IMARC Group, a leading market research company, has released a report titled “Corn Starch Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“. According to the report, The global corn starch market size reached 84.2 Million Tons in 2022. Looking forward, IMARC Group expects the market to reach 98.2 Million Tons by 2028, exhibiting a growth rate (CAGR) of 2.65% during 2023-2028.
Corn starch, a versatile and widely used product derived from corn kernels, holds significant value across various industries. Primarily known for its role in culinary applications, corn starch serves as a thickening agent in cooking and baking, enhancing the texture and consistency of a wide array of dishes. Beyond its culinary applications, corn starch also finds utility in non-food sectors. In the manufacturing realm, it plays a crucial role in the creation of bioplastics, offering a more sustainable alternative to traditional petroleum-based plastics. This aligns with the growing emphasis on eco-friendly solutions in today's market. Furthermore, the pharmaceutical and personal care industries utilize corn starch in the production of various products, including medications, cosmetics, and hygiene items. Its absorbent qualities and smooth texture make it an ideal ingredient in powders, creams, and lotions.
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Corn Starch Market Trends and Drivers:
The food and beverage sector represents one of the primary drivers of the global corn starch market. Corn starch's extensive use as a thickening agent, stabilizer, and texture enhancer in food products, ranging from sauces to bakery goods, contributes significantly to its demand. As consumer palates evolve and culinary trends shift, the demand for convenience foods and processed items continues to drive the need for corn starch. Additionally, corn starch serves as a fundamental ingredient in the production of bioplastics, which are gaining traction as an environmentally friendly alternative to conventional plastics derived from fossil fuels. As sustainability concerns grow, industries are seeking eco-conscious solutions, further bolstering the demand for corn starch. Other than this, with increasing awareness about health and wellness, consumers are gravitating toward products with natural and recognizable ingredients. Corn starch, being a naturally derived product, aligns well with this preference, driving its inclusion in various consumer goods. Besides this, the versatility of corn starch extends beyond the food and personal care sectors. It finds use in industries such as textiles, paper, and adhesives. This wide-ranging applicability ensures consistent demand from multiple industries. In line with this, economic growth and urbanization in developing countries have led to changing consumption patterns and increased disposable income. This, in turn, fuels demand for processed foods and other products that utilize corn starch. Moreover, ongoing research into corn starch applications and its modification to suit various industries contributes to market expansion. New and innovative uses, such as in the textile and pharmaceutical sectors, open up fresh avenues for growth. The rise of vegan and gluten-free diets has fueled the demand for plant-based ingredients, including corn starch, to replace animal-derived thickeners and binders in food products.
Report Segmentation:
The report has segmented the market into the following categories:
Category Insights:
- Native Starch
- Modified Starch
- Sweeteners
Application Insights:
- Food & Beverages
- Animal Feed
- Pharmaceuticals & Chemicals
- Textile
- Paper & Corrugates
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- Cargill, Incorporated
- Archer Daniels Midland (ADM) Company
- Ingredion Incorporated
- Roquette Frères S.A
- Tate & Lyle PLC
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