Corn Starch Market Size, Industry Analysis Report, Regional Outlook-2024
Paper and textile industries are widely using it in making clothes and furniture upholstery, which is growing demand for corn starch market. Pricing of product depends on raw material, its availability, chemical and technology used in modification. The product is used as a calories booster, source of energy and treatment of hypoglycemia. Its wide usage for various purposes is boosting demand for corn starch market.
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Supply chain of corn starch market initiates from agricultural fields. Corn and wheat are major source for the product. Raw material is processed in the factories. After processing it is shipped to a grain storage facility for sale and distribution. The product is highly perishable in nature so it is transported in a temperature controlled container. It reaches to the producers and is used in different application. It is made available in grocery store, marts and others for consumption.
Alternative products including wheat, tapioca and arrowroot are playing as an obstacle in the growth of product demand. The product lacks nutrition and only adds on calories in the diet. Use of it is in foods item is growing at a very slow pace. Potential area in this sector is largely untapped. Restraints in this industry is due to legal restriction regarding the use of modified product in food items. Corn starch market is highly competitive in nature with rising numbers of key players entering in the industry. Unfavorable climatic conditions hamper overall production and supply chain of the product which affects price of the commodity.
Segmentation of corn starch market includes native and sweetener. The leader of this segment is sweetener. The product is mainly used in pharmaceuticals, chemicals, food, beverages, animal feed, paper making and textile. Food and beverages is the leader in this segment. With the development in the economies, growing income, corn starch market is attaining revenues.
North America is most lucrative region for corn starch market. Being the center of bio-ethanol policy and advancement in technologies for modification it is influencing price trends of the industry and has triggered demand for corn starch market. Consumption pattern of the economy is driving trade for this economy.
Asia Pacific led by China and India is expecting a prominent growth of 8% CAGR, manufactures are investing significantly in research and development of the product. Glucose syrup, and hydro lysates are the major market holders in this region. Use of the product is mainly in coating systems, wax, paints, insecticides, and firework explosion.
Europe produces over hundreds of products from physical to chemical and liquid to solid sweeteners. The products are used as ingredients and functional supplements in the array of food, non-food and feed application. The country produces maximum number of products and their derivatives every year. It is the major contributor in driving corn starch market.
Key players in the industry are Cargill, Ingredion Incorporated, Tate & Lyle, Avebe, Grain Processing Corporation, Global Bio-Chem Technology, Ajinomoto Company and others. These players are exploring the industry in new regions by adopting acquisition and mergers and development of new products. T Kingsford & son merged with its main competitor, Agro Ltd. Intention for merger was to extract starch from the granules. It was the far cheaper source than the commonly used wheat and potatoes. Earlier it was used as a laundry additive. After the merger companies could produce much more high-quality product that could be used as a thickener for soups and sauces.
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