global starch derivatives market 2015-2019

Global Starch Derivatives Market 2015-2019

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01. Executive Summary ........................................ 1

02. List of Abbreviations ........................................ 2

03. Scope of the Report ........................................ 3

03.1 Market Overview .................................................... 3

03.2 Product Offerings .................................................... 3

04. Market Research Methodology ..................... 4

04.1 Market Research Process ...................................... 4

04.2 Research Methodology ......................................... 4

05. Introduction ..................................................... 6

06. Market Landscape ......................................... 7

06.1 Market Overview .................................................... 7

07. Global Starch Derivatives Market ................. 9

07.1 Market Size and Forecast ...................................... 9

07.2 Five Forces Analysis ............................................. 10

08. Segmentation of Market by Type ................ 12

08.1 Segmentation of Global Starch Derivatives

Market by Type .................................................... 12

09. Global Starch Sweetener Market ................ 13

Market Size and Forecast......................................................... 14 09.1.1

09.2 Global Maltodextrin Market ................................ 15

Table of Contents




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Market Overview ....................................................................... 15 09.2.1


09.3 Global Cyclodextrin Market ............................... 16

Market Overview ....................................................................... 16 09.3.1


09.4 Global Glucose Syrup Market ............................ 17

Market Overview ....................................................................... 17 09.4.1


09.5 Global Hydrolysates Market ............................... 18


10. Global Modified Starch Market ................... 19

10.1 Market Size and Forecast .................................... 19

11. Segmentation of Market by Application .... 20


Market by Application ......................................... 20


Market by Application ......................................... 21

11.3 Global Starch Derivatives Market in Food and

Beverage Sector................................................... 22


11.4 Global Starch Derivatives Market in

Pharmaceutical Sector ........................................ 23


11.5 Global Starch Derivatives Market in

Papermaking Sector ............................................ 24





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11.6 Global Starch Derivatives Market in Personal

Care Sector ........................................................... 25


11.7 Global Starch Derivatives Market in Others

Sector .................................................................... 26


12. Geographical Segmentation ....................... 27


Market by Geography ......................................... 27


Market by Geography 2014-2019 ...................... 28

12.3 Starch Derivatives Market in APAC Region ....... 29


12.4 Starch Derivatives Market in Americas .............. 30


12.5 Starch Derivatives Market in Europe .................. 31


12.6 Starch Derivatives Market in ROW ...................... 32


13. Key Leading Countries ................................. 33

13.1 US ........................................................................... 33

13.2 China ..................................................................... 34

13.3 India....................................................................... 34

14. Buying Criteria ............................................... 35

15. Market Growth Drivers .................................. 38




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16. Drivers and their Impact ............................... 39

17. Market Challenges ....................................... 41

18. Impact of Drivers and Challenges .............. 42

19. Market Trends ................................................ 43

20. Trends and their Impact ............................... 44

21. Vendor Landscape ....................................... 45

21.1 Competitive Scenario .......................................... 45

21.2 Market Vendor Analysis 2014 ............................. 45

21.3 Other Prominent Vendors .................................... 46

22. Key Vendor Analysis..................................... 47

22.1 ADM ....................................................................... 47

Key Facts ..................................................................................... 47 22.1.1

Business Overview...................................................................... 48 22.1.2

Business Segmentation by Revenue 2013 ............................ 49 22.1.3

Business Segmentation by Revenue 2012 and 2013 .......... 49 22.1.4

Geographical Segmentation by Revenue 2013 ................. 50 22.1.5

Business Strategy ........................................................................ 50 22.1.6

Recent Developments ............................................................. 51 22.1.7

SWOT Analysis ............................................................................. 52 22.1.8

22.2 Cargill .................................................................... 53

Key Facts ..................................................................................... 53 22.2.1


Business Segmentation ............................................................. 55 22.2.3






technavio insights


SWOT Analysis ............................................................................. 57 22.2.7

22.3 Roquette ................................................................ 58

Key Facts ..................................................................................... 58 22.3.1


Product Segmentation ............................................................. 60 22.3.3

Geographical Presence .......................................................... 60 22.3.4



SWOT Analysis ............................................................................. 62 22.3.7

22.4 Tate & Lyle ............................................................. 63

Key Facts ..................................................................................... 63 22.4.1


Business Segmentation by Revenue 2014 ............................ 65 22.4.3

Business Segmentation by Revenue 2012 and 2013 .......... 65 22.4.4



SWOT Analysis ............................................................................. 67 22.4.7

23. Other Reports in this Series ........................... 68




technavio insights

Market Research Methodology.................................. 4 Exhibit 1:

Segmentation of Global Starch Derivatives Market 7 Exhibit 2:

Segmentation of Global Starch Derivatives Market Exhibit 3:

by Type ................................................................................... 7


by Application ....................................................................... 8


by Geography ....................................................................... 8

Global Starch Derivatives Market 2014-2019 (US$ Exhibit 6:

billion) ...................................................................................... 9


by Type ................................................................................. 12


by Type 2014 and 2019 ....................................................... 12

Segmentation of Global Starch Sweetener Market Exhibit 9:

by Type ................................................................................. 13

Segmentation of Global Starch Sweetener Market Exhibit 10:

by Type 2014 and 2019 ....................................................... 13

Global Starch Sweetener Market 2014-2019 (US$ Exhibit 11:

billion) ................................................................................... 14

Global Maltodextrin Market 2014-2019 (US$ billion) .. Exhibit 12:

..................................................................................... 15

Global Cyclodextrin Market 2014-2019 (US$ billion) .. Exhibit 13:

..................................................................................... 16

Global Glucose Syrup Market 2014-2019 (US$ billion) Exhibit 14:

..................................................................................... 17

List of Exhibits




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Global Hydrolysates Market 2014-2019 (US$ billion) .. Exhibit 15:

..................................................................................... 18

Global Modified Starch Market 2014-2019 (US$ Exhibit 16:

billion) ................................................................................... 19


by Application ..................................................................... 20


by Application 2014 and 2019 ........................................... 21

Global Starch Derivatives Market in Food and Exhibit 19:

Beverage Sector 2014-2019 (US$ billion) .......................... 22

Global Starch Derivatives Market in Pharmaceutical Exhibit 20:

Sector 2014-2019 (US$ billion) ............................................ 23

Global Starch Derivatives Market in Papermaking Exhibit 21:


