The global potato starch market was valued at USD 608.44 million in 2023. According to a recent report by Stellar Market Research, the market is projected to grow at a CAGR of 4.5% through 2030. This growth is driven by increasing demand across sectors such as food, pharmaceuticals, textiles, and chemicals.
Valued for its binding, thickening and stabilizing properties, potato starch's versatility makes it an essential ingredient in food processing, especially in baked goods, soups, sauces, etc. Besides food, potato starch is also attracting attention in the pharmaceutical sector due to its neutral taste and texture.
Market dominance in the Asia-Pacific region
Asia Pacific currently leads the potato starch market, accounting for a significant share of 42.2%. This growth is primarily driven by increasing consumption for food, adhesives, and fiber.
Emerging economies such as China and India are playing a key role in driving this demand, fuelled by an expanding food processing industry and a growing middle-class population demanding higher quality food.
Key Market Players and Innovations
Large companies such as Agrana Beteiligungs-AS, Avebe, Roquette Frères, Emsland-Stärke GmbH and KMC are investing in research and development to enhance the functional properties of potato starch.
Innovating product formulations and exploring new applications are key strategies that can further drive market growth.
Consumer trends and sustainable practices drive demand
The market is also benefiting from growing consumer preferences for clean-label, natural and plant-based ingredients. As a non-GMO and gluten-free product, potato starch aligns well with the trend towards healthier and more sustainable food choices. Its reduced environmental impact compared to other starches is increasing its appeal in environmentally conscious markets.
Future Opportunities and Market Challenges
While the market outlook remains positive, challenges such as fluctuating raw material costs and competition from other starches such as corn and tapioca remain obstacles. However, continuing advances in processing technologies and the inherent versatility of potato starch offer significant opportunities for innovation and market expansion.
Overall, Stellar Market Research's report suggests that the future of the potato starch industry is bright, urging stakeholders to adapt to emerging trends and capitalize on growth opportunities in the sustainable and health-conscious sector. For more detailed insights, the complete report provides a detailed analysis of market trends and strategic recommendations.
For more information, see the original press release from Stellar Market Research on OpenPR.
Source: Stellar Market Research
Image: congerdesign via Pixabay
