Published Date : Aug 01, 2016
Corn starch or commonly known by as cornflour is a starch that is derived from maize grain (corn). Corn starch is one of the most popular food items that is used in the kitchens across the globe. It is mostly used for making corn syrup or thickening soups and sauces. Thus, the global market for corn starch is witnessing a substantial growth across the globe in the last few years and is projected to grow at a fast pace in the coming years.
The global market for corn starch can be classified on the basis of product type into:
The booming food industry across the globe is one of the key factors expected to fuel the growth of the global corn starch market in the next few years. In addition, the increasing application base of corn starch owing to its use in diverse industries such as paper and corrugated, pharmaceuticals and chemicals, food and beverages, textile, animal feed, and others is another factor driving the overall market. Among these, the food and beverage segment accounts for the massive share in the global corn starch market at present. This segment is estimated to remain on the topmost position in the coming few years.
Increasing Participation to intensify competition among key players
Furthermore, the growing demand for corn starch has attracted numerous players to enter the market and expand their product horizon in the coming few years. The prominent players active in the global starch market are focusing on mergers and acquisitions to strengthen their position in the next few years and gain the competitive advantage in the overall corn starch market.
Some of the leading players in the global market for corn starch are Tate & Lyle PLC, Cargill, Incorporated, Associated British Foods plc, Kent Corporation – Grain Processing Corporation, Archer Daniels Midland Company, Ingredion Incorporated, Tereos Syral S.A.S, Roquette Frères S.A., AGRANA – Beteiligungs AG., and Global Bio-chem Technology Group Company Limited. Increased participation of players in the near future is expected to augment the growth the global market and intensify the competition.