Corn Starch Market: Global Share, Size, Growth, Trends & Outlook ( 2022 – 2032 )
Corn Starch Insights
The endosperm of corn kernels yields a powdery, fine substance referred to as corn starch. It's frequently utilized as a thickening agent in baking, cooking, and therefore the production of varied food products. it's been processed to get rid of all of the protein, fiber, gluten, & other components of the corn kernel, so it's essentially pure starch and highly refined.
Corn starch is a versatile ingredient that will be utilized in a spread of the way, like as a base for custards and puddings, as a coating for fried foods, as a thickener in soups, sauces, & gravies. It's also used to make canned and frozen foods, snack foods, food.In gluten-free baking, cornstarch could also be a standard ingredient. For those that are gluten intolerant or suffer from a disorder, it also can be utilized in place of flour in recipes. It’s also used as a binding agent in the production of paper, and as a raw material in the production of adhesives, pharmaceuticals.
Corn Starch Market Size
The corn starch market is a significant segment of the global food and beverage industry. The demand for corn starch is primarily driven by its versatility as a food ingredient, its wide selection of applications, and its cost-effectiveness. The global corn starch market size was valued at around USD 17.7 billion in 2021 and is projected to grow at a compound annual rate of growth (CAGR) of around 10.3% from 2022 to 2032.The market size is projected to succeed in USD 34.3 billion by 2032.
The Asia Pacific region is the largest marketplace for corn starch followed by North America and Europe, accounting for a big share of the worldwide market primarily thanks to the massive population and therefore the growing demand for convenience foods in countries like China, India, and Japan.
Some of the key players within the corn starch market include Cargill, Incorporated, Archer Daniels Midland Company, Tate & Lyle PLC, Ingredion Incorporated, and Roquette Frères. These companies are constantly innovating and developing new products to satisfy the changing demands of consumers and therefore the food industry.
Corn Starch Market Key Drivers
The global corn starch market is driven by various key drivers contributing to its growth in recent years. Some of the key drivers of the are:
- Cost-effectiveness: Corn starch is a relatively inexpensive ingredient compared to other thickeners and stabilizers making it a beautiful option for food manufacturers who are looking to scale back costs without compromising on quality.
- Expansion of the food and beverage industry: The food and beverage industry is expanding globally, and this trend is predicted to drive the demand for corn starch which is widely utilized in the assembly of varied sorts of food products.
- Growing demand for bioplastics: Corn starch is additionally utilized in the production of bioplastics, which are biodegradable and renewable alternatives to traditional plastics which is expected to grow driven by the demand for sustainable packaging solutions.
- The growing popularity of gluten-free products: Corn starch is a gluten-free ingredient used as a substitute for flour in gluten-free products driven because of the increasing prevalence of disorder and gluten intolerance.
- Growing population: The worldwide population is predicted to still grow driving the demand for food and other related products. Corn starch is employed as a staple within the production of varied sorts of food products, and the growing population is predicted to drive the demand for corn starch.
- Increasing adoption of bio-based products: Corn starch is a bio-based ingredient that is more environmentally friendly than traditional products, utilized in the production of various products, including plastics and adhesives, driving the demand for corn starch.
- Increasing demand for convenience foods: Corn starch is a versatile ingredient widely used as a thickener, binder, and stabilizer in processed foods like soups, sauces, gravies, and snacks. As the demand for convenience foods continues to grow, the demand for corn starch is expected to extend.
- Technological advancements in production: Advances in technology have made the manufacturing of corn starch more efficient and cost-effective leading to a rise in production capacity and a discount in production costs, driving the expansion of the corn starch market.
- Use of corn starch within the production of animal feed: Corn starch is employed as a staple within the production of animal feed. The market is driven by this trend as the demand for animal feed extends because the global population continues to grow.
Corn Starch Market Key Trends and Developments
Some key trends and developments in the corn starch market include:
- The growing popularity of organic and non-GMO corn starch: There's a growing demand for organic and non-GMO corn starch, driven by the increasing consumer preference for natural and healthy ingredients. Many manufacturers are responding to the present trend by offering organic and non-GMO corn starch products.
- Increasing demand for natural ingredients: Consumers are getting more health-conscious and are seeking out products that are made with natural ingredients driving the demand for corn starch, a natural ingredient that's derived from corn and is widely utilized in the food and beverage industry.
- Increasing use in non-food applications: Corn starch is being increasingly utilized in non-food applications, like within the production of bioplastics, paper products, and textiles driving the expansion of the corn starch market within the coming years.
- Innovation in product development: Key players within the corn starch market are investing in research and development to develop new and innovative products. for instance, there's a growing trend towards modified corn starches that have improved functionality and may be utilized in a wider range of applications.
- Expansion of production capacity: Many key players within the corn starch market are expanding their production capacity to satisfy the growing demand for corn starch. This includes investing in new production facilities and upgrading existing ones.
