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The Corn Starch Market is influenced by a myriad of factors that collectively shape its dynamics, ranging from agricultural practices to global economic trends. One fundamental factor is the supply of corn, which is the primary raw material for corn starch production. Weather conditions, planting patterns, and crop yields directly impact the availability of corn, influencing the overall supply chain. Fluctuations in corn production can result from natural factors such as droughts or excessive rainfall, affecting the quantity and quality of corn starch in the market.
Market demand is another crucial factor driving the Corn Starch Market. The diverse applications of corn starch, spanning the food and beverage industry, pharmaceuticals, and industrial sectors, contribute to its widespread demand. Changes in consumer preferences, dietary trends, and technological advancements in end-use industries play a pivotal role in shaping the overall demand for corn starch. For instance, the growing preference for natural and clean-label ingredients in the food industry has increased the demand for corn starch as a versatile and recognizable ingredient.
Global economic conditions and trade policies significantly impact the Corn Starch Market. As a globally traded commodity, corn starch is subject to international market dynamics, including currency fluctuations, trade tariffs, and geopolitical events. Changes in trade agreements or disruptions in the global supply chain can influence the pricing and availability of corn starch on a global scale, affecting both producers and consumers.
Technological advancements and innovation in corn starch processing contribute to the market's growth and competitiveness. Continuous research and development efforts in refining extraction methods, modifying starch properties, and developing new applications enhance the functionality and versatility of corn starch. Technological innovation also plays a role in optimizing production processes, improving efficiency, and reducing environmental impact, positioning companies within the market based on their ability to adopt and implement new technologies.
Regulatory factors are integral to the Corn Starch Market, as government regulations and standards impact various aspects of production, distribution, and marketing. Regulations related to food safety, labeling, and environmental sustainability can influence how companies operate within the market. Compliance with these regulations not only ensures product quality and safety but also determines a company's market access and reputation.
Consumer awareness and preferences regarding health and sustainability are increasingly shaping the Corn Starch Market. The demand for natural, non-GMO, and organic products has grown, prompting manufacturers to adapt their offerings to meet these preferences. Moreover, increased awareness of environmental issues has led to a surge in demand for sustainable and eco-friendly packaging solutions, influencing the choices made by both producers and consumers in the corn starch market.
Competitive factors, including market concentration, brand recognition, and pricing strategies, play a significant role in determining the success of companies in the Corn Starch Market. Larger, well-established players may benefit from economies of scale, while smaller, niche players may focus on specialty or high-value segments. Pricing strategies, influenced by production costs and market demand, also contribute to a company's competitive positioning within the market.no
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Size Value In 2023 | USD 11.8 Billion |
| Growth Rate | 6.60% (2023-2030) |
Corn Starch Market Highlights:
Global Corn Starch Market Overview
Corn Starch Market Size was valued at USD 11.1 billion in 2023. The corn starch industry is projected to grow from USD 11.8 Billion in 2024 to USD 17.3 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.60% during the forecast period (2024 - 2032). Increasing bakery demand and increasing cases of celiac disease and gluten intolerance are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Corn Starch Market Trends
- The main factor boosting market growth is the rising demand for clean label products.
The food and beverage industry, as well as other businesses worldwide, are being significantly impacted by clean label ingredients and goods. Due to rising health awareness among consumers and a high demand for natural, pure, and high-quality products, clean label starches are in high demand. Additionally, the market for modified starch, which is widely used in these food applications, is experiencing higher demand as the economy strengthens, leading to an increase in consumption of processed and convenience foods. This is pushing the overall corn starch market.
In the upcoming years, the growing trend towards using ethanol instead of gasoline is likely to be the main driving force. A vital component in producing ethanol is corn starch. Throughout the anticipated period, the market is anticipated to be seriously threatened by the potential for arrowroot substitution in the food industry. Market participants should have several opportunities thanks to advances in biotechnology, rising production of chemicals with added value, and the discovery of new fermentation organisms.
Furthermore, the primary driving force over the coming years will probably be the expanding trend of using ethanol instead of gasoline. An important component in the production of ethanol is corn starch. Throughout the anticipated period, the possibility of arrowroot substitution in the food industry is anticipated to pose a significant threat to the market. The development of biotechnology, rising production of chemicals with added value, and the identification of novel fermentation organisms are all expected to offer market participants a number of opportunities.
Corn Starch Market Segment Insights
Corn Starch Type Insights
Based on the Product Type, the corn starch market segmentation is divided into Modified Starch, Native Starch, and Sweeteners. Among these, sweetener is predicted to rule the corn starch market over the course of the forecast. Only food, such as soups, desserts, and sauces, as well as a variety of non-food items, are used to enhance the flavour of cornflour. Cornstarch is an ingredient in food. Sweetener is the market leader in this category. The material is used, for instance, in medications, chemical products, food and drinks, animal feeds, paper, and textiles. The industry leader in this regard is food and beverage. As the economy expands, revenue is generated by the corn starch market.
