Global Corn Starch Market: Market Outlook
Starch is a highly functional carbohydrate in its unmodified state. It can be modified physically, chemically and enzymatically to meet specific needs. Corn starch sometimes also referred to as corn flour, is a carbohydrate extracted from the endosperm of corn. Since corn starch is made from corn which consists only of carbohydrates and no proteins, it is considered gluten-free. Corn starch is a naturally abundant nutrient carbohydrate consisting of a large number of glucose units. Corn starch derivatives are prepared by treating starch through different processes such as hydrolysis, extraction, purification and chemical treatment to be utilized in a wide range of food and non-food applications. The global corn starch market was not at pace until the development of the technological extraction of starch from corn was developed immensely in the late nineteenth century. The development and continuous improvement of this process over the past decade has allowed the corn refining industry to offer consumers with an abundant supply of starch derivatives tailored to meet the most exacting needs of individual customers. The exhaustive use of derivatives of corn starch in the food ingredient industry is expected to drive the growth of the global corn starch derivative market.
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Global Corn Starch Derivatives Market: Market Dynamics
The corn starch derivatives form an integral part of the food ingredients market and their demand in the food industry and other industrial segments is increasing rapidly which is expected to drive the growth of the global corn starch derivatives market over the forecast period. A broad spectrum of functional properties exhibited by corn starch derivatives coupled with their easy incorporation in a wide range of applications increased consumption of processed food is expected to fuel the global corn starch derivatives market over the forecast period.
A large proportion of the population remains doubtful about the efficacy of entities like derivatives of corn starch. Associated allergies with corn starch coupled with a significant failure in building faith among the consumers are one factor that is expected to hamper the growth of the global corn starch market over the forecast period.
Global Corn Starch Derivatives Market: Segmentation
On the basis of type, the corn global corn starch derivatives market has been segmented as,
- Glucose Syrup
- Spray Dried Starch
On the basis of application, the global corn starch derivatives market has been segmented as,
- Food and Beverage
- Bakery & Confectionery
- Snacks & Savory
- Sausage & Dressing
- Breakfast & Cereals
- Personal Care & Cosmetics
- Animal Feed
On the basis of region, the global corn starch derivatives market has been segmented as,
- North America
- Latin America
- South Asia
- East Asia
- Middle East & Africa
Global Corn Starch Derivatives Market: Key Players
Several key players are engaged in the business of the global corn starch market are, Archer Daniels Midland Company, Cargill Incorporated, Corn Products International Inc, National Starch, and Chemical Company, Penford Products Co., Roquette America, Inc., and others. These Key players are looking for new opportunities in the global food and beverage, pharmaceuticals, nutritional and supplement, and cosmetic and personal care industry by improving innovation and developing corn starch products.
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Opportunities for the Key Players in the Global Corn Starch Derivatives Market
According to the World Health Organization, the global population is expected to reach 9 billion by 2050. With the increasing population, the demand for food and beverage products is also increasing widely, which is expected to fuel the growth of the global corn starch derivatives market. North America is expected to dominate the global corn starch derivatives market by holding the largest share. The Asia Pacific is one of the fastest-growing based on both population and economy. The increasing middle-class population and increasing health-conscious consumers Asia Pacific region are expected to witness the highest growth rate over the forecast period of the global corn starch derivatives market.
As the effects of COVID-19 are felt around the world, consumer products food & beverage companies are facing significantly reduced consumption and supply chain disruption challenges. While at-home consumption has been showing a spike over the last two weeks, out-of-home consumption has come to a standstill. Corn Starch derivatives are mostly consumed by the food and beverage industry. As of now, due to disrupted manufacturing and supply chain, the demand for corn starch derivatives is decreased globally. Besides the manufacturing of personal care and cosmetics products is also decreased due to COVID-19, and other animal feed, pharmaceuticals also producing limited and essential products which limited the growth of the global corn starch derivatives market. These factors are expected to leave a footprint on the global corn starch derivatives market for at least the next couple of years.
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