0
2020
Corn Starch Market

Corn Starch Market

by Type (Modified, Native, and Sweetener), Application (Food Ingredient, Pharmaceutical, and Others) and Form (Powdered and Liquid): Global Opportunity Analysis and Industry Forecast, 2021-2027
Update Available On-Demand

Report Code: A07194
Pages: 240
Sep 2020 | 5099 Views
Author(s) : Sumesh K , Roshan D
Tables: 102
Charts: 42
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The global corn starch market size was valued at $13,671.6 million in 2019, and is projected to reach $17,066.2 million by 2027, registering a CAGR of 6.4% from 2021 to 2027. The sweetener segment was the highest contributor to the market in 2019, and is estimated to grow at a CAGR of 5.6% during the forecast period. Asia-Pacific was the highest revenue contributor, accounting for almost half of the global market share 2019, and is estimated to grow at a CAGR of 7.5% through the forecast period.  

Corn starch, also known as corn flour and maize starch, is derived from corn through the process of wet milling, steeping, grinding, purifying, and drying. Corn starch is widely adopted as a staple food ingredient across the globe. In addition, it is extensively used in packaged food and food processing industries. Extracted from the kernel of corn, maize starch imparts superior texture, enhanced viscosity, and other desired properties to food products ranging from microwaveable goods to canned chilled frozen extruded snacks and dry mixes. Furthermore, it is extensively used as a gelling agent and thickening agent for sauces and puddings soups. Moreover, it serves as an economical option over other property enhancers, which fuels its demand, thereby boosting the growth of the global market.

Corn-Starch-Market-2021-2027

Corn starch is included in the category of products that is purchased by consumers frequently. Hence, the demand for such products remains consistent among consumers. However, the outbreak of the novel coronavirus has significantly affected the growth of the corn starch market, globally. Slight decline has been witnessed in the sale of corn starch products due to the disruption of supply chain and reduction in the out-of-home consumption of food during the pandemic.

The growth of the global corn starch market is driven by changes in the food consumption pattern of people all around the world. In addition, expansion of the retail market and easy availability of products through various sales channel make it convenient for the consumers to purchase corn starch and products made using corn starch as  a key ingredient, which notably contribute toward the growth of the global market.

However, availability of a number of substitute such as pea starch and rice starch and increase in concern among consumers about the negative effects of starch-rich diet act as the major restraints for the corn starch market. On the contrary, rise in popularity for resistant corn starch and clean label products is expect to offer remunerative opportunities for the expansion of the global market during the forecast period.

The global corn starch market is segmented into type, application, form, and region. Depending on type, the market is fragmented into modified, native, and sweetener. The applications covered in the study include food ingredient, pharmaceuticals, and others. On the basis of form, the market is bifurcated into powder and liquid. Region wise, it is studied across North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).

Corn Starch Market
By Type

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Sweetner was the dominent segment throught the forecast.

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Based on the corn starch market analysis by type, the sweetener segment accounted for the highest share in 2019. The growth of this segment is attributed to surge in demand of corn starch as an alternative sweetener in the food & beverage industry. However, the modified segment is expected to witness the fastest growth rate throughout the forecast period. This can be attributed to rise in adoption of modified corn starch as emulsifiers in the food & beverage industry, as disintegrant in the pharmaceutical industry, and as a binder in the paper industry.   

Corn Starch Market
By Application

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Food Ingredient was the fastest growing segment.

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Based on the corn starch market forecast by application, the food ingredient segment garnered the largest share of the global market in 2019, and is anticipated to dominate the market throughout the forecast period. This is attributed to increase in adoption of corn starch as food ingredient in the food service sector. Moreover, rise in number of food outlets, quick service restaurants, and cafés  has driven the market for corn starch. On the contrary, the reduction of out-of-home consumption of food & beverages due to the ongoing pandemic and implementation of lockdown has negatively impacted the market growth in 2020. However, the others segment is expected to witness robust growth of 4.6% through the forecast period. This is attributed to rise in demand for paper all around the world. Moreover, increase in the demand for cosmetic products and rise in sale & production of textile drive the corn starch market growth.

Corn Starch Market
By Form

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Powder was the fastest growing segment.

