Combination of Conducive Factors to Push Sales of Corn Starch Steadily Upward
The growing consumption of convenience foods and the healthy year-on-year growth in the paper and textile industries are creating highly a fertile ground for the growth in corn starch sales across the world, but particularly in the Asia Pacific region, says Transparency Market Research (TMR). Consumers of corn starch are seeking alternatives to cane sugar that are cheaper yet seamlessly fit into various applications. This has translating into high demand for corn starch.
According to TMR, the global corn starch market is estimated to be valued at US$22.1 bn by the end of 2016 and is expected to increase at a CAGR of 4.8% over the forecast period. The high output of maize, which has high a starch content, is one of the prominent factors driving growth of the global corn starch market. At the same time, the growing number of substitutes such as tapioca are restraining the growth of the global corn starch market to a certain degree.
Global Corn Starch Sales Defined by Strong Demand for Sweeteners in Food and Beverage Industry
The report segments the global corn starch market on the basis of product type into native starch, modified starch, and sweeteners. Of these, the sweeteners segment currently dominates with a share of over 50% in the global corn starch market. However, healthy growth is expected to be seen in the modified starch segment, which is projected to expand at the highest CAGR of 5.4% over the forecast period. The spiraling use of high fructose corn syrup (HFCS) in a variety of foods and beverages is a factor that will keep the demand for corn starch based sweeteners high.
Basis application, the global corn starch market is segmented into food and beverages, animal feed, pharmaceuticals and chemicals, textile, paper and corrugated, and others. TMR finds that in 2015, the food and beverages segment accounted for the highest share in the global corn starch market by application and is anticipated to continue to remain the leader during the forecast period.
North America to Remain at Forefront of Global Corn Starch Market
On the basis of geography, North America is the largest market for corn starch, in terms of both value and volume. However, the corn starch market in Asia Pacific is anticipated to expand at the highest CAGR of 6.4% over the forecast period. Demand for corn starch is increasing in Asia Pacific, especially in ASEAN, China, and India, where prominent corn starch manufacturers have invested significantly in the recent past. The market in MEA is expected to witness moderate growth as compared to other regions, finds TMR.
Major players in the corn starch market are focused on geographical and production capacity expansion. Companies are increasingly focusing on offering cost-effective solutions for applications in dairy products and frozen food products, among others. Key players in the corn starch market include Cargill, Incorporated, Archer Daniels Midland Company, Kent Corporation – Grain Processing Corporation, Associated British Foods plc, Global Bio-chem Technology Group Company Limited, Tereos Syral S.A.S, Roquette Frères S.A., Tate & Lyle PLC, Ingredion Incorporated, and AGRANA – Beteiligungs AG.
The report covers forecast and analysis for the global corn starch market on the global as well as regional levels. The study provides historical data of 2014 along with forecast for 2017 to 2024 based on volumes (‘000 units) and revenue (US$ Mn). The study includes drivers, restraints, opportunities, and trends for the global corn starch market with their impact on demand during the forecast period. Market dynamics in the report are justified with the help of quantitative and qualitative data, which are verified by primary and secondary sources. The report includes segmentation, targeting & positioning (STP) analysis and value proposition analysis to enable clients to differentiate their strategy.
In order to provide users of this report with comprehensive view of the market, TMR have included detailed competitiveness analysis and profiles of company players with unique selling propositions. The competition dashboard provides detailed comparison of corn starch manufacturers on parameters such as strategic focus, unique selling proposition, and market share. The study also provides market attractiveness analysis by application, product type, and region.
Inflation is not part of pricing in this report. Prices of corn starch vary in each region. Hence, similar volume-to-value ratio does not follow for each individual region. Prices of corn starch across major regions have been taken into account while estimating and forecasting market revenue on the global basis. We have used bottom-up approach to arrive at the global market, considering individual product segments and integrating them to deduce global numbers.
For this research report, we conducted in-depth interviews and discussions with key industry experts and opinion leaders. We reviewed key players’ product literature, press releases, white papers, annual reports, and relevant documents for competitive analysis and market understanding. Secondary sources include technical documents, statistical data from government websites, trade associations, and agencies. This has proven to be an effective, reliable, successful approach to deduce precise market data and recognize business opportunities.
Key players in the corn starch include Cargill, Incorporated, Archer Daniels Midland Company, Kent Corporation – Grain Processing Corporation, Associated British Foods plc, Global Bio-chem Technology Group Company Limited, Tereos Syral S.A.S, Roquette Frères S.A., Tate & Lyle PLC, Ingredion Incorporated, and AGRANA – Beteiligungs AG. Company profiles include attributes such as company overview, financial overview, business strategy, and recent developments.
The global corn starch market has been segmented as follows:
Global corn starch market on the basis of product type
- Food & Beverages
- Animal Feed
- Pharmaceuticals & Chemicals
- Paper and Corrugated
Global corn starch market on the basis of product type
- Native Starch
- Modified Starch
Global corn starch market on the basis of region
- North America
- Latin America
- Rest of Latin America
- Asia Pacific (APAC)
- Australia & New Zealand
- Rest of Asia Pacific
- Middle East and Africa (MEA)
- North Africa
- South Africa
- Sub-Saharan Africa
- Rest of MEA