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The Corn-Based Ingredients Market is exhibiting decent growth momentum owing to the robust production and consumption statistics – it is a cereal with the highest output worldwide with application spanning across sectors such as food and beverage, animal feed, fuel, and other industrial uses. The increasing focus on quality and label-claims have prompted manufacturers to improve the compositional profiles of their corn-based ingredients – certified, non-GMO, and other superior label claim traits are expected to fetch higher and sustainable sales growth in the foreseeable future.
The global corn-based ingredients market is driven by favorable supply-demand dynamics, which differs significantly from region to region in terms of production and consumption of corn-based ingredients. The ingredients are increasingly processed due to abundant availability of raw materials and demand from broad application areas.
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The health-benefits and high process-ability of these ingredients are complementing the growth of the market. The price disruptions of raw material and growing replacement of corn-ingredients with other suitable cereal grains is a significant impediment to the global marketplace.
Some of the key companies that are present in the global corn-based ingredients market are Cargill Incorporated, POET LLC, The Archer Daniels Midland Company, Bunge Limited, Tate & Lyle PLC, SunOpta Inc., Ingredion Incorporated, Limagrain Céréales Ingrédients, Roquette, VIVESCIA group, Gulshan Polyols Limited, and Valero Energy Corporation. The manufacturers are capitalizing on improving the functionality of these ingredients to cater to the rising demand from end-user industries such as confectionery, bakery, and other processed food sectors.
· Corn Starch
· Feed Ingredients (Corn Germ Meal, Corn Gluten Meal, and Others)
· Corn Oil
· Fuel Ethanol
· Animal Feed
· Processed Foods & Beverages
· Fuel (Ethanol)
· North America (U.S., Canada, and Mexico)
· Europe (France, Germany, Italy, Spain, U.K., Russia, and Rest of Europe)
· Asia Pacific (China, India, Japan, Australia, and Rest of Asia Pacific)
· South America (Brazil, Argentina, and Rest of South America)
· Middle East & Africa (South Africa and Rest of MEA)
Corn flour is the most widely used corn-based ingredient in the food processing industry, the rise in demand for ready-to-eat products owing to their on-the-go convenience has boosted the sales performance of corn flour. Corn oil is also experiencing higher demand from industrial sectors where it is employed for lubrication purposes.
The animal-feed application sector is dominating in the market as most of the corn harvested in the global marketplace is channelized to produce livestock feed. In many countries, corn is exclusively cultivated for its utilization as a feed ingredient. Processed foods and beverages are another essential application for corn-based ingredients. The food additives sector also utilize corn-based ingredients owing to their multi-functional traits. Right from serving as a bulking agent to starch-based sweeteners, the corn-based ingredients exhibit greater utilization rate in the processed food industry as compared to other cereal grains. The ingredients are also employed in specialty foods such as sports nutrition & weight management products, diabetic nutrition, nutraceuticals, and fortified/functional foods.
North America is one of the leading regional market for corn-based ingredients owing to strong corn production emerging from the United States. It is one of the primary ingredient utilized in the animal feed sector, accounting for more than 95 percent of total feed grain production and use in the U.S. Brazil and Argentina have significant contribution in corn production, but the majority of it is being exported to other consuming countries.
The Asia Pacific is projected to witness one of the fastest growth in the forthcoming years primarily due to the growing demand from different application sectors. China’s reform of its large corn sector has provided greater momentum to the supply-side sentiments of the market. Corn-based sweeteners are increasingly incorporated in soft drinks and other liquid products. The processed non-alcoholic beverages have witnessed strong demand in the Indian subcontinent and other South East Asian countries spurring the utilization of corn-based sweeteners.
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