Global Corn Starch Market Size, Share, Opportunities, And Trends By Type (Native Corn Starch, Modified Corn Starch, Waxy Corn Starch, Others), By Application (Food & Beverages, Animal Feed, Pharmaceuticals, Industrial Applications, Others), And By Geography - Forecasts From 2024 To 2029

Cornstarch is known to be a common ingredient that is produced from the starch portion of corn kernels, known as the endosperm, and is commonly used as a thickening agent for marinades, gravies, sauces, soups, and casseroles. Corn starch has various applications in a wide range of industries, which include the food and beverage industry, cosmetics, and industrial applications. It is also known to be used in medical applications, such as oral applications, where it facilitates the disintegration of capsules and tablets. It is commonly used as an alternative to wheat flour in gluten-free food products and a substitute for baby powder. The industrial applications of corn starch include paper production, acrylic paint products, and adhesives.

Introduction:

The global corn starch market is expected to witness significant growth during the forecasted period of 2024-2029, due to the increase in demand for gluten-free products, which is further influenced by the increasing prevalence of gluten intolerance among people worldwide.

Market Drivers:

• Growth in demand for gluten-free products: Corn starch is naturally considered gluten-free. The production of corn starch is expected to increase in growth due to the increase in demand for gluten-free products in the market. The reason for an increase in demand for gluten-free products is due to the increasing prevalence of gluten intolerance among people in the world. As the number of people who suffer from gluten intolerance increases, the demand for gluten-free products will also rise. Gluten intolerance is known to have a wide range of side effects, which include abdominal pain, anaemia, anxiety, bloating, brain fog, constipation or diarrhoea, fatigue, headache, joint pain, nausea and vomiting, and skin rash. It has been found that an estimated 6% of the US population is suffering from gluten intolerance.  The increase in the prevalence of gluten intolerance, therefore, drives the need for gluten-free products in the market, further driving the corn starch production in the market. The Gluten-Free Certification Organization (GFCO) states that the gluten-free market is expected to increase to reach an estimated $14 billion by 2032 globally, with 9,300 products and 800 brands worldwide being recognized by the GFCO in 2022.  This increase in the gluten-free market growth can be linked to the increase in consumption of gluten-free products, which further increases the corn starch market growth during the forecasted period.

Key Players:

• Cargill, Incorporated: An American multinational agribusiness company known for the production and distribution of food, agriculture, and industrial products that nourish the world responsibly and sustainably. They are also one of the leading suppliers and producers of food starches and derivatives, which include corn starch.
• Ingredion: A global leader and multinational company that is known for the production and distribution of ingredients solutions, which include sweeteners, starches, and various other ingredients, to consumers in over 120 countries.

Regional Analysis:

The North American region is expected to witness significant growth in the corn starch market during the forecasted period of 2024-2029. The factors that affect the market growth are the increasing consumption of processed foods and the increasing relevance of key players in the global market from the region. The United States accounts for the majority of the corn starch industry expansion. It has been found that corn refiners in America buy and process between 10% to 15% of the corn production yearly, with an annual output of US$47.50 billion and starch exports of US$349.82 million, which is a portion of the total corn exports of US$1.83 billion.  The US Grains Council states that the US consists of 28 industrial starch plants and uses an estimated 90 MMT (3.5 billion bushels) of corn yearly.  The increase in the usage of corn for the production of corn starch can be linked to various reasons, such as the increase in consumption of processed foods and the seasoning and dips market growth. Corn starch is known for being used as a thickening agent for dips, sauces, and other processed food products. The increase in growth of processed food consumption will drive the corn starch market growth. As per Medrxiv.org, 73% of the US food supply consists of ultra-processed foods, which is further influenced by the 52% lower costs compared to minimally processed alternatives. The pricing of processed foods allows consumers to be attracted to them, providing it as an alternative convenience to minimally processed foods, further increasing the consumption of processed foods in the market. Coupled with this, the increase in the production of corn can also drive the corn starch industry expansion since the production of corn starch is dependent on the corn crop. Therefore, the North American region is expected to witness a significant increase in market growth with the presence of global leaders such as Cargill Incorporated, and Ingredion and the increasing corn production, which is further influenced by the increase in demand for processed foods in the market.

Market Developments:

• November 2022: Novozymes announced the launch of their enzymatic corn separation solution, which revolutionizes the industry by allowing starch manufacturers to run their corn mills in an improved and efficient manner, which is normally not possible with mechanical separations only.  The enzyme dubbed Frontia Fiberwash allows plants to improve their starch yield capabilities, cut energy costs, and improve their CO2 footprint. The products helped improve the overall starch yield from corn in the industry, driving an increase in the global corn starch production and distribution worldwide.

Segmentation:

• By Type:
  • Native Corn Starch
  • Modified Corn Starch
  • Waxy Corn Starch
  • Others
• By Application:
  • Food & Beverages
  • Animal Feed
  • Pharmaceuticals
  • Industrial Applications
  • Others
• By Geography:
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Others