Global Starch Derivatives Market in Personal Care Exhibit 22:


Global Starch Derivatives Market in Others Sector Exhibit 23:

2014-2019 (US$ billion) ......................................................... 26


by Geography ..................................................................... 27


by Geography 2014 and 2019........................................... 28

Starch Derivatives Market in APAC Region 2014-Exhibit 26:

2019 (US$ billion) .................................................................. 29

Starch Derivatives Market in Americas 2014-2019 Exhibit 27:

(US$ billion) ........................................................................... 30

Starch Derivatives Market in Europe 2014-2019 (US$ Exhibit 28:

billion) .................................................................................... 31




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Starch Derivatives Market in ROW 2014-2019 (US$ Exhibit 29:

billion) .................................................................................... 32

Major Vendors in Global Starch Derivatives Market .. Exhibit 30:

..................................................................................... 45

ADM: Business Segmentation by Revenue 2013 .... 49 Exhibit 31:

ADM: Business Segmentation by Revenue 2012 and Exhibit 32:

2013 (US$ million) ................................................................. 49

ADM: Geographical Segmentation by Revenue Exhibit 33:

2013 ..................................................................................... 50

Cargill: Business Segmentation 2013 ........................ 55 Exhibit 34:

Cargill: Geographical Segmentation by Revenue Exhibit 35:

2013 ................................................................................... 55

Roquette: Product Segmentation ............................ 60 Exhibit 36:

Roquette: Geographical Presence ......................... 60 Exhibit 37:

Tate & Lyle: Business Segmentation by Revenue Exhibit 38:

2014 ..................................................................................... 65

Tate & Lyle: Business Segmentation by Revenue Exhibit 39:

2013 and 2014 (US$ billion) ................................................. 65

Tate & Lyle: Geographical Segmentation by Exhibit 40:

Revenue 2014 ...................................................................... 66



1



01. Executive Summary

Market Size 2014: US$42.56 billion

2019: US$59.20 billion

Market Growth Rate 2014: 5.8 percent

2019: 7.4 percent

CAGR 6.82 percent

Key Geographies

APAC: 35 percent

Americas: 33 percent

Europe: 28 percent

ROW: 4 percent

Key Leading Countries

US: 21 percent

China: 13 percent

India: 9 percent

Key Customer Segments

Food and Beverage Sector

Pharmaceutical Sector

Papermaking Sector

Personal Care Sector

Others

Key Market Drivers

Increased Demand from Food and Beverage Sector

Extensive Use in Sweetener Conversion

Rise in Usage of Glucose Syrup

Key Market Challenges

Increased Usage of Gums as a Substitute

Red Ocean Scenario

Maintenance of Production Efficiency

Key Market Trends

Advances in Technology

Intense R&D Activities

Rise in Disposable Income of Consumers

Key Buying Criteria

Availability

Cost

Eco-friendliness

Taste

Key Vendors

Archer Daniels Midland Co. (ADM)

Cargill Inc.

Roquette Freres

Tate & Lyle plc



2



02. List of Abbreviations

APAC - Asia Pacific

FDA - Food and Drug Administration

GRAS - Generally Recognized as Safe

ROW - Rest of the World



3



03. Scope of the Report

03.1 Market Overview

This report covers the present scenario and the growth prospects of the Global Starch

Derivatives market for the period 2015-2019. To calculate the market size and to arrive at the

prominent vendors of the market, the report considers the revenue generated by the market

vendors. It provides the vendor landscape and a corresponding detailed analysis of the top five

vendors in the Global Starch Derivatives market. The report also provides data on the different

segments of the Global Starch Derivatives market, which are based on the following criteria:

Type (starch sweetener and modifier starch)

Application (Food and Beverage, Papermaking, Pharmaceutical, Personal Care, and

Others)

Geography (APAC, Americas, Europe, and ROW)

03.2 Product Offerings

Some of the products offered by the major vendors in the Global Starch Derivatives market are

listed below:

Company Products Offered

ADM Starch Derivatives

Cargill Starch Derivatives

Ingredion Starch Derivatives

Roquette Freres Starch Derivatives

Tate & Lyle Starch Derivatives



4



04. Market Research Methodology

04.1 Market Research Process

TechNavio has collected key data related to the Global Starch Derivatives market and analyzed

these data using a variety of methods. The market dynamics have been ascertained following a

detailed study of the micro, meso, and macroeconomic indicators of the market.

04.2 Research Methodology

This report is based on in-depth qualitative and quantitative analyses of the Global Starch

Derivatives market. The quantitative analysis involved the application of various projection and

sampling techniques. The qualitative analysis involved primary interviews, surveys, and vendor

briefings. The data gathered as a result of these processes were validated through experts'

opinions.

Market Research Methodology Exhibit 1:

Source: TechNavio Analysis

Global Starch

Derivatives Market

2015-2019



5



Based on the research results and technical insights thus gathered, TechNavio analysts have

provided a comprehensive analysis of the varied aspects of the market. The impact of global

economic conditions and other macroeconomic indicators was also considered when assessing

the market.



6



05. Introduction

Starch derivatives are formed through the chemical reaction of raw starch, which contains

hydroxyl groups and various functional groups. Starch derivatives have distinguished

characteristics such as gelatinization, fluid viscosity, fluid paste stability, and chemical resistance.

These derivatives have a wide range of applications in the Food and Beverage, Papermaking,

Pharmaceutical, Personal Care, and Others sectors.

The Global Starch Derivatives market is expected to grow at a steady pace, posting a CAGR of

6.82 percent during the forecast period. In 2014, the APAC region dominated the market, which

accounted for the highest revenue, owing to an increase in the demand from the Food and

Beverage sector. The APAC region was followed by the Americas and Europe.

The Global Starch Derivatives market is driven by several factors. Increased demand for food

and beverage is one of the major drivers of the market. Starch derivatives are environment-

friendly ingredients and are being used widely in the Food and Beverage sector because of high

sugar prices. Extensive use in sweetener conversion is another major driver.

Despite the presence of several factors, the growth of the Global Starch Derivatives market is

curtailed by certain serious challenges. Increased use of gum as a substitute to starch derivatives

is one of the major challenges. Gums are used widely and act as a substitute to starch

derivatives in many sectors such as Food and Beverage, Papermaking, Personal Care,

Pharmaceutical, and Others. The red ocean scenario is also posing a challenge to the growth of

the Global Starch Derivatives market.

