According to IMARC Group latest published report, The global corn starch market reached 81.6 Million Tons in 2021. Looking forward, IMARC Group expects the market to reach 95.9 Million Tons by 2027, exhibiting a growth rate (CAGR) of 2.75% during 2022-2027.
Year Considered to Estimate the Market Size:
Base Year of the Analysis: 2021
Historical Period: 2016-2021
Forecast Period: 2022-2027
Corn starch refers to the starch derived from the endosperm of the kernel of corn grain. It is a white, powdery substance which is widely used as a thickening, stabilizing, binding and emulsifying agent. It is an almost flavorless starch that mixes well with a variety of food items. It is extensively used in the preparation of soups, sauces, glazes, pies, desserts and gravies. Apart from the food and beverages industry, it is also widely utilized in the healthcare industry for the treatment of glycogen storage disease (GSD).
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Corn Starch Market Trends:
The thriving food and beverages industry is one of the key factors driving the market growth. Owing to busy schedules and inflating disposable income levels, consumers are continually making a shift towards comfort and processed food items, which extensively use corn starch in their production. In addition to this, corn starch is gaining rapid preference amongst health-conscious consumers as it is gluten-free in nature. It is also widely preferred by vegans across the globe who often mix it with water to use as a substitute for eggs in cooking and baking. Moreover, it is widely used as an industrial starch in paper manufacturing and the textile industry to provide stiffness to clothes. Apart from this, manufacturers are now utilizing corn starch-derived polymers to manufacture products like polybags, diapers, water bottles, plates, containers, cups, straws and cutlery. Rising environmental concerns have led users to adopt these sustainable products instead of their plastic counterparts.
Competitive Scenario with Key Players:
The competitive landscape of the market has also been analyzed, with some of the key players being
Cargill, Ingredion Incorporated (INGR), Archer Daniels Midland Company (NYSE: ADM), Tate & Lyle Plc (OTCMKTS: TATYY) and Roquette.
Key Insights from the Report:
On the basis of the category, sweeteners represent the largest market segment. Other major categories include native starch and modified starch.
Based on the application, the market has been segregated into food and beverages, animal feed, pharmaceuticals and chemicals, textile, paper and corrugates, and others. Amongst these, food and beverages account for the majority of the market share.
On the geographical front, the market has been classified into the United States, China, European Union and Others. At present, the United States holds the leading position in the market.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.