1 INTRODUCTION 26
1.1 OBJECTIVES OF THE STUDY 26
1.2 MARKET DEFINITION 26
1.3 STUDY SCOPE 27
FIGURE 1 MARKET SEGMENTATION 27
1.4 REGIONS COVERED 28
1.5 PERIODIZATION CONSIDERED 28
1.6 CURRENCY CONSIDERED 29
1.7 VOLUME UNIT CONSIDERED 29
TABLE 1 USD EXCHANGE RATES CONSIDERED, 2017-2019 29
1.8 STAKEHOLDERS 30
1.9 SUMMARY OF CHANGES 30

2 RESEARCH METHODOLOGY 32
2.1 RESEARCH DATA 32
FIGURE 2 MODIFIED STARCH MARKET: RESEARCH DESIGN 32
FIGURE 3 KEY DATA FROM PRIMARY SOURCES 33
2.2 MARKET SIZE ESTIMATION 34
2.2.1 APPROACH ONE (BASED ON RAW MATERIAL, BY REGION) 34
2.2.2 APPROACH TWO (BASED ON GLOBAL MARKET) 35
2.3 DATA TRIANGULATION 36
FIGURE 4 DATA TRIANGULATION METHODOLOGY 36
2.4 ASSUMPTIONS FOR THE STUDY 37
2.5 LIMITATIONS OF THE STUDY 38
2.6 SCENARIO-BASED MODELING 38
2.7 INTRODUCTION TO COVID-19 38
2.8 COVID-19 HEALTH ASSESSMENT 39
FIGURE 5 COVID-19: THE GLOBAL PROPAGATION 39
FIGURE 6 COVID-19 PROPAGATION: SELECT COUNTRIES 40
2.9 COVID-19 ECONOMIC ASSESSMENT 41
FIGURE 7 REVISED GROSS DOMESTIC PRODUCT FORECASTS FOR SELECT G20 COUNTRIES IN 2020 41
2.9.1 COVID-19 ECONOMIC IMPACT—SCENARIO ASSESSMENT 42
FIGURE 8 FACTORS IMPACTING GLOBAL ECONOMY 42
FIGURE 9 SCENARIOS IN TERMS OF RECOVERY OF GLOBAL ECONOMY 43

3 EXECUTIVE SUMMARY 45
TABLE 2 MODIFIED STARCH MARKET SHARE SNAPSHOT, 2020 VS. 2025, BY VOLUME 46
FIGURE 10 IMPACT OF COVID-19 ON MODIFIED STARCH MARKET SIZE, BY SCENARIO, 2020-2021 (USD MILLION) 46
FIGURE 11 MODIFIED STARCH MARKET, BY RAW MATERIAL,

2020 VS. 2025 (USD MILLION) 47
FIGURE 12 MODIFIED STARCH MARKET, BY APPLICATION,

2020 VS. 2025 (USD MILLION) 47
FIGURE 13 MODIFIED STARCH MARKET, BY FOOD & BEVERAGE SUB-APPLICATION, 2020 VS. 2025 (USD MILLION) 48
FIGURE 14 MODIFIED STARCH MARKET, BY FORM, 2020 VS. 2025 (USD MILLION) 48
FIGURE 15 MODIFIED STARCH MARKET SHARE (VALUE), BY REGION, 2019 49

4 PREMIUM INSIGHTS 50
4.1 ATTRACTIVE OPPORTUNITIES IN THE MODIFIED STARCH MARKET 50
FIGURE 16 GROWING DEMAND FOR PROCESSED AND CONVENIENCE FOOD IS EXPECTED TO PROPEL THE MARKET FOR MODIFIED STARCH 50
4.2 MODIFIED STARCH MARKET: MAJOR REGIONAL SUBMARKETS 51
FIGURE 17 ASIA PACIFIC WAS THE LARGEST MARKET GLOBALLY FOR MODIFIED STARCH IN 2019 51
4.3 ASIA PACIFIC: MODIFIED STARCH MARKET, BY KEY RAW MATERIAL & COUNTRY 52
FIGURE 18 CHINA ACCOUNTED FOR THE LARGEST SHARE IN THE ASIA PACIFIC MARKET IN 2019 52
4.4 MODIFIED STARCH MARKET, BY RAW MATERIAL & REGION 53
FIGURE 19 ASIA PACIFIC IS PROJECTED TO DOMINATE THE MARKET FOR MODIFIED STARCH DURING THE FORECAST PERIOD 53
4.5 MODIFIED STARCH MARKET, BY APPLICATION 54
FIGURE 20 THE FOOD & BEVERAGES SEGMENT IS PROJECTED TO DOMINATE THE MODIFIED STARCH MARKET DURING THE FORECAST PERIOD 54
4.6 MODIFIED STARCH MARKET, BY FORM 54
FIGURE 21 ASIA PACIFIC DOMINATED BOTH FORMS OF MODIFIED STARCH IN 2019 54
FIGURE 22 COVID-19 IMPACT ON THE MODIFIED STARCH MARKET COMPARISON OF PRE- AND POST-COVID-19 SCENARIOS 55

5 MARKET OVERVIEW 56
5.1 INTRODUCTION 56
5.2 MARKET DYNAMICS 57
FIGURE 23 MODIFIED STARCH MARKET DYNAMICS 57
5.2.1 DRIVERS 57
5.2.1.1 Rising demand for processed and convenience food 57
FIGURE 24 CONSUMER PREFERENCE TOWARD THE FOOD PROCESSING INDUSTRY 58
5.2.1.2 Functional properties of modified starch and their ease of incorporation in a wide range of food applications 59
TABLE 3 RESEARCH CONDUCTED ON THE PHYSICAL MODIFICATION OF STARCH 60
5.2.1.3 Growing demand for adhesives in a range of industrial applications 60
5.2.1.4 Increase in research & development activities to develop innovative products 61
5.2.2 RESTRAINTS 61
5.2.2.1 Limited sources and high cost of natural additives 61
FIGURE 25 CASSAVA PRICE TRENDS, 2013-2018 (USD/TONNES) 62
FIGURE 26 US CORN PRICES, 2013-2019 (USD/BUSHELS) 62
5.2.2.2 Growing gum Arabic market 63
5.2.3 OPPORTUNITIES 63
5.2.3.1 Potential alternative sources of modified starch 63
5.2.3.2 Untapped application of modified starch 63
5.2.4 CHALLENGES 64
5.2.4.1 Approval from various regulatory bodies 64
5.2.4.2 Rising cost of raw materials 64
5.3 COVID-19 IMPACT ON MODIFIED STARCH MARKET 64
5.4 GLOBAL AVERAGE PRICE OF MODIFIED STARCH, BY RAW MATERIAL (USD/TONS) 65
5.5 VALUE CHAIN 65
FIGURE 27 MODIFIED STARCH MARKET: VALUE CHAIN 66
5.6 SUPPLY CHAIN 66
FIGURE 28 MODIFIED STARCH MARKET: SUPPLY CHAIN 67
5.7 ECOSYSTEM/MARKET MAP FOR FOOD & BEVERAGES 68
FIGURE 29 ECOSYSTEM VIEW 68
FIGURE 30 MARKET MAP 69
5.8 KEY MARKET FOR IMPORT/ EXPORT 69
5.8.1 CORN STARCH 69
TABLE 4 TOP 10 EXPORTERS AND IMPORTERS OF CORN STARCH, 2018 (KT) 69
5.8.2 CASSAVA STARCH 70
TABLE 5 TOP 10 EXPORTERS AND IMPORTERS OF CASSAVA STARCH, 2018 (KT) 70
5.8.3 POTATO STARCH 70
TABLE 6 TOP 10 EXPORTERS AND IMPORTERS OF POTATO STARCH, 2018 (KT) 70
5.8.4 WHEAT STARCH 71
TABLE 7 TOP 10 EXPORTERS AND IMPORTERS OF WHEAT STARCH, 2018 (KT) 71
5.9 YC SHIFT 71
FIGURE 31 YC & YCC SHIFT FOR THE MODIFIED STARCH MARKET 71

6 REGULATORY FRAMEWORK 72
6.1 INTRODUCTION 72
6.2 FOOD AND DRUG ADMINISTRATION 72

7 MODIFIED STARCH MARKET, BY FUNCTION 75
7.1 INTRODUCTION 75
7.2 THICKENERS 75
7.3 STABILIZERS 76
7.4 BINDERS 76
7.5 EMULSIFIERS 76
7.6 OTHER FUNCTIONS 77

8 MODIFIED STARCH MARKET, BY MODIFICATION TYPE 78
8.1 INTRODUCTION 78
8.2 PHYSICAL MODIFICATION 78
TABLE 8 RESEARCH ON THE PHYSICAL MODIFICATION OF STARCH 79
8.2.1 HYDROTHERMAL 79
8.2.2 NON-HYDROTHERMAL 80
8.3 CHEMICAL MODIFICATION 80
TABLE 9 CHEMICAL MODIFICATION OF STARCH 80
8.3.1 CATIONIC STARCH 81
8.3.2 ETHERIFIED STARCH 82
TABLE 10 ETHERIFIED STARCH IN FOOD APPLICATIONS 82
8.3.3 ESTERIFIED STARCH 83
8.4 ENZYMATIC MODIFICATION 84

9 MODIFIED STARCH MARKET, BY RAW MATERIAL 85
9.1 INTRODUCTION 86
FIGURE 32 CORN PROJECTED TO DOMINATE THE MARKET FROM

2020 TO 2025 (USD MILLION) 86
TABLE 11 MODIFIED STARCH MARKET SIZE, BY RAW MATERIAL,
2018-2025 (USD MILLION) 87
TABLE 12 MODIFIED STARCH MARKET SIZE, BY RAW MATERIAL, 2018-2025 (KT) 87
9.1.1 COVID-19 IMPACT ON THE MODIFIED STARCH MARKET, BY RAW MATERIAL 88
9.1.1.1 Optimistic scenario 88
TABLE 13 OPTIMISTIC SCENARIO: MODIFIED STARCH MARKET SIZE, BY RAW MATERIAL, 2018-2021 (USD MILLION) 88
9.1.1.2 Realistic scenario 88
TABLE 14 REALISTIC SCENARIO: MODIFIED STARCH MARKET SIZE, BY RAW MATERIAL, 2018-2021 (USD MILLION) 88
9.1.1.3 Pessimistic scenario 89
TABLE 15 PESSIMISTIC SCENARIO: MODIFIED STARCH MARKET SIZE,
BY RAW MATERIAL, 2018-2021 (USD MILLION) 89
9.2 CORN 89
9.2.1 CORN STARCH IS AN EASY PROCESSOR WHICH MAKES IT THE MOST DESIRED MODIFIED STARCH 89
FIGURE 33 ASIA PACIFIC TO ACCOUNT FOR THE LARGEST SHARE IN THE CORN SEGMENT, 2020-2025 (USD MILLION) 90
TABLE 16 MODIFIED CORN STARCH MARKET SIZE, BY REGION,
2018-2025 (USD MILLION) 90
TABLE 17 MODIFIED CORN STARCH MARKET SIZE, BY REGION, 2018-2025 (KT) 90
9.3 CASSAVA 91
9.3.1 DUE TO ITS FUNCTIONAL PROPERTIES, CASSAVA MODIFIED STARCH IS GROWING AT A SIGNIFICANT GROWTH RATES 91
TABLE 18 MODIFIED CASSAVA STARCH MARKET SIZE, BY REGION,
2018-2025 (USD MILLION) 91
TABLE 19 MODIFIED CASSAVA STARCH MARKET SIZE, BY REGION, 2018-2025 (KT) 91
9.4 POTATO 92
9.4.1 POTATO STARCH FINDS ITS APPLICATION MAJORLY IN THE EUROPEAN MARKET 92
TABLE 20 MODIFIED POTATO STARCH MARKET SIZE, BY REGION,
2018-2025 (USD MILLION) 92
TABLE 21 MODIFIED POTATO STARCH MARKET SIZE, BY REGION, 2018-2025 (KT) 92
9.5 WHEAT 93
9.5.1 WHEAT MODIFIED STARCH IS GAINING POPULARITY OWING TO ITS THICKENING AND BLENDING PROPERTIES 93
TABLE 22 MODIFIED WHEAT STARCH MARKET SIZE, BY REGION,
2018-2025 (USD MILLION) 93
TABLE 23 MODIFIED WHEAT STARCH MARKET SIZE, BY REGION, 2018-2025 (KT) 93
9.6 OTHER RAW MATERIALS 94
9.6.1 INCREASING REQUIREMENT FROM APPLICATION INDUSTRIES 94
TABLE 24 OTHER RAW MATERIALS MARKET SIZE, BY REGION,
2018-2025 (USD MILLION) 94
TABLE 25 OTHER RAW MATERIALS MARKET SIZE, BY REGION, 2018-2025 (KT) 94