Though certain serious challenges exist in the market, the presence of certain trends is expected

to contribute to the growth of the Global Starch Derivatives market. One such trend is the

advances in technology, which help improve the throughput of the process equipment to

reduce costs and maintenance. Intense R&D activities is another emerging trend.



7



06. Market Landscape

06.1 Market Overview

The Global Starch Derivatives market is categorized based on the following criteria: type,

application, and geography.



Based on type, the Global Starch Derivatives market can be classified as follows.

Segmentation of Global Starch Derivatives Market by Type Exhibit 3:


Market Segmentation

Type Application Geography

Segmentation by Type

Starch Sweetener

Maltodextrin Cyclodextrin Glucose Syrup Hydrolysates

Modified Starch



8



Based on application, the Global Starch Derivatives market can be classified as follows.

Segmentation of Global Starch Derivatives Market by Application Exhibit 4:


Based on Geography, the Global Starch Derivatives market can be classified as follows.

Segmentation of Global Starch Derivatives Market by Geography Exhibit 5:


Segmentation by Application

Food and Beverage

Pharmaceutical Papermaking Personal Care Others

Segmentation by Geography

APAC Americas Europe ROW



9



07. Global Starch Derivatives Market

07.1 Market Size and Forecast

The Global Starch Derivatives market was valued at US$42.56 billion in 2014 and is expected to

reach US$59.20 billion by 2019, growing at a CAGR of 6.82 percent.

Global Starch Derivatives Market 2014-2019 (US$ billion) Exhibit 6:


The Global Starch Derivatives market is expected to grow at a steady pace during the forecast

period. The major driver of this market is the increased demand for food and beverage. Glucose

syrup is the most widely used starch derivative in the Food and Beverage sector.



10



07.2 Five Forces Analysis

Threat of Rivalry

(Moderate)

Competition among existing players is moderate when it comes to the Global Starch

Derivatives market

Bargaining Power of Suppliers

(Low)

Starch derivative manufacturers are less

dependent on suppliers as most of the activities are done by manufacturers

Bargaining Power of Buyers

(Moderate)

Though customers have limited options of globally branded suppliers offering

products with warranty, they have options of regional and

domestic vendors that support customers at

competitive prices

Threat of New Entrants

(Low)

The probability for new players to enter this market is less

because of the strong positions of leading players with sizeable market shares. Large corporations can still

pose a threat to these companies by acquiring small

vendors in this market

Threat of Substitutes

(Moderate)

Gum can be used as a substitute for starch

derivatives



11



Key

The impact of the five forces is graded on the basis of the intensity and duration of their

influence on the current market landscape. The magnitude of the impact has been categorized

as described below:

Low - Negligible or no impact on the market landscape

Moderate - Medium-level impact on the market

Moderately High - Significant impact on the growth of the market

High - Very high impact, with radical influence on the growth of the market



12



08. Segmentation of Market by Type

08.1 Segmentation of Global Starch Derivatives Market by Type

Based on type, the Global Starch Derivatives market can be broadly segmented into two:

Starch Sweetener and Modified Starch. The Starch Sweetener segment can be further classified

into the following: maltodextrin, cyclodextrin, glucose syrup, and hydrolysates.

Segmentation of Global Starch Derivatives Market by Type Exhibit 7:


Segmentation of Global Starch Derivatives Market by Type 2014 and 2019 Exhibit 8:


Segmentation by Type

Starch Sweetener

Maltodextrin Cyclodextrin Glucose Syrup Hydrolysates

Modified Starch



13



09. Global Starch Sweetener Market

In terms of type, the Global Starch Sweetener market is classified into four.

Segmentation of Global Starch Sweetener Market by Type Exhibit 9:


Segmentation of Global Starch Sweetener Market by Type 2014 and 2019 Exhibit 10:


Maltodextrin Cyclodextrin

Hydrolysates Glucose

Syrup



14



Market Size and Forecast 09.1.1

The Global Starch Sweetener market was valued at US$34.22 billion in 2014 and is expected to


Global Starch Sweetener Market 2014-2019 (US$ billion) Exhibit 11:


The Global Starch Sweetener market is expected to grow at a fast pace during the forecast

period. The major driver is the use of starch sweetener in the Food and Beverage and

Pharmaceutical sectors.



15



09.2 Global Maltodextrin Market

Market Overview 09.2.1

Maltodextrin, one of the simplest forms of sugar, is a mixture of maltose, glucose,

polysaccharides, and oligosaccharides. It helps provide mass to food products without

increasing their sweetness and retaining the original calorific value. Maltodextrin is a nutritive

sweetener.


The Global Maltodextrin market was valued at US$3.19 billion in 2014 and is expected to reach

US$4.50 billion by 2019, growing at a CAGR of 7.12 percent.

Global Maltodextrin Market 2014-2019 (US$ billion) Exhibit 12:


The Global Maltodextrin market is expected to grow at a steady pace during the forecast

period. The market is mainly driven by the demand from downstream products, such as infant

formulae, clinical nutrition products, instant drinks, and ice creams.



16



09.3 Global Cyclodextrin Market


Cyclodextrin is produced during the transformation process of starch, using certain bacteria

such as Bacillus macerans. It is used extensively in the Food and Beverage sector as a stabilizer

of food flavors and for the elimination of undesired tastes or food compounds. Cyclodextrin is

also used in many personal care and industrial products.


The Global Cyclodextrin market was valued at US$1.49 billion in 2014 and is expected to reach


Global Cyclodextrin Market 2014-2019 (US$ billion) Exhibit 13:


The Global Cyclodextrin market is expected to grow at a steady pace during the forecast

period. Cyclodextrins are used as a food additive in Europe as well as in the US. Natural

cyclodextrins are confirmed to be GRAS in many countries. The US FDA has approved the use of

cyclodextrin in the new upcoming products.



17



09.4 Global Glucose Syrup Market


Glucose syrup is formed by the hydrolysis of starch. Glucose syrup is used for various applications

in sectors such as Food and Beverage, Personal Care, Pharmaceutical, and Papermaking. It is

also given to patients suffering from hypoglycemia.


The Global Glucose Syrup market was valued at US$24.68 billion in 2014 and is expected to


Global Glucose Syrup Market 2014-2019 (US$ billion) Exhibit 14:


The Global Glucose Syrup market is expected to grow at a steady pace during the forecast

period. Growth in the Food and Beverage sector is leading to an increase in the usage of

glucose syrup.



