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Corn and Corn Starch Derivatives Market Size
Corn and Corn Starch Derivatives Market size is anticipated to record substantial growth from 2024 to 2032, driven by the increased demand for processed food products. Of late, corn starch derivatives are recording widespread usage in a variety of food items as thickeners, emulsifiers, textural agents, and other purposes due to their numerous capabilities.
The demand for healthful snacks and baked goods made with corn has increased owing to growing urbanization and lifestyle changes. In addition, corn starch is extensively used to thicken foods, such as sauces, gravies, soups, and custards. With food producers launching new items made with corn in the market, the demand for corn and corn starch derivatives is increasing.
Moreover, the developing convenience food sector fueled by the rising number of convenience food sales outlets on driveways, gas stations, and other public spaces as they are convenient for customers to have meals on the go is propelling the demand for corn and corn starch derivatives. The interest in convenience food is also expanding due to increasing customer preference for nourishing and practical meals, the rise in disposable incomes, and the increased demand for snacks and fried food products, further supporting the industry growth.
Corn and Corn Starch Derivatives Market Trends
Corn oil is gaining significant popularity among health-conscious consumers owing to its heart-healthy unsaturated fats and Vitamin E content, subsequently contributing to its increasing use as cooking oil and food products. Additionally, the launch of new corn oil variants is offering enhanced nutritional profiles and improved functionalities for catering to the evolving consumer preferences, further augmenting the industry outlook. For instance, in February 2024, Origin Agritech Ltd., a renowned Chinese agricultural technology firm, made a significant advancement in its commercial corn hybrid product by incorporating a wild corn gene into its premier commercial corn hybrids for the first time.
Corn and Corn Starch Derivatives Market Analysis
Based on product, the market share from the corn starch derivatives segment is expected to account for a substantial revenue share by 2032. The increasing use of corn syrup as a sweetener to improve flavor as well as to maintain moisture in food products is propelling the product demand. It also improves stability in food items and shelf life in addition to texture and volume, further witnessing utilization in both the pharmaceutical and food & beverage industries.
In terms of application, the market from the food & beverage segment is projected to witness high demand between 2024 and 2032, attributed to the surging need for natural and functional ingredients. Moreover, corn-derived sweeteners like high-fructose corn syrup help cater to the sweetening needs of beverages and confectionery. The popularity of corn oil is also rising for its health benefits and culinary versatility. With the strong focus on clean-label products, food companies are increasingly turning to corn-based derivatives, further fueling the market expansion.
North America corn and corn starch derivatives market is set to exhibit robust growth till 2032. The demand for processed and packaged meals is increasing across the region due to the higher preference for homemade food alternatives. The U.S. is one of the leading producers of corn, prompting the domestic paper and board industry to use corn starch instead of any other raw material like tapioca and potato. Corn starch is currently utilized in 95% of the paper packaging in the U.S. as it is readily available locally. Moreover, the rising acceptance of cornmeal in the animal feed industry is increasing the regional market adoption.
Corn and Corn Starch Derivatives Market Share
Major corn and corn starch derivative companies are investing in R&D activities and continuously taking strategic initiatives, such as new product launches to strengthen their market position. To illustrate, Cargill stands as a key market participant with its top-quality products by offering a diverse range of corn-based solutions to meet various industry needs with innovation and sustainability.
Some of the key players operating in the corn and corn starch derivatives industry are-
- Agrana Group
- ADM
- Ingredion
- Roquette Frères
- Wacker Chemie AG
- Tate & Lyle
- Cargill
Corn and Corn Starch Derivatives Industry News
- In February 2024, Ingredion Inc. launched NOVATION Indulge 2940 starch, a non-GMO multifunctional native corn starch providing a unique texture for co-texturizing and gelling popular dairy and alternative dairy-based foods, as well as desserts.
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