Market Overview
The corn starch market is a vital component of the global food industry. Corn starch, derived from maize, serves as a thickening agent in various food products. It also finds applications in non-food industries such as paper, textiles, and pharmaceuticals. The market is influenced by demand for convenience foods, clean label products, and sustainable sourcing practices.
Market Analysis
The global corn starch market will touch USD 17.3 billion at a 6.60% CAGR by 2030, as per the latest Market Research Future report.
Drivers
Clean-Label Ingredients Trend to Boost Market Growth
The clean-label products and ingredients trend is impacting the food & beverage sector and other sectors operating all over the world which in turn will boost market growth. The increasing health consciousness amid consumers coupled with the growing need for high-quality, pure, and natural products have generated the need for clean-label starches.
Opportunities
Increasing Adoption in F&B Industry to offer Robust Opportunities
The increasing adoption of corn starch in the food & beverage industry will offer lucrative opportunities for the corn starch market over the forecast period. Corn starch is mostly used as a stabilizer, thickening agent, and emulsifier in different food products like baby foods, desserts, soups and sauces. Also, the shifting trend towards packaged and processed foods is also fuelling market growth.
Restraints and Challenges
Availability of Substitutes to act as Market Restraint
The availability of different substitutes such as rice and pea starch and the increasing customer awareness regarding the negative impacts of starch-rich diet may act as market restraints over the forecast period.
Market Segmentation
The global corn starch market is bifurcated based on application and type.
By type, sweeteners will lead the market over the forecast period.
By application, food and beverage will domineer the market over the forecast period.
COVID-19 Analysis
The COVID-19 epidemic possessed a negative impact on the corn starch market chiefly on account of a fall in out-of-home food consumption at the time of the outbreak and supply chain disruptions that slightly decreased the sales of corn starch products. Besides the closure of catering services and restaurants also pulled down the demand for corn starch that had a negative impact on the market growth.
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North America to Command Corn Starch Market
North America will command the corn starch market over the forecast period for the increased acceptance of gluten-free ingredients in the food & beverage sector. The growing prevalence of celiac disease & gluten intolerance in the US is boding well for the market growth in the region. North America’s growing population coupled with the growing disposable income largely contribute to the growing consumption of convenient and processed foods, thus boosting the demand for corn starch. Top market players are developing products for catering to the needs of this region. The US is the biggest producer of corn as well as its derivatives within the globe. This growth is owing to the rising consumption of convenience food and ready-to-eat snacks.
Key Players
Eminent industry players profiled in the corn starch market report include Archer Daniels Midland Company (US), Agrana Group (Austria), Avebe U.A. (The Netherlands), Beneo GmbH (Germany), Cargill Incorporated (US), Emsland-Stärke GmbH (Germany), and Grain Processing Corporation (US).
Regional Analysis
The corn starch market exhibits regional variations. In North America, it is driven by its use in food processing and industrial applications. In Asia-Pacific, it sees substantial demand due to the growing food and textile industries. Europe has a stable market with applications in food and pharmaceuticals. South America shows potential for growth in the near future
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