- Rising demand for corn starch within the paper industry: Corn starch is employed as a binding agent within the production of paper and cardboard, and therefore the demand for these products is predicted to extend because the global population continues to grow.
Corn Starch Market Segmentation
The corn starch market can be segmented based on the following factors:
- By Application
- Food & Beverage
- Paper & Textiles
- Industrial Applications
- By Functionality
- By Type of Starch
- Native Corn Starch
- Modified Corn Starch
- Sweet Corn Starch
- By End-use Industry
- Food & Beverage
- Personal Care
- Industrial Applications
- By Region
- North America
- Rest of the World (RoW)
Corn Starch Market: Report Scope
Base Year Market Size
Forecast Year Market Size
Corn Starch Market Regional Synopsis
The rising popularity of natural and plant-based ingredients and the rising demand for gluten-free products are driving the corn starch market in North America. The US is the biggest marketplace for corn starch in North America, trailed by Canada and Mexico. From 2021 to 2028, the market is predicted to expand at a CAGR of 3.9%. The market was worth $3.3 billion in 2020, and by 2028, it's expected to be worth $4.5 billion.
The European marketplace for corn starch is driven by the rising preference for natural & organic ingredients. and the rising demand for convenience foods. From 2021 to 2032, the market is predicted to expand at a CAGR of 3.3%. The market was worth $2.4 billion in 2020, and by 2028, it's expected to be worth $3.2 billion. The bulk of the region's market share is held by Germany, France, and the UK.
The Asia-Pacific region is the largest marketplace for corn starch driven by the massive population and rising demand for convenience foods in nations like China, India, and Japan. From 2021 to 2028, the market is predicted to expand at a CAGR of 5.6%. The market was worth $6.4 billion in 2020, and by 2028, it's expected to be worth $10.5 billion. The corn starch market is predicted to expand as a result of the many rises in demand for bioplastics within the region.
The rest of the world (RoW) marketplace for corn starch incorporates regions like Latin America, the Middle East, and Africa. In these regions, the growing population and the rising demand for convenience foods are the first drivers of the demand for corn starch. From 2021 to 2028, the market is predicted to expand at a CAGR of 4.2%. The market was worth $1.9 billion in 2020, and by 2028, it's expected to be worth $3.5 billion.
Japan Corn Starch Market
The Japanese corn starch market is predicted to grow at a moderate pace and is predicted to register a CAGR of around 3% during the forecast period of 2021-2028. The market size is predicted to succeed in a worth of $0.44 billion by 2028, growing from $0.25 billion in 2020. There are a couple of recent developments within the corn starch industry in Japan –
- In 2019, Cargill announced an invest $50 million to expand its corn wet milling facility in Yokohama, Japan which will increase the facility's capacity to supply corn starch and other related products.
- In 2018, Archer Daniels Midland Company (ADM) announced an invest $50 million to expand its corn processing facility in Otawara, Japan which will increase the facility's capacity to supply corn starch and other related products.
- In 2017, Nisshin OilliO Group announced an investment of $100 million in its corn processing facility in Hokkaido, Japan.
Corn Starch Market Key Challenges
The corn starch market faces several key challenges that could potentially impact market growth and profitability. Some of the key challenges include:
- Availability of raw materials: The assembly of corn starch relies on a gentle supply of corn, which may be impacted by factors like weather, pests, and political instability resulting in fluctuations in supply and pricing, making it difficult for manufacturers to plan and forecast.
- Competition from other starches: Corn starch faces competition from other sorts of starches like potato starch, tapioca starch, and rice starch, which are often cheaper and easier to supply.
- Environmental concerns: The assembly of corn starch can have negative impacts on the environment because it involves the utilization of huge amounts of water and energy.
- Concern about GMOs: The utilization of genetically modified corn within the production of corn starch has raised concerns about the security and environmental impacts of genetically modified organisms (GMOs).
- Fluctuations in corn prices: Corn prices are often volatile, which may impact the value of manufacturing corn starch. this will make it difficult for manufacturers to take care of stable prices and margins.
- Food safety & health concerns: Corn starch is a highly processed food ingredient, and there are concerns about its impact on health. for instance, it's often used as a thickener in processed foods, which may contribute to obesity and other health issues.
Corn Starch Market Global Key Players
The market is very competitive, and corporations that specialize in developing innovative products to satisfy the growing demand for corn starch. These companies have a strong presence in the market and offer a wide range of corn starch products for various applications such as food and beverage, pharmaceuticals, paper, and textile industries. these companies are investing heavily in research and development to develop new and innovative production methods and products that are more sustainable and eco-friendlier. Additionally, they use strategic partnerships, collaborations, and mergers and acquisitions to expand their market share and geographic presence.
Some of the key players in the global corn starch market include:
- Archer Daniels Midland Company (ADM)
- Associated British Foods plc
- Avebe U.A.
- Cargill Inc.
- Emsland Group
- Grain Processing Corporation (GPC)
- Ingredion Inc.
- Roquette Frères
- Sudzucker AG
- Tate & Lyle PLC