18



09.5 Global Hydrolysates Market


The Global Hydrolysates market was valued at US$4.85 billion in 2014 and is expected to reach


Global Hydrolysates Market 2014-2019 (US$ billion) Exhibit 15:


The Global Hydrolysates market is expected to experience a sluggish growth during the forecast

period. Hydrolysates are used as a sweetener in the Food and Beverage sector.



19



10. Global Modified Starch Market

10.1 Market Size and Forecast

The Global Modified Starch market was valued at US$8.34 billion in 2014 and is expected to


Global Modified Starch Market 2014-2019 (US$ billion) Exhibit 16:


The Global Modified Starch market is expected to grow at a steady pace during the forecast

period. Demand from the Convenience Food and Processed Food sectors is the major driving

force of the market. The market is also driven by the demand from the Bio-fuel industry and

emerging functional properties of modified starch. This is an emerging market and continuous

R&D activities are being carried out to widen its applications.



20



11. Segmentation of Market by Application

11.1 Segmentation of Global Starch Derivatives Market by Application

The major applications of starch derivatives are in the following sectors: Food and Beverage,

Papermaking, Personal Care, Pharmaceutical, and Others.

Segmentation of Global Starch Derivatives Market by Application Exhibit 17:


Food and Beverage

Pharmaceutical

Papermaking

Personal Care

Others



21



11.2 Segmentation of Global Starch Derivatives Market by Application

The Food and Beverage sector accounted for the largest share, with 58 percent in 2014. This was

followed by the Pharmaceutical and Papermaking sectors, which accounted for shares of 29

percent and 5.4 percent, respectively. The Personal Care sector accounted for a share of 4

percent in 2014.

Segmentation of Global Starch Derivatives Market by Application 2014 Exhibit 18:

and 2019


The Food and Beverage sector is expected to continue its dominant position during the forecast

period, accounting for a share of 58.6 percent in 2019. This is expected to be followed by the

Pharmaceutical and Papermaking sectors, with shares of 29.1 percent and 5.2 percent,

respectively. The Personal Care sector is expected to account for 3.8 percent in 2019.



22



11.3 Global Starch Derivatives Market in Food and Beverage Sector


The Global Starch Derivatives market in the Food and Beverage sector was valued at US$24.68

billion in 2014 and is expected to reach US$34.69 billion by 2019, growing at a CAGR of 7.05

percent.

Global Starch Derivatives Market in Food and Beverage Sector 2014-2019 Exhibit 19:

(US$ billion)


The Global Starch Derivatives market in the Food and Beverage sector is expected to witness

rapid growth during the forecast period. A rise in the demand for food and beverage in

emerging economies, such as China and India, is driving the Global Starch Derivatives market.

Glucose syrup is used widely in the Food and Beverage sector. It has various applications and

acts as a flavor enhancer, texturizing agent, volume adding agent, and prevents sugar from

crystallizing. A rise in disposable incomes of consumers is also another driving force in this region.



23



11.4 Global Starch Derivatives Market in Pharmaceutical Sector


The Global Starch Derivatives market in the Pharmaceutical sector was valued at US$12.34 billion

in 2014 and is expected to reach US$17.23 billion by 2019, growing at a CAGR of 6.90 percent.

Global Starch Derivatives Market in Pharmaceutical Sector 2014-2019 (US$ Exhibit 20:

billion)


The Global Starch Derivatives market in the Pharmaceutical sector is expected to grow at a

steady pace during the forecast period. Starch derivatives are used as a tablet binding agent,

excipient, and also as a tablet disintegrate in the Pharmaceutical sector. With a rise in

disposable incomes, consumers are spending more on health and lifestyle products.



24



11.5 Global Starch Derivatives Market in Papermaking Sector


The Global Starch Derivatives market in the Papermaking sector was valued at US$2.30 billion in

2014 and is expected to reach US$3.08 billion by 2019, growing at a CAGR of 6.01 percent.

Global Starch Derivatives Market in Papermaking Sector 2014-2019 (US$ Exhibit 21:

billion)


The Global Starch Derivatives market in the Papermaking sector is expected to grow at a steady

pace during the forecast period. In this sector, starch derivatives are used as a surface

improvement aid and as dry strength. Starch derivatives also act as a binding agent, water

holding agent, and as a carrier of chemical used for surface sizing and for other functional

additives. Starch derivatives used in paper pulp act as a binding agent, emulsifier, and as a

retention agent.



25



11.6 Global Starch Derivatives Market in Personal Care Sector


The Global Starch Derivatives market in the Personal Care sector was valued at US$1.70 billion in

2014 and is expected to reach US$2.25 billion by 2019, growing at a CAGR of 5.77 percent.

Global Starch Derivatives Market in Personal Care Sector 2014-2018 (US$ Exhibit 22:

billion)


The Global Starch Derivatives market in the Personal Care sector is expected to grow at a

steady rate during the forecast period. Starch derivatives are used as an emulsifier, stabilizer,

bulking agent, binder, anti-lumping agent, texturizer, and talcum replacer in cosmetics.



26



11.7 Global Starch Derivatives Market in Others Sector


The Global Starch Derivatives market in the Others sector was valued at US$1.53 billion in 2014

and is expected to reach US$1.95 billion by 2019, growing at a CAGR of 4.97 percent.

Global Starch Derivatives Market in Others Sector 2014-2019 (US$ billion) Exhibit 23:


The Global Starch Derivatives market in the Others sector is expected to grow at a slow pace

during the forecast period. Starch derivatives are used in film-forming properties, flocculation,

animal feed, to maintain pH stability, as an adhesive, and to maintain acidic stability.



27



12. Geographical Segmentation

12.1 Segmentation of Global Starch Derivatives Market by Geography

Segmentation of Global Starch Derivatives Market by Geography Exhibit 24:


Segmentation by

Geography

APAC

Americas

Europe

ROW



28



12.2 Segmentation of Global Starch Derivatives Market by Geography 2014-

2019

Segmentation of Global Starch Derivatives Market by Geography 2014 Exhibit 25:

and 2019




29



12.3 Starch Derivatives Market in APAC Region


The Starch Derivatives market in the APAC region was valued at US$14.90 billion in 2014 and is

expected to reach US$21.02 billion by 2019, growing at a CAGR of 7.12 percent.

Starch Derivatives Market in APAC Region 2014-2019 (US$ billion) Exhibit 26:


The Starch Derivatives market in the APAC region is expected to grow at a fast pace during the

forecast period. The APAC region was the major contributor to the Global Starch Derivatives

market in 2014. Starch derivatives such as glucose syrup and maltodextrin are expected to

experience rapid adoption in this region, because of their use in the Food and Beverage sector.

China and India are the major contributors to the market in the APAC region, with the highest

population in the world.



30



12.4 Starch Derivatives Market in Americas


The Starch Derivatives market in the Americas was valued at US$14.04 billion in 2014 and is

expected to reach US$19.60 billion by 2019, growing at a CAGR of 6.90 percent.

Starch Derivatives Market in Americas 2014-2019 (US$ billion) Exhibit 27:


The Starch Derivatives market in the Americas is expected to grow at a steady pace during the

forecast period. The Starch Derivatives market in the Americas is moving toward maturity in

North America. The demand for glucose syrup in the Americas is increasing, owing to its wide

application in the Food and Beverage sector.



31



12.5 Starch Derivatives Market in Europe


The Starch Derivatives market in Europe was valued at US$11.92 billion in 2014 and is expected to


Starch Derivatives Market in Europe 2014-2019 (US$ billion) Exhibit 28:


The Starch Derivatives market in Europe is expected to grow at a slow pace during the forecast

period. In Europe, starch derivatives are used in the Confectionary and Beverage sector,

followed by the Processed Food sector. The weak economic conditions are affecting the growth

of these end-users, thereby causing a sluggish growth of the Starch Derivatives market in Europe.



32



12.6 Starch Derivatives Market in ROW


The Starch Derivatives market in the ROW was valued at US$1.70 billion in 2014 and is expected

to reach US$2.25 billion by 2019, growing at a CAGR of 5.77 percent.

Starch Derivatives Market in ROW 2014-2019 (US$ billion) Exhibit 29:


The Starch Derivatives market in the ROW is expected to grow at a slow pace during the

forecast period. In the future, the market is expected to experience moderate growth because

of a rise in disposable income of people in developing economies, increasing population, and a

rise in the demand for food and beverage products.



33



13. Key Leading Countries

Based on production capacity, the leading countries in the Global Starch Derivatives market in

2014 are given below:

13.1 US

The Starch Derivatives market in the US is witnessing increased adoption of starch derivatives

because of the extensive use in sweetener conversion in the Food and Beverage sector. A major

challenge faced by this market is the increased use of gums as a substitute for starch derivatives.

Though the market is facing certain challenges in the US, it is witnessing growth because of the

presence of certain trends such as advances in technology.

Major Driver

•Extensive Use in Sweetener Conversion

Major Challenge

•Increased Use of Gums as a Substitute for Starch Derivatives

Major Trend

•Advances in Technology



34



13.2 China

China is the largest producer and consumer of starch derivatives in the world. Starch derivatives

are used in the Food and Beverage sector in this country. China has emerged as the leading

manufacturer and exporter worldwide because of the availability of cheap labor, favorable

government policies supported by subsidy packages, and downstream processing capacity

additions. This country is witnessing increased adoption of starch derivatives owing to an

increase in industrial output, consumer consumption, capital investment, and import and export.

The major driver of the market in China is the increased demand from the Food and Beverage

sector.

13.3 India

In India, starch derivatives are used by many small and medium-sized manufacturers for various

applications, leading to the rapid growth of the market in the country. The market in India faces

a major challenge in terms of maintaining production efficiency. Despite the challenges, the

market is driven by increased demand for food and beverage applications. One of the trends

contributing to the growth of the market in India is a rise in disposable income.

Major Driver

•Demand from Food and Beverage Sector

Major Challenge

• Red Ocean Scenario

Major Trend

•Intense R&D Activities

Major Driver

•Increased Demand for Food and Beverage Applications

Major Challenge

•Maintenance of Production Efficiency

Major Trend

•Rise in Disposable Income of Consumers



35



14. Buying Criteria

Parameter Details Customer Segments Significance Attached

Availability

Starch derivatives should

be readily available

Food and Beverage

Sector

Papermaking Sector

Pharmaceutical

Sector


Others

Cost Starch derivatives should

be available at a low

price

Food and Beverage

Sector

Papermaking Sector

Pharmaceutical

Sector


Others

Low High 1 2 3 4 5

Low High 1 2 3 4 5

Low High 1 2 3 4 5

Low High 1 2 3 4 5

Low High 1 2 3 4 5

Low High 1 2 3 4 5

Low High 1 2 3 4 5

Low High 1 2 3 4 5

Low High 1 2 3 4 5

Low High 1 2 3 4 5



36



Eco-

friendliness

Starch derivatives should

be eco-friendly so that

they have a minimal

negative impact on the

environment and human

health

Food and Beverage

Sector

Papermaking Sector

Pharmaceutical

Sector


Others

Taste Starch derivatives should

be easily assimilated with

other products and

enhance the taste of the

product

Food and Beverage

Sector

Papermaking Sector

Pharmaceutical

Sector


Others

Low High 1 2 3 4 5

Low High 1 2 3 4 5

Low High 1 2 3 4 5

Low High 1 2 3 4 5

Low High 1 2 3 4 5

Low High 1 2 3 4 5

Low High 1 2 3 4 5

Low High 1 2 3 4 5

Low High 1 2 3 4 5

Low High 1 2 3 4 5



37



Key

The impact of the buying criteria is graded on the basis of the intensity and duration of their

influence on the current market landscape. The magnitude of the impact has been categorized

as described below:






38



15. Market Growth Drivers

Some of the key drivers of the Global Starch Derivatives market are discussed below:



Rise in Use of Glucose Syrup


Starch derivatives are environment-friendly ingredients and are used widely in the Food and

Beverage sector because of high sugar prices. Starch derivatives obtained from various sources,

such as corn, potato, rice, wheat, and tapioca, are used in many processed foods. Glucose

syrup is the most widely used starch derivative in the Food and Beverage sector.


Starch derivatives are used to provide a sweet taste to various products in the Food and

Beverage sector. They are used mainly in the Soft Drinks sector as a sweetener. Soft drinks are

one of the most preferred beverages in many countries, driving the adoption of starch

derivatives and hence the growth of the market.

Rise in Use of Glucose Syrup

Glucose syrup is the most widely used starch derivative in the Food and Beverage sector. As a

result of the rapid growth of the Food and Beverage sector in emerging economies such as

China and India, the demand for glucose syrup is increasing. Glucose syrup can be easily

assimilated into food and beverage products. It is also used in the brewing of beer and lagers.

Glucose syrup is used in the manufacture of vitamin C, antibiotics, and sweeteners for sugar-free

products. In the Industrial sector, glucose syrup is being used in oil well drilling muds and in the

sizing of glass fiber insulation.



39



16. Drivers and their Impact

Driver

Impact on Key Applications

Food and Beverage

Sector Papermaking Sector Pharmaceutical Sector

Increased Demand from

Food and Beverage

Sector

Extensive Use in

Sweetener Conversion

Rise in Usage of Glucose

Syrup

Driver Impact on Key Applications

Personal Care Sector Others


Food and Beverage

Sector

Extensive Use in


Rise in Use of Glucose

Syrup

Driver Impact on Geography

APAC Americas Europe


Food and Beverage

Sector

Extensive Use in



Syrup

Low High 1 2 3 4 5

Low High 1 2 3 4 5

Low High 1 2 3 4 5

Low High 1 2 3 4 5

Low High 1 2 3 4 5

Low High 1 2 3 4 5

Low High 1 2 3 4 5

Low High 1 2 3 4 5

Low High 1 2 3 4 5

Low High 1 2 3 4 5

Low High 1 2 3 4 5

Low High 1 2 3 4 5

Low High 1 2 3 4 5

Low High 1 2 3 4 5

Low High 1 2 3 4 5

Low High 1 2 3 4 5

Low High 1 2 3 4 5

Low High 1 2 3 4 5

Low High 1 2 3 4 5

Low High 1 2 3 4 5

Low High 1 2 3 4 5

Low High 1 2 3 4 5

Low High 1 2 3 4 5

Low High 1 2 3 4 5



40



Driver Impact on Geography

ROW


Food and Beverage

Sector

Extensive Use in



Syrup

Key

The impact of the drivers is graded on the basis of the intensity and duration of their influence on

the current market landscape. The magnitude of the impact has been categorized as

described below:




Low High 1 2 3 4 5

Low High 1 2 3 4 5

Low High 1 2 3 4 5



41



17. Market Challenges

Some of the key challenges faced by vendors in the Global Starch Derivatives market are

discussed below:

Increased Use of Gums as a Substitute

Red Ocean Scenario


Increased Use of Gums as a Substitute

Vendors in the Global Starch Derivatives market are facing huge competition because of the

availability of gum as a substitute. Gums are used to replace starch derivatives in various

applications in sectors such as Food and Beverage, Papermaking, Personal Care,

Pharmaceutical, and Others. The increased use of gums as a substitute is hindering the growth of

the Global Starch Derivatives market.

Red Ocean Scenario

The Global Starch Derivatives market is highly fragmented with the presence of a large number

of small and medium-sized players. With the existence of a large number of vendors in the

market, intense competition is witnessed among these players in terms of pricing and service

offering. These players are focusing on producing starch derivatives at a low rate. Manufacturers

are investing in R&D to provide product differentiation, retain existing customers, and reduce

manufacturing costs. With an increase in imports from China and other countries, the demand

for starch derivatives manufactured in North America is being affected. New plants are also

being set up that manufacture starch derivatives.


Certain discrepancies may arise in maintaining the production efficiency of starch derivatives.

Manufacturers find it difficult to meet customer requirements and expectations. Production

processes of starch derivatives need to be streamlined to avoid such discrepancies. Competitors

can differentiate themselves based on quality, efficiency, and price. By maintaining uniform

product efficiency, the end-user experience can be enhanced.



42



18. Impact of Drivers and Challenges

Key

The impact of the drivers and challenges is graded on the basis of the intensity and duration of

their influence on the current market landscape. The magnitude of the impact has been

categorized as described below:



Moderately High - Significant impact on the growth of the market




43



19. Market Trends

Some of the key trends emerging in the Global Starch Derivatives market are discussed below:





With emerging technological developments and innovations, the demand for starch derivatives

is increasing. Technological innovations are expected to increase the market penetration of

starch derivatives and make them effective in providing better solutions in various end-user

industries. Industrial manufacturers are introducing new variants of starch derivatives that have

various uses in bioethanol and other industrial applications. The effectiveness of these products

through applied technology increases the demand for starch derivatives in the market.

Advances in technology help improve the throughput of the process equipment to lower costs

and maintenance. The equipment is also modified to produce starch derivatives with more

consistent quality and properties.


Existing market players in the Global Starch Derivatives market are investing heavily in R&D to

differentiate their products from competitor products. Intense R&D activities have led to new

product launches and new product applications. Manufacturers are also investing in R&D to

provide product differentiation, retain existing customers, and reduce manufacturing cost.


Developing countries have witnessed a rise in income levels, rapid modernization, and an

increase in health concerns, which have contributed to the rise in demand for starch derivative

products. Consumers are moving toward sophisticated lifestyles and have developed the need

for a variety of food and beverage product options worldwide. An increase in the use of starch

derivatives in food and beverage products has led to the growing demand for starch derivatives

in the market.



44



20. Trends and their Impact

Key

The impact of the trends is graded on the basis of the intensity and duration of their influence on

the current market landscape. The magnitude of the impact has been categorized as

described below:






45



21. Vendor Landscape

21.1 Competitive Scenario

The Global Starch Derivatives market is highly fragmented with the presence of many small and

large vendors. The market is dominated by large global vendors such as ADM, Cargill, Roquette

Freres, and Tate & Lyle. These players have vast geographical presence with huge production

facilities located worldwide. Nonetheless, there is a sizeable number of small regional vendors

dominating the market.

21.2 Market Vendor Analysis 2014

The major vendors in the Global Starch Derivatives market are shown below.

