Continuous growth in consumption of convenient food products owing to busy lifestyles of consumers is one of the key factors bolstering the Philippines starch derivatives market growth. Rise in demand for products derived from natural ingredients offers lucrative Philippines starch derivatives industry opportunities to manufacturers.
The surge in awareness of the harmful effects of consuming excessive sugar has increased the demand for sugar substitutes and sweeteners. This factor is expected to bolster sales of glucose and dextrins/maltodextrins.
In addition to the food industry, starch-based feed ingredients are used as a source of nutrition and energy for poultry and livestock. With the rise in demand for starch derivatives in dairy and meat products, the animal feed industry is likely to boost the Philippines starch derivatives market development during the forecast period.
Starch is a significant industrial component owing to its versatility as a polymer. It is utilized in both food and non-food industries. Starch is the second most prevalent natural polymer after cellulose. Starch is mostly derived from the roots, stalks, and seeds of basic crops such as potato, maize, rice, wheat, and cassava.
Starch is mainly used in the food and beverage industry. Non-food applications of starch include the paper industry, the chemical industry, and the textile industry. These industrial applications prominently use modified starch. Increase in food as well as non-food applications is bolstering the market analysis of Philippines starch derivatives.
Key players across industries are investing and increasing their research and development efforts to cater to the ever-evolving needs of customers. Manufacturers across segments are focusing on improving their efficiency to offer new and unique products.
Functional properties of various starches can be utilized in different industries. The efforts by key players to offer new products is enhancing the Philippines starch derivatives market revenue.
| Attribute | Detail |
|---|---|
| Trends |
|
Health-conscious consumers are keen to find convenient ways to meet their nutrition requirements that can also fit into their hectic lifestyles.
The ongoing snackification trend and consumer preference for healthy foods are anticipated to boost demand for healthier snacks. Starch derivatives are considered one of the major ingredients utilized to create a wide variety of healthy snacks due to their low caloric value and cost-efficiency.
The rise in demand and consumption of processed and healthy snacks have impacted the starch derivatives market by augmenting their sales.
The number of multinational firms offering good quality starch derivatives for the food and industrial sectors is increasing due to the growing use of starch derivatives by both international and domestic food processing companies. All these factors are expected to fuel the Philippines starch derivatives market size during the forecast period.
Starches are primarily utilized as emulsifiers, deforming, encasing, and sizing agents in a wide range of industrial applications. They have grown in prominence across industrial applications in the Philippines since they can add textural qualities and help in the development of gels or films.
The starches must be physically or chemically altered during production to enhance their performance or provide valuable qualities in a wide range of industrial applications.
During starch modification, the genetics behind the starches' production comes into play. The modification of native starches allows for the modification of chemical and physical properties.
The only two types of starches that are widely and economically utilized in the market are native and modified because of the numerous ways in which they may be used to shape the physical characteristics of finished goods.
Starch is regarded as one of the most significant but versatile food constituents, with properties suitable for a range of industrial uses. Some of the commercial sources of starch for industrial utilization include cereal grains such as wheat, corn, and sorghum, as well as tubers and roots including tapioca, potato, and arrowroot.
Several modification techniques are used to change the properties of starch to fulfill the stringent technical requirements. The goal of starch modification is to address one or more of the drawbacks, which increases its adaptability and aids in meeting consumer demand.
As a result, the numerous chemically or enzymatically modified starch provides significant value addition and enables the creation of a wide range of manufactured food products with unique mouthfeels and textures.
The Philippines starch derivatives market value of modified starches has increased recently as varied starches are needed for a variety of products. The need for starch is further driven by international health and food trends.
Modified starch has numerous industrial and commercial applications. Its applications are so varied that it can be found in practically every industry, including the paper, textile, culinary, and furniture sectors. These industries create huge opportunities for starch manufacturers and processors for substantial gains or profit margins.
