Corn-Based Ingredients Market Size, Share and Global Trend by Type (Corn Starch, Feed Ingredients, Corn Oil, Fuel Ethanol, DDGS), Application Type (Animal Feed, Processed Foods & Beverages, Fuel) and Regional Forecast, 2024-2032

The Corn-Based Ingredients Market is exhibiting decent growth momentum owing to the robust production and consumption statistics – it is a cereal with the highest output worldwide with application spanning across sectors such as food and beverage, animal feed, fuel, and other industrial uses. The increasing focus on quality and label-claims have prompted manufacturers to improve the compositional profiles of their corn-based ingredients – certified, non-GMO, and other superior label claim traits are expected to fetch higher and sustainable sales growth in the foreseeable future.

The global corn-based ingredients market is driven by favorable supply-demand dynamics, which differs significantly from region to region in terms of production and consumption of corn-based ingredients. The ingredients are increasingly processed due to abundant availability of raw materials and demand from broad application areas.

The health-benefits and high process-ability of these ingredients are complementing the growth of the market. The price disruptions of raw material and growing replacement of corn-ingredients with other suitable cereal grains is a significant impediment to the global marketplace.

KEY PLAYER COVERED

Some of the key companies that are present in the global corn-based ingredients market are Cargill Incorporated, POET LLC, The Archer Daniels Midland Company, Bunge Limited, Tate & Lyle PLC, SunOpta Inc., Ingredion Incorporated, Limagrain Céréales Ingrédients, Roquette, VIVESCIA group, Gulshan Polyols Limited, and Valero Energy Corporation. The manufacturers are capitalizing on improving the functionality of these ingredients to cater to the rising demand from end-user industries such as confectionery, bakery, and other processed food sectors.

SEGMENTATION

Corn flour is the most widely used corn-based ingredient in the food processing industry, the rise in demand for ready-to-eat products owing to their on-the-go convenience has boosted the sales performance of corn flour. Corn oil is also experiencing higher demand from industrial sectors where it is employed for lubrication purposes.

The animal-feed application sector is dominating in the market as most of the corn harvested in the global marketplace is channelized to produce livestock feed. In many countries, corn is exclusively cultivated for its utilization as a feed ingredient. Processed foods and beverages are another essential application for corn-based ingredients. The food additives sector also utilize corn-based ingredients owing to their multi-functional traits. Right from serving as a bulking agent to starch-based sweeteners, the corn-based ingredients exhibit greater utilization rate in the processed food industry as compared to other cereal grains. The ingredients are also employed in specialty foods such as sports nutrition & weight management products, diabetic nutrition, nutraceuticals, and fortified/functional foods.

REGIONAL ANALYSIS

North America is one of the leading regional market for corn-based ingredients owing to strong corn production emerging from the United States. It is one of the primary ingredient utilized in the animal feed sector, accounting for more than 95 percent of total feed grain production and use in the U.S. Brazil and Argentina have significant contribution in corn production, but the majority of it is being exported to other consuming countries.

The Asia Pacific is projected to witness one of the fastest growth in the forthcoming years primarily due to the growing demand from different application sectors. China’s reform of its large corn sector has provided greater momentum to the supply-side sentiments of the market. Corn-based sweeteners are increasingly incorporated in soft drinks and other liquid products. The processed non-alcoholic beverages have witnessed strong demand in the Indian subcontinent and other South East Asian countries spurring the utilization of corn-based sweeteners.

KEY INDUSTRY DEVELOPMENTS

• In May 2018, Kalizea opened a new corn processing factory in Romania. KALIZEA is Europe's second biggest corn processing specialist. With an expected production capacity of 70,000 tonnes by 2021, this new plant will further increase its corn processing capacity.
• In February 2017, the U.S. Food and Drug Administration approved a type 2 diabetes risk reduction claim for Ingredion’s MAIZE resistant starch which is high-amylose-corn resistant starch. This regulatory development is expected to positively enable food manufacturers to communicate the relationship between high-amylose maize resistant starch and a reduced risk of Type 2 diabetes on the packages of conventional foods.