10 MODIFIED STARCH MARKET, BY APPLICATION 95
10.1 INTRODUCTION 96
FIGURE 34 FOOD & BEVERAGES SEGMENT PROJECTED TO DOMINATE THE MARKET FROM 2020 TO 2025 (USD MILLION) 96
TABLE 26 MODIFIED STARCH MARKET SIZE, BY APPLICATION,
2018-2025 (USD MILLION) 97
10.1.1 COVID-19 IMPACT ON THE MODIFIED STARCH MARKET, BY APPLICATION 97
10.1.1.1 Optimistic scenario 97
TABLE 27 OPTIMISTIC SCENARIO: MODIFIED STARCH MARKET SIZE, BY APPLICATION, 2018-2021 (USD MILLION) 97
10.1.1.2 Realistic scenario 97
TABLE 28 REALISTIC SCENARIO: MODIFIED STARCH MARKET SIZE, BY APPLICATION, 2018-2021 (USD MILLION) 97
10.1.1.3 Pessimistic scenario 98
TABLE 29 PESSIMISTIC SCENARIO: MODIFIED STARCH MARKET SIZE, BY APPLICATION, 2018-2021 (USD MILLION) 98
10.2 FOOD & BEVERAGES 98
FIGURE 35 BAKERY & CONFECTIONERY PRODUCTS TO DOMINATE THE MODIFIED STARCH MARKET IN THE FOOD & BEVERAGE INDUSTRY THROUGHOUT 2025 99
TABLE 30 MODIFIED STARCH MARKET SIZE IN FOOD & BEVERAGES, BY SUB-APPLICATION, 2018-2025 (USD MILLION) 99
TABLE 31 FOOD & BEVERAGES MARKET SIZE, BY REGION, 2018-2025 (USD MILLION) 100
10.2.1 BAKERY & CONFECTIONERY PRODUCTS 100
10.2.1.1 Modified starch improves the texture and quality of bakery products 100
TABLE 32 MODIFIED STARCH MARKET SIZE IN BAKERY & CONFECTIONERY PRODUCTS, BY REGION, 2018-2025 (USD MILLION) 100
10.2.2 PROCESSED FOODS 101
10.2.2.1 Modified starch acts as a stabilizer and provide freeze-thaw ability to processed foods 101
TABLE 33 MODIFIED STARCH MARKET SIZE IN PROCESSED FOODS, BY REGION, 2018-2025 (USD MILLION) 101
10.2.3 BEVERAGES 101
10.2.3.1 Starches stabilizing beverages and providing them with viscosity for mouthfeel 101
TABLE 34 MODIFIED STARCH MARKET SIZE IN BEVERAGES, BY REGION,
2018-2025 (USD MILLION) 102
10.2.4 OTHER FOOD APPLICATIONS 102
10.2.4.1 They provide crispiness to snacks and cereals 102
TABLE 35 MODIFIED STARCH MARKET SIZE IN OTHER FOOD APPLICATIONS,
BY REGION, 2018-2025 (USD MILLION) 102
10.3 FEED 102
TABLE 36 MODIFIED STARCH MARKET SIZE IN FEED, BY SUB-APPLICATION,
2018-2025 (USD MILLION) 103
TABLE 37 MODIFIED STARCH MARKET SIZE IN FEED, BY REGION,
2018-2025 (USD MILLION) 103
10.3.1 SWINE FEED 103
10.3.1.1 Starch improving digestibility 103
10.3.2 RUMINANT FEED 103
10.3.2.1 Starch - a source of carbohydrates to help ruminants gain weight 103
10.3.3 POULTRY FEED 104
10.3.3.1 Starch: an important source of nutrients in poultry diets 104
10.3.4 OTHER FEED APPLICATIONS 104
10.3.4.1 Use of Cassava starch in aqua and rabbit feed 104
10.4 INDUSTRIAL 104
TABLE 38 MODIFIED STARCH MARKET SIZE IN INDUSTRIAL APPLICATIONS,
BY SUB-APPLICATION, 2018-2025 (USD MILLION) 104
TABLE 39 MODIFIED STARCH MARKET SIZE IN INDUSTRIAL APPLICATIONS,
BY REGION, 2018-2025 (USD MILLION) 105
10.4.1 PAPERMAKING 105
10.4.1.1 Modified starch provides internal strength to paper 105
TABLE 40 MODIFIED STARCH MARKET SIZE IN PAPERMAKING, BY REGION,
2018-2025 (USD MILLION) 105
10.4.2 WEAVING & TEXTILES 106
10.4.2.1 Starch provides a good appearance to the fabric 106
TABLE 41 MODIFIED STARCH MARKET SIZE IN WEAVING & TEXTILES, BY REGION, 2018-2025 (USD MILLION) 106
10.4.3 MEDICINES & PHARMACEUTICALS 106
10.4.3.1 Modified starch performs important functions in various pharmaceutical applications 106
TABLE 42 MODIFIED STARCH MARKET SIZE IN MEDICINES & PHARMACEUTICALS,
BY REGION, 2018-2025 (USD MILLION) 107
10.4.4 COSMETICS 107
10.4.4.1 Modified starch providing smoothness to cosmetics 107
TABLE 43 MODIFIED STARCH MARKET SIZE IN COSMETICS, BY REGION,
2018-2025 (USD MILLION) 107
10.4.5 OTHER INDUSTRIAL APPLICATIONS 108
10.4.5.1 Starch improving the quality of corrugated cardboard 108
TABLE 44 MODIFIED STARCH MARKET SIZE IN OTHER INDUSTRIAL APPLICATIONS,
BY REGION, 2018-2025 (USD MILLION) 108

11 MODIFIED STARCH MARKET, BY FORM 109
11.1 INTRODUCTION 110
FIGURE 36 DRY FORM DOMINATED THE MARKET IN 2019 110
TABLE 45 MODIFIED STARCH MARKET SIZE, BY FORM, 2018-2025 (USD MILLION) 110
11.1.1 COVID-19 IMPACT ON THE MODIFIED STARCH MARKET, BY FORM 111
11.1.1.1 Optimistic scenario 111
TABLE 46 OPTIMISTIC SCENARIO: MODIFIED STARCH MARKET SIZE, BY FORM,
2018-2021 (USD MILLION) 111
11.1.1.2 Realistic scenario 111
TABLE 47 REALISTIC SCENARIO: MODIFIED STARCH MARKET SIZE, BY FORM,
2018-2021 (USD MILLION) 111
11.1.1.3 Pessimistic scenario 111
TABLE 48 PESSIMISTIC SCENARIO: MODIFIED STARCH MARKET SIZE, BY FORM, 2018-2021 (USD MILLION) 111
11.2 DRY 112
11.2.1 DRY FORM OF MODIFIED STARCH IS CONVENIENT TO USE 112
TABLE 49 DRY MODIFIED STARCH MARKET SIZE, BY REGION,
2018-2025 (USD MILLION) 112
11.3 LIQUID 112
11.3.1 LIQUID FORM OF MODIFIED STARCH UNDERGOES VARIOUS COMPLEX PROCESSES 112
TABLE 50 LIQUID MODIFIED STARCH MARKET SIZE, BY REGION,
2018-2025 (USD MILLION) 113

