Corn Starch Market

Corn Starch Market Size, Growth, Forecast (2023-2028)

The Global Corn Starch Market size was worth US$ 20.73 billion in 2022 and is anticipated to reach the valuation of US$ 30.39 billion and is anticipated to register a CAGR of 8.3% during 2023-2028.

Market Overview:

Corn starch, maize starch, and corn flour are all starches derived from corn grain. The endosperm of the kernel is used to make starch. Corn starch is a popular dietary element used in the thickening of sauces and soups, as well as the manufacturing of corn syrup and other sugars. Corn starch is versatile, adaptable, and can be utilized in the industry as an anti-sticking agent, textile, and adhesive items. It also has therapeutic uses, such as providing glucose to individuals with glycogen storage disease. Dust explosion, like many other dust-shaped items, can be dangerous in large quantities due to its flame retardance. Corn Starch can be turned into a non-Newtonian fluid when mixed with a liquid.

Corn Starch, for example, is converted to oobleck in addition to water when oil is introduced to turn Corn Starch into an electrorheological fluid. The term "corn flour slime" might be used to describe the mixture. Although Corn Starch is mostly used for cooking and as a domestic commodity, it is used in a variety of industries for a variety of purposes, ranging from the usage of certain products as a chemical addition to medicinal therapy for specific illnesses. Corn flour is made by steeping corn for 30 to 48 hours and slowly fermenting it. The germ is separated from the endosperm, which are both grounded separately (still soaked). The starches are then rinsed away one by one.

The corn steep liquor, cereal germs, fibres, and corn gluten are mainly removed and dried in hydro cyclones and centrifuges.  Wet milling is the term for this process. Finally, the starch can be altered for specialized uses. Corn starch, like many other powders, is prone to stain outbreaks. The Formosa Fun Coast explosion is believed to have been caused by the warming of a Corn Starch oriented powder in Taiwan on June 27, 2015, despite warnings on packages that the material is flammable.

Recent Developments in the Global Corn Starch Industry:

• Through an initial agreement with IMCD, a prominent distributor of specialty chemicals and food products, Archer Daniels Midland Company enlarged the reach of its starch range to the Canadian market.

REPORT COVERAGE:

Global Corn Starch Market Growth:

The worldwide corn starch market is predicted to rise significantly over the next six years because of increased usage in the food and beverage, processed food, paper and board, and detergent industries.

Global Corn Starch Market Drivers:

The growing demand for Clean Label Products is the primary factor driving the global Corn Starch Market during 2022-2027.

Clean label ingredients and products are having a significant impact on the food and beverage industry, as well as other businesses around the world. Clean label starches are in high demand due to increased health consciousness among customers and a high demand for natural, pure, and high quality items. Furthermore, as the global economy improves, resulting in an increase in the consumption of processed and convenience foods, the market for modified starch, which is widely used in these food applications, is seeing higher demand, pushing the overall corn starch market.

Over the next few years, the growing trend of replacing petroleum with ethanol is likely to be the main driving force. Corn starch is a key ingredient in the manufacturing of ethanol. The possibility of arrowroot substitution in the food industry is expected to constitute a substantial threat to the market throughout the projected period. Biotechnology advancements, increasing production of value-added chemicals, and the discovery of new fermentation organisms are projected to provide market participants with several prospects.

Increasing usage of corn starch especially in the food and beverage industries.

Modified starch is widely used in the food and beverage industries, according to its use. Bakery and confectionery items, processed foods, drinks, and other food applications are all part of the food and beverage sector. Because of its use as food additives for maintaining flavor and enhancing the taste and other attributes of the food product, modified starch is becoming increasingly popular in the food and beverage sectors. As a result, the food and beverage industry dominates the modified starch market.

Global Corn Starch Market Restraints:

The global growth of the corn starch market has been hampered by the outbreak of the new coronavirus. Moreover, owing to the disruption of the supply chain and the reduction in out-of-home food consumption during the pandemic, sales of corn starch products have decreased slightly. However, the availability of a various substitutes, include pea and rice starch, along with rising customer awareness about the negative effects of a starch-rich diet, function as important limitations for the corn starch market.

Global Corn Starch Market Segmentation Analysis:

By Product:

• Modified starch
• Native starch
• Sweeteners

The global corn starch market is divided into Modified Starch, Native Starch, and Sweeteners based on the Product Type. Among these, sweetener is anticipated to dominate the global corn starch market during the forecast period. Cornstarch is only utilized to enhance the flavor of food, such as in soups, desserts, and sauces, as well as a variety of non-food things. Cornstarch is a food additive. In this category, sweetener is the market leader. Pharmaceuticals, chemical goods, meals, beverages, animal feeds, paper, and textiles are all examples of where the material is used. Food and beverage is the industry leader in this area. The Corn Starch Market creates revenue as the economy grows.

By Application:

• Animal Feed
• Food and Beverages
• Paper and Board
• Others

According to the corn starch market projection by application, the food and beverages segment dominated the global market during the projected period. This is due to the growing use of corn starch as a food ingredient in the food service industry. Furthermore, the market for corn starch has been pushed by an increase in the number of food outlets, quick service restaurants, and cafés. On the other hand, because to the ongoing pandemic and the installation of lockdown, a decrease in out-of-home food and beverage consumption has had a negative impact on market growth in 2020.

In addition, the other sector is predicted to grow at a rate of 4.6 percent over the projection period. The increase in demand for paper all across the world is to blame. Furthermore, the expansion of the maize starch market is fueled by an increase in the demand for cosmetics and an increase in the sale and manufacture of textiles.

Geographical Segmentation Analysis:

• North America - the United States and Canada
• Europe - United Kingdom, Spain, Germany, Italy, and France
• The Asia Pacific - India, Japan, China, Australia, Singapore, Malaysia, South Korea, New Zealand, and Southeast Asia
• Latin America  - Brazil, Argentina, Mexico, and Rest of LATAM
• The Middle East and Africa - Africa and Middle East (Saudi Arabia, UAE, Lebanon, Jordan, Cyprus)

Global Corn Starch Market Regional Analysis:

The Global Corn Starch Market Report includes the segmentation of Regions:

• Because of the significant consumption of processed and quick food products in the region, North America continues to lead the worldwide corn starch industry. The United States was the region's largest market. The corn starch industry's rise in the US market is being fueled by the quantity of corn as a raw material in the country, as well as the low cost of corn starch.
• The regional Asia Pacific corn starch market is predicted to benefit from rising population and disposable income among consumers in growing nations such as China and India.
• Brazil is also the world's third-largest corn producer. Brazil's market is likely to be driven by the growing food industry and the simple availability of feedstock. Therefore, owing to this the global corn starch market can experience a major growth in the Latin America region.

Impact of COVID-19 on Global Corn Starch Market:

Because packaged foods and sweeteners have a longer shelf life, the Covid-19 pandemic increased demand for them. The lockout, however, had a negative impact on the supply and distribution of packaged foods and beverages. Corn starch is mostly produced in the United States and China. However, manufacturing has been hampered by decreased maize starch output growth and the pandemic.

Key Players in the Market:

Major Key Players in the Global Corn Starch Market are

• Archer Daniels Midland Company
• Associated British Foods plc
• Beteiligungs AG
• Cargill, Inc
• Ingredion Incorporated
• Tate & Lyle PLC
• Roquette Frères S.A
• Hodgson Mill
• ACH Food Companies
• Global Bio-Chem Technology Group Company Limited