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Region : Global | Published Date: Aug, 2019 | Report ID: FBI101093| Status : Published
The Global Corn Starch Market was valued at US$ 15.73 Bn in 2018 and is projected to reach US$ 29.39 Bn by the end of 2026, exhibiting a CAGR of 8.2% in the forecast period. The growing demand for convenience food in recent years has necessitated the increased use of starch and its derivatives. Starches are increasingly utilized as a food additive in various applications such as thickening of sauces, moulding of gums, viscosity-control agent to the binding of baking ingredients. Such functional properties of starches are contributing to the growth of the market.
Additionally, the functional superiority of modified starches has rapidly expanded its application spectrum across the diverse range of applications. Corn is the major raw material in production of starch and starch derivatives and corn starch accounts for a significant share in the starch market compared to the starch derived from other raw materials such as rice, potato, cassava, and others.
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The global corn starch market is expected to grow at a significant rate due to its wide range of applications in food, feed, and industrial use. Corn starch is added to the food products as it helps to thicken and stabilize the food products. A major part of corn starch also goes for the production of sweetener. There are other types of corn starch as well which is native corn starch and modified corn starch.
Usage of other source derived starches such as potato starch, tapioca starch, rice starch, and other starches is expected to hamper the growth of corn starch.
The Sweetener Type Segment is Expected to Hold the Largest Share in the Corn Starch Market
By the type segment, the sweetener sub-segment is expected to hold the largest share in terms of value throughout the forecast years from 2019 to 2026. This is owing to the increase in awareness regarding the consumption of sweeteners in most of the regions. The sweeteners derived from corn starch are used by most of the food manufacturers as they are cost-efficient.
According to Starch Europe, in the year 2017, almost half of the global corn starch market accounted to be held by the sweeteners type. Sweeteners segment held a 54% share in the corn starch market followed by Native starch and modified starch.
Increased Demand for Organic and Clean-label Products Among the Consumers
Increased preference of consumer for the organic and clean-label products is supporting the growth of the corn starch market. Considering the rise in the health-conscious consumer's demand for clean-label and organic products, the manufacturers are launching various new products to capture their share in the growing market.
In July 2018, Ingredion Incorporated launched a new corn starch product which is organically certified. This product has been launched under its functional and clean-label portfolio. The company launched this product to meet the customer demand for organic, and clean-label products.
In August 2017, Tate and Lyle Plc launched a new clean-label corn starch under its brand name CLARIA. This product is for food manufacturers to develop food products using organic ingredients.
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North America is Expected to hold the Largest Share
North America is expected to grow at a CAGR of 8.57%, and is expected to hold the largest value share throughout the forecast period. U.S. is the largest producer of corn and its derivatives, globally. Increase in the consumption of convenience food and RTE snacks is also one of the factors which helps in the growth of the corn starch market. Asia Pacific region is projected to witness strong growth during the forecast period due to growing demand for bakery and snack products.
Major Players in the Global Corn Starch Market
The manufacturers are capitalizing on improving the functionality of corn starch ingredients to cater to the rising demand from end-user industries. Ingredion Incorporated, Tate and Lyle Plc, Cargill Incorporated, AGRANA – Beteiligungs AG, Archer-Daniels Midland Company. These companies have invested in capacity expansion and research and development activities in order to offer new variants of corn starch ingredients for a growing market.
Other players operating in the corn starch market are Bio-chem Technology Group Company Limited, Tereos Syral S.A.S, Associated British Foods plc, Roquette Frères S.A., Kent Corporation (Grain Processing Corporation), and Riddhi Siddhi Gluco Biols Ltd.
North America Corn Starch Market Share, 2018
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Corn starch is also called as maize starch which is derived from the corn grain. It is used as the food ingredient that is useful in making corn syrup and other sugars and thickening soups and sauces. Corn starch is used in various industries for manufacturing latex materials such as gloves, and diaphragms. Medically, cornstarch is useful for maintaining the glucose level in the body of those people who suffer from glycogen storage disease. Corn starch is used as an industrial starch for manufacturing paper and used in the textile industry for offering stiffness to clothes.
The report on corn starch provides both quantitative and qualitative insights into the industry. A detailed analysis of the corn starch market in terms of market size and growth rate for all the segments. The corn starch market is segmented by nature, type, end use, and geography.
In terms of type, the global corn starch market is segmented as native starch, modified starch, and sweeteners. On the basis of nature, the global corn starch market is segmented into organic and conventional. On the basis of end use the global corn starch market is segmented into food and beverage manufacturers, animal feed additives, paper and board, and others. In terms of geography, the corn starch market is segmented into five main regions such as North America, South America, Europe, Asia Pacific, South America, and the Middle East and Africa.
Along with this, the corn starch market report provides an elaborative analysis of the market dynamics such as drivers, restraints, opportunities, and trends in the corn starch market. A brief competitive landscape is provided. There are various key insights which are provided along with the report such as an overview of the corn starch market, health benefits of corn starch, recent developments in the industry which includes product launches, major mergers and acquisitions, regulatory scenario, trade analysis, and key industry trends.
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· Native Starch
· Modified Starch
By End Use
· Food and Beverage
· Animal Feed
· Paper and Board
· North America (U.S., Canada, and Mexico)
· Europe (U.K., Germany, France, Italy, Belgium, Spain, Russia, and Rest of Europe)
· Asia Pacific (China, Australia, India, Japan, and Rest of Asia Pacific)
· South America (Argentina, Brazil, and Rest of South America)
· Middle East & Africa (South Africa, UAE, and Rest of the Middle East & Africa)