12 MODIFIED STARCH MARKET, BY REGION 114
12.1 INTRODUCTION 115
12.2 AVERAGE PRICE OF MODIFIED STARCH, BY REGION (USD/TON) 115
FIGURE 37 REGIONAL SNAPSHOT: NEW HOTSPOTS TO EMERGE IN ASIA PACIFIC,
2020-2025 116
TABLE 51 MODIFIED STARCH MARKET SIZE, BY REGION, 2018-2025 (USD MILLION) 116
TABLE 52 MODIFIED STARCH MARKET SIZE, BY REGION, 2018-2025 (KT) 117
12.2.1 COVID-19 IMPACT ON THE MODIFIED STARCH MARKET, BY REGION 117
12.2.1.1 Optimistic scenario 117
TABLE 53 OPTIMISTIC SCENARIO: MODIFIED STARCH MARKET SIZE, BY REGION, 2018-2021 (USD MILLION) 117
12.2.1.2 Realistic scenario 117
TABLE 54 REALISTIC SCENARIO: MODIFIED STARCH MARKET SIZE, BY REGION,
2018-2021 (USD MILLION) 117
12.2.1.3 Pessimistic scenario 118
TABLE 55 PESSIMISTIC SCENARIO: MODIFIED STARCH MARKET SIZE, BY REGION, 2018-2021 (USD MILLION) 118
12.3 NORTH AMERICA 118
FIGURE 38 NORTH AMERICA: MODIFIED STARCH MARKET SNAPSHOT 119
TABLE 56 NORTH AMERICA: MODIFIED STARCH MARKET SIZE, BY COUNTRY,
2018-2025 (USD MILLION) 119
TABLE 57 NORTH AMERICA: MODIFIED STARCH MARKET SIZE, BY COUNTRY,
2018-2025 (KT) 120
TABLE 58 NORTH AMERICA: MODIFIED STARCH MARKET SIZE, BY RAW MATERIAL, 2018-2025 (USD MILLION) 120
TABLE 59 NORTH AMERICA: MODIFIED STARCH MARKET SIZE, BY RAW MATERIAL, 2018-2025 (KT) 120
TABLE 60 NORTH AMERICA: MODIFIED STARCH MARKET SIZE, BY APPLICATION, 2018-2025 (USD MILLION) 121
TABLE 61 NORTH AMERICA: MODIFIED STARCH MARKET SIZE IN FOOD & BEVERAGES, BY SUB-APPLICATION, 2018-2025 (USD MILLION) 121
TABLE 62 NORTH AMERICA: MODIFIED STARCH MARKET SIZE IN INDUSTRIAL APPLICATIONS, BY SUB-APPLICATION, 2018-2025 (USD MILLION) 121
TABLE 63 NORTH AMERICA: MODIFIED STARCH MARKET SIZE, BY FORM,
2018-2025 (USD MILLION) 122
12.3.1 US 122
12.3.1.1 Corn is the major raw material used in the manufacturing of modified starch 122
TABLE 64 US: MODIFIED STARCH MARKET SIZE, BY RAW MATERIAL,
2018-2025 (USD MILLION) 122
12.3.2 CANADA 123
12.3.2.1 Government agencies are working toward incorporating modified starch in various industrial applications 123
TABLE 65 CANADA: MODIFIED STARCH MARKET SIZE, BY RAW MATERIAL,
2018-2025 (USD MILLION) 123
12.3.3 MEXICO 123
12.3.3.1 Growth in the paper & packaging industry demanding modified starch 123
TABLE 66 MEXICO: MODIFIED STARCH MARKET SIZE, BY RAW MATERIAL,
2018-2025 (USD MILLION) 124
12.4 EUROPE 124
TABLE 67 EUROPE: MODIFIED STARCH MARKET SIZE, BY COUNTRY,
2018-2025 (USD MILLION) 125
TABLE 68 EUROPE: MODIFIED STARCH MARKET SIZE, BY COUNTRY, 2018-2025 (KT) 125
TABLE 69 EUROPE: MODIFIED STARCH MARKET SIZE, BY RAW MATERIAL,
2018-2025 (USD MILLION) 125
TABLE 70 EUROPE: MODIFIED STARCH MARKET SIZE, BY RAW MATERIAL,
2018-2025 (KT) 126
TABLE 71 EUROPE: MODIFIED STARCH MARKET SIZE, BY APPLICATION,
2018-2025 (USD MILLION) 126
TABLE 72 EUROPE: MODIFIED STARCH MARKET SIZE IN FOOD & BEVERAGES,
BY SUB-APPLICATION, 2018-2025 (USD MILLION) 126
TABLE 73 EUROPE: MODIFIED STARCH MARKET SIZE IN INDUSTRIAL APPLICATIONS, BY SUB-APPLICATION, 2018-2025 (USD MILLION) 127