In terms of application, the Philippines starch derivatives market segmentation includes food industry, paper industry, textile industry, cosmetics industry, pharmaceutical industry, animal feed industry, and others. The food industry segment accounted for largest market share of around 39.3% in 2023.
In the food industry, starches are utilized as a binder, filler, and thickening agent in several food applications such as dairy & desserts, bakery products, and soups & sauces, followed by confectionery food products.
The functional benefits and key characteristics of starches as gluten-free starch have led to its high demand among food manufacturers in the Philippines market. The increasing disposable income of consumers is a key factor responsible for the growth of the food and beverage industry in the Philippines.
Demand for packaged and processed food products is anticipated to rise at a healthy growth rate due to the rapidly rising and highly urbanized population in the country.
| Attribute | Detail |
|---|---|
| Challenges | Limited Availability of Resources and Government Support Hindering Market in Philippines |
According to the Philippines starch derivatives market analysis, the cassava industry in the Philippines is relatively small as compared to Thailand, Indonesia, or Vietnam. The industry mainly comprises three sectors that align with the primary usage of cassava in the country.
The main products of the processing industry include starch, dried chips, and numerous food products. Cassava, as a traded commodity, contributes around 2% to the gross value-added products in agriculture.
The cassava starch industry in the Philippines has a rather bleak outlook in the absence of significant public-sector assistance in improving efficiency and productivity, which can hinder the market growth. Moreover, the absence of trade liberalization is also anticipated to threaten the survival of this sector.
Limited amount of support has been derived from the Philippine Council for Agriculture and Forestry and Natural Resources Research and Development (PCARRD), even though they have continuously sustained research reports on root crops; however, the support for technology transfer has been a major challenge to tackle.
The Philippines starch derivatives market is fragmented with the presence of a large number of multinational players. Companies in the sector have adopted strategies such as investment in Research & Development (R&D) activities, product portfolio expansion, and merger & acquisition in order to increase market share and presence.
Archer Daniels Midland Company (ADM), Asia Modified Starch Co., Ltd., Banpong Tapioca, BS Starch Chemical Co., Ltd., Cargill, Inc., Daesang Corporation, Ingredion, Lamsan Inc., Roquette Frères, Sonish Starch, Starch Asia, STARPRO, Taiwan Fructose Co., Ltd., Vedan VietNam Enterprise Co., Ltd, and Versa Group Philippines Corporation are some of the prominent Philippines starch derivatives market manufacturers.
The Philippines starch derivatives market research report profiles top players based on various factors including company overview, financial summary, strategies, product portfolio, segments, and recent advancements.
| Attribute | Detail |
|---|---|
| Size in 2023 | US$ 784.4 Mn |
| Forecast Value in 2034 | US$ 1.4 Bn |
| CAGR | 5.3% |
| Forecast Period | 2024-2034 |
| Historical Data Available for | 2019-2023 |
| Quantitative Units |
|
| Market Analysis | It includes segment analysis as well as regional level analysis. Moreover, qualitative analysis includes drivers, restraints, opportunities, key trends, value chain analysis, and key trend analysis. |
| Competition Landscape |
|
| Format | Electronic (PDF) + Excel |
