Thailand Industrial Starch Market Size and Forecasts 2030

THAILAND INDUSTRIAL STARCH MARKET

KEY FINDINGS

• The Thailand industrial starch market is projected to grow at a CAGR of 5.8% from 2024 to 2030, driven by rising demand from the food and beverage industry.

• Key applications include the paper industry, food processing, and textiles, with the food sector alone accounting for over 40% of total demand.

• Starch production from cassava, a key raw material in Thailand, remains a competitive advantage, contributing to over 70% of the starch produced.

• Technological advancements in starch modification processes are improving product quality, driving demand in high-performance applications like adhesives and coatings.

• A significant challenge is the volatility of cassava prices due to climate variability, which impacts production costs and profitability.

• Emerging trends include the development of bio-based and sustainable starch alternatives, catering to increasing environmental concerns.

• Future growth will be supported by the adoption of starch in biodegradable packaging, aligning with global sustainability goals.

• Key investment opportunities lie in expanding production capacities and improving supply chain efficiency, particularly in cassava sourcing and processing technologies.

• The market is witnessing consolidation as larger companies acquire smaller players to gain access to advanced starch processing technologies.

• Government initiatives to support agricultural production, including subsidies for cassava farmers, are expected to bolster the market’s long-term growth prospects.

THAILAND INDUSTRIAL STARCH MARKET OVERVIEW

The Thailand industrial starch market is currently experiencing robust growth due to increasing demand from multiple sectors such as food and beverages, paper production, and textiles. One of the primary drivers of this growth is the widespread availability of cassava, which serves as the principal raw material for starch production. The country’s well-established agricultural infrastructure and advancements in processing technologies have further strengthened its competitive position in the global market.

Despite its growth potential, the market faces challenges such as raw material price fluctuations, particularly cassava, which is vulnerable to environmental changes. However, technology is playing a crucial role in overcoming these challenges. Innovations in starch modification and processing are enhancing the functionality and efficiency of starch products, making them suitable for a broader range of applications. This shift is especially notable in industries like adhesives, coatings, and bio-plastics, where performance requirements are stringent.

INTRODUCTION TOTHAILAND INDUSTRIAL STARCH MARKET

The Thailand industrial starch market encompasses the production, processing, and distribution of starch products derived primarily from cassava and corn. These starches serve as essential ingredients in various industrial applications, ranging from food production to paper manufacturing. As Thailand is one of the world’s leading producers of cassava, the country plays a significant role in the global starch industry.

There are different types of starch available in the market, including native starch, modified starch, and resistant starch. Native starch is unprocessed and used in industries such as food and textiles. Modified starch is treated to enhance its properties for specific uses like adhesives and paper. Resistant starch is emerging in the food industry due to its health benefits.

In terms of applications, industrial starch is utilized in sectors such as food and beverages, paper, textiles, and pharmaceuticals. In food, it acts as a thickener and stabilizer, while in paper production, it improves paper quality and strength. The textile industry uses starch for fabric finishing, and pharmaceuticals use it in tablet formulations.

The benefits of industrial starch include versatility, biodegradability, and the ability to enhance product quality across various industries. However, challenges such as price volatility of raw materials and environmental concerns regarding cassava farming practices persist. Addressing these challenges requires investment in sustainable production methods and technological advancements.

THAILAND INDUSTRIAL STARCH MARKET SIZE AND FORECAST

The Thailand industrial starch market was valued at USD 1.2 billion in 2023 and is expected to reach USD 1.9 billion by 2030, growing at a CAGR of 5.8%. The market’s growth is attributed to the increasing demand for starch in the food and beverage industry, along with rising adoption in non-food sectors such as paper, adhesives, and textiles. The development of bio-based starch products and eco-friendly packaging solutions is also expected to contribute to future growth.

THAILAND INDUSTRIAL STARCH MARKET TRENDS

Technological advancements in starch modification are shaping the market by enabling the production of high-performance starches for specific industrial applications. Modified starches with enhanced properties are increasingly used in the textile, paper, and adhesive industries. Another significant trend is the shift towards sustainable starch production methods, driven by global concerns over environmental sustainability. This has led to the development of bio-based and biodegradable starch products, especially for packaging. Consumer preferences are also evolving, with increasing demand for clean-label and natural ingredients in food products, which is boosting the market for native starch.

NEW PRODUCT DEVELOPMENT

• Cassava-based Biodegradable Starch Film: This product, developed by a leading Thai starch producer, offers an eco-friendly alternative to traditional plastics. Its impact on the market is significant as industries increasingly seek sustainable packaging options.
• Modified Starch for High-Temperature Adhesives: A new formulation designed for the adhesive industry, this starch withstands high temperatures and is gaining traction in industrial settings where performance is crucial.
• Resistant Starch for Dietary Fibers: Targeting the growing health and wellness trend, this product is being adopted by food manufacturers to enhance the nutritional profile of processed foods. It is expected to see strong demand in the coming years.
• Native Starch with Enhanced Gelatinization Properties: Tailored for the food industry, this starch allows for better texture and stability in processed foods, aligning with consumer demand for high-quality, clean-label products.

THAILAND INDUSTRIAL STARCH MARKET SEGMENTATION

By Product Type: 

• Native starch, 
• Modified starch,
•  Resistant starch.

By Application: 

• Food & beverages,
•  Paper, 
• Textiles, 
• Adhesives.

By End User:

•  Industrial, 
• Retail, 
• Foodservice.

THAILAND INDUSTRIAL STARCH MARKETTOP PLAYERS

1. Thai Flour Co., Ltd.
2. Global Bio-Chem Technology Group
3. Ingredion Thailand
4. Cargill Thailand
5. Roquette
6. Thai Wah Public Co., Ltd.
7. Tereos
8. Avebe
9. Tate & Lyle
10. Siam Modified Starch Co., Ltd.

THAILAND INDUSTRIAL STARCH MARKETREPORT WILL ANSWER FOLLOWING QUESTIONS

1. What is the current market size of the Thailand industrial starch market?
2. What are the main drivers of growth in the Thailand industrial starch market?
3. How is the cassava supply chain impacting the market?
4. What are the technological advancements in starch processing?
5. What are the key applications of industrial starch in Thailand?
6. What challenges are companies facing in terms of raw material sourcing?
7. How are sustainability concerns influencing new product developments?
8. What is the competitive landscape of the Thailand industrial starch market?
9. What are the market's future growth prospects?
10. How is the adoption of bio-based starch products evolving?
11. What are the investment opportunities in this market?
12. How are government policies affecting the market?