Enjoy complimentary customisation on priority with our Enterprise License!
To learn more about this report, View the Report Sample
The corn segment is estimated to witness significant growth during the forecast period. The starch from corn grain, more precisely from the endosperm of the kernel, is extracted to create corn starch. Generally, it is used in the food and beverage sector as a thickening agent, emulsifier, film-forming agent, gelling agent, and stabilizing agent.
Get a glance at the market contribution of various segments View the PDF Sample
The corn segment was the largest and was valued at USD 13.97 billion in 2018. The food industry is a major consumer of corn starch, followed by the non-food sectors such as the paper, cosmetic, textile, mining, and consumer products industries. It is generally used for manufacturing cardboard, cartons, and corrugated boxes for packaging. This has high demand due to its cheaper price. It is abundant in agricultural economies such as India and China. It delivers different health advantages and has a high nutritious value. In addition, health-conscious people largely consume it as it lowers their blood sugar levels. Therefore, such factors will fuel the growth of the corn segment in the market during the forecast period.
For more insights on the market share of various regions Download PDF Sample now!
North America is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Due to the mature market conditions in the region, the demand is anticipated to be moderate during the forecast period. Mexico is predicted to be one of the fastest-growing markets in the region. In the region, the demand for maltodextrin is also growing at a significant rate. The availability of native starch in abundance in the region is one of the key drivers for the market in North America. Globally, North America is one of the leading producers of these derivatives. Therefore, the high demand for these derivatives in the region is expected to drive growth in the market during the forecast period.
High demand for corn starch as a less expensive alternative is notably driving the market growth. The growth of the market can be attributed to the high demand for corn starch in the food and beverage industry due to the wide range of applications of these derivatives. The availability of corn in abundance, particularly in agriculture-rich countries like India and China, drives the growth of the market. Corn is a major source and is not only utilized as a thickening agent but also serves as a high-energy source. It is also valued for its organic and natural derivatives, which are considered alternatives for starch derivatives.
Corn starch derivatives, along with cassava starch and glucose syrup, are commonly used in processed foods for their functional benefits and as ingredients. Moreover, the use of corn starch is known to reduce blood sugar levels in humans. Additionally, corn starch is valued for its excellent soothing and moisture-absorbing properties. Furthermore, these find applications beyond the food and beverage industry, including their use in cosmetics as an effective solution for skin issues. The diverse range of applications for this ingredient makes it suitable for various purposes, thereby driving the market's growth during the forecast period.
Increasing preference for bio-based products is an emerging trend shaping the market growth. Rigid government guidelines and regulations on the use of synthetic food ingredients will have a significant impact on the market. The safety and purity of food products and ingredients are regularly checked by regulatory bodies such as the FDA. During the forecast period, stringent regulations such as a ban on several artificial ingredients, and permissible limits for synthetic food ingredients by regulatory bodies such as the FDA will increase the consumption of starch & its derivatives.
Moreover, the Federal Food, Drug, and Cosmetic Act (FFDCA) regulation restricts the use of artificial ingredients in cosmetics and self-care products. As a result, for manufacturing food and beverages, cosmetics, and personal care products manufacturers depend on bio-based derivatives. These factors are anticipated to fuel the growth of the market during the forecast period.
The constant fluctuation in raw material prices is a significant challenge hindering market growth. The market experienced oscillations in raw material prices associated with the production. The volatility in the prices of raw materials depends mainly on the natural vagaries and not just on the ease of availability. Moreover, native starch is used as the pivotal raw material used for the production. The changes in the prices of raw materials would not only lead to the companies in the market being uncertain about the fixation of prices delivered by them but also could lead to augmented prices of starch & its derivatives to earn a substantial profit margin in the market.
Further, due to the erratic availability of raw materials, as these are basically agri-products whose availability depends on natural vagaries, the fluctuations in the prices of raw materials tend to worsen the situation for the companies in the market. Consequently, constant fluctuation in raw material prices will impede the growth of the market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AGRANA BEteilgungs AG - The company offers starch derivatives products from corn, potatoes, and wheat for a range of applications such as Paper finishing, cardboard, coatings, and decorative cosmetics.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
Moreover, key trends include fat replacers, dietary foods, and organic alternatives. Biodegradable plastics and eco-friendly solutions are gaining traction, alongside non-GMO and gluten-free options. Tapioca, liquid starch derivatives, and modified starches are used in various food applications, with a focus on biodegradability and renewable sources. Cyclodextrin, glucose syrups, and natural sweeteners cater to health and wellness needs, while pharmaceutical, animal feed, and paper industry applications are expanding. The market supports plant-based products, veganism, and biodegradable packaging. Modified natural starch, thickeners, binders, gelling agents, and hydrolysates contribute to advancements in food technology, addressing chronic diseases and the aging population. E-commerce is facilitating access to these innovative solutions, aligning with the clean label movement and environmental protection.
Market Scope |
|
Report Coverage |
Details |
Page number |
167 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.04% |
Market Growth 2024-2028 |
USD 65.00 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.71 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
North America at 35% |
Key countries |
US, China, Japan, Germany, and Brazil |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AGRANA Beteiligungs AG, Archer Daniels Midland Co., B Food Science Co. Ltd., Beneo GmbH, Cargill Inc., Emsland Starke GmbH, Food Innovation Online Corp., Foodchem International Corp., Grain Processing Corp., Gujarat Ambuja Exports Ltd., Gulshan Polyols Ltd., Ingredion Inc., Jay Sardar Starch and Gum Consultant, Roquette Freres SA, Royal Avebe, Sanstar Bio Polymers Ltd., ShreeGluco Biotech Pvt. Ltd., Shubham Starch Chem Pvt. Ltd., Tate and Lyle PLC, and Tereos Participations |
Market dynamics |
Parent market growth analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the market forecast period. |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Raw Material
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Get the report (PDF) sent to your email within minutes.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.