Corn and Corn Starch Derivatives Market Share, Size, Trends, Industry Analysis Report, By Product (Corn Starch, Corn Starch Derivatives, Corn Oil, Corn Flour, Corn Meal/Flakes/Grits, Corn Protein); By Application; By Region; Segment Forecast, 2023-2032
- Published Date:Apr-2023
- Pages: 114
- Format: PDF
- Report ID: PM3169
- Base Year: 2022
- Historical Data: 2019-2021
Report Outlook
The global corn and corn starch derivatives market was valued at USD 75.61 billion in 2022 and is expected to grow at a CAGR of 4.98% during the forecast period. The growing the use corn and corn starch and its derivatives is a result of the recent growth in demand for convenience foods. Due to their numerous capabilities, corn starch derivatives are employed in a variety of food products as a thickener, emulsifier, textural agent, and other purposes. Such useful qualities of starches are fostering the market's expansion.
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A naturally occurring carbohydrate that is rich in nutrients and contains a lot of glucose units is corn starch. The demand for wholesome snacks and corn-based baked goods to be consumed during downtime has expanded as a result of growing urbanization and changing lifestyles. In addition, it is used to thicken foods like sauce, gravies, soups, and custards. In order to meet consumer demand, this factor is pressuring food producers to launch new items into the market, which will increase product demand in the immediate future.
Additionally, rising consumer expectations for improved food products and an increase in product innovation are expected to drive demand for starch derivatives throughout the projection period. Modified starches have also quickly broadened their range of uses due to their enhanced functionality in a variety of different applications.
For instance, a research study by Bin Wang, published in 2021 claims that corn starch has been employed as a renewable resource for the development of biodegradable packaging because of its wide variety, low cost, widespread industrial production, and effective film-forming capabilities. Unfortunately, the use of starch borne films has been constrained by their subpar mechanical and barrier qualities. In order to avoid the problems and enhance the films' elongation, distribution, flexibility, & stiffness, plasticizers were subsequently added. Plasticizer addition can alter continuity, improving the qualities of films made from maize starch. While plasticization could increase the tensile strength and percent elongation in produced films, it can also decrease water resistance.
As the impacts of COVID-19 are felt worldwide, consumer goods, food, and beverage firms are experiencing substantially lower consumption and supply chain disruption worries. There has been no change in out-of-home consumption over the past two weeks, in contrast to the rise in at-home consumption. In addition to government-enforced lockdowns and trade restrictions, these had an impact on raw material supply, affecting the market's supply chain. There was evidence of fluctuating raw material prices, which put a lot of pressure on paper packaging producers.
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Industry Dynamics
Growth Drivers
The demand for corn starch derivatives, which are a crucial component of the market for food ingredients and are rising quickly in other industrial sectors, is anticipated to propel the expansion of the global market throughout the anticipated time frame. Due to its low manufacturing costs, ease of processing, biodegradability, exceptional physiochemical properties, and high calorific value, it is a popular product in the pharmaceutical, paper, textile, and many other industries. Increased consumption of processed foods is anticipated to drive growth in the global corn and corn starch derivatives market over the projected period due to corn starch derivatives broad range of functional characteristics and ease of inclusion in a variety of applications.
Report Segmentation
The market is primarily segmented based on product, application, and region.
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By Product |
By Application |
By Region |
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The corn starch derivatives are predicted to dominate the industry's market segment in 2022.
The corn starch derivatives sector controlled a majority of market share. The sector is primarily driven by corn syrup, which is used to retain moisture in the food items & as a flavor enhancer. The demand for such derivatives in the food industry and other industrial sectors is rising quickly, which is projected to fuel the expansion of the global market over the course of the study period. Corn starch derivatives are an essential component of the market for food ingredients. The growing consumption of processed foods is anticipated to fuel the global throughout the projected period. Corn starch derivatives exhibit a wide range of functional qualities, and they are simple to incorporate in a wide range of applications.
