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Corn Starch Market Segmented By Type (Native Starch, Modified Starch and Sweeteners); By End-use (Food and Beverage, Animal Feed, Paper and Board and Others); and Region - Global Analysis of Market Size, Share & Trends for 2019-2020 and Forecasts to 2030
[170+ Pages Research Report] Corn Starch Market to surpass USD 32.38 billion by 2030 from USD 18.23 billion in 2020 at a CAGR of 6.7 % in the coming years, i.e., 2021-30.
Corn starch is also known as maize starch or cornflour. It's a white, odorless, and tasteless powder made from the white endosperm found in the center of a corn kernel. It's gluten-free and a great substitute for flour thickeners in marinades, stews, sauces, gravies, glazes, and soups. It's commonly used in the food and beverage (F&B) industry to add texture to fruits in pies, tarts, and other desserts. It's also used to coat paper, make boxboards, and make insulating material boards. Aside from that, it's used as a disintegrant and binder in pills, emulsions, and ointments in the pharmaceutical industry.
Global Corn Starch market is expected to project a notable CAGR of 6.7% in 2030.
Corn starch is used as a gluten-free food ingredient instead of wheat starch in the food and beverage industry. As a result of these factors, the corn starch market is expected to expand in the future.
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Sweeteners segment to grow with the highest CAGR during 2020-30
Global Corn Starch market is segmented by type into native starch, modified starch, and sweeteners. Sweeteners segment held the largest market share in the year 2020 due to the growing awareness regarding consumption in regions across the world. Additionally, the sweeteners derived from corn starch are cost-efficient and are used by most of food manufacturers.
Food and beverage segment to grow with the highest CAGR during 2020-30
Global Corn Starch market is divided by end-use into food and beverage, animal feed, paper, and board, and others. Over the forecast period, the food and beverage segment is projected to expand at the fastest pace. Corn starch is used as a gluten-free food ingredient instead of wheat starch in the food and beverage industry. As a result of these factors, the corn starch market is expected to expand in the future.
Increased Usage of Corn Starch and Rising Demand of Processed Food
One of the main factors driving the market growth is the increased use of corn starch as a thickening agent in various cuisines, as well as the rising demand for processed food items. It's also used as an anti-caking agent, where a thin layer of cornstarch is dusted on shredded cheese to keep it from clumping together in the box. It also has a wide range of uses in the garment industry, where it is used to add stiffness and weight to clothing. It's also used as an absorbent in a variety of cosmetics around the world.
Bioplastics Gaining Popularity due to Environmental Concerns
Compostable and thermal insulation made from cornstarch-based foam is also recommended for shipping temperature-sensitive goods. Aside from that, bioplastics derived from corn starch are gaining popularity as an alternative to fossil fuel plastics due to growing environmental concerns. This, combined with rising demand for oral pharmaceutical products due to rising disease prevalence and increased access to healthcare facilities, is expected to propel the market forward in the coming years.
Availability of Substitutes and Challenging Climatic Conditions
The availability of other derived starches such as tapioca starch, rice starch, and potato starch, as well as the impact of changing climatic conditions on corn production, have all contributed to the market's decline.
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Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global Corn Starch market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Global Corn Starch in North America held the largest market share in the year 2020. Because of the large number of manufacturers in the region, as well as the high demand for convenience foods, North America dominates the corn starch market. Individual market impacting factors and changes in market regulation that affect current and future market trends are also provided in the country section of the corn starch market study. Some of the key pointers used to forecast the business scenario for individual countries include demand rates, production sites and volumes, import-export analysis, price pattern analysis, cost of raw materials, and downstream and upstream supply chain analysis.
Global Corn Starch Market is further segmented by region into:
Corn Starch Market Segments:
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