Global Corn Starch Market is Segmented By Type (Modified corn starch, Native corn starch, Sweeteners), By Application (Pharmaceuticals, Food, Animal Feed, and Beverages, Textiles, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Corn Starch Market Overview
Global Corn Starch Market is expected to reach at a high CAGR of 7.0% during the forecast period (2024-2031). Corn starch is a carbohydrate derived from the endosperm of the corn plant. This white powdery chemical has a variety of uses at home and in various industries. It is used to thicken marinades, sauces, glazes, gravies, soups, pie, casserole and other deserts in the kitchen. Cornstarch is gluten-free since it is produced from corn and solely contains carbs (no protein). It is used in cuisines worldwide, with North America and Asia leading the way in terms of production and consumption.
Corn Starch Market Summary and Scope
|
Metrics |
Details |
|
Market CAGR |
7.00% |
|
Segments Covered |
By Type, By Application, and By Region |
|
Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
|
Fastest Growing Region |
Asia Pacific |
|
Largest Market Share |
North America |
To Get a Free Sample Click here
Corn Starch Market Dynamics and Trends
Rising prevalence of celiac diseases driving the growth of the global corn starch market
The rising prevalence of celiac diseases around the globe leads to a rise in the consumption of gluten-free food items. Based on blood tests and biopsy results, the global prevalence of the celiac disease is estimated to be 1.4 per cent and 0.7 per cent, respectively. As of 2018, celiac disease was found in 0.4 per cent of people in South America, 0.5 per cent of people in Africa and North America, 0.6 per cent of people in Asia, and 0.8 per cent of people in Europe and Oceania as per the celiac diseases foundation per Celiac Disease Foundation. Corn starch, which does not contain gluten and is acceptable to consume by persons with celiac disease, can be used as a natural alternative to wheat starch for various uses in food and beverages. This specific application of cornstarch can drive the global corn starch market.
Additionally, clean label ingredients and products significantly impact the food and beverage industry. Clean label starches are in high demand due to increased consumers' health consciousness and high demand for natural, pure, and high-quality items. Also, with the global economy gradually improving and resulting in an increased intake of processed and convenience foods, the market for modified starch, which finds substantial usage in these food applications, is finding increased demand, thereby driving the overall corn starch market.
However, the availability of numerous substitutes such as pea, wheat rice and increased awareness of consumers about starch-rich diets are restraining the growth of the global corn starch market.
Corn Starch Market Segmentation Analysis
The sweetener segment is predicted to have the greatest share in the corn starch market
According to the type segment, the sweetener segment is predicted to hold the greatest share in terms of value during the forecast years from 2021 to 2028. This is due to a rise in public awareness regarding the consumption of sweeteners in various regions. Most food manufacturers use the sweeteners obtained from corn starch because they are cost-effective. According to Starch Europe, the sweetener type accounted for about half of the starch market share in 2017.
Corn Starch Market Geographical Share
North America is expected to dominate the global corn starch market during the forecast period
The growing number of health-conscious people in the United States has resulted in NorthAmerica corn starch market dominance. The United States is the largest contributor to the regions market share. People are turning to gluten-free diets as the prevalence of obesity in the United States is increasing. Consuming products made of corn starch ensures easy digestion and decreases cholesterol levels. Furthermore, the FDA's restrictions for gluten-free food labelling have assured individuals of the benefits of gluten-free products. Furthermore, the Celiac Disease Foundation estimates that 0.5 per cent of Americans had celiac disease in 2018. The country's abundance production of maize as raw material and the low pricing of corn starch are the primary factors driving the corn starch industry's expansion in the U.S. market. On the other hand, Asia-Pacific is expected to develop at the fastest rate during the forecast period.
Corn Starch Companies and Competitive Landscape
Some of the key market players in the global corn starch industry are Ingredion Incorporated, Tate and Lyle Plc, Cargill Incorporated and Archer Daniels Midland Company among others. The top corn starch manufacturers are significantly investing in research and development (R&D) activities to expand the product's use as an essential raw material for a variety of applications, including animal feed, food and beverage, animal feed, textile, pharmaceutical and chemical products, and paper and corrugated. For instance, Cargill Inc. is investing in a technique that allows the corn to replace fossil fuels as the fundamental constituent of a polymer used to waterproof paper cups and give athleisure garments elasticity. Polymers derived from the chemical 1, 4-Butanediol, or BDO, are responsible for the gleaming finish and elastic fabric. In June 2021, Cargill and Helm, announced the formation of Qore, a $300 million joint venture in Eddyville, Iowa, to make this important polymer ingredient from maize sugars rather than petroleum suitable for non-starch industrial processes, especially in an increasingly resource-constrained market.
COVID-19 Impact on Corn Starch Market
Negative impact on the global corn starch market
These major corn-producing countries have been widely affected by the spread of COVID-19, and have announced lockdowns to counter the pandemic. As a result, the production of corn has been widely affected due to lockdowns and lack of manpower. The COVID-19 outbreak is presenting agricultural challenges to the world's leading corn starch producers. Governments are taking the necessary steps to control and preserve the highest possible yield from agricultural farmlands. Manufacturers of corn starch are facing a shortage of raw material, owing to the reduced production of corn as well as the disrupted supply. Manufacturers of corn starch are facing obstacles, right from procurement of raw material, transport issues, processing of ingredients due to shortage of labor and distribution of the final product.
On the other hand, the domestic corn starch industry, whose capacity utilization is down by nearly 50 per cent owing to the covid-19 lockdown, has found a silver lining in the downstream pharmaceutical space. Although pharmaceuticals account for 10-15% of corn starch supplies, manufacturers are attempting to make up for lost production by increasing offtake, which has been aided by a drop in input corn prices due to this season's bumper crop.
Why Purchase the Report?
- Understand the current market scenario and viability of the global corn starch market over the forecast period.
- Visualize the composition of the global corn starch market in terms of type and application to identify major players, growth potential, and market strategies
- Identify the key regulations prevailing in the market and understand their impact on the market over the forecast period.
- Understand the key business factors such as market competition, product pricing, new product developments, and patent filings pertaining to the market.
What we offer?
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Excel data sheet with valuable data points of the global corn starch market – Regional and Country level segmentation.
- Product mapping in excel for the key products of all major market players
- Market share analysis covering business revenues ($) and revenue share (%) of key market players.
The global corn starch market report would provide access to approximately 45 market data tables, 45 figures and 180 pages.
Target Audience:
- Corn Starch Growers and Processing Companies
- Food Service Industry
- Industry Investors
- Education & Research Institutes
- Research Professionals