TABLE 74 EUROPE: MODIFIED STARCH MARKET SIZE, BY FORM,
2018-2025 (USD MILLION) 127
12.4.1 GERMANY 127
12.4.1.1 Increase in consumption of convenience food driving demand 127
TABLE 75 GERMANY: MODIFIED STARCH MARKET SIZE, BY RAW MATERIAL,
2018-2025 (USD MILLION) 128
12.4.2 FRANCE 128
12.4.2.1 High consumption of dairy products fueling the demand for modified starch 128
TABLE 76 FRANCE: MODIFIED STARCH MARKET SIZE, BY RAW MATERIAL,
2018-2025 (USD MILLION) 128
12.4.3 UK 129
12.4.3.1 Growth of the feed industry contributing to the modified starch market 129
TABLE 77 UK: MODIFIED STARCH MARKET SIZE, BY RAW MATERIAL,
2018-2025 (USD MILLION) 129
12.4.4 SPAIN 129
12.4.4.1 Developed food processing industry propelling the market growth 129
TABLE 78 SPAIN: MODIFIED STARCH MARKET SIZE, BY RAW MATERIAL,
2018-2025 (USD MILLION) 130
12.4.5 ITALY 130
12.4.5.1 Widespread baker & confectionery industry in the country to drive demand 130
TABLE 79 ITALY: MODIFIED STARCH MARKET SIZE, BY RAW MATERIAL,
2018-2025 (USD MILLION) 130
12.4.6 REST OF EUROPE 131
12.4.6.1 Growing industries will increase the demand for modified starch 131
TABLE 80 REST OF EUROPE: MODIFIED STARCH MARKET SIZE, BY RAW MATERIAL, 2018-2025 (USD MILLION) 131
12.5 ASIA PACIFIC 131
FIGURE 39 ASIA PACIFIC: MODIFIED STARCH MARKET SNAPSHOT 132
TABLE 81 ASIA PACIFIC: MODIFIED STARCH MARKET SIZE, BY COUNTRY,
2018-2025 (USD MILLION) 133
TABLE 82 ASIA PACIFIC: MODIFIED STARCH MARKET SIZE, BY COUNTRY,
2018-2025 (KT) 133
TABLE 83 ASIA PACIFIC: MODIFIED STARCH MARKET SIZE, BY RAW MATERIAL,
2018-2025 (USD MILLION) 133
TABLE 84 ASIA PACIFIC: MODIFIED STARCH MARKET SIZE, BY RAW MATERIAL,
2018-2025 (KT) 134
TABLE 85 ASIA PACIFIC: MODIFIED STARCH MARKET SIZE, BY APPLICATION,
2018-2025 (USD MILLION) 134
TABLE 86 ASIA PACIFIC: MODIFIED STARCH MARKET SIZE IN FOOD & BEVERAGES,
BY SUB-APPLICATION, 2018-2025 (USD MILLION) 134
TABLE 87 ASIA PACIFIC: MODIFIED STARCH MARKET SIZE IN INDUSTRIAL APPLICATIONS, BY SUB-APPLICATION, 2018-2025 (USD MILLION) 135
TABLE 88 ASIA PACIFIC: MODIFIED STARCH MARKET SIZE, BY FORM,
2018-2025 (USD MILLION) 135
12.5.1 CHINA 135
12.5.1.1 The country dominating the Asia Pacific modified starch market 135
TABLE 89 CHINA: MODIFIED STARCH MARKET SIZE, BY RAW MATERIAL,
2018-2025 (USD MILLION) 136
12.5.2 JAPAN 136
12.5.2.1 Rise in the processed food industry in Japan driving the modified starch market 136
TABLE 90 JAPAN: MODIFIED STARCH MARKET SIZE, BY RAW MATERIAL,
2018-2025 (USD MILLION) 136
12.5.3 INDIA 137
12.5.3.1 The modified starch market is highly fragmented in India 137
TABLE 91 INDIA: MODIFIED STARCH MARKET SIZE, BY RAW MATERIAL,
2018-2025 (USD MILLION) 137
12.5.4 SOUTH KOREA 137
12.5.4.1 Growth in demand for packaged food is driving the demand for modified starch 137
TABLE 92 SOUTH KOREA: MODIFIED STARCH MARKET SIZE, BY RAW MATERIAL,
2018-2025 (USD MILLION) 138
12.5.5 THAILAND 138
