Bangladesh Starch and Starch Derivative Market Size Forecast to Reach $239.7 Million by 2026

Bangladesh Starch and Starch Derivative market size is forecast to reach $239.7 million by 2026, growing at a CAGR of 6.1% during the forecast period 2021-2026. Starch is a biopolymer and it exists naturally that is a source of energy. It is a polysaccharide that is made up of glucose. It is derived from cereal grains and from tubers such as Tropicana and potato. Starch derivative is derived by treating starch enzymatically, chemically, and physically and it has various applications in several end use industries. There are several types of starch and starch derivatives that are used in Bangladesh that includes glucose syrup, modified starch, Maltodextrin, and Cyclodextrin among others. Increasing demand for starch derivatives from food processing industries and increasing food processing industries in Bangladesh are the major factors driving the growth of the market. Increasing concerns regarding the fitness, increasing incidences of malnutrition, and availability of wide range of the starch derivative is set to further enhance the overall market developments of the Bangladesh Starch and Starch Derivative Market for the period 2021-2026.

Key Takeaways

• Increasing usage of ready to eats and increasing consumer inclination towards healthy diets are likely to aid the market growth of the Bangladesh Starch and Starch Derivative Market report.
• Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be Bangladesh Starch and Starch Derivative Market report.
• Lack of awareness regarding the starch derivatives and stringent regulations is poised to create the hurdles for the Bangladesh Starch and Starch Derivative Market.

Bangladesh Starch and Starch Derivative Market Revenue Share, By Type, 2020(%)

Bangladesh Starch and Starch Derivative Market Segment Analysis – By Type

Glucose Syrup held the largest share in the Bangladesh Starch and Starch Derivative Market in 2020 and is estimated to grow at a CAGR 6.9% during the forecast period 2021-2026. This is attributed to the various health benefits that are associated with the starch. Glucose syrup is made from the hydrolysis of starch and is highly used in industrial fermentation. Increasing usage of the glucose syrups in confectionary and presence of higher oligosaccharides is increasing the growth of the segment. Maltodextrin is a starchy powder that is white in color. It is added into several foods for improving their flavor, thickness, and shelf life. It is a very common ingredient in pastries, soft drinks, and candies among others. Glucose Syrup are estimated to register the higher CAGR over the period 2021-2026.

Bangladesh Starch and Starch Derivative Market Segment Analysis – By Applications

Food & Beverages held the largest share in the Bangladesh Starch and Starch Derivative Market in 2020 and is estimated to grow at a CAGR 7.3% during the forecast period 2021-2026. This is owing to the increasing food processing industries in Bangladesh. Increasing working population in Bangladesh is increasing the demand for ready to eat food products. Starch derivatives are used in food applications as a fat replacers, nutritional goods, texture improvers, and high shear strength. Increasing consumer’s demands of non-carbonate and energy drinks as it is used as natural sweeteners are also increasing the growth of the market. Food & Beverages are estimated to register the higher CAGR over the period 2021-2026.

Bangladesh Starch and Starch Derivative Market Drivers

• Increase in the Consumption of Bakery & Confectionary Products

Increase in the consumption of bakery & confectionary products is increasing the growth of the Bangladesh Starch and Starch Derivative Market. Bakery & confectionary serves as a basic food items for nutrition. The demand for bakery products is increasing owing to the increasing demand for nutritional food and increase in the preference of consumers towards the tasty, attractive, and textured bakery products. Lower price, high nutritional value, and easy accessibility associated with the bakery and confectionary products are increasing the growth of the market. Thus, increasing the growth of the Bangladesh Starch and Starch Derivative Market during the forecast period 2021-2026.

• Increasing Advancement of New Technologies in Food and Beverage Industry

Increasing usage of new technologies in the food and beverage industry is increasing the growth of the Bangladesh Starch and Starch Derivative Market. This is attributed to the introduction of new technologies in the food industry such as ultrafiltration, and bio-encapsulation among others. The encapsulation technology is used to enhance the tastes of the various starch derivatives products. Industrial biotechnology in the fermentation industry are becoming increasingly important, especially as fossil energy resources are becoming scarce. Thus, increasing the growth of the Bangladesh Starch and Starch Derivative Market during the forecast period 2021-2026.

Bangladesh Starch and Starch Derivative Market Challenges

• Lack of Awareness Regarding the Starch Derivatives and Stringent Regulations

Some of the factors that are set to impede the growth of the Bangladesh Starch and Starch Derivative Market are lack of awareness regarding the starch derivatives and increasing government regulations. Increasing international quality standard and higher costs of the starch derivatives is also set to hinder the growth of the market during the forecast period 2021-2026.

Bangladesh Starch and Starch Derivative Market Landscape

Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Bangladesh Starch and Starch Derivative Market. In 2020, the Bangladesh Starch and Starch Derivative Market share is consolidated by the top ten players present in the market. The Bangladesh Starch and Starch Derivative Market, top 10 companies are Cargill Inc., Agrana Group, Bangladesh Maize Products, Biswas Agro, Flamingo Agro Tech Ltd., Gulshan Polyols Limited, JTA Group, and KMC among others.

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