The market is driven by factors such as growth in demand for convenience foods, and multiple functionalities of starch, starch derivatives & sweeteners in a diverse range of end-user industries. High R&D costs and growing gum Arabic market are the major constraints for this market. The corn segment accounted for the largest market share in the industrial starch market, due to the large production of cornstarch globally, which is used in a diverse range of applications, owing to its multiple functionalities. It is followed by cassava, which is the fastest-growing segment. The development of both, food and non-food applications of cassava starch, has resulted in its growing demand, which is expected to grow further significantly in the next few years. The food & beverage segment accounted for the largest share of the industrial starch market, by application, in 2015. The dominance of this application can be attributed to the growing significance of varied functionality and continued usage of starch in a diverse range of food & beverage applications. The industrial starch market, by form, was dominated by the liquid form and is also projected to be the fastest-growing segment. This is attributed to the wide use of sweeteners such as maltodextrin and glucose syrups in the liquid form in a range of food & beverage, pharmaceutical, and personal care applications due to their functionalities such as thickening, bulking, and stabilizing.
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