Global Potato Starch Market Share is Forecast to Reach USD6.70bn by 2032
The global potato starch market’s share is projected to be over USD6.70bn by 2032. The market’s CAGR is projected to be 4.47% between 2024 and 2032. Research and Markets estimate that in 2023, it will be worth USD4.52bn.
The global market for potato starch is expected to be driven by an increase in the demand for processed foods and convenience foods. According to Innova Market Insights, there has been a net 3% increase in the consumption of convenience meals globally, with developing countries witnessing the greatest development. Surprisingly, US sales of convenience meals are still robust.
Furthermore, the development of the global potato starch market depends on the expansion of potato starch’s applications outside of the food industry. The product’s versatility and growing market reach are enhanced by its use in non-food sectors like paper, textiles, and pharmaceuticals.
“The growing demand from consumers for clean-label and gluten-free products has a substantial impact on the worldwide potato starch industry. Customers are moving away from the highly processed, low-calorie goods that dominated the later part of the previous century and toward a proper whole-food balanced diet. As a result, a growing number of consumers are turning to gluten-free foods to fuel their bodies and lay a solid, long-lasting foundation for a vibrant existence,” the company’s representatives say.
Asia-Pacific Potato Starch Market
Asia-Pacific’s potato starch market is primarily driven by the rapidly growing food industry in developing nations like China and India. The area’s expanding population and shifting dietary preferences are two other reasons driving the potato starch industry’s growth. As consumer lives change and become more Westernized, there is a growing need for processed and convenience meals, largely made with potato starch.
“The rising sales of potato starch are a result of rising per capita disposable income. Customers are willing to pay more for functional foods and drinks that contain potato starch,” the experts concluded.
