The global corn starch market reached a volume of 78.8 Million Tons in 2020. The market expects to exhibit around 96 Million Tons by 2026, expanding at a CAGR of 3.3 % during 2021-2026. according to the latest report by IMARC Group.
Corn starch is a white, odorless, and tasteless powder obtained from the white endosperm of the corn kernel. It is gluten-free and acts as a substitute for flour thickeners in marinades, stews, sauces, gravies, glazes, and soups. Corn starch is commonly used in the food and beverage (F&B) industry to add texture to fruits in pies, tarts, and other desserts. It also finds applications in coating paper, producing boxboard and insulating material boards. The pharmaceutical industry employs corn starch as a disintegrant and binder in tablets, emulsions, and ointments.
Global Corn Starch Market Trends:
One of the key factors driving the corn starch industry is the increasing utilization of the product as a food additive in various applications. It is widely employed for gum molding, thickening sauces and as a viscosity-control agent for binding baking ingredients. In line with this, due to hectic schedules and inflating disposable incomes, there has been a rise in the demand for processed food items that use corn starch as a key ingredient. Moreover, corn starch is rapidly gaining preference amongst health-conscious, vegetarian and vegan consumers as it is gluten-free and can be used as a substitute for eggs in baking and cooking. The growth of the market can also be attributed to the rising use of corn starch as industrial starch. It is widely employed in the production of paper and packaging, as well as in the textile industry for providing stiffness to clothes.
Some of the key players being: Cargill, Ingredion Incorporated (INGR), Archer Daniels Midland Company (NYSE: ADM), Tate & Lyle Plc (OTCMKTS: TATYY) and Roquette.
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Key Insights from the Report:
On the basis of the category, sweeteners represent the largest market segment. Other major categories include native starch and modified starch.
Based on the application, the market has been segregated into food and beverages, animal feed, pharmaceuticals and chemicals, textile, paper and corrugates, and others. Amongst these, food and beverages account for the majority of the market share.
On the geographical front, the market has been classified into the United States, China, European Union and Others. At present, the United States holds the leading position in the market.
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