Starch Recovery Systems Market on the Rise
The Starch Recovery Systems Market is estimated to be valued at USD256m in 2018 and is projected to reach USD333m by 2023 at a CAGR of 5.4%.
A new market research report “Starch Recovery Systems Market By Component (Refining sieves, Hydrocyclones and centrifuges, Vacuum filters, Screw conveyors, and Filling stations), Plant size (Large, Medium, and Small), Application, and Region – Global Forecast To 2023”, published by MarketsandMarkets, shows that owing to factors such as the growing demand for snack food products; increasing environmental concerns; manufacturers’ inclination toward cost-efficient manufacturing processes and toward gaining profits from byproducts, the global market for starch recovery systems is projected to witness significant growth during the forecast period.
The hydrocyclones and centrifuges segment is estimated to dominate the market with the largest share in 2018.
On the basis of component, the hydrocyclones and centrifuges segment is estimated to account for a major market share in 2018. Multifunctionality of hydrocyclones and centrifuges and low operational and maintains costs are the key factors fueling the demand for these components. Expansion in the potato processing industry and technology upgradation of the manufacturing process are expected to drive the demand for starch recovery systems. These factors are fueling demand for hydrocyclones and centrifuges.
The frozen products segment of the starch recovery systems market is projected to account for the largest share by 2023. Frozen potatoes are popular among consumers due to the variety of flavors offered, their extended shelf life, and versatile use. The frozen potato products are fulfilling the demand for fresh potatoes. The demand for frozen potatoes is encouraging the potato processing industry to grow; this is, in turn, propelling the demand for starch recovery systems.
Asia Pacific is projected to dominate the starch recovery systems market, with the growing potato processing industry in the projected year.
Asia Pacific is projected to account for the largest market share by 2023. Due to the high population concentration in this region, there is an increasing demand for processed potato products; this, in turn, is fueling the demand for starch recovery systems in this region. Rising disposable income, changing lifestyles, and the increase in demand for functional food products are helping the growth of the potato processing industry in the region. In addition, the market is driven by the growing demand for potato chips and snacks in developing countries such as China and India. These factors together are fueling the growth of the starch recovery systems market in the Asia Pacific region.