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The rising knowledge about multi-functional properties of corn starch is the chief factor driving The Global Corn Starch Market. Fortune Business Insights in a new study, titled “CORN STARCH: GLOBAL MARKET ANALYSIS, INSIGHTS AND FORECAST, 2019-2026” offers valuable insights into the global market. Rapidly changing lifestyle has increased the demand for convenience foods over the years. This is further necessitating the use of starch and its byproducts. As per the report, the global market is anticipated to rise at a CAGR of 8.2% during the forecast horizon. In 2018, the market was valued at US$ 15.73 Bn and is likely to reach US$ 29.39 Bn by 2026.
Starches are used as a food additive and help to mold gum candies and thicken sauces. Starches are majorly used for baking as they help to control the viscosity. Among different starches, corn starch accounts for the majority of the share in the starch industry. Corn is the main raw material used for the production of starch and its byproducts. Corn starch is used across several applications which include feed, industrial use, and food. It ensures to maintain stabilization and thickness of food products. Among corn starch types, the sweetener is expected to cover the maximum share in the global corn starch market between 2019 and 2026. This is ascribable to the increasing awareness about the consumption of sweeteners. Several food manufacturers prefer to use sweeteners derived from corn starch as they are cost-effective. As per Starch Europe, sweeteners cover 54% of the share in the global corn starch market in 2017. This is followed by other two types of corn starch which include native starch and modified starch.
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Companies are Investing in R&D Activities to Expand Their Product Offerings
Companies such as Archer-Daniels Midland Company, Ingredion Incorporated, Cargill Incorporated, Tate and Lyle Plc, and AGRANA – Beteiligungs AG are investing in research and development (R&D) activities to broaden their product portfolio. In addition to this, companies are also planning to enhance the functionalities of corn starch in order to fulfil the needs of customers. Ingredion launches a new clean-label and organic corn starch product in July 2018. This aim of the company to cater to the specific requirements of their customers as the majority of them prefer organic products. Tate and Lyle Plc announced the launch of a new clean-label product called CLARIA. This product is aimed to help food manufacturers develop food products by using organic ingredients.
The report profiles some of the leading companies functioning in the global corn starch market. These include Bio-chem Technology Group Company Ltd., Associated British Foods plc, Roquette Frères S.A., Riddhi Siddhi Gluco Biols Ltd., Kent Corporation (Grain Processing Corporation), and Tereos Syral S.A.S.
Growing Number of Health-conscious Consumers Augments Demand for Organic Corn Starch
The rising demand for organic and clean-label products is rapidly transforming the food and beverage industry. People around the world are increasingly becoming health-conscious, which is fueling demand for clean-label corn starches. Consequently, companies are also focusing to develop natural and pure corn starch products. This, in turn, is expected to enable growth in the market in the forthcoming years.
Corn starch is used across several industries which include animal feed, paper and board, and food and beverage. It is predominantly used to manufacture diaphragms and gloves. This is expected to increase demand for corn starch powder, which will eventually drive the market. Medically, corn starch is used to maintain the glucose levels of a human body, especially those suffering from glycogen storage disease. Driven by the rising prevalence of diabetes, the demand for corn starch in the medical sector is likely to increase in the forecast period. Corn starch is also used in the textile industry for offering stiffness to clothes. Spurred by these uses, the demand for corn starch is projected to increase. All these applications are expected to act as potential growth enablers in the market.
The global corn starch market can be segmented into the following categories:
By End Use