Global Wheat Starch Market to Witness Steady Growth with a CAGR of 4.0% by 2030

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The global wheat starch market is poised for steady growth, with a projected CAGR of +4.0% in volume and +6.0% in value terms from 2024 to 2030. By the end of 2030, market volume is expected to reach 26 million tons, with a market value of $22.4 billion. With increasing demand driving this upward trend, opportunities abound for stakeholders in the wheat starch market.

Market Forecast

Driven by increasing demand for wheat starch worldwide, the market is expected to continue an upward consumption trend over the next six-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +4.0% for the period from 2024 to 2030, which is projected to bring the market volume to 26M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +6.0% for the period from 2024 to 2030, which is projected to bring the market value to $22.4B (in nominal wholesale prices) by the end of 2030.

Consumption

World Consumption of Wheat Starch

In 2024, the amount of wheat starch consumed worldwide rose to 20M tons, growing by 1.7% compared with the previous year. Overall, the total consumption indicated a buoyant increase from 2013 to 2024: its volume increased at an average annual rate of +5.9% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -1.9% against 2022 indices. Global consumption peaked at 21M tons in 2022; however, from 2023 to 2024, consumption stood at a somewhat lower figure.

The global wheat starch market size reached $15.8B in 2024, surging by 3.2% 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). Over the period under review, the total consumption indicated a buoyant expansion from 2013 to 2024: its value increased at an average annual rate of +5.4% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -3.2% against 2022 indices. As a result, consumption attained the peak level of $16.3B. From 2023 to 2024, the growth of the global market failed to regain momentum.

Consumption By Country

The country with the largest volume of wheat starch consumption was China (3.2M tons), accounting for 15% of total volume. Moreover, wheat starch consumption in China exceeded the figures recorded by the second-largest consumer, the United States (1.5M tons), twofold. The third position in this ranking was taken by India (1.2M tons), with a 6% share.

In China, wheat starch consumption expanded at an average annual rate of +6.2% over the period from 2013-2024. In the other countries, the average annual rates were as follows: the United States (+5.3% per year) and India (+8.9% per year).

In value terms, the largest wheat starch markets worldwide were China ($1.9B), the United States ($1.5B) and Brazil ($842M), together comprising 27% of the global market. India, Mexico, Nigeria, Germany, Indonesia, Russia and France lagged somewhat behind, together comprising a further 19%.

Mexico, with a CAGR of +8.4%, saw the highest rates of growth with regard to 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 wheat starch per capita consumption in 2024 were Germany (7.3 kg per person), France (7 kg per person) and the United States (4.4 kg per person).

From 2013 to 2024, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by India (with a CAGR of +7.8%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Wheat Starch

Global wheat starch production expanded slightly to 20M tons in 2024, growing by 1.8% compared with 2023 figures. Overall, the total production indicated a remarkable increase from 2013 to 2024: its volume increased at an average annual rate of +5.9% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, production decreased by -1.7% against 2022 indices. The pace of growth was the most pronounced in 2016 when the production volume increased by 17% against the previous year. Global production peaked at 21M tons in 2022; however, from 2023 to 2024, production stood at a somewhat lower figure.

In value terms, wheat starch production expanded to $16B in 2024 estimated in export price. In general, the total production indicated a remarkable increase from 2013 to 2024: its value increased at an average annual rate of +5.3% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, production decreased by -3.7% against 2022 indices. The pace of growth appeared the most rapid in 2022 with an increase of 20% against the previous year. As a result, production attained the peak level of $16.6B. From 2023 to 2024, global production growth remained at a somewhat lower figure.

Production By Country

China (3.2M tons) constituted the country with the largest volume of wheat starch production, comprising approx. 15% of total volume. Moreover, wheat starch production in China exceeded the figures recorded by the second-largest producer, the United States (1.4M tons), twofold. India (1.2M tons) ranked third in terms of total production with a 5.9% share.

