Since the invention of plastic in 1970, it has performed a critical role in the health of the entire world. This 'wonder-product' is gradually chocking the environment and polluting every corner. Amidst the global generated plastic waste, India alone produces 25,940 tons of plastic waste a day. Initiatives are being taken to diminish and even eliminate the consumption of plastics, and the subcontinent is largely depending on corn starch as a suitable substitute. After displacing cyanide in gold extraction in 2013, the practice of corn starch usage is slowly gaining ground to create a green environment. Starch derived from the maize is often being used to fabricate biodegradable bags, trays, and others, which is steadily creating an impact on the India corn starch market. When the country is principally striving against plastics, a 32-year-old IAS officer executed a zero plastic policy in his workplace in Assam with the help of earthen cups and corn starch cutlery, almost two years ago. Eventually, it was illustrated in the 2019 Lok Sabha polls, in his area. This initiative is not only limited to Assam, as recent researches of Department Polymer and Surface Engineering, Institute of Chemical Technology, Mumbai, recommends that cornstarch-based bio-plastics are the future of sustainable packaging. The blend of corn starch with compostable polymers results as more efficient in reducing water-vapor permeability than others.

Many startups have envisioned the implementation of corn starch in biodegradable bags, and are working on their further development. Also, The Art of Living's Sri Sri Rural Development Program installed a bag making facility with the usage of corn starch at The Art of Living International Center in 2018. Furthermore, Bizongo, the winner of 2018 Dieline Awards, has presented an eco-friendly packaging solution of 5 compartments spill-proof meal tray with the usage of corn starch. Keeping the food habits and shift towards biodegradable packaging over PP and PET in mind, the makers have created India's first bio-degradable spill-proof meal tray to cater the sustainable, conscious consumers such as caterers, restaurants, takeaway joints, and others. This variation will open new scopes for the corn starch business leaders in the upcoming years.

As of 2018, the India corn starch market collected a revenue avenue of around 1.37 billion, which is expected to witness an increment with a CAGR of 3.9% during the forecast period 2019-2025.

India Corn Starch Market Analysis: Key Application

Alterations of corn starch utilization in India is not restricted to giving a greener environment, as numerous other discoveries and governmental policies are encouraging its need in various other sectors, such as cosmetics, 3D printing, shampoos, sanitary pads, and others. However, the significant utilization of corn starch can be witnessed in India food and beverages industry. Corn starch can be found in products, such as heart-healthy mayonnaise, low-fat yogurt, and others. Cyclodextrin, a corn starch helps in the reduction of cholesterol in egg yolks and, therefore, it becomes healthier, and can be used in various food processing.

On the other hand, low-fat yogurt is gaining attraction because of its weight control properties, where corn starch adds flavor, texture, and consistency to it. Corn starch is often used in several delicacies to enhance taste and thickness. As per the reports of the Department of Industrial Policies and Promotion (DIPP), India food processing sector received around $7.54 billion worth of Foreign Direct Investment (FDI) until 2017. The report further highlights that the sector has the potential to encourage investment of $33 billion over the next ten years generating employment of 9 million people per day. Besides, the government of India has aimed to boost the growth of the food processing sector by several governmental policies. In the 2017-2018 Union Budget, the government has set up a dairy processing infra fund worth $1.2 billion. Food, including dairy processing, involves the practice of corn starch. Therefore, these array of figures evinces an enriching India corn starch market outlook for the upcoming years.

India Corn Starch Market Trends & Growth Drivers:

After the global financial collapse in 2008, the starch industry has succeeded to gain stable grounds in the last few years. The outgrowing consumption of convenience food, and a healthy year-on-year growth towards a fresh environment, the India corn starch market is forging a promising prospect for the manufacturers. Here are the trends and growth drivers that are continually acting towards the increasing India corn starch market size –

· India Decreased Duty Tax on Corn Import Paving Opportunities for the Corn Starch Market Leaders –

Almost 15 million farmers are engaged in corn cultivation, and this generates employment of 650 million persons-day. Due to the recent invasion of the fall armyworm and dry weather in certain areas, India has increased import of corn with lower duty tax. Earlier, it had a 60% import charge on the grain, but on July 2019, the government lowered the import taxes on 400,000 tons of corn to 15%. The lack of corn has harmed cattle feed sector as well as corn starch market of the region. This lower duty will create a scope for more manufacture of corn starch, creating an impact on the India corn starch market overview.

· Loreal's Acquisition Plans in India to Create an Impact –

Beauty and makeup cosmetics, such as body powders, lipsticks, shampoos, and others have corn starch in it, and Loreal is one of the companies that extensively implement it in its products. In April 2019, the company announced scouting for acquisitions in the skin and makeup market in India. This will create opportunities for the business leaders of the cosmetic industry, supporting the India corn starch market growth.

Furthermore, beauty and personal care industry in India is expected to grow at a CAGR of 5%-6% estimating revenue of around $9.5-$10.5 billion until 2021. This will pave expansion prospects for several end-users of the India corn starch market.

· India Oil and Gas Industry to Leverage the Marketplace –

India' extreme energy consumption is going to increase the demand for primary energy to 1,516 million tons of oil by 2035. The industry is expected to witness $25 billion of investments in the production and exploration by 2022. Various governmental policies, such as CBM and OALP, will further encourage investments. The oil drilling fluid, which cools and cleans the drill bit, contains corn starch. These stunning figures focus on the expanding India corn starch market supported by the robustly growing oil and gas industry.

· Indian Startup Launches All-natural Sanitary Napkins Produced from Corn Starch –

Carmesi, a New Delhi-based company launched sanitary pads made out of corn starch and bamboo in January 2018. This 2016 established company serves women with allergy and chaffing rash-free pads that is a step closer to the menstrual hygiene programs launched by the country. Also, reports show that a woman can generate up to 125kg of non-biodegradable waste throughout the course of her menstruating years. This Carmesi pad is biodegradable and environment-friendly, as well as cheap. The company has already built a large number of customers, and hence, India corn starch market players are going to get benefited in the upcoming years.

· India's First Industrial Scale 3D Printing Machine to Pave the way for the Region's Corn Starch Market Expansion –

An eco-friendly 3D printer filament uses corn starch as one of its primary components. As of August 2018, India was set to manufacture its first industrial-scale 3D printing machine in collaboration with IISC's Society of Innovation and Development (SID) and WIPRO 3D. Also, the country is looking forward to this technology, as a scope to create manufacturing competitiveness and increase the average income per household by its Make in India initiative. To serve the large and varied consumer base, India is set to witness leapfrog opportunities in the next years by 3D printing technology. Therefore, corn starch will become an unavoidable component of 3D printers for a green environment, boosting India corn starch market.

India Corn Starch Market: Competitive Landscape

The principal business leaders who are currently holding maximum corn starch market shares in India and are focusing on the expansion of their manufacturing capacity to gain an edge over other market players are Prakash Starch Products, The Mysore Starch Manufacturing Company, Premier Starch Products Pvt. Ltd, Universal Starch Chem Limited, Everest Starch India Private Limited, SPAC Starch Products (India) Ltd., Vikkas Modified Starch Industries Pvt. Ltd., Universal Process Engineers Pvt. Ltd., Vaighai Agro Products Limited, Gulshan Polyols Ltd., Millennium Starch India Pvt.Ltd., and others.

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Related Reports:

a) Corn Starch Market

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