Major Vendors in Global Starch Derivatives Market Exhibit 30:


ADM Cargill

Roquette Freres

Tate & Lyle



46



21.3 Other Prominent Vendors

The other prominent vendors in the Global Starch Derivatives market are described below:

Company Description

Agrana

Manufacturer and seller of sugar and

isoglucose worldwide

Avebe

Producer and supplier of products based on

potato starch and protein for food

ingredients, paper starches, additives, animal

feed, and related products

BENEO

Manufacturer and supplier of food ingredients

and pharma excipients for the Food and

Pharmaceutical sectors

Emsland-Starke

Produces and markets potato starch

worldwide

Grain Processing

Manufactures and markets corn-based

products worldwide

Ingredion Inc

A leading manufacturer and distributor of

starch, sweetener, and nutrition ingredients to

various end-use industries

Lasenor Developer and producer of food emulsifiers

Lipoid

Supplier of lecithins and phospholipids and

natural emulsifiers to the Pharmaceutical

sector

Stern-wywiol Gruppe Produces food and feed ingredients



47



22. Key Vendor Analysis

22.1 ADM

Key Facts 22.1.1

Company Details Description

Stock Listings New York Stock Exchange

Ticker Symbol ADM



48



Business Overview 22.1.2

ADM was formed in 1923, with the acquisition of Midland Linseed Products by Archer-Daniels

Linseed. It is headquartered in Chicago, Illinois, US. The company produces and commercializes

food ingredients, biofuels, animal feeds, feed ingredients, and other agricultural commodities.

The company operates through four key segments:

Oilseeds Processing: This segment is engaged in the origination, crushing, merchandising,

and processing of oilseeds such as cottonseed, canola, soybeans, rapeseed, and sunflower

seed to make vegetable oils and protein meals

Corn Processing: This segment performs corn wet milling and dry milling activities to form

starches, sweeteners, and other bio products

Agricultural Services: This segment is engaged in buying, storing, cleaning, and transportation

of agricultural commodities such as wheat, rice, oilseeds, oats, barley, corn, and milo, and

resells these commodities as food and feed ingredients, and also as raw materials for the

Food Processing industry

Other: This segment comprises of the remaining operations of the company, basically its

financial business unit

The company owns and leases a wide range of trucks, river barges, trailers, towboats, railroad

tanks, and hopper cars for the smooth transportation of its products to its customers. In addition,

it possesses over 270 processing plants and markets its products in over 140 countries. As of

December 31, 2013, it had a workforce of 31,100 employees. The company's revenue was

US$89,804 million and its R&D expenditure was US$59 million in In FY2013.



49



Business Segmentation by Revenue 2013 22.1.3

ADM: Business Segmentation by Revenue 2013 Exhibit 31:


Business Segmentation by Revenue 2012 and 2013 22.1.4

ADM: Business Segmentation by Revenue 2012 and 2013 (US$ million) Exhibit 32:




50



Geographical Segmentation by Revenue 2013 22.1.5

ADM: Geographical Segmentation by Revenue 2013 Exhibit 33:


Business Strategy 22.1.6

Operational Strategy

The company seeks to maintain a leading position in the global agribusiness by diversifying and

expanding its present product portfolio. In addition, it focuses on geographical expansion by

following strategic initiatives and by inaugurating new operational bases in the emerging

markets.



51



Recent Developments 22.1.7


Key Highlights

August 2014: Opens its global headquarters and

customer center in Chicago, Illinois, US

June 2014: Plans to expand its presence in the APAC

region by opening new facilities and offices

May 2014: Builds a sweetener and soluble-fiber

manufacturing complex at the port of Tianjin, China

Key Partnerships May 2014: Partners with Synthetic Genomics to

commercialize Omega-3 DHA

Key Mergers and Acquisitions

August 2014: Golden Peanut, its wholly owned

subsidiary acquires the assets of SA Groundnut

Marketing

July 2014: Acquires WILD Flavors, a producer of natural

flavor systems

June 2014: Acquires Alfred C. Toepfer International

and has plans to integrate Toepfer’s operations into

ADM’s



52



SWOT Analysis 22.1.8



53



22.2 Cargill

Key Facts 22.2.1


Cargill, established in 1865, is headquartered in Minneapolis, US. The company manufactures

and markets food and agricultural products in the US and internationally.

It offers more than 75 different products through four operating segments. Its key products and

services are animal nutrition and feed, commodity trading and processing, industrial/bio-

industrial products, energy and fuels, farmer services, financial and risk management, salt,

healthcare, and personal care.



54



The four operating segments of the company are:

Animal Nutrition and Protein

Food Ingredients and Applications

Origination and Processing

Industrial and Financial Services

The Animal Nutrition and Protein segment provides nutrition products and services to

commercial producers of seafood, beef, dairy, pork, poultry, and pet food. It also provides a full

range of meat and poultry products to food manufacturers, industries, and retailers.

The Food Ingredients and Applications segment focuses on the manufacturing and marketing of

food and beverage ingredients, specialty ingredients, and food applications and services. This

segment provides its products to food manufacturers, food service providers, and retail

industries. It also provides raw materials for animal nutrition and industrial applications.

The Origination and Processing segment focuses on connecting manufacturers of grain,

oilseeds, and other agricultural commodities, with their users. This is done by providing services

for origination, processing, marketing, and distribution. This segment also provides basic and

customized products and farming services to producers.

The Industrial and Financial Services segment provides financial and risk management, capital

management, and asset management services to its customers.

The company offers its products and services to a wide range of end-markets such as the

Agriculture, Commodity Trading and Processing, Food, Animal Health, Energy, Financial, and

Retail industries. Cargill's R&D focuses on the development of novel and innovative products and

solutions with improved efficiency and cost effectiveness. The company's R&D sector has more

than 1,300 employees in 200 locations.

The company classifies its geographies into six segments: North America, the APAC region,

Europe, Latin America, North Africa/Middle East, and Sub-Saharan Africa. The company, along

with its subsidiaries, joint ventures, and affiliates, operates in more than 67 countries, and it has

143,000 employees worldwide. Some of the key subsidiaries of the company are Cargill Cotton,

Cargill Grain & Oilseed Supply Chain, Cargill Sugar, Cargill Sugar & Ethanol Brazil, Cargill Tropical

Palm, Cargill Cocoa & Chocolate Brazil, Cargill Cocoa & Chocolate North America, Cargill Corn

Milling North America, Cargill Foods India, Cargill Foods Brazil, Cargill Foods Turkey, Cargill

Refined Oils Asia Pacific, Cargill Salt, Cargill Malt, Cargill Starches & Sweeteners China, Cargill

Beef, Cargill Case Ready, Cargill Meats Central America, and Cargill Meats Europe.



