A new study on the global corn starch market has been recently added to the vast repository of Report Ocean. The report, titled “Corn Starch Market by Type (Modified, Native, and Sweetener), Application (Food Ingredient, Pharmaceutical, and Others) and Form (Powdered and Liquid): Global Opportunity Analysis and Industry Forecast, 2021–2027” offers a detailed study of this market on the basis of its past and current performance.
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The global corn starch market derives much of its growth from the wide-ranging utilization of corn starch in paper production, textile production, pharmaceuticals, cosmetics, and in the food and beverage industry. In 2019, the market reported an overall valuation of US$13.76 bn. Rising at a CAGR of 6.40% during the period from 2021 to 2027, the market is expected to reach US$17.06 bn by the end of the forecast period.
The market is expected to witness a significant progress in the years to come, thanks to the continuous changing pattern of food consumption of people across the world. Moreover, the expansion of the retail market and easy availability of corn starch through various sales channels is also predicted to support this market in the long run. On the other hand, the easy availability of various substitutes, such as rice starch and pea starch, and increasing concerns among people regarding the negative impact of starch-rich diet on health may hamper the growth of this market in the years to come.
Impact of Covid 19 on Global Corn Starch Market
The lockdown imposed due to the spread of Coronavirus across a number of nations has affected the global corn starch market substantially. With restaurants and eateries completely shut, the demand for food and beverages has drastically declined and so is the need for corn starch. However, as the governments are on their way to lift the lockdown and the food and beverage sector already reopened, the market is likely to get back to its normal self soon.
Global Corn Starch Market: Business Dynamics
The research study has evaluated the global corn starch market on four fronts: The type, application, form, and the region. On the basis of the type, the market has been categorized into modified starch, native starch, and sweetener. The demand for modified starch is likely to remain higher during the forecast period. Depending on application, it has been classified into food ingredient, pharmaceutical, and other application. The food ingredient segment is expected to dominate the market in the near future.
Based on the form, it has been categorized into powder and liquid. The liquid segment is expected to continue to lead over the next few years. Geographically, the market has been bifurcated into North America, Europe, Asia Pacific, and LAMEA. Currently, Asia Pacific has occupied the dominance and is anticipated to remain on the top in the forthcoming years.
Global Corn Starch Market: Competitive Analysis
The key players in the corn starch market are heavily relying on product launch as their key strategy to stay competitive amongst their peer group. Leading corn starch producers, profiled in the report, are Archer Daniels Midland Co., Associated British Foods Plc, AGRANA – Beteiligungs AG, Cargill Inc., Ingredion Inc., Tate & Lyle Plc, Roquette Frères S.A, Hodgson Mill, ACH Food Companies, and Global Bio-Chem Technology Group Company Limited.
- On the basis of type, the demand for modified starch is likely to remain higher during the forecast period.
- By application, the food ingredient segment is expected to dominate the market throughout 2021–2027.
- Based on the form, the liquid segment is expected to continue to lead over the next few years.
- Currently, Asia Pacific has occupied the dominance and is anticipated to remain on the top in the forthcoming years.
The global corn starch market is segmented into:
- Food Ingredient
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Latin America
- Middle East
Companies Mentioned in the Report
- British Foods Plc.
- AGRANA – Beteiligungs AG
- Cargill Inc.
- Ingredion Incorporated
- Tate & Lyle Plc.
- Roquette Frères S.A
- Hodgson Mill
- ACH Food Companies
- Global Bio-Chem Technology Group Company Limited
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