Food And Beverages

5 Key Takeaways From The Corn And Corn Starch Derivatives Market Report 2024

December 19, 2023 by The Business Research Company

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

As per The Business Research Company’s Corn And Corn Starch Derivatives Global Market Report 2023, the corn and corn starch derivatives market is expected to show significant growth in the forecast period.

The corn and corn starch derivatives market has experienced robust growth in recent years, soaring from $74.11 billion in 2023 to an estimated $78.5 billion in 2024, with a commendable Compound Annual Growth Rate (CAGR) of 5.9%. The growth in the historic period is attributed to the burgeoning demand in the food and beverage industry, a rising need in the pharmaceutical sector, increasing industrial applications, and the expanding textile industry.

The Momentum Continues

Projected Growth in the Forecast Period

The trajectory of growth persists, with the corn and corn starch derivatives market expected to witness strong expansion in the next few years. Projections indicate a growth to $96.53 billion in 2028, propelled by a Compound Annual Growth Rate (CAGR) of 5.3%. Key drivers for this growth include a growing global population, the surge in processed and convenience foods, the inclination towards clean label and natural ingredients, and the increasing demand for biodegradable plastics.

Driving Force: Processed Foods

The Influence of Processed Foods

The increasing appetite for processed foods emerges as a significant driver for the corn and corn starch derivatives market. Processed foods, meals that are prepared, cleaned, cooked, and ready to eat without further preparation, have seen a substantial rise in demand. Corn and its derivatives play a vital role in enhancing the texture, flavor, thickening, stabilizing, and appearance of a wide range of processed food products.

Impact on Market Growth

As an illustration, processed food product exports surged from $11,671 million in 2020–21 to $13,261 million in 2021–22, according to the Agricultural and Processed Food Products Export Development Authority (APEDA). This surge in processed food demand underlines the pivotal role of corn and corn starch derivatives in meeting the evolving needs of the food industry, thereby driving market growth.

Innovations Steer the Market

Fibrin RS-Resistant Starch: A Game-Changer

Innovative products, such as Fibrin RS-resistant starch, are propelling the growth of the corn and corn starch derivatives market. Major market players, including Grain Processing Corporation, are dedicated to research and development, introducing products like Fibrin RS-resistant starch made from corn. This resistant starch not only enhances fiber content in food formulations but also reduces calories. The fermentation process during its production offers additional health benefits, including improved gut health, reduced inflammation, and lower cholesterol levels.

Major Players Shaping the Market

Key industry players, including Cargill Incorporated, Archer Daniels Midland Company, and Ingredion Incorporated, are at the forefront of driving innovation in the corn and corn starch derivatives market. Their commitment to delivering groundbreaking products underscores the industry’s dynamism.

Global Collaborations: Strengthening Agricultural Relationships

The US Grains Council’s Collaboration

In June 2021, the United States Grains Council forged a collaboration with an Egyptian corn starch company. This strategic alliance, aimed at enhancing factory profitability and streamlining operations, sought to strengthen the agricultural relationship between the US and Egypt. The collaboration also focused on promoting the export of US corn to Egypt and other countries, fostering international cooperation in the corn and corn starch derivatives market.

Market Dynamics: Segmentation and Regional Landscape

Key Market Segments

The corn and corn starch derivatives market is segmented based on:

By Product Type: Corn Starch Derivatives, Corn Oil, Corn Starch, Corn Meal Or Flakes Or Grits, Corn Flour, Other Product Types
By Function: Thickening Agents, Stabilizers, Sweeteners, Other Functions
By Application: Food And Beverage, Animal feed, Paper And Board, Pharmaceutical, Biodiesel, Textiles, Other Applications

Dominance in North America

North America emerged as the largest region in the corn and corn starch derivatives market in 2023, showcasing the region’s pivotal role in the industry’s growth and development.

Request A Sample Of The Global Corn And Corn Starch Derivatives Market Report 2023:

https://www.thebusinessresearchcompany.com/sample_request?id=12973&type=smp

The Corn And Corn Starch Derivatives Global Market Report 2023 provides an in-depth analysis on the corn and corn starch derivatives market size, trends and drivers, opportunities, strategies, and companiesanalysis. The countries covered in the corn and corn starch derivatives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –

Corn Gluten Meal Global Market Report 2023

Potato Starch Global Market Report 2023

Starch Derivatives Global Market Report 2023

Learn More About The Business Research Company
The Business Research Company has published over 3000+ detailed industry reports, spanning over 3000+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Contact us at:
The Business Research Company:https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at info@tbrc.info