Corn and Corn Starch Derivatives Market Size, Share, Growth Analysis, By Product Type(Glucose Syrup, High Fructose Corn Syrup, Corn Oil, Cornmeal), By Application(Food And Beverage, Pharmaceuticals, Animal Feed, and Others), By Function(Thickening Agents, Stabilizers, Sweeteners, and Others), By Region - Industry Forecast 2024-2031

Global Corn and Corn Starch Derivatives Market size was valued at USD 26.11 Billion in 2022 and is poised to grow from USD 27.21 Billion in 2023 to USD 37.81 Billion by 2031, at a CAGR of 4.20% during the forecast period (2024-2031).

Corn and corn starch derivatives market is highly fragmented, with the presence of several local and international players. The market players are focused on developing new and innovative products to meet the changing consumer demand and to gain a competitive edge in the market. The market players are also investing in research and development to introduce new and innovative products. For example, Archer Daniels Midland Company launched a range of plant-based meat alternatives in 2020, which are made from soy and wheat protein isolates and corn starch. Similarly, in 2021, Tate & Lyle PLC introduced a new range of stevia sweeteners, which are made from corn-based ingredients. Leading companies in the market for corn and corn starch derivatives include: 'ADM', 'Cargill', 'Ingredion', 'Tate & Lyle', 'Agrana Group', 'Roquette Frères', 'Wacker Chemie AG', 'National Starch & Chemical Company', 'Ashland', 'Fibersol', 'Archer Daniels Midland Company', 'Ingredion Incorporated', 'Roquette Frères', 'Grain Processing Corporation', 'Tereos S.A.', 'Avebe U.A.', 'Global Bio-Chem Technology Group Company Limited', 'AGRANA Beteiligungs-AG', 'Südzucker AG', 'Corn Products International, Inc.', 'AVEBE U.A.', 'Emsland Group'

Convenience food products refer to those food items that require minimal preparation and can be consumed quickly. These include ready-to-eat meals, packaged snacks, and beverages. The demand for convenience food products is driven by various factors such as changing lifestyles, increasing urbanization, and rising disposable incomes. The changing lifestyle patterns have led to a rise in the number of working professionals who have less time to prepare meals at home. This has increased the demand for ready-to-eat and easy-to-prepare food products. Moreover, the growing urbanization has resulted in the emergence of supermarkets and hypermarkets, which offer a wide range of packaged food products. These stores have made it easier for consumers to access and purchase convenience food products.

There is a growing consumer preference for natural and organic ingredients in food and beverage products, which is driving the demand for corn and corn starch derivatives as they are naturally derived and can be used as a clean label ingredient.

North America dominated the global corn and corn starch derivatives in 2021 and is expected to maintain its dominance throughout the forecast period. This region accounts for a significant share of the global market, primarily driven by the high demand for corn-based products in the food and beverage industry. Corn starch, high-fructose corn syrup, and corn oil are some of the most widely consumed derivatives in the region. The presence of major corn producers and processors such as the US and Canada has also contributed to the growth of this regional market