| Segmentation |
|
| Country Covered |
|
| Companies Profiled |
|
| Customization Scope | Available upon request |
| Pricing | Available upon request |
It was valued at US$ 784.4 Mn in 2023
It is projected to reach more than US$ 1.4 Bn by the end of 2034
It is anticipated to grow at a CAGR of 5.3% from 2024 to 2034
Targeted nutrification of feed and growing textile industry to boost growth of cassava starch
The modified segment held the leading volume share of around 46.4% in 2023
Archer Daniels Midland Company (ADM), Asia Modified Starch Co., Ltd., Banpong Tapioca, BS Starch Chemical Co., Ltd., Cargill, Inc., Daesang Corporation, Ingredion, Lamsan Inc., Roquette Frères, Sonish Starch, Starch Asia, STARPRO, Taiwan Fructose Co., Ltd., Vedan VietNam Enterprise Co., Ltd, and Versa Group Philippines Corporation
1. Executive Summary
1.1. Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
4. Key Success Factors
4.1. Product Adoption / Usage Analysis
4.2. Product USPs / Features
5. Philippines Starch Derivatives Demand Analysis 2019-2023 and Forecast, 2024-2034
5.1. Historical Market Volume (Tons) Analysis, 2019-2023
5.2. Current and Future Market Volume (Tons) Projections, 2024-2034
5.3. Y-o-Y Growth Trend Analysis
6. Starch Derivatives- Pricing Analysis
6.1. Pricing Analysis
7. Philippines Starch Derivatives Demand (in Value or Size in US$ Mn) Analysis 2019-2023 and Forecast, 2024-2034
7.1. Historical Market Value (US$ Mn) Analysis, 2019-2023
7.2. Current and Future Market Value (US$ Mn) Projections, 2024-2034
7.2.1. Y-o-Y Growth Trend Analysis
7.2.2. Absolute $ Opportunity Analysis
8. Market Background
8.1. Macroeconomic Factors
8.1.1. GDP Growth Outlook
8.1.2. Industry Value Added
8.1.3. Urbanization Growth Outlook
8.1.4. Rank - Ease of Doing Business
8.1.5. Rank - Trading Across Borders
8.2. Food & Beverage Industry Outlook
8.3. Cosmetics and Personal Care Industry Outlook
8.4. Export/Import Trade Analysis of Starches by Country
8.4.1. List of Key Exporters
8.4.1.1. By Value (US$ Mn)
8.4.1.2. By Volume (Tons)
8.4.2. List of Key Importers
8.4.2.1. By Value (US$ Mn)
8.4.2.2. By Volume (Tons)
8.5. Industry Value and Supply Chain Analysis
8.5.1. Profit Margin Analysis at Each Point of Sales
8.5.1.1. Starch Derivatives Market Processors
8.5.1.2. Distributors/Suppliers/Wholesalers
8.5.1.3. Traders/Retailers
8.5.1.4. End-users
8.6. Key Regulations/Key Certifications
8.7. Key Players ( Manufacturing Outlook)
8.8. Key End-users ( Demand outlook)
8.9. Market Dynamics
8.9.1. Drivers
8.9.2. Restraints
8.9.3. Opportunity Analysis
8.10. Forecast Factors - Relevance & Impact
9. Philippines Starch Derivatives Analysis 2019-2023 and Forecast 2024-2034, by Product Type
9.1. Introduction / Key Findings
9.2. Historical Market Size (US$ Mn) and Volume Analysis By Product Type, 2019-2023
9.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By Product Type, 2024-2034
9.3.1. Native
9.3.2. Modified
9.3.3. Glucose
9.3.4. Dextrins/Maltodextrin
9.4. Market Attractiveness Analysis By Product Type
10. Philippines Starch Derivatives Analysis 2019-2023 and Forecast 2024-2034, by Source
10.1. Introduction / Key Findings
10.2. Historical Market Size (US$ Mn) and Volume Analysis By Source, 2019-2023
10.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By Source, 2024-2034
10.3.1. Corn
10.3.2. Potato
10.3.3. Tapioca/Cassava
10.3.4. Rice
10.3.5. Others
10.4. Market Attractiveness Analysis By Source
11. Philippines Starch Derivatives Analysis 2019-2023 and Forecast 2024-2034, by Application
11.1. Introduction / Key Findings
11.2. Historical Market Size (US$ Mn) and Volume Analysis By Application, 2019-2023
11.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By Application, 2024-2034
