Australia Corn Starch Market Report and Forecast 2024-2032

Australia Corn Starch Market Outlook

The Australia corn starch market size is expected to grow at a CAGR of 6.2% between 2024 and 2032.

Key Takeaways

• As per industry reports, in 2022, Australia imported USD 16.4 million worth of maize (corn) starch, ranking as the 23rd largest importer of this product globally. During the same period, maize (corn) starch stood as the 1551st most imported item in Australia. The country's main sources of maize (corn) starch imports include the United States (USD 4.81 million), South Africa (USD 2.74 million), New Zealand (USD 2.66 million), China (USD 2.51 million), and Turkey (USD 1.23 million).

• Between 2021 and 2022, the most rapidly expanding import markets for maize (corn) starch in Australia were the United States (USD 1.56 million), India (USD 534,000), and South Africa (USD 335,000).

• Employing approximately 18,000 individuals, the paper industry in Australia boasts an annual sales income exceeding USD 9 billion, derived from a total production output of around 3 million tonnes. Australia demonstrates one of the world's highest paper recycling rates, with over 69% of all paper and paperboard utilised being recovered.

Corn starch is a versatile ingredient widely used across various industries, including paper, textiles, food and beverage, and pharmaceuticals. Its applications range from serving as a filler and sizing material in the paper industry to being utilised in adhesives and oil-well drilling. The demand for corn starch is influenced by factors such as population growth, industrial development, and consumer awareness of clean-label ingredients which act as factors propelling in the Australia corn starch market growth.

In the food and beverage sector, the rising demand for processed and convenience foods has led to an increased need for corn starch, particularly in modified forms. Clean-label ingredients are becoming increasingly popular among consumers, driving the demand for natural and high-quality starches. Additionally, the prevalence of celiac disease and gluten intolerance has contributed to the growing demand for gluten-free starch alternatives.

The trend towards using ethanol as an alternative to gasoline is expected to drive further demand for corn starch, a key component in ethanol production. However, the market may face challenges from potential substitutions like arrowroot in the food industry. Despite these challenges, advancements in biotechnology and the discovery of new fermentation organisms present opportunities for market participants to innovate and expand their product offerings aiding the Australia corn starch market development.

For Australia's exporters of corn starch, markets such as Malaysia, New Zealand, the Philippines, China, and Hong Kong offer significant export potential. The corn starch market remains robust, driven by its versatile applications and the growing demand for convenience foods, industrial activities, and gluten-free ingredients.

Market Segmentation

Australia Corn Starch Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Modified Starch

• Native Starch

• Sweeteners

Market Breakup by Form

• Liquid

• Powdered

Market Breakup by Application

• Animal Feed

• Food and Beverages

• Textile, Paper, and Corrugates

• Pharmaceuticals and Chemicals

• Others

Market Breakup by Region

• New South Wales

• Victoria

• Queensland

• Western Australia

• Australian Capital Territory

• Others

Competitive Landscape

Key players in the market process and manufacture products to support the end users in the market.

• M and J Ingredients

• Cargill Australia Financial Services Pty Limited

• Manildra Flour Mills Pty. Ltd

• Steric Trading Pty Ltd

• Others

Key Highlights of the Report