Corn Powder Market to See Competition Rise | Cargill, Incorporated, Ingredion Incorporated, Tate & Lyle PLC
Published Via 11Press : According to HTF MI, “Global Corn Powder Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2029″. The Global Corn Powder Market is anticipated to grow at a compound annual growth rate (CAGR) of 6.1% from 2023 to 2028, reaching USD 18.84 Billion in 2023 and USD 25.34 Billion by 2028.
Due to its numerous applications in several industries, maize powder has shown consistent growth in recent years. Corn powder, commonly referred to as cornflour or maize starch, is made from corn kernels and is frequently used in food and beverage items as a thickening agent, stabiliser, and filler. It is often used to make sauces, soups, bakery goods, and confectionery items in the food processing business.
Due to its binding and texturizing qualities, maize powder is also becoming more and more in demand in the pharmaceutical and personal care industries. Corn powder is more in demand as a replacement for items made from wheat because of the market’s trend towards natural and gluten-free components. Additionally, the market is expanding as more people become aware of the health advantages of maize powder, such as its low fat and calorie content.
Geographically, due to the well-established food processing sector and customer desire for convenience foods, North America and Europe retain sizable market shares. However, due to shifting lifestyles and rising disposable incomes, emerging nations in Asia-Pacific, Latin America, and Africa are seeing a boom in demand. Since maize powder has a wide range of uses and consumers choose natural and gluten-free foods, the market is anticipated to continue growing favourably in the near future.
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Key and developing players who have been highlighted as part of the coverage
- Archer Daniels Midland Company (United States),
- Cargill, Incorporated (United States),
- Ingredion Incorporated (United States),
- Tate & Lyle PLC (United Kingdom),
- Grain Processing Corporation (United States),
- Roquette Frères (France),
- Global Bio-chem Technology Group Company Limited (China),
- AGRANA Beteiligungs-AG (Austria),
- SunOpta Inc. (Canada),
- MGP Ingredients, Inc. (United States).
Market Drivers
- In the food sector, maize powder is frequently used as a thickener, stabiliser, and flavour booster. The demand for maize powder is rising as consumers desire more convenience foods such as soups, sauces and snacks. In addition, maize flour is gluten-free and can be used in gluten-free products in place of wheat flour.
- Corn powder is becoming more and more popular as a replacement due to growing customer demand and increased knowledge of diseases linked to gluten. Globally, the food and beverage business is expanding significantly. Numerous food products, including bread, confectionery, dairy and beverages, use maize powder.
- Corn powder demand is being driven by the growing food and beverage sector.
Market Trend
- The substances utilised in food goods are drawing the attention of consumers. Products with clean labels—those with few chemicals and artificial ingredients—are becoming more and more popular.
- To follow this trend, producers are concentrating on creating maize powder with natural and clean label qualities.
- Additionally, the need for alternative components is being fueled by the growing popularity of vegan and plant-based diets. Being a plant-based ingredient, maize powder is used in a variety of vegan and vegetarian food items, such as meat and dairy substitutes and plant-based beverages.
Market Opportunities
- Due to shifting lifestyles and rising disposable incomes, the demand for processed food products is increasing in emerging nations.
- To meet the rising demand for convenient foods, these markets present tremendous growth potential for maize powder producers. The market for maize powder also has chances for product innovation.
- To differentiate their products and increase market share, manufacturers might create specialised maize powder variations with increased functions, superior taste profiles, and greater nutritional qualities. In addition, maize powder has uses in industries other than food, including medicine, cosmetics, and animal feed.
- By investigating these non-food uses, the maize powder market may be able to find new development and expansion opportunities.
Market Restraints
- Due to variables including weather, crop yields, and international demand, the price of maize, the main raw material used to make corn powder, might fluctuate.
- The profitability of corn powder producers may be impacted by fluctuations in corn prices.
- Alternative components and alternatives, such as wheat flour, rice flour, potato starch, and other grain-based powders, compete with maize powder. Consumer preferences and purchase decisions may be influenced by the accessibility and cost of various alternatives.
- Additionally, a number of laws governing food safety, labelling, and quality requirements may apply to the maize powder sector. The production and distribution processes may become more complex and expensive as a result of compliance with these rules.
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Market Breakdown by Applications:
- Yellow Corn Powder,
- White Corn Powder
Market Breakdown by Types:
- Industrial,
- Retail,
- Food Services,
- Others
Report Scope
| The Market size value in 2023 | USD 18.84 Billion |
| Revenue Forecast by 2033 | USD 25.34 Billion |
| Growth Rate | CAGR Of 6.1% |
| Regions Covered | North America, Europe, the Middle East and Africa, Latin America, and the rest of the world |
| Historical Years | 2018-2022 |
| Base Year | 2022 |
| Estimated Year | 2023 |
| Short-Term Projection Year | 2028 |
Key Highlights of the Global Corn Powder Market Study:
Market CAGR from 2022 to 2029, the anticipated projection period
- Detailed information on market growth variables for maize powder over the coming several years. • Extensive Information on Corn Powder’s Future Trends and Shifting Consumer Behaviour
- A forecast of the size of the global maize powder market and its share of the parent market, broken down by kind, application, and nation.
- A thorough understanding of consumer demand in the maize powder industry
- A thorough understanding of the market’s competitors and information on all major stakeholders • Detailed information on the variables that will limit Corn Powder players’ growth
Transformation and Important Triggers:
- Significant changes in the technology and cost structure of the maize powder industry
- A turning point in globalisation
- The difficulties posed by regulatory compliance in the maize powder market
- A significant slowdown in developed economies
- The emergence of new forms of competition in the maize powder industry
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Craig Francis (PR & Marketing Manager)
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