Corn And Corn Starch Derivatives Market Size, Share & Trends Analysis Report By Product (Corn Starch, Corn Starch Derivatives, Corn Oil, Corn Flour, Corn Meal/Flakes/Grits), By Application, By Region, And Segment Forecasts, 2022 - 2030

Corn And Corn Starch Derivatives Market Size, Share & Trends Analysis Report By Product (Corn Starch, Corn Starch Derivatives, Corn Oil, Corn Flour, Corn Meal/Flakes/Grits), By Application, By Region, And Segment Forecasts, 2022 - 2030

Corn And Corn Starch Derivatives Market Growth & Trends

The global corn and corn starch derivatives market size is expected to reach USD 118.0 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.4% from 2022 to 2030 in terms of revenue. The market is anticipated to propel in the coming years due to the increasing adoption in food and beverages, detergent, paper and board, and processed food industries.

Rising demand for convenience food products due to the increasing female working population, coupled with rising living standards and economic conditions, is expected to have a positive impact on the market. Increasing penetration of corn starch in household recipes as a thickening agent for marinades, casseroles, sauces, gravies, and soups is further propelling the market growth in the forecast period. Corn starch is also helpful for humans in treating glycogen storage disease (GSD), and this factor will also have a positive impact on the market.

Corn oil is a type of vegetable oil extracted from the corn germ, found in both edible and non-edible forms. Corn oil consists of polyunsaturated fatty acids and has a low content of saturated fats, owing to which it is considered a healthy alternative compared to other edible oils. Thus, rising cases of lifestyle diseases along with changing consumer perception toward a healthy lifestyle are expected to drive the demand for corn oil in the forecast period. Furthermore, the increasing usage of corn oil in biofuel production as well as several other industrial products, which include soaps, textiles, paints, poultry, pharmaceuticals, and pesticides, are projected to propel market growth.

Leading market players are focused on introducing new products to increase their market share and consumer base. Increasing awareness for plant-based protein among consumers is raising the demand for corn protein in savory products, canned fish, canned meat, seasoning mixtures, instant snacks, puffed food, and many more. Advancement of technologies in corn production to increase the yield is also expected to increase the usage of it as raw material in various applications.

The market in Asia Pacific is projected to have a significant CAGR during the forecast period. Favorable and supportive government agricultural policies as well as shifts in consumer eating styles have raised the demand for convenience and processed food products, thus driving market growth in this region. Remdesivir injection helps to restrict the spread of the SARS-CoV-2 virus as well as helps adults for quick recovery. Thus, the rising pharmaceutical industry with increasing usage of cyclodextrin in the manufacturing of remdesivir injection has raised the demand for corn starch.

Corn And Corn Starch Derivatives Market Report Highlights

• In terms of value, the corn starch derivatives segment became the largest product in 2021, owing to increasing demand for jams, candies, jellies, and baked goods
• Paper and board are anticipated to experience the highest CAGR owing to the rising demand for recyclable packaging. This factor is also propelling the demand for corn-based starch in the bioplastics industry
• The Asia Pacific corn and corn starch derivatives market is anticipated to have the highest CAGR over the next eight years, owing to the growing working population and customer’s adaptation to a western food lifestyle
• The major players in the corn & corn starch derivatives market include ADM, Cargill, Ingredion, Tate & Lyle, Agrana Group, Roquette Frères, and Wacker Chemie AG