11.3.1. Food Industry
11.3.1.1. Bakery Products
11.3.1.2. Confectionery Food Products
11.3.1.3. Dairy & Desserts
11.3.1.4. Processed Food Products
11.3.1.5. Soups and Sauces
11.3.1.6. Others
11.3.2. Textile Industry
11.3.3. Paper Industry
11.3.4. Pharmaceutical Industry
11.3.5. Cosmetics Industry
11.3.6. Animal Feed Industry
11.3.7. Others
11.4. Market Attractiveness Analysis By Application
12. Market Structure Analysis
12.1. Market Analysis by Tier of Companies (Starch Derivatives)
12.2. Market Share Analysis of Top Players
12.3. Market Presence Analysis
13. Competition Analysis
13.1. Competition Dashboard
13.2. Competition Deep Dive
13.2.1. Archer Daniels Midland Company (ADM)
13.2.1.1. Overview
13.2.1.2. Product Portfolio
13.2.1.3. Profitability by Market Segments (Product/Channel/Region)
13.2.1.4. Sales Footprint
13.2.1.5. Strategy Overview
13.2.2. Asia Modified Starch Co., Ltd.
13.2.2.1. Overview
13.2.2.2. Product Portfolio
13.2.2.3. Profitability by Market Segments (Product/Channel/Region)
13.2.2.4. Sales Footprint
13.2.2.5. Strategy Overview
13.2.3. Banpong Tapioca
13.2.3.1. Overview
13.2.3.2. Product Portfolio
13.2.3.3. Profitability by Market Segments (Product/Channel/Region)
13.2.3.4. Sales Footprint
13.2.3.5. Strategy Overview
13.2.4. BS Starch Chemical Co., Ltd.
13.2.4.1. Overview
13.2.4.2. Product Portfolio
13.2.4.3. Profitability by Market Segments (Product/Channel/Region)
13.2.4.4. Sales Footprint
13.2.4.5. Strategy Overview
13.2.5. Cargill
13.2.5.1. Overview
13.2.5.2. Product Portfolio
13.2.5.3. Profitability by Market Segments (Product/Channel/Region)
13.2.5.4. Sales Footprint
13.2.5.5. Strategy Overview
13.2.6. Daesang Corporation
13.2.6.1. Overview
13.2.6.2. Product Portfolio
13.2.6.3. Profitability by Market Segments (Product/Channel/Region)
13.2.6.4. Sales Footprint
13.2.6.5. Strategy Overview
13.2.7. Ingredion
13.2.7.1. Overview
13.2.7.2. Product Portfolio
13.2.7.3. Profitability by Market Segments (Product/Channel/Region)
13.2.7.4. Sales Footprint
13.2.7.5. Strategy Overview
13.2.8. Lamsan Inc.
13.2.8.1. Overview
13.2.8.2. Product Portfolio
13.2.8.3. Profitability by Market Segments (Product/Channel/Region)
13.2.8.4. Sales Footprint
13.2.8.5. Strategy Overview
13.2.9. Roquette Frères
13.2.9.1. Overview
13.2.9.2. Product Portfolio
13.2.9.3. Profitability by Market Segments (Product/Channel/Region)
13.2.9.4. Sales Footprint
13.2.9.5. Strategy Overview
13.2.10. Sonish Starch
13.2.10.1. Overview
13.2.10.2. Product Portfolio
13.2.10.3. Profitability by Market Segments (Product/Channel/Region)
13.2.10.4. Sales Footprint
13.2.10.5. Strategy Overview
13.2.11. Starch Asia
13.2.11.1. Overview
13.2.11.2. Product Portfolio
13.2.11.3. Profitability by Market Segments (Product/Channel/Region)
13.2.11.4. Sales Footprint
13.2.11.5. Strategy Overview
13.2.12. STARPRO
13.2.12.1. Overview
13.2.12.2. Product Portfolio
13.2.12.3. Profitability by Market Segments (Product/Channel/Region)
13.2.12.4. Sales Footprint
13.2.12.5. Strategy Overview
13.2.13. Taiwan Fructose Co., Ltd
13.2.13.1. Overview
13.2.13.2. Product Portfolio
13.2.13.3. Profitability by Market Segments (Product/Channel/Region)
13.2.13.4. Sales Footprint
13.2.13.5. Strategy Overview
13.2.14. Vedan VietNam Enterprise Co., Ltd
13.2.14.1. Overview
13.2.14.2. Product Portfolio