55



Business Segmentation 22.2.3

Cargill: Business Segmentation 2013 Exhibit 34:



Cargill: Geographical Segmentation by Revenue 2013 Exhibit 35:




56




Operational Strategy

The company focuses on the following strategies:

Strategic initiatives for business expansion in emerging markets

R&D of new products and also improving performance of existing products



Key Highlights

August 4, 2014: Signs distribution agreement with

Nagase Group for the distribution of TREHA trehalose

for use in food supplements throughout the US

July 30, 2014: Launches new risk tool to help customers

battle Early Mortality Syndrome

July 29, 2014: Acquires salt production business in

Hersey from Mosaic Company

June 25, 2014: Launches new neonatal pig nutrition

program

June 23, 2014: Develops non-genetically modified

soybean oil

June 19, 2014: Expands wheat processing plant in

Russia

June 17, 2014: Launches Ingrevita, a new omega-3 oil

blend



57






58



22.3 Roquette

Key Facts 22.3.1



59




Roquette was founded in 1933 and is headquartered in Lestrem, France. The company is

primarily into providing starch and starch derivatives. It prepares its raw materials by converting

four vegetables.

The company offers more than 700 products, which includes starch products, sugar and dietary

fibers, polyols, derivatives of fermentation and fine chemistry products, proteins and their

derivatives, fibers oils and soluble products, and bioethanol.

The product portfolio of the company are segmented as Starch Products, Polyols, and Proteins

and their Derivatives. These are explained as follows:

Starch Products: Consists of extended range of raw materials such as maize, waxy maize,

amylo maize, wheat, potato, and pea. The company developed specialty starches and is

fine-tuned to meet the requirements of more sophisticated end-users

Polyols: Offers a wide range of polyols that includes sorbitol, maltitol, mannitol, xylitol, and

isosorbide. The company is known as a global leader in polyols

Proteins and their Derivatives: Separates wheat, maize, pea, and potato into their respective

components such as starch, oil, fiber and protein. Apart from the carbohydrate resource,

proteins are certainly among the most valuable derivatives, especially appreciated for their

nutritive value

The company formed its first R&D center in 1951 and since then, it has launched many novel

products, solutions, as well as technologies.

The major end-users of the company's products are the Human Nutrition, Paper and Board,

Fermentation, Chemistry, Pharmacy-Cosmetology, and Animal Feed industries.

The company has a strong geographical presence with 17 operating production units worldwide

located in Europe, the US, and Asia.

The logistics operations of the company are built on three essential pillars: spirit of client service,

expertise and innovation, and flexibility and responsiveness.



60



Product Segmentation 22.3.3

Roquette: Product Segmentation Exhibit 36:


Geographical Presence 22.3.4

Roquette: Geographical Presence Exhibit 37:




61




Roquette focuses on the following strategic areas:

By improving its marketing strategy and research, the company is focusing on expanding its

core business of producing starch and starch derivatives

In order to make customers aware of their health, it is responding to clients demands and

participates in global issues as much as possible

Plans to intensify its development in emerging countries, especially Southeast Asia, India, the

Americas, and Russia



Key Highlights

October 2014: Receives a favorable opinion from EFSA

on 13.5 health claim application twice in a row

October 2014: Inaugurates a high-technology

pharmaceutical application development center in

Lestrem, Pas de Calais, France

October 2014: Receives a favorable opinion from EFSA

on 13.5 health claim application

September 2014: Roquette China launches a Chinese

website to provide ultimate user-friendly experience



62






63



22.4 Tate & Lyle

Key Facts 22.4.1


Stock Listings London Stock Exchange

Ticker Symbol TATE



64




Tate & Lyle was founded in 1921 and is headquartered in London, UK. The company is one of the

leading global providers of ingredients and solutions to the Food, Beverage, and Other

industries.

The company operates through two business segments:

Bulk Ingredients: Offers a variety of products, including sweeteners consisting of corn syrup,

dextrose, and glucose; industrial starches, ethanol, citric acid, bio-fuels, and acidulants; and

animal feeds such as corn gluten feed and meal

Specialty Food Ingredients: Offers starch-based specialty ingredients that include specialty

corn-based sweeteners comprising KYRSTAR crystalline fructose and high-intensity

sweeteners, including SPLENDA sucralose, PUREFRUIT monk fruit extract, and TASTEVA stevia

sweetners; texturants such as specialty starches and locust bean gum; health and wellness,

including PROMITOR soluble corn fiber, STA-LITE polydextrose, SODA-LO salt microspheres,

and Promoat beta glucan; and food systems, which include food stabilizer systems and

functional ingredient blend

The company operates in more than 30 locations. It has a network of research centers across

Europe, Southeast Asia, and the Americas. As on March, 31, 2014, the company had 4,523

employees and it invested US$ 44.22 million in R&D. It generated a revenue of US$4.22 billion in

2013.



65



Business Segmentation by Revenue 2014 22.4.3

Tate & Lyle: Business Segmentation by Revenue 2014 Exhibit 38:


Business Segmentation by Revenue 2012 and 2013 22.4.4

Tate & Lyle: Business Segmentation by Revenue 2013 and 2014 (US$ billion) Exhibit 39:




66




Tate & Lyle: Geographical Segmentation by Revenue 2014 Exhibit 40:




Key Developments

December 8, 2014: Announces the establishment of a

joint venture with Gemacom Tech Industria e

Comercio in Latin America

September 30, 2014: Launches CLARIA functional

clean-label starches, which empowers manufacturers

worldwide to formulate label-friendly products without

compromising quality



67






68



23. Other Reports in this Series

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Global Biosimulation Market 2014-2018

Global Construction Chemicals Market 2014-2018

Global Absorption Chillers Market 2014-2018

Global Algae Biofuel Technologies Market 2014-2018

Global Bone and Joint Ingredients Market 2014-2018

Global Electrostatic Precipitator Market 2014-2018

Global Automotive Catalyst Market 2014-2018

Global Aluminum Market 2014-2018

Global Electronic Chemicals and Materials Market 2014-2018

Global Industrial Mixer Market 2014-2018

Global Automotive Lightweight Materials Market 2014-2018

Global Non-ferrous Metals Market 2014-2018

Global Antibacterial Glass Market 2014-2018

Global Platinum Group Metals Market 2014-2018

Global Syngas Market 2014-2018

Global Vitamins Market 2014-2018

Global Chemicals for Water-intensive Industries Market 2014-2018

Global Polyurethane Foam Market 2014-2018

Global Cobalt Market 2014-2018



69



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