From 2013 to 2024, the average annual rate of growth in terms of volume in China totaled +6.2%. The remaining producing countries recorded the following average annual rates of production growth: the United States (+5.2% per year) and India (+9.0% per year).

Imports

World Imports of Wheat Starch

In 2024, overseas purchases of wheat starch decreased by -9.6% to 791K tons, falling for the third year in a row after two years of growth. The total import volume increased at an average annual rate of +2.4% from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 15% against the previous year. As a result, imports reached the peak of 1M tons. From 2022 to 2024, the growth of global imports remained at a lower figure.

In value terms, wheat starch imports reduced to $550M in 2024. Overall, imports, however, continue to indicate a notable increase. The most prominent rate of growth was recorded in 2022 with an increase of 37%. As a result, imports reached the peak of $646M. From 2023 to 2024, the growth of global imports remained at a somewhat lower figure.

Imports By Country

In 2024, Germany (176K tons), distantly followed by Poland (109K tons), France (70K tons), the United States (41K tons), the Netherlands (41K tons) and the UK (37K tons) represented the main importers of wheat starch, together achieving 60% of total imports. Italy (32K tons), Finland (31K tons), Indonesia (28K tons) and the Czech Republic (20K tons) followed a long way behind the leaders.

From 2013 to 2024, the biggest increases were recorded for the Czech Republic (with a CAGR of +26.2%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest wheat starch importing markets worldwide were Germany ($98M), Finland ($85M) and Poland ($57M), with a combined 43% share of global imports.

Finland, with a CAGR of +22.1%, recorded the highest growth rate of the value of imports, among the main importing countries 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 wheat starch import price amounted to $695 per ton, falling by -2.6% against the previous year. Overall, import price indicated moderate growth from 2013 to 2024: its price increased at an average annual rate of +2.0% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, wheat starch import price increased by +69.1% against 2020 indices. The pace of growth was the most pronounced in 2022 when the average import price increased by 52% against the previous year. Global import price peaked at $714 per ton in 2023, and then reduced slightly 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 Finland ($2,742 per ton), while the Czech Republic ($331 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Finland (+15.0%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Wheat Starch

In 2024, overseas shipments of wheat starch decreased by -6% to 864K tons, falling for the third year in a row after two years of growth. Overall, total exports indicated a temperate expansion from 2013 to 2024: its volume increased at an average annual rate of +3.1% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, exports decreased by -23.3% against 2021 indices. The pace of growth was the most pronounced in 2021 when exports increased by 21%. As a result, the exports reached the peak of 1.1M tons. From 2022 to 2024, the growth of the global exports remained at a somewhat lower figure.

In value terms, wheat starch exports contracted notably to $512M in 2024. In general, exports, however, continue to indicate pronounced growth. The growth pace was the most rapid in 2021 when exports increased by 40%. Over the period under review, the global exports reached the peak figure at $671M in 2022; however, from 2023 to 2024, the exports stood at a somewhat lower figure.

Exports By Country

In 2024, Austria (148K tons), Belgium (132K tons), Lithuania (119K tons) and Australia (111K tons) was the key exporter of wheat starch in the world, comprising 59% of total export. Germany (65K tons) ranks next in terms of the total exports with a 7.5% share, followed by Poland (6.3%), Hungary (5%) and the Netherlands (4.9%).

From 2013 to 2024, the biggest increases were recorded for Hungary (with a CAGR of +250.1%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest wheat starch supplying countries worldwide were Belgium ($102M), Austria ($86M) and Australia ($57M), with a combined 48% share of global exports. Lithuania, Germany, Poland, the Netherlands and Hungary lagged somewhat behind, together comprising a further 33%.

Hungary, with a CAGR of +202.6%, saw the highest growth rate of the value of exports, in terms of 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 wheat starch export price amounted to $593 per ton, dropping by -13.5% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 an increase of 56%. As a result, the export price attained the peak level of $688 per ton. From 2023 to 2024, the average export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Belgium ($773 per ton), while Lithuania ($390 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Belgium (+3.0%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform