The Asia Pacific wheat starch market accounted for US$ 490.15 million in 2019, and is expected to reach US$ 589.62 million by 2027, it is estimated to grow at a CAGR of 2.6% during 2020–2027.
Wheat starch is obtained by wet milling of wheat flour, most preferably that from softer grade wheat. Wheat starch is derived from the processed endosperm of wheat. It is obtained by removing the protein from wheat flour. It has an appearance similar to that of a corn starch or flour. Wheat starch has become one of the vital parts of the food & beverages industry. It forms an essential ingredient used in the preparation of various food products due to its superior gelling, stabilizing and thickening properties. When used in food, wheat starch assists with texture, viscosity, gel formulation, binding and moisture retention. It is mainly employed as a thickening agent in the food industry. Wheat starch thickens the food through retrogradation and gelatinization. It is commonly used in sweeteners, such as glucose syrup, maltodextrin, and dextrose. It is employed as a stabilizer for sauces and puddings. Besides these, wheat starch is a type of starch that is believed to offer certain health benefits. It is considered to be a sugar substitute which helps in maintaing the insulin level in a human body. Wheat starch is extremely fibrous and tends to enhance the calories in the body. It also acts as a fat cutter which supports the demand for wheat starch amongst the fat conscious people.
Based on type, the Asia Pacific wheat starch market is segmented into native wheat starch and modified wheat starch. In 2019, the native wheat starch segment dominated the market. The modified wheat starch segment is projected to register the highest CAGR during the forecast period. Native wheat starch is a carbohydrate obtained from wheat. It is physically extracted from wheat, which separates gluten and other proteins. Native wheat starch is also a plant-based component used in foods extracted from wheat. It is a white to off-white powder with a neutral smell and taste. Native wheat starch is used in a variety of foods. For instance, it is used to thicken custards, cookies, sauces, and instant foods. Furthermore, it can be used for binding and moisture retention as an emulsifier, a stabilizer, and a clouding and glazing agent. Moreover, it is used in sugar confectionery, bakery and snacks, dairy products (such as cheese), alcoholic beverages, sauces and soups, pasta, ready meals, and meat and seafood (such as surimi).
The wheat starch market in Asia Pacific is segmented into Australia, China, India, Japan, South Korea and rest of Asia Pacific. Transforming lifestyle trends concerning the food & beverages and consumer goods industry have had a noteworthy influence on the wheat starch market in Asia Pacific. The market is witnessing growth owing to the presence of well-established players, such as Roquette Frères, Cargill Incorporated, and Archer Daniels Midland Company, in this region. The easy availability of this ingredient, as well as raw material for the production of wheat starch, further bolsters the market growth. China dominated the Asia Pacific wheat starch market in 2019 and is projected to lead the market over the forecast period. The largest share of China is mainly attributed to increasing companies’ spending on the development of innovative wheat starch products and the well-established food and beverage sector in the country. The Asia-Pacific market for wheat starch has been rising on account of advancements in the food and beverages industry across the region. Wheat starch is also preferred for laundry sizing as it produces a stiffer finish at a lower temperature than corn starch. Wheat starch is preferred for baked goods because no chemicals are used in its production. Modified wheat starches can have superior emulsifying properties over other starches when used in some food products. Wheat starch is a by-product of vital gluten manufacture but is also isolated from wheat flour in its own right. Factors such as increasing the use of wheat starch by the residential and HORECA sector is driving the demand in the Asia-Pacific region. Over the years, the manufacturing spending towards the developments of food, beverage, and industry has grown significantly and is further expected to grow at a high rate. Rising foreign direct investments also lead to economic growth in the region. India, Japan, and China are amongst the major markets for wheat starch in the Asia Pacific region.
Cargill Incorporated, Roquette Freres, The Archer-Daniels-Midland Company, Agrana Group, Tereos SA, and Malindra Group are among the major players operating in the Asia Pacific wheat starch market.
The COVID-19 outbreak started in Wuhan, China, in December 2019. As of February 2021, India, Japan, Malaysia, China and Australia are among the worst-affected countries in the region in terms of COVID-19 confirmed cases and reported deaths. The pandemic is hindering economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdowns in the food & beverages industry and disruptions in supply chains are limiting supplies of various products. India has the highest number of confirmed cases across Asia Pacific. The shutdown of many food processing plants during lockdown is restraining the growth of the wheat starch market in Asia Pacific.
The overall Asia Pacific wheat starch market size has been derived in accordance to both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants and commentators to validate data, as well as to gain more analytical insights into the topic. The participants who typically involved in the process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the Asia Pacific wheat starch market.