Global corn starch market is expected to register a CAGR of 6.35% during the forecast period, 2019 - 2024.
- Paper industry utilizes corn starch as filler and sizing material. It also finds application in textile, laundry, foundry, air flotation, oil-well drilling, and adhesives. While much of starch is employed in its natural form, it is also easily converted to other forms. Most corn starch is made into starch syrups and the balance is made up of native and modified starches.
- The factors that affect the demand for starch mainly include population growth and industrial development of a country; specifically the food and beverage, textiles, paper and printing, pharmaceuticals and other health and beauty products, and adhesives.
- The demand for corn starch is on a rise in Asia-Pacific. Adoption of clean label ingredient and growing consumer awareness in the developing countries are factors governing the bolstering demand for corn starch.
Scope of the Report
Global corn starch market is segmented by type and application. On the basis of product type, the global corn starch market can be segmented into native, modified, and sweetener. By application, food and beverage segment formed the largest market for corn starch market. The use of corn starch as a thickener, binder, etc. in food industry is fuelling the demand of corn starch among the food manufacturers. Moreover, the study provides an analysis of the corn starch market in the emerging and established markets across the world, including North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
Key Market Trends
Increase in Demand for Clean Label Products
The trend of clean label ingredients and products is drastically impacting food and beverage as well as other industries operating across the globe. The rising health consciousness among the consumers and the high demand for the natural, pure, and high quality products have generated the demand for the clean label starches. Also, with the global economy gradually improving and resulting in an increased intake of processed and convenience foods, the market for modified starch, which finds substantial usage in these food applications, is finding increased demand, thereby driving the overall corn starch market.
North America Holds the Major Share in Corn Starch Market
North America maintains the leading position in the global corn starch market, due to the high consumption of processed and instant food products in the region. The United States formed the largest market in the region. The abundance of corn as a raw material in the country and the low prices of the corn starch is the key driver fuelling the growth of the corn starch industry in United States market. On the other hand, Asia-Pacific is expected to grow at the highest CAGR during the forecast period (2019-2024). The rising population and increase in disposable income among consumers in emerging countries such as China, India, and Brazil are expected to have a positive impact on the regional Asia Pacific and South America corn starch market. Brazil is also the third largest producer of corn in the world.
The key brands are embarking on mergers and acquisitions and new product development as some of their key strategies to achieve consolidation and optimize their offerings respectively. Major players in the market are Cargill Incorporated, Ingredion, Archer Daniels Midland Company, Tate & Lyle, Roquette, Riddhi Siddhi Gluco Biols Ltd., Gulshan Polyols Ltd, Südzucker, Associated British Foods plc, Grain Processing Corporation, Akzo Nobel NV, and Bayer AG.
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