The North America organic starch market is expected to be valued at USD 275.9 billion by 2025, according to a new report by Grand View Research, Inc. Increasing consumption of healthy convenience foods has been a major factor driving the market since the last few years.
Rising adoption of convenience foods on account of busier lifestyles and higher standards of living is anticipated to drive the market over the forecast period. Product innovation and constant research & development are projected to create lucrative growth opportunities for manufacturers over the forecast period. The market is further expected to be driven over the next eight years by the rising product demand in food & beverage industry as well as increasing government support to promote organic ingredients. Several small mill producers are collaborating with large producers owing to the huge costs involved in transportation and storage. Rapid technological advancements in terms of production techniques are anticipated to open up huge growth avenues for manufacturers over the forecast period.
Bakery was the largest end-use segment in 2016 and is expected to continue to progress at a substantial rate over the forecast period. Meat segment is projected to ascend at the fastest CAGR of 3.5% over the next eight years.
Organic starch is being increasingly utilized in bakery, confectionery, meat, and dry blends, which is likely to have a positive impact on the market growth over the forecast period. Ease of availability and convenience of purchasing are factors contributing to the rising popularity of in-store bakery products in grocery and retail stores. E-commerce stores are creating a buzz in the industry owing to the convenience of product availability, purchase, and delivery. These stores require baked products with a longer shelf life. The shelf life of baked products depends on various factors including packaging, chemical composition, and freezing. Innovative methods are being developed by manufacturers to maintain the freshness of products throughout the extended shelf life.
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Further key findings from the report suggest:
The demand for organic starch in North America was recorded at 10,231.1 kilotons in 2016 and is estimated to progress at a CAGR of 3.1% from 2017 to 2025. The U.S. dominated North America organic starch market in 2016, followed by Canada.
By end use, bakery emerged as the largest segment of the market in 2016. Organic starch acts as a stabilizer, binder, and thickener in the production of food. The market is highly competitive in nature and driven by the rising demand for organic starch in different industrial verticals.
The U.S. market is projected to witness a substantial growth over the next decade owing to various developments across major industries, especially food & beverage. Organic starch market is considered a developed in the U.S. in light of the huge product demand from food & beverage sector.
Key market players include Pure Life Organic Foods Limited, Northern Grain & Pulse, Inc., International Sugars, Inc., Tate & Lyle, Royal Ingredients Group, and Aryan International. Major players such as Ingredion Incorporated are investing in the development of newer technologies coupled with the acquisition of raw material manufacturing companies. Agreements and collaborations are among the major strategies adopted by key players.
Grand View Research has segmented the North America organic starch market on the basis of end use, ingredient, and country:
End-Use Outlook (Volume, Kilotons; Revenue, USD Million; 2014 - 2025)
Ingredient Outlook (Volume, Kilotons; Revenue, USD Million; 2014 - 2025)
Country Outlook (Volume, Kilotons; Revenue, USD Million; 2014 - 2025)
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