12.5.5.1 Abundance of cassava as a raw material 138
TABLE 93 THAILAND: MODIFIED STARCH MARKET SIZE, BY RAW MATERIAL,
2018-2025 (USD MILLION) 138
12.5.6 REST OF ASIA PACIFIC 139
12.5.6.1 Growth in industries will increase the demand for modified starch 139
TABLE 94 REST OF ASIA PACIFIC: MODIFIED STARCH MARKET SIZE, BY RAW MATERIAL, 2018-2025 (USD MILLION) 139
12.6 SOUTH AMERICA 139
TABLE 95 SOUTH AMERICA: MODIFIED STARCH MARKET SIZE, BY COUNTRY,
2018-2025 (USD MILLION) 140
TABLE 96 SOUTH AMERICA: MODIFIED STARCH MARKET SIZE, BY COUNTRY,
2018-2025 (KT) 140
TABLE 97 SOUTH AMERICA: MODIFIED STARCH MARKET SIZE, BY RAW MATERIAL, 2018-2025 (USD MILLION) 140
TABLE 98 SOUTH AMERICA: MODIFIED STARCH MARKET SIZE, BY RAW MATERIAL, 2018-2025 (KT) 141
TABLE 99 SOUTH AMERICA: MODIFIED STARCH MARKET SIZE, BY APPLICATION, 2018-2025 (USD MILLION) 141
TABLE 100 SOUTH AMERICA: MODIFIED STARCH MARKET SIZE IN FOOD & BEVERAGES, BY SUB-APPLICATION, 2018-2025 (USD MILLION) 141
TABLE 101 SOUTH AMERICA: MODIFIED STARCH MARKET SIZE IN INDUSTRIAL APPLICATIONS, BY SUB-APPLICATION, 2018-2025 (USD MILLION) 142
TABLE 102 SOUTH AMERICA: MODIFIED STARCH MARKET SIZE, BY FORM,
2018-2025 (USD MILLION) 142
12.6.1 BRAZIL 142
12.6.1.1 High meat consumption in the country to drive the modified starch market 142
TABLE 103 BRAZIL: MODIFIED STARCH MARKET SIZE, BY RAW MATERIAL,
2018-2025 (USD MILLION) 143
12.6.2 ARGENTINA 143
12.6.2.1 Growing feed industry to increase the demand for modified starch 143
TABLE 104 ARGENTINA: MODIFIED STARCH MARKET SIZE, BY RAW MATERIAL,
2018-2025 (USD THOUSAND) 143
12.6.3 REST OF SOUTH AMERICA 144
12.6.3.1 Evolution of cassava starch production by MNCs 144
TABLE 105 REST OF SOUTH AMERICA: MODIFIED STARCH MARKET SIZE,
BY RAW MATERIAL, 2018-2025 (USD THOUSAND) 144
12.7 REST OF THE WORLD (ROW) 144
TABLE 106 ROW: MODIFIED STARCH MARKET SIZE, BY REGION,
2018-2025 (USD MILLION) 145
TABLE 107 ROW: MODIFIED STARCH MARKET SIZE, BY REGION, 2018-2025 (KT) 145
TABLE 108 ROW: MODIFIED STARCH MARKET SIZE, BY RAW MATERIAL,
2018-2025 (USD MILLION) 145
TABLE 109 ROW: MODIFIED STARCH MARKET SIZE, BY RAW MATERIAL, 2018-2025 (KT) 146
TABLE 110 ROW: MODIFIED STARCH MARKET SIZE, BY APPLICATION,
2018-2025 (USD MILLION) 146
TABLE 111 ROW: MODIFIED STARCH MARKET SIZE IN FOOD & BEVERAGES,
BY SUB-APPLICATION, 2018-2025 (USD MILLION) 146
TABLE 112 ROW: MODIFIED STARCH MARKET SIZE IN INDUSTRIAL APPLICATIONS,
BY SUB-APPLICATION, 2018-2025 (USD MILLION) 147
TABLE 113 ROW: MODIFIED STARCH MARKET SIZE, BY FORM,
2018-2025 (USD MILLION) 147
12.7.1 AFRICA 147
12.7.1.1 Increase in demand for food processing ingredients in the region 147
TABLE 114 AFRICA: MODIFIED STARCH MARKET SIZE, BY RAW MATERIAL,
2018-2025 (USD MILLION) 148
12.7.2 MIDDLE EAST 148
12.7.2.1 Consumers are witnessing an increased demand for clean-label food products 148
TABLE 115 MIDDLE EAST: MODIFIED STARCH MARKET SIZE, BY RAW MATERIAL,
2018-2025 (USD THOUSAND) 148

