This starch market procurement intelligence report has enlisted the top suppliers and their cost structures, SLA terms, best selection criteria, and negotiation strategies for the top starch suppliers. The top starch suppliers highlighted in this report include:
Criteria to select suppliers in this dynamic starch market is subject to change based on the day-to-day market outlook. Get a free demo of our procurement platform to gain immediate access into real-time insights to the changing suppliers selection criteria.
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