Figure 1: Corn Starch Market, by type, 2022 & 2030 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Corn Starch application Insights
The corn starch market segmentation, based on application, includes food & beverage, pharmaceuticals and nutraceuticals, animal feed and others. Food and beverages dominated the market for corn starch during the anticipated period, according to market projections by application. This is a result of the food service sector's expanding use of corn starch as an ingredient. The market for corn starch has also been driven by an increase in fast food restaurants, cafes, and food outlets. On the other hand, a decline in the consumption of food and drink purchased outside the home has had a detrimental effect on market growth in 2020 as a result of the ongoing pandemic and the implementation of lockdown.
Corn Starch Regional Insights
By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North American corn starch market is likely to dominate the corn starch market during the forecast period, owing to the food and beverage industry's increased acceptance of gluten-free ingredients. The rising prevalence of gluten intolerance and celiac disease in the United States is the primary driver of the corn starch market in North America. The region's growing population and growth in disposable income contribute to rising consumption of processed and convenient foods, increasing demand for corn starch. Leading market participants are developing products to meet the needs of the region.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: CORN STARCH MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe corn starch market accounts for the second-largest market share due to the increase in corn starch demand for bakery uses in food and drink. Further, the Germany corn starch market held the largest market share, and the UK corn starch market was the fastest-growing market in the European region
The Asia-Pacific Corn Starch Market is expected to grow at the fastest CAGR from 2022 to 2030. This is due to how consumer lifestyles and purchasing habits have changed as a result of Asia-Pacific countries' rapid economic expansion. The demand for items containing corn starch has grown over time as a result of the increase in packaged food and beverage consumption in this area. Moreover, China corn starch market held the largest market share, and the India corn starch market was the fastest growing market in the Asia-Pacific region
Corn Starch Key Market Players & Competitive Insights
Leading market participants are investing heavily in R&D to expand their product lines, which will help the corn starch market grow even more. Market participants are also pursuing a variety of strategic measures to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and thrive in an increasingly competitive and rising market climate, competitors in the corn starch business must offer cost-effective items.
Manufacturing locally to cut operational costs is one of the main business methods used by producers in the corn starch industry to benefit customers and develop the market sector. The corn starch sector has recently given medicine some of the most important advantages. Major players in the corn starch industry, including Archer Daniels Midland Company (US), Agrana Group (Austria), Avebe U.A. (The Netherlands), Beneo GmbH (Germany), and others, are aiming to increase market demand by investing in research and development operations.
The Archer-Daniels-Midland Company, also referred to as ADM, is a multinational American firm that was established in 1902 and has its headquarters in Chicago, Illinois. The company manages more than 270 plants and 420 crop procurement facilities around the world, where cereal grains and oilseeds are converted into goods used in the food, beverage, nutraceutical, industrial, and animal feed sectors. In the list of the 500 biggest American companies released in 2020, ADM came placed at number 54. Agribusiness storage and delivery services are also offered by the business. In December 2022, ADM declared that it would make investments to increase the starch production at its facilities in Marshall, Minnesota.
The Grains Trade Convention is managed by the International Grains Council (IGC), an intergovernmental organization that aims to encourage cooperation in the world grain trade. It's entrusted with boosting market stability and world food security through providing unbiased analysis on supply and demand fundamentals in the grains and oilseed sectors and improving transparency through regular reporting on market and policy developments. In March 2021, The United States Grains Council cooperated with an Egyptian corn starch firm. This collaboration aims to improve plant profitability by generating more efficient operations.
Key Companies in the corn starch market includes
- Archer Daniels Midland Company (US)
- Cargill
- Incorporated (US)
- Grain Processing Corporation (US)
- Croda international (UK)
- AkzoNobel NV (Netherlands)
- Bayer AG (Germany)
- Ajinomoto Company Incorporated (Japan)
- Henkel AG & Company
- KGaA (Germany)
- Associated British Foods plc (UK)
- Calpis Company (Japan) among others
Corn Starch Industry Developments
In May 2022, ADM invested in the starch manufacturing plant facility to boost its production capacity. To meet rising demand, the company has opted to expand its Marshall, MN location.
In January 2022., DFE Pharma added three starch-based excipients to their nutraceutical offering Nutroféli ST100 is a native maize starch; ST200 is a slightly pre-gelatinized maize starch; and ST300 is a fully gelatinized maize starch.
In March 2022, Promateris, a Romanian industrial group and the region's market leader for compostable and biodegradable materials, has declared its intention to increase its share capital. To maintain Promateris' trajectory of growth, a capital increase is being requested. Promateris hopes that through supporting organic growth and M&A potential, the increase in share capital would help it to accelerate its expansion and strengthen its position in the area. In order to manufacture recyclable and biodegradable packaging, Promateris will also start producing raw materials based on maize starch. By developing its formulas and methods for this brand-new industry, Promateris will be the first company in Eastern Europe to produce corn starch raw materials.
Corn Starch Market Segmentation
Corn Starch Type Outlook
- Native
- Modified
- Sweeteners
Corn Starch Application Outlook
- Food & Beverage
- Pharmaceuticals and Nutraceuticals
- Animal Feed
- Others
Corn Starch Regional Outlook
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
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