Starch recovery systems market players are focusing on R&D investments for processing operations and equipment to mitigate losses arising from the COVID-19 pandemic.
DUBAI, UAE / ACCESSWIRE / May 26, 2020 / The global coronavirus outbreak has been creating a host of logistical challenges across the food processing sector. Starch recovery systems market is also bearing the brunt of pandemic to a large extent. As public markets remained closed for most of Q1 2020 and labor shortages still prevail in the farming sector, traders in global starch recovery systems market are set to face a severe threat in procurement of potato stocks in the immediate future. The starch recovery systems market is projected to reach the valuation of US$ 457 Mn during 2019 - 2029, according to a new Future Market Insights (FMI) report. Rising demand for starch byproducts in the food processing industry will continue to generate major opportunities in the starch recovery systems market, says the report.
"The development of high yield, low cost equipment in the sector will remain lucrative for the market participants. However, the pandemic is pushing the starch recovery systems market into rough waters in the short term," says the FMI analyst.
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Key Takeaways of Starch Recovery Systems Market Study
- Sales of hydrocyclones and centrifuges will continue to hold the lead for food processing applications, while refining sieves are witnessing a higher growth rate.
- The high demand for frozen starch foods is set to stay prominent, particularly for frozen potato products.
- Large scale industry applications will hold pole position, while small and medium scale enterprises are projected to gain ground during the forecast period.
- Asia Pacific will hold a major share of the global starch recovery systems market, driven by a trend of eco-efficient processing systems for reduced discharge in the region.
Starch Recovery Systems Market - Key Growth Factors
- High demand for efficient and ecofriendly equipment for potato processing applications is a primary factor sustaining sales through the forecast period.
- Awareness about starch and associated food nutrition derivatives drive market growth through the forecast period.
- Substantial funding initiatives by food processing companies into research and development contributes to market development.
- Frequent innovations in next-gen food processing technology will support the market growth through 2029.
Starch Recovery Systems Market - Key Restraints
- High capital requirements for research and development for new products hinder market growth.
- Poor rate of infrastructural growth in for starch recovery systems is having a negative impact on the market.
Impact of COVID-19 on Starch Recovery Systems Market
The impact of the coronavirus pandemic on the starch recovery systems market has largely been negative. Traders in the industry have been slammed owing to the closure of public markets, which has cut into sales. As a larger portion of the industry workforce is now operating from home, government aid for businesses in the starch recovery systems sector is key to sustaining operations, and recovery post the pandemic.
While the growth in population and lifestyle standards has resulted in increased expenditure for food, the restrictions and preventive measures set up to contain the contagion are impacting transport and logistics for the procurement of essential potato produce. The economic slowdown is impacting agriculture through a shortage of workers, negatively impacting the overall market.
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Competitive Landscape of Starch Recovery Systems Market
Some of the major companies profiled in this FMI report include, but are not limited to, Hiller Gmbh, GEA, Flo-Mech, Alfa Laval, Sino-Food Machinery, Andritz, Larsson Sweden, NivobaHovex, Myande Group, and Microtec Engineering Group. Players in starch recovery systems market are investing in centrifuges and hydrocyclones to leverage multifunctional features, with eco-efficiency and upgradation trends.
More About the Report
This FMI study of 250 pages provides all-inclusive insights on the global starch recovery systems market. The market analysis is based on component (refining sieves, hydrocyclones and centifuges, vacuum filters, screw conveyors, and filling stations), plant size (small, medium, and large), and application (frozen products, chips & snack pellets, dehydrated products, and filling stations), across seven regions (North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East & Africa).
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SOURCE: Future Market Insights