Global demand for Corn Starch Market was valued at approximately USD 17.3 billion in 2019, and is expected to generate revenue of around USD 28.3 billion by end of 2026, growing at a CAGR of around 7.3 % between 2020 and 2026.
The global Corn Starch market, which accrued revenue worth 17.3 (USD Billion) in 2019, is slated record the CAGR of nearly 7.3% over the period from 2020 to 2026. The report offers assessment and analysis of the Corn Starch market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, Type estimates, opportunities, evolving trends, and industry-validated data. The report offers historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Billion).
Starch is a natural polymer produced by plants in abundance and corn starch is one of its kind. Apparently, corn starch is derived from maize and is a common food constituent that is often utilized in order to thicken soups and make corn sugars & corn soups. In addition to this, corn starch is adaptable, can be easily modified, and finds slew of applications in adhesives, paper items, and textile production. Moreover, it is also used as anti-sticking agent and is utilized in Animal Feed sector.
Market Growth Drivers
Mechanical features and solubility of the product in water will drive the market trends. Apart from this, rise in the use of the product in food & beverages, paper & board, processed food, and detergents will proliferate the expansion of the market over the estimated timespan. In addition to this, corn starch is also utilized treating of human beings against glycogen storage ailment.
Furthermore, food producers minimize the manufacturing costs through addition of varying proportion of corn starch in food products and this will further boost the market growth in the foreseeable future. Escalating use of ethanol as a biofuel feedstock instead of petroleum will further expedite the growth of industry over the forthcoming years. Additionally, extensive product penetration in paper & textile sectors and its use as stabilizer will drive the market trends. However, unfavorable climate conditions can obstruct production of corn starch as well as hinder the supply chain of the product affecting its costs and this can impede the market growth.
North America To Retain Its Industry Dominance Even In Future
The growth of the market in North America over the forecast timeline is due to massive product utilization in animal feed along with its use in producing pet food, pharmaceutical, and personal care & cosmetic items in the countries like the U.S. Moreover, U.S. is the largest corn manufacturer. Additionally, intake of convenience diet as well as RTE snacks will steer the regional market trends over the forthcoming years.
Key players influencing the market growth include Tate & LyleGrain Processing Corporation, Avebe, Ingredion Incorporated, Cargill, and Ajinomoto Company.
The global corn starch market is segmented as follows:
Rise in the use of the product in food & beverages, paper & board, processed food, and detergents will proliferate the expansion of the market over the estimated timespan.
The CAGR of the industry is expected to be nearly 7.3% during the forecast timeline.
North America will contribute remarkably towards the global market share over the estimated timeline.
The key market players include Tate & Lyle, Grain Processing Corporation, Avebe, Ingredion Incorporated, Cargill, and Ajinomoto Company.