Cornstarch Market Overview:
According to the University of Chicago Medicine, 1 out of every 133 Americans suffers from celiac disease. The disease directly or indirectly affects 3 million Americans every year. A 100% gluten-free diet is the only known solution to combat this disease which in rare cases, can also lead to cancer. The food and beverage industry is saturating with gluten-free products which apart from being a cure to celiac disease, are also solicited for leading a healthier life in general. Cornstarch is one such product that is completely gluten-free with a negligible amount of protein in it. Though not a source for muscle development, cornstarch falls under the complex carbohydrate category and is used for incorporating in packaged or freshly cooked gluten-free dishes. In recent years, cornstarch has become an important component of the culinary and household industry for its adhesive property.
The cornstarch market demand will grow at a standard compound annual growth rate (CAGR) of 4.5%-5.5% during the forecast period of 2019-2025. In 2018, the global cornstarch market value size was estimated to be between $10.1 billion to $10.5 billion.
Cornstarch Market Outlook:
Cornstarch is a type of starch that is obtained from the endosperm of a maize kernel. Very prevalent in the food and beverage industry, it is regularly used both in industries and at home in the thickening of sauces and gravies. Fast food joints regularly utilize the product for its properties as an adhesive. During the forecast period of 2019-2025, this application segment is expected to grow with a CAGR of 5%-6%. Since the biggest market for mixed and instant food resides in North America, this region is the geographical leader of the cornstarch market with a regional share of 30%-32% in 2018. Cornstarch is also useful for industrial purposes where it is used in the production of latex materials like gloves, and diaphragms. Medically, cornstarch is used to maintain glucose levels in the body of those people who suffer from glycogen storage disease. Households, especially in the Asia-Pacific region have been an avid user of cornstarch since time immemorial. Ancient uses of cornstarch include using it as a stiffener for clothes.
Cornstarch Market Growth Drivers:
- High Maize Production Around The World
Maize is one of the most easily produced crops in the world and its global production between 2018-2019 was forecasted at 1068.30 million tons. A high maize production supplements cornstarch market growth by making the product available more than required. Since cornstarch is available in such a high quantity, it is used in multiple industries, the prominent one being food and beverage.
- Industrial Starch Market Demand Cornstarch
For its natural adhesive quality, cornstarch is often used as an industrial starch especially in the manufacturing of paper and packaging. Coating of paper is done with the help of starch as the final product is smooth, white, and stable. Textile factories are another consumer of cornstarch as they use the product for providing stiffness to the clothes. Such wide and diverse use of cornstarch helps in generating demand for its market.
Cornstarch Market Challenges:
One of the major challenges faced by the cornstarch market is the rise of starch alternatives like tapioca starch. They have become quite popular especially in the Asia-pacific region. One way to combat this challenge is to market cornstarch properly and bringing forth its benefits to the general public.
Cornstarch Market Key Players Perspective:
Key market players in the cornstarch market are Cargill Incorporated, Grain Processing Corporation, Croda International, Akzo Nobel NV, Bayer AG, Ajinomoto Company Incorporated, Henkel KGaA, and Associated British Foods.
Cargill Incorporated, headquartered in Minnesota, United States is a major producer of industrial starches including a variety of cornstarch, obtained from different species of maize.
Cornstarch Market Trends:
- Cornstarch Used For Biodegradable Products
Since plastic made from petroleum is a major environmental polluter, with the entire world vehemently against its usage, cornstarch is being used to develop biodegradable products like polybags, diapers, water bottles, plates, food storage containers, cups, straws, cutlery, etc. Cornstarch is converted into a polymer in commercial facilities and used to make these products. The most advantageous thing about these products is that they can be decomposed at home in the compost pile. The demand for these products is only in its nascent stage and will disrupt the cornstarch market in the upcoming years.
Cornstarch Market Research Scope
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the cornstarch market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of cheese in the cornstarch market and their specific applications in different areas.
Cornstarch Market Report: Industry Coverage
Cornstarch market is segmented on the basis of product, application. By product, the market can be divided into hydrolyzed, ether, resistance, hybrid natural, & pre-gelatinized. On the basis of application, the market can be bifurcated into food & beverages, animal feed, pharmaceuticals & chemicals, textile, paper & corrugated, and others.
The cornstarch market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
- North America: The U.S., Canada, Mexico
- South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
- Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
- APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
- Middle East and Africa: Israel, South Africa, Saudi Arabia
Key Questions Addressed in the Global Cornstarch Market Report
1. Is the market for Cornstarch growing? How long will it continue to grow and at what rate?
2. Which type of Cornstarchs presents the major growth opportunities?
3. Is there a possibility for change in the market structure over time?
4. Are additional developments needed for the existing product or services offerings or do the existing products meet the customer demands?
5. Do the key vendors look for partnerships to expand their businesses with respect to geography or product?
6. What is the current status of professional cameras in different countries?
7. Which are the major relevant product segments within Cornstarchs?
8. Which type of Cornstarch will witness heavy adoption in the near future?
9. What are the short-term, long-term, and medium-term growth drivers for the market?
10. What are the short-term, medium-term, and long-term challenges for the market?
11. What are the short-term, medium-term, and long-term opportunities for the market
12. Who are the top players/companies of the market?
13. What are the recent innovations in the market?
14. How many patents have been filed by the leading players?
15. What are the types of patents filed by the leading players?
16. What is the futuristic scenario for the adoption of the Cornstarch market?
17. What is our vision 2030 for the Cornstarch Market?
A few focus points of this Research are given below:
- Give a deep-dive analysis of the key operational strategies with focus on the corporate structure, R&D strategies, localization strategies, production capabilities, and sales performance of various companies
- Provide an overview of the product portfolio, including product planning, development, and positioning
- Discuss the role of technology companies in partnerships
- Explore the regional sales activities
- Analyze the market size and giving the forecast for current and future of the Cornstarch during the forecast 2019–2025
- Analyze the competitive factors, competitors’ market shares, product capabilities, and supply chain structures