SMS

What SMS does

SMS Corporation Company Limited, founded in 1985 and headquartered in Pathum Thani, Thailand, is a global manufacturer of modified tapioca starch serving food, pharmaceutical and nutraceutical, paper, adhesive, construction, healthcare, personal care, textile, and bioplastic industries. The company operates a 600,000 tons/year production capacity across its Pathum Thani and Buriram facilities, backed by four dedicated Innovation Centers (Food, Pharmaceutical, Protein, Paper & Industrial) and a vertically integrated cassava supply chain through its 1993-launched Farmer Membership System. SMS pioneered waxy tapioca starch manufacturing globally in 2009 and commercialized the technology in 2016, and in December 2025 became Thailand's first EXCiPACT-certified tapioca starch manufacturer, enabling pharmaceutical-grade excipient exports supported by USFDA Drug Master File and USP/EP/IP/BP compliance.

The company's product portfolio is organized into branded series spanning modified food starches (KREATION, KREAMERY, NATURA, I-MEATEX, S-TEX, GENIGEL), pharmaceutical excipients (TAPIOPHARM, DAVAMED), industrial starches for paper and adhesives (EXCELCAT, EXCELBOND, BIOGUM, KLIC), construction additives (EXCELCON), bioplastic resins (TAPIOPLAST), and the recently launched COSMENA series for cosmetics. SMS generates revenue through B2B product sales of these modified starch grades using quote-based pricing, distributed via a global distributor network in 40+ countries supplemented by direct technical sales to large manufacturers and a tiered Solution Partner program. The company is a privately held subsidiary of the diversified Thai conglomerate Poonphol Group, has grown organically over 40 years without external venture or private equity funding, and reported 501-1,000 employees as of the most recent disclosure.

Name

SMS

Legal name

SMS Corporation Company Limited

Website

https://smscor.com

Company type

Private

Founded year

1985

Operating status

Operating

Headcount range

501–1,000 employees

Short description

SMS Corporation Company Limited is a Thailand-based, globally operating modified tapioca starch manufacturer serving food, pharmaceutical, paper, adhesive, construction, bioplastic, and cosmetics industries across 40+ countries, with 600,000 tons/year capacity and proprietary waxy tapioca technology.

Ownership category

akta.pro rank

Product category

Modified Starch Manufacturing

NAICS

Starch and Vegetable Fats and Oils Manufacturing (31122), Wet Corn Milling and Starch Manufacturing (311221)

SIC

Grain Mill Products (2040), Food And Kindred Products (2000)

akta.pro primary industry

Modified Food Starches (Acetylated, Crosslinked, Pregelatinized, Dextrins) (AFAJABAA)

akta.pro secondary industries

Starch-Based Stabilizers (Native/Modified Starches, Dextrins) (AFAJACAG), Starch-Based Thickeners (Native & Modified Starches, Dextrins) (AFAJAMAA), Starches, Flours & Milling Products Trading/Wholesale (AFAIAKAH), Native Starches & Flours (Corn, Potato, Tapioca, Wheat, Rice) (AFAJABAB)

Keywords

• Modified tapioca starch
• Pharmaceutical excipients
• Food starch ingredients
• Bioplastic resins
• Industrial starch adhesives

Headquarters

HQ city

Lat Lum Kaeo

HQ country

Thailand

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Modified Tapioca Starch Products: SMS generates revenue through manufacturing and selling modified tapioca starch products across food, pharmaceutical, and non-food industries. Products are sold through a global distributor network and direct sales to manufacturers. Revenue is derived from product volume sales with various product grades and specializations.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

SMS Corporation manufactures and globally distributes modified tapioca starch products through chemical and physical modification processes. The company supplies functional starch ingredients and excipients to food manufacturers (bakery, dairy, frozen food, snacks, beverages, plant-based alternatives), pharmaceutical and nutraceutical companies (tablet binders, capsule shell materials, disintegrants), and non-food industries including paper, adhesives, construction, textiles, healthcare, personal care, and bioplastics. Production capacity is 600,000 tons per year, serving more than 40 countries.

Product overview

SMS Corporation Company Limited is a global manufacturer and distributor of premium modified tapioca starch, serving diverse industries since 1985. The company's product portfolio centers on modified tapioca starch solutions with distinct product lines: TAPIOPHARM™ series (SC30, SC, DP3, E35, E80, DPL, L8, LY, SG) and DAVAMED™ C1 for pharmaceutical and nutraceutical excipients for tablet, capsule, and liquid formulations; industrial starches including EXCELCAT®, EXCELBOND®, EXCELPLUS, EXCELSIZE, KLIC, PROMPTSIZE, EXCELCOAT, and PROMPTCOAT series for paper, packaging, and coating applications; TAPIOPLAST® TPS bioplastic resins (CG41-D, CM30, CS25) for biodegradable plastic applications; food ingredients such as KREAMERY®, S-TEX®, I-MEATEX™, NATURA®, GENIGEL®, SAUCETEC, LYTETEC®, D-PERSE®, KREATION® and waxy tapioca starch; COSMENA Series for cosmetics and personal care; and construction solutions including EXCELCON and starch ethers. The company also produces industrial adhesives (BIOGUM, SMS carrier starches, POLYMER LA7711C) for corrugated board, gummed tape, gypsum wallboard, and paper sack applications. Serving food, pharmaceutical, paper, adhesive, construction, healthcare, personal care, textile, and bioplastic industries worldwide.

