The global corn starch market is a dynamic and essential sector valued at US$ 20.43 billion in 2023 and expected to grow at a CAGR of 7.94% to reach US$ 40.64 billion by 2032, according to Renub Research. Corn starch, derived from corn kernels, is a versatile ingredient used in various industries, including food and beverage, pharmaceuticals, paper, textiles, and more.
Key Market Trends and Drivers:
- Growing Demand for Natural and Organic Ingredients: There is a rising consumer preference for natural and organic ingredients in food products, driving the demand for corn starch as a thickening agent, stabilizer, and texturizer. Brands like Ingredion have introduced organic corn starch products to cater to this demand.
- Increased Demand for Resistant Starch: Resistant starch, which resists digestion in the small intestine and promotes gut health, is experiencing growing demand. Studies have shown its potential health benefits, including reducing the risk of certain cancers, driving its popularity and demand in the market.
- Rise in Celiac Disease Awareness: With the increasing prevalence of celiac disease, there is a growing demand for gluten-free alternatives. Corn starch, being naturally gluten-free, is a preferred choice for consumers seeking gluten-free products, boosting its market growth.
- Significant Role in the Food and Beverage Industry: Corn starch is widely used in the food and beverage industry as a versatile additive in sauces, soups, baked goods, snacks, and beverages. The demand for processed and convenience foods is driving the usage of corn starch in this sector.
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Regional Market Insights:
- United States: The US is a significant player in the global corn starch market, with a thriving industry supported by its large corn production and advanced processing capabilities. Corn starch finds extensive use in pharmaceuticals as tablet fillers and binders, further contributing to its market growth.
Company News:
- DFE Pharma: Introduced three starch-based excipients under the Nuroféli brand for dietary supplements.
- ADM: Invested in infrastructure to increase output at its starch manufacturing plant in Minnesota.
- Cargill: Opened a new corn wet mill in Indonesia to meet Asia’s growing demand for starch, sweeteners, and feed.
- Ingredion Incorporated: Opened a new eco-friendly starch production facility in China to ensure sustainability.
- United States Grains Council: Partnered with an Egyptian corn starch manufacturing company to streamline operations and increase profitability.
Market Segmentation:
- Type: Native, Modified, Sweeteners
- Form: Powder, Liquid
- End-User: Food and Beverage, Animal Feed, Paper and Board, Others
- Country: North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Key Players:
- Cargill Inc.
- Ingredion Inc.
- Archer Daniels Midland Company
- Tate and Lyle
- Associated British Foods plc
- Tereos Group
- Sudzucker AG
- Global Bio-Chem Technology Group Company Ltd.
In conclusion, the global corn starch market is experiencing significant growth driven by consumer preferences for natural and organic ingredients, the demand for resistant starch, increased awareness of celiac disease, and its essential role in the food and beverage industry. The market is expected to continue growing, presenting opportunities for key players to innovate and expand their product offerings.
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