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(HomeGarden247.com, June 08, 2018 ) Corn Starch Market was worth USD 22.1 billion in 2016 and estimated to be growing at a CAGR of 4.8%, to reach USD 27.63 billion by 2021. After cellulose, starch is the most abundant carbohydrate in nature. It can be found in seeds, roots and tubers of higher plants for energy storage. Starch is extracted from various natural products like- corn, cassava, wheat and potato and in a lesser amount from rice, barley, sorghum, sago, etc. Corn is currently the most commonly used accounting for around 80% of the total global starch production. Corn starch is obtained from the endosperm of the corn kernel.
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It is used for many culinary, household, and industrial purposes. In the kitchen, corn starch is regularly used as a thickening agent for sauces, gravies, glazes, casseroles, pies, soups, and other desserts. It is also used in making corn syrup and bio plastics. Corn starch is gluten free product and only includes carbohydrates.
The significant demand for convenience and ready to eat food items has been largely responsible for the considerable growth of this market. The increasing consumption of ready-to-mix food items and soaring demand for cake mixes, coffee mixes, and instant tea mixes has also resulted in an increased demand for corn starch over the last couple of years. An increased yield of genetically modified corn has resulted in a high output of maize. As a result, there is an assured supply of corn starch made available to food industries. With the rise in the strengthening economies of Asia-Pacific region, many companies and industries have come up in that region. This in turn has lead to an increase in the demand for paper, hence boosting the growth of the corn starch market. Tapioca and Cassava are some of the corn substitutes which are being used nowadays, restricting the growth of the corn starch market in the years to come. There has been an increase in the use of cassava in the past few years.
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The Global market for Corn Starch is broadly categorized by product- Native starch, Modified starch and Sweeteners. Based on Application, the market is further segmented into Food and Beverages, Animal feed, Pharmaceuticals and chemicals, Textile, Paper and Corrugates and Others. By product, sweeteners segment accounts for about 50% of the total revenue share and is likely to lead over the forecast period. The modified starch segment is expected to grow at a significant rate in the next few years. By application, food and beverages is the major segment of this market. On the basis of geography, the global market is analysed under various regions namely North America, Europe, Asia-Pacific, Latin America and Middle East and Africa. The Corn Starch market was dominated by North America, with the overall market share of over 35% globally. North America was followed by Europe and Asia-Pacific. Asia Pacific is predicted to grow at a rapid pace in the coming few years.
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Major corn starch market participants include Cargill Incorporated, Grain Processing Corporation, Croda international, Akzo Nobel NV, Bayer AG, Ajinomoto Company Incorporated, Henkel KGaA, Associated British Foods plc, Calpis Company, Archer-Daniels-Midland Company, DuPont (EI) de Nemours, and BASF. Other players operating in the market include Minnesota Corn Processors LLC., Monsanto Company, Cognis Corporation, Cerestar USA Incorporated, and Novo Nordisk A/S.
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