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Depending on form, the liquid segment in the global corn starch market accounted for the highest share in 2019. The growth of liquid segment is driven by rise in adoption of liquid corn starch in the textile industry coupled with increase in production of garments all over the world. However, the powder segment is anticipated to the witness notable growth in the coming years, owing to increase in use of powdered corn starch in cosmetics and pharmaceutical products such as tablets and baby powder.

Corn Starch Market
By Region

2027
Asia-pacific 
North America
Europe
Lamea

Asia-Pacific was the fastest growing regional segment.

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Region wise, Asia-Pacific was the most prominent region in the corn starch market in 2019, and is expected to garner high growth rate during the forecast period. This is attributed to the fact that high economic growth in the Asia-Pacific countries has influenced the lifestyles and the consumption patterns of consumers. People in this region have started consuming more packaged food and beverages, which, in turn, has boosted the demand for products made from corn starch over the years. However, North America is expected to witness steady growth rate throughout the forecast period, owing to presence of a large number of local players in the region.

The players in the global corn starch market have adopted product launch as their key development strategy to increase profitability and strengthen their foothold in the global corn starch market share. The key players profiled in the report include Archer Daniels Midland Company, Associated British Foods Plc, AGRANA - Beteiligungs AG, Cargill, Inc., Ingredion Incorporated, Tate & Lyle PLC, Roquette Frères S.A, Hodgson Mill, ACH Food Companies, and Global Bio-Chem Technology Group Company Limited.

Key Benefits For Stakeholders

  • The report provides a quantitative analysis of the current corn starch market trends, estimations, and dynamics from 2019 to 2027 to identify the prevailing opportunities.
  • Porter’s five forces analysis highlights the potency of the buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
  • In-depth analysis and the market size and segmentation assist to determine the prevailing market corn starch market opportunities.
  • The major countries in each region are mapped according to their revenue contribution to the market. 
  • The market player positioning facilitates benchmarking and provides a clear understanding of the present position of the key players in the corn starch industry.

Corn Starch Market Report Highlights

Aspects Details
By Type
  • Modified
  • Native
  • Sweetener
By Application
  • Food Ingredient
  • Pharmaceutical
  • Others
By Form
  • Powder
  • Liquid
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, UK, France, Italy, Spain, Rest of Europe)
  • Asia-Pacific  (China, India, Japan, South Korea, Australia, Rest of Asia-Pacific)
  • LAMEA  (Lain America, Middle East, Africa)
Key Market Players Archer Daniels Midland Company, Associated British Foods plc, Beteiligungs AG, Cargill, Inc., Ingredion Incorporated, Tate & Lyle PLC, Roquette Frères S.A, Hodgson Mill, ACH Food Companies, Global Bio-Chem Technology Group Company Limited
 

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A significant change has been witnessed in consumer lifestyle, which has affected the food consumption pattern around the globe. Presently, food preparation at home is considered as a time-consuming process, owing to increase in female workforce, long working hours, and rise in consumer income. Moreover, change in eating habits and busy lifestyle are increasing the consumption for convenience food, which, in turn, is anticipated to drive the growth of the global corn starch market.

Corn is traditionally considered as the major raw material for the production of starch. It has gained wide traction in the last few years in various sectors due to its multiple usability. Apart from being used as a thickening agent in food, it is used in textile production as stiffener and as a dissolvent in the pharmaceutical sector.

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FREQUENTLY ASKED QUESTIONS?

A. The global corn starch market size was valued at $13,671.6 million in 2019

A. The forecast period in the Corn Starch Market report is 2021-2027.

A. The base year for the report is 2019.

A. The key players profiled in the report include Archer Daniels Midland Company, Associated British Foods Plc, AGRANA - Beteiligungs AG, Cargill, Inc., Ingredion Incorporated, Tate & Lyle PLC, Roquette Frères S.A, Hodgson Mill, ACH Food Companies, and Global Bio-Chem Technology Group Company Limited.

A. Based on type, the sweetener segment accounted for the highest share in 2019 and is the most influencing segment growing in the corn starch market.

A. Asia-Pacific was the most prominent region in the corn starch market in 2019

A. The company profiles have been selected based on the product they offer.

A. The global corn starch market size was valued at $13,671.6 million in 2019.

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