Market Size of Sri Lanka 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 | 5.20 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Sri Lanka Starch & Starch Derivative Market Analysis
The Sri Lankan starch and starch derivative market is projected to grow at a CAGR of 5.2% during the forecast period 2020-2025.
- The market is majorly driven by the wide range of applications it provides in different sectors such as detergents, textile, pulp and paper industries, organic synthesis, and biofuel industry, along with the food and beverage industries. The market growth is highly impacted by the growth of the processing food industry and export-import factors.
- Moreover, government support in the country has further fueled the market growth as the Sri Lankan government is supporting foreign investment, and is aiming for the country to be recognized as one of the major corn and rice starch producers in the world.
- However, high dependency on imports to fulfill the growing demand for starch and starch derivatives are restraining the market growth across the country. Thailand is one of the major exporters of modified starches to Sri Lanka, and it contributes a major share of modified starch import in Sri Lanka.
Sri Lanka Starch & Starch Derivative Industry Segmentation
The Sri Lankan starch and starch derivatives market is studied for different types of starch derivatives such as maltodextrin, cyclodextrin, glucose syrups, hydrolysates, modified starch, and others. The market is also studied for different sources through which starch derivatives are derived include corn, wheat, cassava, and other sources; and its wide application in different end-user industries such as food and beverage, feed, paper industry, pharmaceutical industry, bioethanol, cosmetics, and other industrial applications.
| By Type | |
| Maltodextrin | |
| Cyclodextrin | |
| Glucose Syrups | |
| Hydrolysates | |
| Modified Starch | |
| Others |
| By Source | |
| Corn | |
| Wheat | |
| Cassava | |
| Other Sources |
| By Application | |
| Food and Beverage | |
| Feed | |
| Paper Industry | |
| Pharmaceutical Industry | |
| Bioethanol | |
| Cosmetics | |
| Other Industrial Applications |
Sri Lanka Starch and Starch Derivative Market Size Summary
The Sri Lankan starch and starch derivative market is experiencing significant growth, driven by its diverse applications across various sectors such as detergents, textiles, pulp and paper, organic synthesis, biofuels, and particularly the food and beverage industries. The expansion of the processing food industry and favorable export-import conditions are key factors contributing to this growth. Government initiatives to attract foreign investment and position Sri Lanka as a leading producer of corn and rice starch globally further bolster the market. However, the market faces challenges due to its reliance on imports to meet the increasing demand for starch and derivatives, with Thailand being a major supplier of modified starches.
The production of starch in Sri Lanka primarily comes from rice and maize, with maize production showing promising growth, which is expected to enhance the export of maize-derived starch derivatives. The properties of starch, such as high viscosity and binding strength, make it suitable for various processed food applications, driving market demand. The preference for native and physically-modified starches in moisture absorption applications and the use of modified potato starch as a thickening agent in soups and sauces are notable trends. The market is competitive, with numerous domestic players engaging in mergers, expansions, acquisitions, and partnerships to strengthen their market presence. Key players include KMC, Angel Starch & Food Pvt Ltd., Hoang Dang Processing Foodstuff Co., Ltd, Asia Fructose Co., Ltd., and Gulshan Polyols Ltd.
Sri Lanka Starch and Starch Derivative Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Maltodextrin
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2.1.2 Cyclodextrin
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2.1.3 Glucose Syrups
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2.1.4 Hydrolysates
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2.1.5 Modified Starch
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2.1.6 Others
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2.2 By Source
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2.2.1 Corn
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2.2.2 Wheat
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2.2.3 Cassava
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2.2.4 Other Sources
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2.3 By Application
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2.3.1 Food and Beverage
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2.3.2 Feed
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2.3.3 Paper Industry
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2.3.4 Pharmaceutical Industry
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2.3.5 Bioethanol
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2.3.6 Cosmetics
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2.3.7 Other Industrial Applications
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Sri Lanka Starch and Starch Derivative Market Size FAQs
What is the current Sri Lanka Starch and Starch Derivative Market size?
The Sri Lanka Starch and Starch Derivative Market is projected to register a CAGR of 5.20% during the forecast period (2024-2029)
Who are the key players in Sri Lanka Starch and Starch Derivative Market?
KMC, Angel Starch & Food Pvt Ltd.,, Hoang Dang Processing Foodstuff Co., Ltd, Asia Fructose Co., Ltd. and Gulshan Polyols Ltd. are the major companies operating in the Sri Lanka Starch and Starch Derivative Market.
