Corn Starch Market Size Growing at 6.4% CAGR to Hit USD 17.06 Billion

Rise in the retail market, expansion of the food & beverage industry, and several characteristics of starch have boosted the growth of the global corn starch market. The market across Asia-Pacific is estimated to portray the highest CAGR of 7.5% during the forecast period. Covid-19 pandemic resulted in rise in demand for packaged food and sweeteners as they have a longer shelf life.

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The global corn starch market report includes an in-depth analysis of the prime market players such as Associated British Foods Plc, Archer Daniels Midland Company, Cargill, Inc., AGRANA - Beteiligungs AG, Tate & Lyle PLC, Ingredion Incorporated, Hodgson Mill, Roquette Frères S.A, Global Bio-Chem Technology Group Company Limited, and ACH Food Companies.

The global corn starch market generated $13.67 billion in 2019, and is expected to garner $17.06 billion by 2027, registering a CAGR of 6.4% from 2021 and 2027

Rise in the retail market, expansion of the food & beverage industry, and several characteristics of starch have boosted the growth of the global corn starch market. However, availability of numerous substitutes and rise in consumer consciousness about the negative effects of starch-rich diet hinder the market growth. On the contrary, surge in demand for clean label starch and resistant starch would open lucrative opportunities for the market players in the future.

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Covid-19 scenario:

Covid-19 pandemic resulted in rise in demand for packaged food and sweeteners as they have a longer shelf life.
However, the lockdown negatively affected the supply and distribution of packaged food & beverages.
U.S. and China are the major producers of corn starch. However, the declining output growth of corn starch and the pandemic has hindered production.
The global corn starch market is segmented on the basis of type, application, form, and region. Based on type, the modified segment is projected to portray the highest CAGR of 7.4% during the forecast period. However, the sweetener segment dominated the market in 2019, contributing to more than half of the market.

On the basis of form, the liquid segment held the lion's share in 2019, accounting for more than half of the market. However, the powder segment is estimated to manifest the highest CAGR of 6.9% from 2021 to 2027.

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The global corn starch market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific is estimated to portray the highest CAGR of 7.5% during the forecast period. Moreover, the region contributed the highest share in 2019, contributing to more than two-fifths of the market.

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