Shifting consumer preference for healthy food has increased the market for naturally-sourced and less processed ingredients. Growing demand for clean label ingredients in high-potential markets is attributed to high disposable income of consumers and willingness to pay extra for premium products. Over the next ten years (2020 to 2030), the global clean label starch market is projected to expand at a healthy CAGR of close to 6%.
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With consumers on the “health comes first” spree, the food and beverage sector is into the immunity-centric mode. Along these lines, ingredients boasting of immunity claims like probiotics, moringa, turmeric, and elderberries are expected to rule the food and beverages market between 2021 and 2031. The other factor to be ponder about would be tech-enabled transparency i.e. rising interest of the consumers in the origin of foods they are ordering. Inclination towards plant-based products is another trend catching up.
On these grounds, elevated flavors that are being perceived as “healthy” are in demand. They could be fruits and berries, moringa, butterfly-pea flower. Additionally, with Gene-editing making its way into the vertical, customized vegetables and fruits could be obtained. Persistence Market, with its line of expertise in the form of analysts and consultants, has its market study/studies tabled regarding the facets of food & beverage industry along with the probable calls to action on the part of key stakeholders.
Key Takeaways from Market Study
- By source, corn is estimated to have the largest market value share of around 53% in 2020, and is expected to reach a valuation of US$ 1.1 Bn by the end of 2030.
- In term of application, the food industry is projected to experience significant growth during the forecast period, and hold a market share more than 70% in 2030.
- Europe is dominating the global market with around 40% of the value share. High demand for clean label starch in the region is attributed to high spending power of consumers for premium products
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Market Competition
Market players involved in clean label starch production and distribution are focused on expanding their business and generating higher revenue through acquisitions and mergers with other regional players. Food manufacturers are increasingly including clean label ingredients for the production of various food products to cater growing demand from consumers. Manufacturers are investing in research & development of new variants of clean label starches derived from various sources.
- In 2020, Ingredion Incorporated added NOVATION Lumina – a functional native starch for application in ready meals, soups & sauces, yogurts, and puddings.
- In April 2019, Ingredion Incorporated launched new products in the clean labels starch product line.
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