According to the latest study by IMARC Group, “Corn Starch Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global corn starch market reached a volume of 73.1 Million Tons in 2018. 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).
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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. Owing to the aforementioned factors, the corn starch market size is expected to reach 92.4 Million Tons by 2024, expanding at a CAGR of around 4% during 2019-2024.
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Insights on Market Segmentation:
Market Breakup by Category
1. Native Starch
2. Modified Starch
On the basis of the category, sweeteners represent the largest market segment. Other major categories include native starch and modified starch.
Market Breakup by Application
1. Food & Beverages
2. Animal Feed
3. Pharmaceuticals & Chemicals
5. Paper & Corrugates
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.
Market Breakup by Region
1. United States
3. European Union
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.
The competitive landscape of the market has also been analyzed in the report with the key players being Cargill, Ingredion, ADM, Tate & Lyle and Roquette.
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