The global scope in starch derivatives was valued around worth of US$45.3 bn in year 2014. Expanding at a CAGR of 5.90% within the forecast period from 2015 to 2021, it is expectd to be of worth US$68.7 bn by the end of 2021.
Starch derivatives are witnessing high demand in cosmetics, pharmaceuticals, feed, paper, food and beverages, and different other products, for example, bioethanol and biofuels. The rapid rise in demand for these derivatives emerges from the food and beverages segment.
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The developing popularity of food on the go and non-carbonated and caffeinated drinks has filled their application in this segment and the pattern is anticipated to continue in the upcoming years as well. Asia Pacific is evaluated to remain the main region market for starch derivatives all through the forecast period from 2015 to 2021. The surge in demand for starch derivatives in India and China is the key factor behind the solid position of Asia Pacific in the global market for starch derivatives.
The growing preference for ready-to-consume food and beverages across the world is influencing the demand for starch derivatives significantly. The rising popularity of non-carbonated and energy drinks is complimenting this demand, as these beverages utilize natural sweeteners, of which these derivatives are important components. Apart from this, starch derivatives also have significant application in textile weaving and finishing, and the production of biofuels and glue due to which their demand is increasing by leaps and bounds.
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Lack of Time to Eat Food due to Busy Lifestyle to Propel Market Growth
The hyperactive way of life of individuals everywhere throughout the world has provided them with no sufficient time to have their food, fueling the demand for convenience food and beverages. While the growth for starch derivatives market is as of now high in developed countries, for example, the U.S., Germany, and the U.K., the quick urbanization is anticipated to fuel their demand in rising economies, for example, India, China, and Brazil. The increase in growth of these derivatives in natural sweeteners and their developing industrial usage is also providing promising scope in them altogether.