The potato starch market is forecasted to total over US$ 8,800 million in 2019 and reach nearly US$ 14,000 million by the end of 2029, according to a new study by Persistence Market Research.
With consumers becoming more health conscious, they are becoming more aware of the benefits of non-GMO food and non-GMO food ingredients over chemically-processed food and food ingredients. This is increasing demand for non-GMO food which has caused production of non-GMO potato starch to grow over the last few years as manufacturers try to satisfy this demand.
An important factor for the increasing demand for the native potato starch and its product is the change in consumer behaviour towards artificial or synthetic ingredient-based products and their leaning towards natural and native-based products. Native potato starch has a wide range of applications in the food and beverages industry and it has many important properties due to which a large number of manufacturers are expected to enter this market.
Europe has the largest share in potato starch production and is also its largest consumer, followed by North America and East Asia. The demand for potato starch is increasing in developing economies of East Asia and South Asia where growing industrial applications of the product are propelling the increase in demand.
The increasing health concerns among consumers and increasing need for a gluten-free diet are boosting the demand for potato starch, which is a naturally gluten-free product. Rising sensitiveness for gluten and wheat is increasing the use of potato starch, especially in baked food.
Potato starch has a wide range of applications in various food segments such as bakery and confectionary, meat and fish, and pet food. Potato starch has various properties, which can be used to prepare tasty and well-textured food.
Potato starch manufacturers are following strategic alliances or partnerships with regional food manufacturers. This trend is increasing in Europe, East Asia, and South Asia and helping potato starch manufacturers to increase their market presence and product offering in the global market.
Manufacturers are also investing their money in research and development to innovate products, focusing on developing and providing products with a high nutrition content, as well as good taste and texture.