Corn Starch Market Report 2024 | Size, Share, and Demand Forecast by 2032
Corn Starch Industry
Summary:
- The global corn starch market size reached 86.4 Million Tons in 2023.
- The market is expected to reach 106.3 Million Tons by 2032, exhibiting a growth rate (CAGR) of 2.3% during 2024-2032.
- The United States leads the market, accounting for the largest corn starch market share.
- Sweeteners represent the majority of the market share in the category segment as they contribute to the preservation and extension of the shelf life of many food products.
- Food & beverages hold the biggest share in the corn starch industry.
- The rising demand in the food and beverage (F&B) sector is a primary driver of the corn starch market.
- The growth in biofuel production and expansion in industrial applications are reshaping the corn starch market.
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Industry Trends and Drivers:
- Growing Demand in the Food and Beverage (F&B) Industry:
The F&B industry is a major driver of the corn starch market due to its multifunctional role in food preparation and processing. Corn starch acts as a thickener, stabilizer, and texturizer, commonly found in products like soups, sauces, and baked goods. The growing demand for corn starch due to rising preferences for convenience food items, particularly among people with busy lifestyles, is offering a favorable market outlook. This trend is further propelled by the increasing popularity of processed and ready-to-eat (RTE) food items among consumers across the globe. Health trends emphasizing gluten-free and allergen-free diets are also promoting corn starch as a suitable alternative to wheat-based thickeners. Moreover, there is a rise in the need for low-calorie and functional ingredients among health-conscious consumers.
- Growth in Biofuel Production:
Corn starch has become an essential feedstock in bioethanol production. The rising focus on sustainable energy to reduce greenhouse gas (GHG) emissions is impelling the market growth. Bioethanol derived from corn starch is widely used in fuel blending, especially in countries with strong biofuel mandates, such as the United States and Brazil. Besides this, governing agencies of various countries are focusing on investing in renewable energy, which is contributing to the market growth. Additionally, advancements in biofuel production processes aid in improving efficiency while reducing production costs, thereby making corn starch an even more attractive option. This sustainable application not only strengthens the biofuel industry but also supports agricultural economies reliant on corn.
- Expansion in Industrial Applications:
Corn starch’s versatility is leading to its adoption in various industrial applications, where it serves functions like binding, filling, and coating. In the paper industry, it is used to improve paper quality by enhancing strength and smoothness, while in textiles, it serves as a sizing agent that strengthens fabrics. Pharmaceuticals also rely on corn starch as a tablet binder and filler on account of its low allergenicity and biodegradability. The trend toward sustainable and natural materials is catalyzing the demand for corn starch in these sectors as it serves as an eco-friendly substitute for petroleum-based chemicals. As industrial growth continues in emerging markets, particularly in the Asia-Pacific region, the demand for corn starch is expected to rise.
We explore the factors driving the growth of the market, including technological advancements, consumer behaviors, and regulatory changes, along with emerging corn starch market trends.
Corn Starch Market Report Segmentation:
Breakup By Category:
- Native Starch
- Modified Starch
- Sweeteners
Sweeteners account for the majority of shares as they contribute to the preservation and extension of the shelf life of many food products.
Breakup By Application:
- Food & Beverages
- Animal Feed
- Pharmaceuticals & Chemicals
- Textile
- Paper & Corrugates
- Others
Food & beverages dominate the market due to changing dietary patterns of individuals.
Breakup By Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
The United States enjoys the leading position owing to a large market for corn starch driven by the presence of modern processing facilities.
Top Corn Starch Market Leaders:
The corn starch market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies. Some of the key players in the market are:
- Cargill, Incorporated
- Archer Daniels Midland (ADM) Company
- Ingredion Incorporated
- Roquette Frères S.A
- Tate & Lyle PLC
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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