Market Size of Bangladesh Starch and Starch Derivative Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.21 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Bangladesh Starch and Starch Derivative Market Analysis
The Bangladesh starch and starch derivatives market is projected to register a CAGR of 6.21% during the forecast period.
- The country's growing textile and food and beverage industry primarily drives the market. With the growth in the textile industry, the application of tapioca and maize starch is also expected to rise. Additionally, the increasing use of starch and starch derivatives in the country is fuelling the demand for modified starch.
- A wide range of applications of modified starch in the food industry drives demand for modified starch. For instance, modified starch has several functional advantages in various food products, including baked goods, snacks, beverages, and nutritional foods. Rising consumer demand for healthier food options will boost demand for modified starch during the forecast period.
- According to the United States Department of Agriculture-Foreign Agricultural Service (USDA-FAS) report in 2022, 85% of the total corn produced in the country was harvested in the winter season. Also, the report estimated that about 90% of the total corn produced in the country was used to make starch and flour. Additionally, the country is importing corn and other starch products due to the rising textile and food & beverage demand.
Bangladesh Starch and Starch Derivative Industry Segmentation
Starches are basically polymeric carbohydrates playing a vital role in the human diet. It is renewable and biodegradable material primarily extracted from agricultural commodities. Starches contribute to textural improvements, moisture control, and stabilization in food processing applications. Modified starch or starch derivatives are an altered form of starches with a high degree of processability.
The Bangladesh starch and starch derivatives market is segmented on the basis of application. By application, the market studied is segmented into textile, food and beverage, paper and corrugation, pharmaceuticals, and other applications.
For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).
| Application | |
| Textile | |
| Food and Beverage | |
| Paper and Corrugation | |
| Pharmaceuticals | |
| Other Applications |
Bangladesh Starch and Starch Derivative Market Size Summary
The Bangladesh starch and starch derivatives market is experiencing significant growth, driven primarily by the expanding textile and food and beverage industries. The increasing application of tapioca and maize starch in the textile sector, coupled with the rising demand for modified starch in the food industry, is propelling market expansion. Modified starch is gaining traction due to its functional advantages in various food products, such as baked goods, snacks, and nutritional foods, aligning with the growing consumer preference for healthier options. The country's reliance on corn for starch production, with a substantial portion of its harvest dedicated to this purpose, underscores the importance of starch in both the textile and food sectors. Additionally, the import of corn and starch products is on the rise, reflecting the burgeoning demand in these industries.
The food processing sector in Bangladesh, encompassing a wide range of products from cereals to carbonated beverages, is poised for substantial growth, driven by the increasing demand for convenience foods. This trend is fueled by the busy lifestyles and expanding working population in the country. Modified starch serves as a crucial ingredient in the food and beverage industry, acting as a stabilizer, thickening agent, and emulsifier in various products. The textile industry, a cornerstone of Bangladesh's economy, also significantly contributes to the starch market, with tapioca and cornstarch being essential for garment manufacturing processes. Despite being a developing and import-dependent nation, Bangladesh hosts key global and local players in the starch market, highlighting its strategic importance in the region.
Bangladesh Starch and Starch Derivative Market Size - Table of Contents
-
1. MARKET DYNAMICS
-
1.1 Market Drivers
-
1.2 Market Restraints
-
1.3 Porter's Five Forces Analysis
-
1.3.1 Threat of New Entrants
-
1.3.2 Bargaining Power of Buyers/Consumers
-
1.3.3 Bargaining Power of Suppliers
-
1.3.4 Threat of Substitute Products
-
1.3.5 Intensity of Competitive Rivalry
-
-
-
2. MARKET SEGMENTATION
-
2.1 Application
-
2.1.1 Textile
-
2.1.2 Food and Beverage
-
2.1.3 Paper and Corrugation
-
2.1.4 Pharmaceuticals
-
2.1.5 Other Applications
-
-
Bangladesh Starch and Starch Derivative Market Size FAQs
What is the current Bangladesh Starch and Starch Derivative Market size?
The Bangladesh Starch and Starch Derivative Market is projected to register a CAGR of 6.21% during the forecast period (2024-2029)
Who are the key players in Bangladesh Starch and Starch Derivative Market?
Cargill, Incorporated, Gulshan Polyols Limited, KMC, JTA Group and FLAMINGO AGRO-TECH LTD are the major companies operating in the Bangladesh Starch and Starch Derivative Market.