Differentiator

Problem solved

Functional benefit

Brands

• YES BIO: Compostable food packaging solutions for environmentally responsible alternatives for food and beverage sectors.
• DAVAMED™
• TAPIOPHARM™
• TAPIOPLAST®
• I-MEATEX™
• S-TEX® Series
• KREAMERY®

Products and services

• TAPIOPHARM™ SC30 Specialized modified tapioca starch for soft capsule shell manufacturing. Improves capsule shell strength, ensures capsule integrity, optimizes capsule filling processes, and enhances uniform content distribution and disintegration for active ingredient release. Designed for pharmaceutical manufacturers.
• TAPIOPHARM™ SC Advanced formulation that fully replaces gelatin with a modified tapioca starch hydrocolloid blend. Plant-based, allergen-free alternative for soft capsules without compromising performance. For pharmaceutical manufacturers seeking non-gelatin capsule options.
• DAVAMED™ C1 Multifunctional direct compressible excipient made from partially pregelatinized corn starch. High-performance filler for tablet manufacturing with improved powder flow and uniform content distribution. Compliant with USP, EP, IP, BP standards and supported by USFDA Drug Master File.
• TAPIOPHARM™ DP3 Tapioca maltodextrin multifunctional excipient for pharmaceutical and nutraceutical formulations. Acts as filler, flowability enhancer, and offers high solubility for active ingredient dissolution in hard capsules and tablets.
• TAPIOPLAST® TPS Functional bioplastic resin derived from natural cassava, engineered for fast biodegradation. Verified under DIN EN 13432:2000-12 and ISO 17088:2012 from DIN CERTCO, Germany (Registration no. 7W0435). For bioplastic manufacturers producing biodegradable plastic products.
• KREAMERY® B7 Waxy tapioca starch solution for yogurt applications. Acts as thickener and stabilizer with excellent resistance to shear, acid, heat, and freeze-thaw processes. Prevents syneresis while providing glossy appearance. For dairy manufacturers.
• S-TEX® Series Range of modified starches designed for each stage of fried food coating process. Includes predusting starch S-TEX® A207 and post-breading solution S-TEX® SP3. Can replace 25-100% of wheat flour. For food coating manufacturers.
• I-MEATEX™ SKV Award-winning modified tapioca starch for plant-based salmon applications. Features realistic salmon-like texture and excellent freeze-thaw stability. Vegan-friendly formulation. Winner of Plant-Based Manufacturing of the Year at Gulfood Manufacturing Awards 2025. For plant-based food manufacturers.
• Waxy Tapioca Starch Solutions Modified tapioca starch with nearly 100% amylopectin structure offering superior clarity, high freeze-thaw stability, processing stability against heat/acid/shear, and bland taste. For food manufacturers across diverse applications.
• COSMENA Series Multifunctional tapioca starch solution for cosmetics and personal care. Natural replacement for talc and aluminum-based ingredients with oil absorption, sensory enhancement, formulation stability, and Halal-certified quality. For cosmetics and personal care manufacturers.
• EXCELCAT® Series Wet-end starches that improve tissue paper quality and lower production costs by optimizing recycled fiber usage and starch applications. Enhances internal strength, fine retention, and drainage. For paper manufacturers.
• SMS C200, SMS C300, SMS GREEN416 (Carrier Starches) Modified tapioca carrier starches for corrugated board production with good water retention, stable viscosity, faster green bond development, and increased machine efficiency. For corrugated board manufacturers.
• BIOGUM 15, BIOGUM 25 Tapioca-based starch adhesive for gummed paper tape production with stable glue viscosity, high solids content, fast drying, strong tack, and excellent machine runnability. For tape manufacturers.
• Natura® Series Functional native starches for clean label food products. Provides texturizing and thickening performance while maintaining original flavor and taste. Includes Natura STN, Natura One, Natura Y68 variants. Non-GMO certified. For food manufacturers seeking clean label solutions.
• KREATION® Series Modified tapioca starch solutions for various food applications including meat products, frozen foods, snacks, and gelatin replacement. Includes KREATION D8, KREATION 10CL, KREATION M2, KREATION A115. For food manufacturers.
• GENIGEL® Series Cold water swelling starch for pre-mix products, improving stability, softness, chewiness texture, moisture retention, and shelf life. For convenience food manufacturers.
• EXCELCON 300, EXCELCON A850 Starch ether providing thickening, anti-sagging and anti-slipping properties to mortars with excellent workability for skim coat and wall tile adhesive applications. For construction materials manufacturers.

Quantifiable outcome

• 600,000 tons/year production capacity
• +4 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Seven partnerships are on record, tiered core and supporting.

• Thai Pharmaceutical Manufacturers Association (TPMA)coreStrategic or Co-development Partner · 22 April 2026SMS, as a TPMA member, hosted an exclusive seminar and site visit for TPMA members to explore collaborations strengthening Thailand's pharmaceutical industry through locally produced starch-based excipients. Dr. Werawat Lertwanawatana shared SMS's six-year journey in pharmaceutical excipient development.
• EXCiPACT Certification BodycoreOthers · 11 December 2025SMS received EXCiPACT certification for pharmaceutical excipient manufacturing—the first tapioca starch manufacturer in Thailand to achieve this. The certification required seven years of dedicated work and positions SMS among top starch-based excipient manufacturers globally.
• TTDI (Thailand Tapioca Development Institute)supportingStrategic or Co-development Partner · 23 September 2024TTDI developed CMD-resistant cassava varieties by 2023. SMS Group received CMD-resistant stems from TTDI for distribution to farmers, supporting the CMD-Free Future initiative for Thai farmers.
• YES BIOcoreStrategic or Co-development PartnerYES BIO is a brand under SMS Group showcasing compostable food packaging solutions. Products are developed to provide environmentally responsible alternatives for food and beverage sectors, featuring biodegradable packaging solutions made from tapioca-based materials.
• IITA (International Institute of Tropical Agriculture)supportingStrategic or Co-development PartnerCollaborated with TTDI and KU to develop CMD-resistant cassava varieties to address Cassava Mosaic Disease affecting Thailand's cassava industry since 2021.
• KU (Kasetsart University)supportingStrategic or Co-development PartnerPartnered in the development of CMD-resistant cassava varieties to support Thailand's cassava industry sustainability.
• Poonphol Group (Parent Company)coreOthersSMS Group is a subsidiary company of Poonphol Group. Poonphol Group's management teams, including Managing Director Mr. Danai-Thanit Bisalputra, participate in SMS events including groundbreaking ceremonies.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Roquette: French-headquartered global leader in starch and polyol manufacturing, with a strong modified starch portfolio for food, nutrition, and pharmaceutical excipients (e.g., PEARLITOL, starch derivatives). Directly comparable to SMS in pharma excipient capabilities and modified starch innovation.
• Tate & Lyle: UK-listed specialty food and beverage ingredients company with a leading modified starch platform serving food, beverage, and nutrition customers. Comparable to SMS in modified starch functionality, formulation support, and clean-label positioning for B2B food manufacturers.
• Emsland Group: Germany-based modified starch specialist producing starch derivatives from potatoes and other raw materials for food, snack, meat, and industrial customers. Closely comparable to SMS in modification expertise, application engineering, and B2B distribution.
• Ingredion Incorporated: Global ingredient solutions company producing modified waxy corn starches and other specialty starches for food, beverage, and industrial applications. Directly competes with SMS in modified starch categories and pharmaceutical/nutraceutical excipients, with significantly larger geographic reach and multi-feedstock flexibility.
• AVEBE: Netherlands-headquartered starch specialist producing modified potato starches and derivatives for food, animal nutrition, paper, and industrial markets. Comparable to SMS as a starch-only specialist with innovation centers focused on functional modification and clean-label solutions.
• AGRANA: Austrian starch, sugar, and fruit processing company operating modified starch production for food, industrial, and feed markets. Comparable to SMS in starch modification, multi-application breadth, and European/global manufacturing footprint.
• Shandong Bailong Chuangyuan Bio-tech: China-based manufacturer of starch-based products including modified starch, maltodextrin, and pharma-grade excipients (such as pregelatinized starch). Comparable to SMS in pharma-grade starches (DAVAMED™-like direct compression excipients) and Asian manufacturing scale.
• Manildra Group: Australian wheat-starch specialist producing modified starches, gluten, and specialty ingredients for food, beverage, and industrial customers. Comparable to SMS as a feedstock-dedicated starch modifier with deep formulation support, though focused on wheat rather than tapioca.

Broad incumbents

• Archer-Daniels-Midland (ADM): Global food and nutrition company with extensive starch, sweetener, and ingredient capabilities serving food, beverage, and industrial customers. Overlaps broadly with SMS's modified starch portfolio but as part of a much wider agribusiness and nutrition conglomerate.
• Cargill, Incorporated: Global agricultural commodity giant with a deep food ingredients platform including modified starches and sweeteners. Overlaps with SMS in modified starch categories, but operates as a diversified incumbent across many other commodities and feedstocks.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/watch?v=qYxLinUoTkc
• Facebookfacebook.com/smscor
• LinkedInlinkedin.com/company/smscor

Compliance13 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SMS