The extensive government support in numerous countries assists in the efficiency of the global supply chain and the attainment of national food security amid hunger crises. This and the presence of a strong logistical network justify the negligible impact on the agriculture sector of the outbreak of COVID-19. Furthermore, there was a positive impact on the pharmaceutical industry, with the surging starch use in medicines and drugs. However, most industries, including textile and paper & pulp, were shattered, but with the removal of lockdowns, the market will grow consistently in the forecast period.

Under segmentation by source, corn will spur the industrial starches market growth, being a prominent raw material. The overall corn production in 2022 exceeded the 2021 numbers by more than 7%, on account of the swift expansion of the food processing and agricultural sectors. Starch is used in various forms in the paper industry, such as coating agents, surface sizing agents, and wet-end additive agents. The inherent environmental benefits over the conventional plastic raw materials, primarily biodegradability, drive the market.

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The rising investments in emerging economies will also expand the industrial starches market. The food processing sector is witnessing high growth rates in developing countries, such as China and India, under a vision of becoming the biggest markets in these region. This is achievable with the rising per capita income, which drives the food demand. Essentially, the visions are of the regional governments, who are intensifying efforts to improve the hunger situation. For instance, 100% foreign direct investment (FDI) was announced by the Indian government in the processed food industry in 2020.

Hence, the players in emerging economies will act as a catalyst for the expansion of the market, by diversifying their product portfolios.