For instance, a research article by Mohamed F. Eshag Osman, published in 2022, reports that beef patties were made with acetylated maize starch as a fat substitute, and the impact of this ingredient on the physicochemical, textural, and sensory characteristics of the patties was evaluated during freezing for 60 days. Acrylated corn starch is an advantageous modification of corn starch that can be used in the meat industry. Acetylated corn starch-containing patties scored highly for physical, chemical, and sensory characteristics. As a result, acetylated corn starch can be employed as a fat substitute in meat products since it enhanced the physicochemical characteristics and sensory qualities of beef patties.
Food and beverage will account for a higher share of the market during forecast period
In 2022, the market was led by the food and beverage sector. The primary driver driving the market is corn starch's potential to thicken components in meals and beverages, retain moisture, give freezing thaw stability, minimize separation, & to replace fats. Additionally, the expanding worldwide packaging industry is favorably influencing market expansion. In industrialized countries, the migration of rural residents to metropolitan areas for work or education is increasing the demand for packaging products, which has increased the market demand for those products.
Due to the growing need for clean and simple ingredients, businesses have recognized the expanding demand for the clean-label product and are developing goods to meet customer preferences. For instance, Ingredion built a cutting-edge starch facility in the China that will provide sustainable products, in September 2022. The company will help advance sustainable manufacturing and ensure supply to the whole global FMCG chain with the help of the new specialty starch facility that Ingredion has built.
The demand in North America is expected to witness significant growth during projected timeframe
North America is contributing the significant global revenue in 2022. The main element driving the industry is changing lifestyles, which have generated a desire for processed and packaged goods as alternatives to traditional handcrafted food items. Furthermore, the expansion of the corn starch business in those areas is being fueled by the United States' abundant supplies of corn as a raw material and corn starch's low cost. For instance, according to forecasts from the United States Department of Agriculture, global corn production in 2022 will total 1,161.86 million metric tons, or around 6.52 million fewer tones than predicted last month. The amount of corn produced in 2017 was 1,216, 87 million tones.
The demand for corn starch is rising as a result of the region's expanding population and rising disposable income among consumers, which support the area's expanding consumption of convenience and processed foods. Major market companies are developing goods to meet local consumer demands.
Competitive Insight
Some of the major players operating in the global market include ADM, Cargill, Ingredion, Tate & Lyle, Agrana Group, Archer Daniels Midland, Roquette Frères, Wacker Chemie, National Starch, Ashland, Associated British Foods, & Fibersol.
Recent Developments
- In May 2022, ADM invested in starch production facility at its Minnesota, to rapidly expand g demand from the FMVG sectors & to support the company's ongoing Bio Solutions platform expansion.
- In January 27, 2022, DFE Pharma will introduce three new starch-based excipients, therefore enhancing its offering of nutraceuticals. The company claims that the goods target industry-wide formulation demands, which have drawn more consumer attention since the start of the COVID-19 epidemic.
Corn and Corn Starch Derivatives Market Report Scope
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Report Attributes |
Details |
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Market size value in 2023 |
USD 78.87 billion |
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Revenue forecast in 2032 |
USD 122.11 billion |
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CAGR |
4.98% from 2023 - 2032 |
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Base year |
2022 |
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Historical data |
2019 - 2021 |
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Forecast period |
2023 - 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2023 to 2032 |
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Segments covered |
By Product, By Application, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key companies |
ADM, Cargill, Ingredion, Tate & Lyle, Agrana Group, Archer Daniels Midland Company, Roquette Frères, Wacker Chemie AG, National Starch and Chemical Company, Ashland, Associated British Foods PLC, and Fibersol. |
FAQ's
The corn and corn starch derivatives market report covering key segments are product, application, and region.
Corn and Corn Starch Derivatives Market Size Worth $122.11 Billion by 2032.
The global corn and corn starch derivatives market expected to grow at a CAGR of 4.98% during the forecast period.
North America is leading the global market.
key driving factors in corn and corn starch derivatives market are rising adoption in paper and board industry is propelling the market.
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