Global Corn Starch Market Report and Forecast 2023-2028

Global Corn Starch Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global corn starch market reached a volume of approximately 84.86 million tons in 2022. Aided by the growing preference for sustainable and versatile raw materials in multiple industries and the wide-ranging applications of corn starch, the market is projected to further grow at a CAGR of 2.7% between 2023 and 2028 to reach a volume of 97 million tons by 2028.

Corn starch, commonly known as maize starch, is a carbohydrate extracted from the endosperm of the corn kernel. It's primarily used as a thickening agent in culinary applications such as soups, gravies, and sauces. Beyond its culinary uses, corn starch is recognised for its unique properties including its binding capability, moisture retention, and its role as a filler or bulking agent. As such, it has found diverse applications in several industries ranging from food and beverage to textiles, pharmaceuticals, and even the paper industry.

One of the significant drivers positively impacting the corn starch market outlook is the global shift towards sustainable and biodegradable raw materials. As environmental concerns gain traction, industries are looking for sustainable alternatives to petroleum-based products. Corn starch, being renewable and biodegradable, positions itself as an ideal alternative in the production of eco-friendly plastics and packaging materials.

Furthermore, the consumer inclination towards natural ingredients in food and cosmetic products is driving demand for corn starch. With its thickening and texturizing properties, it serves as a crucial ingredient in several processed food products, confectioneries, and baking applications. In the cosmetics industry, corn starch is lauded for its oil-absorbing properties, making it a popular component in face powders and other skin-care products.

In the pharmaceutical sector, corn starch has carved out a niche for itself. It acts as a binder in tablet formulations and provides controlled drug release in certain medications. As the pharmaceutical industry continues to grow, the corn starch market demand is expected to witness an accelerated escalation in the forecast period.

Another emerging trend is the use of corn starch in the textile industry. As a sizing agent, corn starch aids in strengthening yarn, making it more resistant to breakage during weaving. The paper industry also benefits from corn starch; it's employed in the papermaking process to increase paper strength and as a surface sizing agent to provide a glossy finish.

An added boost to the corn starch market growth is its prominence in the biofuel industry. The rising demand for ethanol, a biofuel derived from corn starch, especially in regions with stringent environmental regulations, has surged the demand for corn starch. As countries seek to reduce their carbon footprint, the use of biofuels like ethanol becomes more prevalent, further elevating corn starch's importance in the global market.

Market Segmentation

The market can be divided based on type, application, and region.

Market Breakup by Type

• Native Starch
• Modified Starch
• Sweeteners

Market Breakup by Application

• Food and Beverages
• Animal Feed
• Pharmaceuticals and Chemical
• Textiles
• Paper and Corrugates
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global corn starch market. Some of the major players explored in the report by Expert Market Research are as follows:

• Cargill, Incorporated.
• Archer Daniels Midland Company
• Ingredion Incorporated
• Tate & Lyle PLC
• Roquette Frères S.A.
• Tereos SA
• AGRANA Beteiligungs-AG
• Grain Processing Corporation
• HL Agro Products Pvt. Ltd.
• Associated British Foods plc
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.