13.2.14.3. Profitability by Market Segments (Product/Channel/Region)
13.2.14.4. Sales Footprint
13.2.14.5. Strategy Overview
13.2.15. Versa Group Philippines Corporation
13.2.15.1. Overview
13.2.15.2. Product Portfolio
13.2.15.3. Profitability by Market Segments (Product/Channel/Region)
13.2.15.4. Sales Footprint
13.2.15.5. Strategy Overview
13.2.16. Others (as per additional request)
13.2.16.1. Overview
13.2.16.2. Product Portfolio
13.2.16.3. Profitability by Market Segments (Product/Channel/Region)
13.2.16.4. Sales Footprint
13.2.16.5. Strategy Overview
14. Assumptions and Acronyms Used
15. Research Methodology
List of Tables
Table 01: Philippines Starch Derivatives Market Value (US$ Mn) Analysis and Forecast by Product Type, 2019-2034
Table 02: Philippines Starch Derivatives Volume (Tons) Analysis and Forecast by Product Type, 2019-2034
Table 03: Philippines Starch Derivatives Market Value (US$ Mn) Analysis and Forecast by Source, 2019-2034
Table 04: Philippines Starch Derivatives Market Volume (Tons) Analysis and Forecast by Source, 2019-2034
Table 05: Philippines Starch Derivatives Market Value (US$ Mn) Analysis and Forecast by Application, 2019-2034
Table 06: Philippines Starch Derivatives Market Volume (Tons) Analysis and Forecast by Application, 2019-2034
Table 07: Philippines Starch Derivatives Market Value (US$ Mn) Analysis and Forecast by Food Industry, 2019-2034
Table 08: Philippines Starch Derivatives Market Volume (Tons) Analysis and Forecast by Food Industry, 2019-2034
List of Figures
Figure 01: Philippines Starch Derivative Market Value (US$ Mn) Forecast, 2024-2034
Figure 02: Philippines Starch Derivative Market Volume (Tons) Forecast, 2024-2034
Figure 03: Philippines Starch Derivatives Market Value Share Analysis by Product Type, 2023 E
Figure 04: Philippines Starch Derivatives Market Y-o-Y Growth Rate by Product Type, 2024-2034
Figure 05: Philippines Starch Derivatives Market Value (US$ Mn) Analysis & Forecast by Product Type, 2024-2034
Figure 06: Philippines Starch Derivatives Market Volume (Tons) Analysis & Forecast by Product Type, 2024-2034
Figure 07: Philippines Starch Derivatives Market Value Share Analysis by Source, 2023 E
Figure 08: Philippines Starch Derivatives Market Y-o-Y Growth Rate by Source, 2024-2034
Figure 09: Philippines Starch Derivatives Market Value (US$ Mn) Analysis & Forecast by Source, 2024-2034
Figure 10: Philippines Starch Derivatives Market Volume (Tons) Analysis & Forecast by Source, 2024-2034
Figure 11: Philippines Starch Derivatives Market Value Share Analysis by Application, 2023 E
Figure 12: Philippines Starch Derivatives Market Y-o-Y Growth Rate by Application, 2024-2034
Figure 13: Philippines Starch Derivatives Market Value (US$ Mn) Analysis & Forecast by Application, 2024-2034
Figure 14: Philippines Starch Derivatives Market Volume (Tons) Analysis & Forecast by Application, 2024-2034
Figure 15: Philippines Starch Derivatives Market Attractiveness Analysis by Product Type, 2024-2034
Figure 16: Philippines Starch Derivatives Market Attractiveness Analysis by Source, 2024-2034
Figure 17: Philippines Starch Derivatives Market Attractiveness Analysis by Application, 2024-2034
Copyright © Transparency Market Research, Inc. All Rights reserved
Trust Online
Philippines Starch Derivatives Market
