The global rice starch market has gained lucrative growth with the increasing demand for processed food. The growing urbanization has its direct influence on the rice starch market to flourish. This market had the valuation of US$176 mn in 2018, and it is expected to reach US$252 mn by 2024, at a robust CAGR of 5.68% between 2018 and 2026. The market is driven by various end-user industries from food to cosmetics and so on.
The research team of QY Research has published its analytical study and the future possibility of the market in its latest report, titled “The Global Rice Starch Market Research Report 2019”.
Global Rice Starch Market: Drivers
Rice starch is categorized by small granules, which are available in the range of 2-8 µm. Rice starch is widely used in the food industry, especially in processed food mixes and canned baby food. This demand has helped to heighten the growth of this market. Modified rice starch is one of the popular vegan substitutes for traditional powdered gelatin and it has added the demand, which helped the rice starch market to increase its global valuation. It is a very important product of different industries, such as pharmaceutical industry, chemical industry, and cosmetic industry. All these industries have boosted the future prospect of rice starch market, globally.
Global Rice Starch Market: Segment Analysis
The global rice starch market is segmented by type and application. In terms of type, the market is segmented into food-grade rice starch and industry grade rice starch. Where the food grade rice starch is exclusively produced for the food and beverage business; industry grade rice starch is mostly used for pharmaceutical, cosmetics, and other industrial use. In terms of application, the market is segmented into the food industry, cosmetic and personal care industry, pharmaceutical industry, and others.
Global Rice Starch Market: Regional Analysis
Geographically, the global rice starch market is segmented as North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. Asia Pacific has come up as the most dominant region in global rice starch market, where China and India are being the most prominent countries with high demand. The market is also being lucrative in Europe and North America, where the usage of processed food, cosmetics, and pharmaceutical products are very high.
Global Rice Starch Market: The Key Players
The key brand that has been discussed in the report of the global rice starch market includes BENEO, Bangkok starch, Ingredion, Thai Flour, WFM Wholesome Foods, and AGRANA. These companies are being most competitive in their approach and taking different business initiatives to maintain their business amid intense competition.
For instance, BENEO, a leading manufacturer of natural food ingredients, had unveiled its Remypure S52 clean label rice starch at IFT 2018, McCormick Place. This was the second clean label native rice starch of the company’s portfolio. It provided the food manufacturers an opportunity to offer unique textures and superb product stability even under unfavourable processing conditions. Such innovative consumer-oriented ideas help a brand to stay ahead in the competition.
Full Report Overview@ https://www.qyresearch.com/index/detail/740215/global-rice-starch-market