With every passing year, the consumption of convenience foods is increasing and the healthy year on year growth in the textile as well as the paper industry have created a high demand for corn starch production. This has led to an increase in sales of corn starch around the world, especially in the Asia pacific, like India. The fact that maize starch is a cheaper and more applicative alternative to cane sugar has also led to the overall increase in demand and hence supply. According to Transparency Market Research (TMR), the global corn or maize starch market is estimated to be valued at a whopping US $22.1 billion by the end of this year. Infact it is expected to increase by a staggering 4.8% over the forecast period.
One of the main factors which is driving the maize starch market globally is that the overall output of maize is really high and the starch content in it too is high. However it is important to remember that the rising number of alternatives or substitutes like tapioca are at the same time restraining the growth of the global corn starch market to a certain degree. On the basis of product type, corn starch is in the category that consists of native starch, sweeteners and modified starch. Out of these, the sweeteners category presently dominates and has a share of more than 50% in the global corn starch market. As far as starch segment is concerned, a heavy growth is expected and it is projected that it will grow at a rate of 5.4% over the next forecast time period. The use of fructose corn syrup has been increasing rapidly in beverages and foods and this is a factor which may keep the demand of corn starch based sweeteners high.
In the year 2015, the food and beverage segment made use of the highest amount of global corn starch market by application while some of the other segments in which it is used are pharmaceuticals, animal feed products, textiles, paper and chemical industries. The food and beverage industry is however likely to be the leader in this aspect.
As far as geographical share is concerned, the North American region is the largest market for corn starch or maize starch but even the Asia Pacific region is likely to grow its share and will be increasing at an expected rate of 6.4% some of the countries in which the demand for corn starch and hence the production is increasing rapidly include China, India and others. In these countries, companies that produce Corn starch such as HL Agro in India are focussing greatly on offering several cost effective solutions for applications in frozen food products, dairy products and others.
HL Agro pioneers the bulk production & global supply of Indian corn starch and its derivatives such as corn germ, corn fiber, corn gluten and corn starch powder etc. You too can contact it to place bulk or wholesale orders for these corn products.