Industrial Grade Rice Starch Market Analysis and Latest Trends
Industrial Grade Rice Starch is a versatile ingredient derived from rice grains through a process of milling and separation. It is widely used in various industries such as food and beverage, pharmaceuticals, textiles, and paper making for its adhesive, binding, and thickening properties. The industrial grade rice starch market is witnessing significant growth due to the increasing demand for clean label and natural ingredients in various manufacturing processes. The rise in consumer awareness regarding the health benefits of rice starch, such as its gluten-free and hypoallergenic properties, is also driving market growth.
The Industrial Grade Rice Starch Market is expected to grow at a CAGR of 10.4% during the forecast period. The increasing adoption of industrial grade rice starch in the food and beverage industry as a thickening agent, stabilizer, and emulsifier is one of the key factors fueling market growth. Additionally, the growing demand for natural and plant-based ingredients in various applications is expected to further drive the market. Manufacturers are focusing on developing innovative rice starch products to cater to the evolving preferences of consumers, thereby contributing to market expansion. Overall, the industrial grade rice starch market is poised for steady growth in the coming years.
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Industrial Grade Rice Starch Major Market Players
Beneo is a leading player in the industrial grade rice starch market, offering high-quality rice starch products for various industrial applications. The company has a strong global presence and is known for its innovative solutions and high-quality products. Beneo's market growth has been steady over the years, driven by increasing demand for rice starch in industries such as food and beverage, pharmaceuticals, and paper and paperboard.
Ingredion is another major player in the industrial grade rice starch market, offering a wide range of rice starch products for different applications. The company has a strong customer base and a global network of distribution and sales channels, which has helped fuel its market growth. Ingredion's focus on research and development and product innovation has positioned it as a key player in the industry.
Bangkok Starch is a prominent player in the industrial grade rice starch market, known for its high-quality products and customer-centric approach. The company has experienced significant market growth in recent years, driven by increasing demand for rice starch in various industries.
Sales revenue for some of the above-listed companies are as follows:
Ingredion reported sales revenue of approximately $6.3 billion in 2020.
National Starch and Chemical Co reported sales revenue of approximately $7 billion in 2020.
Overall, the industrial grade rice starch market is highly competitive, with key players such as Beneo, Ingredion, Bangkok Starch, and others leading the industry with their high-quality products, innovative solutions, and strong market presence. With increasing demand for rice starch in various industries, these companies are expected to continue experiencing steady growth and expansion in the future.
What Are The Key Opportunities For Industrial Grade Rice Starch Manufacturers?
The Industrial Grade Rice Starch market is witnessing steady growth due to increasing demand in various industries such as food and beverages, pharmaceuticals, and cosmetics. The market is expected to experience a CAGR of around 4% from 2021 to 2026, driven by the rising usage of rice starch as a thickening agent, stabilizer, and texturizer in various applications. Additionally, the growing consumer preference for natural and organic ingredients is further fueling the market growth. With increasing research and development activities and technological advancements, the market is poised for continued expansion in the coming years.
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Market Segmentation
The Industrial Grade Rice Starch Market Analysis by types is segmented into: