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The global corn starch market size was valued at USD 15.73 Billion in 2018 and is projected to reach USD 29.39 Billion 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 corn starch market size is expected to increase 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 demand for this product.
"The Sweetener Type Segment is Expected to Hold the Largest Share in the 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 this product 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 corn starch market share accounted to be held by the sweeteners type. Sweeteners segment held a 54% share in the global 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 corn starch market growth. 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.
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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 corn starch market 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 market. Asia Pacific region is projected to witness strong growth during the forecast period due to growing demand for bakery and snack products.
North America Corn Starch Market Share, 2018
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"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 product variants for a growing market.
Other players operating in the 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.
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 provides both quantitative and qualitative insights into the industry. A detailed analysis of the corn starch industry growth in terms of market size and growth rate for all the segments. The market is segmented by nature, type, end use, and geography.
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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 market is segmented into organic and conventional. On the basis of end use the global market is segmented into food and beverage manufacturers, animal feed additives, paper and board, and others. In terms of geography, the corn starch industry 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 report provides an elaborative analysis of the corn starch market dynamics such as drivers, restraints, opportunities, and trends in the 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 market, health benefits of the product, recent developments in the industry which includes product launches, major mergers and acquisitions, regulatory scenario, trade analysis, and key industry trends.
By End Use
Fortune Business Insights says that the value of the global Corn Starch Market was USD 15.73 Billion in 2018.
The Corn Starch Market is projected to reach USD 29.39 Billion by 2026.
The Corn Starch Market will grow at the rate of 8.2% CAGR.