Market Trends of Corn Starch Industry
This section covers the major market trends shaping the Corn Starch Market according to our research experts:
Increase in Demand for Clean-label Ingredients
The trend of clean-label ingredients and products is drastically impacting food and beverage as well as other industries operating across the world. The rising health consciousness among consumers and the high demand for natural, pure, and high-quality products have generated the demand for clean-label starches. Also, with the global economy gradually improving and resulting in an increased intake of processed and convenience foods, the market for modified starch, which finds substantial usage in these food applications, is witnessing increasing demand. This, in turn, is increasing the overall growth of the corn starch market.
Companies have acknowledged this rising demand for clean-label corn starch, owing to the increasing demand for clean and simple ingredients, and are creating products to satisfy consumer demands. Additionally, market players are expanding their production capacity. For instance, in September 2022, Ingredion set up a state-of-the-art starch production facility in China that will produce sustainable products. The new specialty starch plant that Ingredion has built will assist the company in advancing sustainable production and securing supply to the global food and beverage chain.
North America Holds the Major Market Share
North America holds the leading position in the corn starch market due to the high consumption of processed and instant or convenience food products in the region. The United States formed the largest market in the region. The abundance of corn as a raw material in the country and the low prices of corn starch are the key drivers fuelling the growth of the corn starch industry in the US and North American markets. The rising population and increase in disposable income among consumers in the region cater to the rising consumption of processed and convenience food, thereby increasing the demand for corn starch. Major players in the market are creating products catering to the demands of the region.