The new report by Expert Market Research titled, ‘Global Corn Starch Market Size, Report and Forecast 2023-2028’, gives an in-depth analysis of the global corn starch market, assessing the market based on its segments like category, applications, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): 78 Million Tons
- Forecast CAGR (2023-2028): 4.0%
- Forecast Market Size (2028): 94.90 Million Tons
The high rate of maize production in the world drives the global corn starch industry. The sector is benefiting from its increased use in the food business. It’s commonly used to thicken foods like gravies, soups, and sauces. It’s also used as a coating in deep-fried foods to give them a crisp texture and baked items to add moisture and fullness. It is unaffected by the transition to gluten-free products because it is gluten-free.
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The bakery industry’s consistent growth is assisting the product’s expansion in the food sector. The global bakery sector was valued at USD 482 billion in 2018. The United States, a significant corn starch market, is also a significant bakery market, which helps the sector. Sweeteners are one of the most important types of maize starch, which is predicted to rise steadily in the coming years.
This business is also being fueled by its increasing use in non-food industries, including textiles and paper. Paper consumption is increasing in nations such as China, the United States, and Japan, which is helping to move the industry forward. It is also employed in the production of latex products like gloves and diaphragms. In the future, increased demand for the product in the biofuels sector is expected to drive market expansion. Global business growth is also being aided by rising population and expanding urbanisation.
Industry Definition and Major Segments
Corn starch, often called maize starch, is a starch made from corn kernels. It’s made from the endosperm of maize kernels. It is widely used in the culinary industry as a thickening ingredient for soups and sauces and the manufacture of corn syrup and sweeteners.
On the basis of category, the industry is divided into:
- Native Starch
- Modified Starch
- Sweeteners
Based on applications, the market can be segmented into:
- Food and Beverages
- Animal Feed
- Pharmaceuticals and Chemicals
- Textiles
- Paper and Corrugates
- Others
On the basis of regional markets, the industry is divided into:
1 North America
1.1 United States of America
1.2 Canada
2 Europe
2.1 Germany
2.2 United Kingdom
2.3 France
2.4 Italy
2.5 Others
3 Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 ASEAN
3.5 Others
4 Latin America
4.1 Brazil
4.2 Argentina
4.3 Mexico
4.4 Others
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.3 Nigeria
5.4 South Africa
5.5 Others
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Market Trends
The United States is the world’s top producer of maize starch. Corn is a major world producer, accounting for 6% of total output, with over a third of that used to produce starches, glucose, and other sweeteners in the EU. In 2017, overall starch production in the EU increased by 1% over the previous year, reaching more than 9.4 million metric tons. Agricultural raw materials for starch manufacture were generated by cooperatives and farmers in the region, totaling over 24 million tonnes. China is one of the world’s largest maize starch consumers, with a significant proportion in processed corn starch end-use sectors such as polyols and high-fructose corn syrup (HFCS).
The feedstock greatly influences corn starch prices. Corn, often known as maize, contributes to roughly three-quarters of worldwide starch production. In 2017, global corn production was around 1044.6 million tons. The United States is a prominent maize grower, accounting for more than 35% of global production. Due to favorable meteorological conditions beneficial to agricultural development, the country saw a record yield in 2017. It is also a significant corn exporter.
Corn consumption has grown steadily over the last few years, owing to increased demand from main end-use sectors such as ethanol, animal feed, and other industrial applications. Another important corn end-use sector is the manufacturing of sorbitol. The biggest corn-consuming countries, such as China and the United States, are driving up demand.
Key Market Players
The major players in the market are Cargill Incorporated, Archer Daniels Midland Company, Ingredion Incorporated, Tate & Lyle Plc, Tereos SA, Roquette Freres, and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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