Global Modified Starches Market to Reach 27M Tons and $35B by 2035

IndexBox has just published a new report: World - Dextrins And Other Modified Starches - Market Analysis, Forecast, Size, Trends And Insights.

The global market for dextrins and other modified starches is forecast to grow steadily, with volume projected to reach 27 million tons and value to hit $35 billion by 2035. In 2024, consumption was 24M tons ($28.8B in value), with China being the largest consumer and producer. Global trade saw 3.7M tons imported and exported; Thailand is the leading exporter, while China, Japan, and Germany are top importers. Price trends show import and export prices have risen significantly since 2017, with notable variations between countries.

Key Findings

• Global market volume is forecast to reach 27M tons by 2035, with value projected at $35B
• China is the world's largest consumer (4.4M tons) and producer (4M tons) of modified starches
• Thailand is the leading exporter, accounting for 29% of global export volume
• The United States recorded the highest market value growth rate among major consumers
• Average import and export prices have increased significantly, rising over 45% since 2017

Market Forecast

Driven by increasing demand for dextrins and other modified starches worldwide, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +0.9% for the period from 2024 to 2035, which is projected to bring the market volume to 27M tons by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +1.8% for the period from 2024 to 2035, which is projected to bring the market value to $35B (in nominal wholesale prices) by the end of 2035.

Consumption

World's Consumption of Dextrins And Other Modified Starches

In 2024, global modified starches consumption rose slightly to 24M tons, increasing by 3.8% compared with the previous year's figure. Overall, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak volume and is likely to continue growth in the immediate term.

The global modified starches market revenue contracted to $28.8B in 2024, waning by -1.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.7% over the period from 2013 to 2024; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2021 when the market value increased by 7.6%. Global consumption peaked at $29.3B in 2023, and then contracted modestly in the following year.

Consumption By Country

China (4.4M tons) constituted the country with the largest volume of modified starches consumption, comprising approx. 18% of total volume. Moreover, modified starches consumption in China exceeded the figures recorded by the second-largest consumer, the United States (1.8M tons), twofold. The third position in this ranking was taken by India (1.8M tons), with a 7.3% share.

In China, modified starches consumption increased at an average annual rate of +1.1% over the period from 2013-2024. The remaining consuming countries recorded the following average annual rates of consumption growth: the United States (+0.1% per year) and India (+1.5% per year).

In value terms, the largest modified starches markets worldwide were China ($4.6B), the United States ($2.9B) and India ($1.3B), with a combined 30% share of the global market.

The United States, with a CAGR of +4.5%, recorded the highest growth rate of market size in terms of the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of modified starches per capita consumption in 2024 were Japan (6.2 kg per person), the United States (5.4 kg per person) and Russia (5.2 kg per person).

From 2013 to 2024, the biggest increases were recorded for China (with a CAGR of +0.7%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World's Production of Dextrins And Other Modified Starches

Global modified starches production expanded to 24M tons in 2024, picking up by 4% compared with the previous year. Over the period under review, production continues to indicate a relatively flat trend pattern. As a result, production reached the peak volume and is likely to continue growth in the immediate term.

In value terms, modified starches production dropped slightly to $30.5B in 2024 estimated in export price. The total output value increased at an average annual rate of +2.0% from 2013 to 2024; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The growth pace was the most rapid in 2021 when the production volume increased by 7.5%. Over the period under review, global production attained the maximum level at $30.8B in 2023, and then fell modestly in the following year.

Production By Country

China (4M tons) remains the largest modified starches producing country worldwide, accounting for 17% of total volume. Moreover, modified starches production in China exceeded the figures recorded by the second-largest producer, the United States (1.9M tons), twofold. India (1.8M tons) ranked third in terms of total production with a 7.4% share.

From 2013 to 2024, the average annual growth rate of volume in China was relatively modest. In the other countries, the average annual rates were as follows: the United States (-1.0% per year) and India (+1.5% per year).

Imports

World's Imports of Dextrins And Other Modified Starches

In 2024, approx. 3.7M tons of dextrins and other modified starches were imported worldwide; surging by 3.2% against the previous year's figure. Over the period under review, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 8.1%. Over the period under review, global imports attained the maximum at 4.2M tons in 2022; however, from 2023 to 2024, imports failed to regain momentum.

In value terms, modified starches imports fell to $5B in 2024. In general, total imports indicated a measured expansion from 2013 to 2024: its value increased at an average annual rate of +2.7% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2022 when imports increased by 20%. Global imports peaked at $5.3B in 2023, and then reduced slightly in the following year.

Imports By Country

The countries with the highest levels of modified starches imports in 2024 were China (514K tons), Japan (397K tons) and Germany (296K tons), together resulting at 32% of total import. It was distantly followed by the United States (176K tons), making up a 4.7% share of total imports. South Korea (148K tons), Indonesia (107K tons), Canada (106K tons), the Netherlands (100K tons), France (99K tons) and the Philippines (93K tons) took a little share of total imports.

From 2013 to 2024, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by the Philippines (with a CAGR of +7.9%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest modified starches importing markets worldwide were China ($540M), Germany ($430M) and Japan ($395M), with a combined 27% share of global imports. The United States, France, South Korea, the Netherlands, Canada, Indonesia and the Philippines lagged somewhat behind, together comprising a further 23%.

In terms of the main importing countries, the United States, with a CAGR of +8.1%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2024, the average modified starches import price amounted to $1,354 per ton, falling by -7.8% against the previous year. In general, import price indicated a measured expansion from 2013 to 2024: its price increased at an average annual rate of +2.2% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, modified starches import price increased by +46.7% against 2017 indices. The pace of growth was the most pronounced in 2023 an increase of 22%. As a result, import price reached the peak level of $1,468 per ton, and then shrank in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2024, amid the top importers, the country with the highest price was the United States ($1,966 per ton), while Indonesia ($793 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Canada (+3.6%), while the other global leaders experienced more modest paces of growth.

Exports

World's Exports of Dextrins And Other Modified Starches

In 2024, approx. 3.7M tons of dextrins and other modified starches were exported worldwide; picking up by 4.8% against 2023. In general, exports recorded a slight expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 9.7%. The global exports peaked at 3.9M tons in 2022; however, from 2023 to 2024, the exports remained at a lower figure.

In value terms, modified starches exports contracted to $4.7B in 2024. Over the period under review, total exports indicated noticeable growth from 2013 to 2024: its value increased at an average annual rate of +3.3% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, exports increased by +58.6% against 2015 indices. The pace of growth appeared the most rapid in 2021 with an increase of 15%. Over the period under review, the global exports reached the maximum at $5B in 2023, and then fell in the following year.

Exports By Country

Thailand represented the largest exporter of dextrins and other modified starches in the world, with the volume of exports reaching 1.1M tons, which was approx. 29% of total exports in 2024. It was distantly followed by the Netherlands (447K tons), the United States (276K tons), Germany (271K tons), France (254K tons), Vietnam (229K tons) and China (199K tons), together achieving a 46% share of total exports. The following exporters - Belgium (121K tons), Italy (118K tons) and Austria (104K tons) - each finished at a 9.4% share of total exports.

Exports from Thailand increased at an average annual rate of +1.5% from 2013 to 2024. At the same time, Belgium (+22.3%), Vietnam (+11.5%), Austria (+10.1%) and China (+4.6%) displayed positive paces of growth. Moreover, Belgium emerged as the fastest-growing exporter exported in the world, with a CAGR of +22.3% from 2013-2024. Italy, Germany and the Netherlands experienced a relatively flat trend pattern. By contrast, the United States (-4.1%) and France (-4.4%) illustrated a downward trend over the same period. From 2013 to 2024, the share of Vietnam, Belgium, China and Austria increased by +4.1, +2.9, +1.8 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($965M), the Netherlands ($789M) and Germany ($537M) constituted the countries with the highest levels of exports in 2024, together accounting for 48% of global exports. The United States, France, China, Austria, Vietnam, Belgium and Italy lagged somewhat behind, together comprising a further 35%.

Belgium, with a CAGR of +27.9%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2024, the average modified starches export price amounted to $1,296 per ton, reducing by -9.4% against the previous year. Overall, export price indicated a measured expansion from 2013 to 2024: its price increased at an average annual rate of +2.3% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, modified starches export price increased by +36.5% against 2020 indices. The pace of growth appeared the most rapid in 2023 when the average export price increased by 26%. As a result, the export price reached the peak level of $1,430 per ton, and then fell in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2024, amid the top suppliers, the country with the highest price was Germany ($1,979 per ton), while Vietnam ($695 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by the United States (+5.4%), while the other global leaders experienced more modest paces of growth.