13 COMPETITIVE LANDSCAPE 149
13.1 OVERVIEW 149
13.2 MARKET EVALUATION FRAMEWORK 149
FIGURE 40 MARKET EVALUATION FRAMEWORK, 2017-2020 149
13.3 MARKET SHARE ANALYSIS, 2019 150
FIGURE 41 MARKET SHARE ANALYSIS, 2019 150
13.4 REVENUE ANALYSIS OF MAJOR MARKET PLAYERS 151
FIGURE 42 REVENUE ANALYSIS OF MAJOR MARKET PLAYERS, 2015-2019 151
13.5 COMPETITIVE SCENARIO 151
13.5.1 EXPANSIONS & INVESTMENTS 151
TABLE 116 EXPANSIONS & INVESTMENTS, 2018-2020 151
13.5.2 JOINT VENTURES & PARTNERSHIPS 152
TABLE 117 JOINT VENTURES & PARTNERSHIPS, 2018-2020 152
13.5.3 NEW PRODUCT LAUNCHES 153
TABLE 118 NEW PRODUCT LAUNCHES, 2017-2020 153
13.5.4 ACQUISITIONS 153
TABLE 119 ACQUISITIONS, 2017-2020 153

14 COMPANY EVALUATION MATRIX & COMPANY PROFILES 154
14.1 OVERVIEW 154
14.2 COMPANY EVALUATION MATRIX: DEFINITIONS & METHODOLOGY 154
14.2.1 STAR 154
14.2.2 EMERGING LEADERS 154
14.2.3 PERVASIVE 154
14.2.4 EMERGING COMPANIES 155
14.3 COMPANY EVALUATION MATRIX, 2019 (OVERALL MARKET) 155
FIGURE 43 GLOBAL MODIFIED STARCH MARKET COMPANY EVALUATION MATRIX,
2019 (OVERALL MARKET) 155
14.4 COMPANY PROFILES 156
(Business overview, Products offered, Recent developments, SWOT analysis, MNM view)*
14.4.1 ARCHER DANIELS MIDLAND COMPANY 156
FIGURE 44 ARCHER DANIELS MIDLAND COMPANY: COMPANY SNAPSHOT 156
FIGURE 45 ARCHER DANIELS MIDLAND COMPANY: SWOT ANALYSIS 158
14.4.2 CARGILL 159
FIGURE 46 CARGILL: COMPANY SNAPSHOT 159
FIGURE 47 CARGILL: SWOT ANALYSIS 161
14.4.3 INGREDION INCORPORATED 162
FIGURE 48 INGREDION INCORPORATED: COMPANY SNAPSHOT 162
FIGURE 49 INGREDION INCORPORATED: SWOT ANALYSIS 165
14.4.4 TATE & LYLE 166
FIGURE 50 TATE & LYLE: COMPANY SNAPSHOT 166
FIGURE 51 TATE & LYLE: SWOT ANALYSIS 168
14.4.5 ROQUETTE FRÈRES 170
FIGURE 52 ROQUETTE FRÈRES: SWOT ANALYSIS 171
14.4.6 AVEBE U.A. 172
FIGURE 53 AVEBE U.A.: COMPANY SNAPSHOT 172
14.4.7 GRAIN PROCESSING CORPORATION 174
14.4.8 EMSLAND 175
14.4.9 AGRANA 177
FIGURE 54 AGRANA: COMPANY SNAPSHOT 177
14.4.10 SMS CORPORATION 179
14.4.11 GLOBAL BIO-CHEM TECHNOLOGY GROUP COMPANY LIMITED 182
FIGURE 55 GLOBAL BIO-CHEM TECHNOLOGY GROUP COMPANY LIMITED: COMPANY SNAPSHOT 182
14.4.12 SPAC STARCH PRODUCTS (INDIA) LTD. 184
14.4.13 QINGDAO CBH CO., LTD. 185
14.4.14 TEREOS 186
FIGURE 56 TEREOS: COMPANY SNAPSHOT 186
14.4.15 KMC 187
14.5 COMPETITIVE LEADERSHIP MAPPING (START-UP/SME) 188
14.5.1 PROGRESSIVE COMPANIES 188
14.5.2 STARTING BLOCKS 188
14.5.3 RESPONSIVE COMPANIES 188
14.5.4 DYNAMIC COMPANIES 188
FIGURE 57 MODIFIED STARCH MARKET, COMPETITIVE LEADERSHIP MAPPING FOR START-UPS/SMES, 2019 189
14.5.5 BENEO 190
14.5.6 ANGEL STARCH & FOOD PVT. LTD. 191
14.5.7 SHUBHAM STARCH CHEM PVT. LTD. 192
14.5.8 EVEREST STARCH (INDIA) PVT. LTD. 193
14.5.9 SHEEKHARR STARCH PVT. LTD. 194
14.5.10 SANSTAR BIO-POLYMERS LTD. 195
14.5.11 UNIVERSAL BIOPOLYMERS 196
14.5.12 SONISH STARCH TECHNOLOGY CO. LTD. 197
14.5.13 VENUS STARCH SUPPLIERS 198
14.5.14 GROMOTECH AGROCHEM PVT. LTD. 199
*Business overview, Products offered, Recent developments, SWOT analysis, MNM view might not be captured in case of unlisted companies.

15 APPENDIX 200
15.1 DISCUSSION GUIDE 200
15.2 KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL 205
15.3 AVAILABLE CUSTOMIZATIONS 207
15.4 RELATED REPORTS 207
15.5 AUTHOR DETAILS 208