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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Corn Starch Market Size
The global corn starch market reached a volume of approximately 87.15 million tons in 2023. The market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 2.7%, and is estimated to reach a volume of 110.77 million tons by 2032.
The US is the largest producer in the global corn starch market. The European Union is a significant global producer of corn, accounting for 6% of its total output and nearly 13% of its output in the EU is utilised in the production of starches along with glucose and other sweeteners. In 2017, the total starch production in the EU witnessed an increase of 1% as compared to the previous year, reaching over 9.4 million metric tons. Cooperatives and farmers in the region produced almost 24 million tonnes of agricultural raw materials for starch production. China is one of the major corn starch consuming nations, globally, having a significant share in the end-use sectors of processed corn starch like polyols and High Fructose Corn Syrup (HFCS).
The prices of corn starch are highly dependent upon its feedstock. Corn or maize accounts for nearly three-fourths of the total starch production, globally. The global corn output was nearly 1044.6 million tons in 2017. The US is a major corn producer, accounting for more than 35% of the global output. The country witnessed a record yield in 2017 due to favourable weather conditions conducive for the crop growth. It is also a leading exporter of corn. Globally, the corn consumption has witnessed a healthy growth over the past few years driven by the rising demand from major end-use sectors like ethanol, animal feed, and other industrial application. The production of sorbitol is another significant end-use sector of corn. The growth in demand is being driven by the major corn consuming nations like China and the US.
Corn Starch Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global corn starch market attained a volume of approximately 87.15 million tons.
The market is projected to grow at a CAGR of 2.7% between 2024 and 2032.
The market is estimated to grow in the forecast period of 2024-2032 to reach about 110.77 million tons by 2032.
The major drivers of the market include growing production of corn, increasing demand in the food industry, growing consumption of processed food products, rising demand in textiles and paper industry, rising disposable incomes, and rapid urbanisation, are expected to aid the market growth.
The increasing demand for corn starch to prepare biofuels is the key trend guiding the growth of the corn starch market.
The major regional markets are North America, Europe, the Asia Pacific, Latin America and the Middle East and Africa.
Native starch, modified starch, and sweeteners are the major type of corn starch in the market.
The significant applications of corn starch are food and beverages, animal feed, pharmaceuticals and chemicals, textile, and paper and corrugates, among others.
The major players in the market are Cargill, Incorporated., Archer Daniels Midland Company, Ingredion Incorporated, Tate & Lyle PLC, Roquette Frères S.A., Tereos SA, AGRANA Beteiligungs-AG, Grain Processing Corporation, HL Agro Products Pvt. Ltd., and Associated British Foods plc, among others.
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