This corn starch category is anticipated to grow at a CAGR of 6.60% from 2023 to 2030. North America is the leading market in this category primarily because of its large consumption of processed and convenient food products which is driven by a growing population and higher disposable incomes. In the Asia-Pacific region, rapid economic expansion and changing consumer lifestyles contribute to the fastest CAGR with China leading the market and India showing the highest growth rate in this category.
The category's growth is driven by its utilization as a thickening agent in the food industry, usage in garments, cosmetics, and pharmaceuticals, and the increasing demand for bioplastics. It finds extensive adoption in the paper, textiles, and adhesives industries and demand for clean-label starch in the food sector.
This category is highly fragmented with the presence of both global and regional players. Key players in the market employ strategies like acquisitions and new product development to consolidate their positions and optimize their offerings, with a strong emphasis on expanding manufacturing capacity and diversifying product lines. This enables them to meet growing market demand while simultaneously expanding their global presence.
• In May 2022, ADM a leading company in starch manufacturing has strategically invested in expanding its facility in Marshall, MN aiming to meet the increasing demand for starch products and solidify its market position. This move enables ADM to better serve its customers and enhance its competitive advantage in the starch industry.
• DFE Pharma, a leading provider of excipients for the pharmaceutical and nutraceutical industries, bolstered its nutraceutical portfolio in January 2022 with the introduction of three new starch-based excipients. The newly launched products include Nutroféli ST100, which is a native maize starch, Nutroféli ST200, a partially pre-gelatinized maize starch, and Nutroféli ST300, a fully gelatinized maize starch. This strategic product expansion enables DFE Pharma to offer a wider range of starch-based excipients to its customers, enhancing its competitiveness and addressing the evolving needs of the nutraceutical industry.
The emergence of biodegradable corn starch plastic granules is a promising technological advancement providing a sustainable and renewable alternative to non-degradable plastics. These innovative granules derived from this category offer similar properties to traditional plastics while being environmentally degradable. Furthermore, new technology has been introduced for the extraction of this category which has revolutionized the production process. By leveraging advanced enzymatic methods, this cutting-edge technology enhances efficiency and sustainability which in turn results in increased productivity and reduced energy consumption. As a result, this category production landscape is set to undergo a transformative change propelled by this technological breakthrough.
Order your copy of the Corn Starch Procurement Intelligence Report, 2023 - 2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis
The price and cost of this category are influenced by supply, demand, production costs, competition, and customer preferences. The primary cost driver is raw materials with corn and enzymes contributing to over 70% of overall costs. Other significant cost components include corn handling, storage, steeping, germ separation, fiber separation, gluten separation, and starch washing. Approximately 55% of the total corn mass is converted into corn starch, emphasizing the importance of raw material expenses and production steps in determining the cost structure.
While sourcing for this category, it is crucial to adhere to the best practices like ensuring quality, sustainability, and compliance with food rules and regulations. Key practices include thorough supplier verification, traceability, compliance with food regulations, sustainability considerations, quality control, and fostering continuous improvement. Businesses should verify supplier certifications, such as ISO 22000 or HACCP, and prioritize transparency and traceability. Compliance with reputable regulatory bodies like the FDA or EFSA is essential. Sustainability should be promoted through responsible sourcing and environmental practices. Open communication with suppliers facilitates collaboration and continuous enhancement of sourcing practices. These practices considering food rules and regulations ensure high-quality, safe, and sustainability for this category.
Corn Starch Procurement Intelligence Report scope
• Corn Starch Category Growth Rate: CAGR of 6.60% from 2023 to 2030
• Pricing Growth Outlook: 2 - 4% (Annually)
• Pricing Models: Cost-based or Market-based Pricing, Dynamic Pricing, and Contract Pricing.
• Supplier Selection Scope: Cost and pricing, Past engagements, Productivity, and Geographical presence
• Supplier selection criteria: Quality Assurance, Supply Capacity and Reliability, Traceability and Transparency, Cost Competitiveness, and Financial Stability.
• Report Coverage: Revenue forecast, supplier ranking, supplier matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model
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Key companies
• Roquette Frères S.A
• Archer Daniels Midland Company (ADM)
• Cargill Inc.
• Hodgson Mill
• Associated British Foods plc
• Beteiligungs AG
• Tate & Lyle PLC
• Ingredion Incorporated
• ACH Food Companies
• Global Bio-Chem Technology Group
Brief about Pipeline by Grand View Research:
A smart and effective supply chain is essential for growth in any organization.
Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.
Our services include (not limited to):
• Market Intelligence involving – market size and forecast, growth factors, and driving trends
• Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships
• Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
• Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions
