Growing Popularity Of Zea Mays Starch Driving The Global Market:
The increasing consumption of convenience and ready to eat foods has been increasing nowadays. In addition, increasing awareness among consumers with respect to health benefits of consuming zea mays starch is expected to accelerate the growth of market during forecast period. Further, expansion of the application base and technological advancements in the field of biotechnology are some other major factors projected to boost growth of the zea mays starch market. Rising replacement trend of petroleum with ethanol is projected to be the major driving factor for this market.
Zea Mays is scientific name for corn, maize or sweet corn. Cornstarch is completely gluten-free which is rising its importance in food and beverage industry. In recent years, zea mays starch has become an important component of the culinary and household industry due to its adhesive property. The zea mays starch market demand will grow at CAGR of 4%-6% during the forecast period of 2019-2025.
Sweetener proves to be leading segment in the zea mays starch market
The demand of zea mays starch as sweetener has increased owing to increase in awareness related to artificial sweeteners among consumers. Also, sweeteners are cost-efficient making it more popular among the consumers. It holds more than 50% of zea mays starch market share followed by native starch.
Zea Mays Starch Market: Segmentation
Zea mays starch market is segmented into different parts based on the type of product, end-use and distribution channels. Sweetener is dominating the zea mays starch market. On the basis of end-use, zea mays starch is widely used in food and beverage industry due to its health benefits.
Based on type of product, zea mays starch market is segmented into:
- Native Starch
- Modified Starch
Based on end-use, zea mays starch market is segmented into:
- Food and Beverage
- Animal Feed
- Paper and Board
Based on distribution channel, zea mays starch market is segmented into:
- Online channels
- Specialty Stores
Asian Region Experiences Maximum Growth Rate In Zea Mays Starch Market
Rising population and increase in disposable income among consumers in emerging economies such as China, India and Brazil is expected to expand the zea mays starch market in coming years. China and India is expecting a prominent growth between 7- 8% CAGR. Manufactures are investing significantly in research and development is driving factor of the market. Also, rising demand of bakery and snacks products has resulted in strong growth of zea mays starch market.
North America is most lucrative region for zea mays starch market. North America accounts for largest revenue contribution to the global market. This is attributed to presence of leading zea mays starch manufacturers in this region. Being the center of advancement in technologies, North America is influencing price trends of the industry and has triggered demand for zea mays starch market.
Europe produces variety of products from physical to chemical and liquid to solid sweeteners. The products are used as ingredients and functional supplements in food and beverages. It is the major contributor in driving zea mays starch market. Middle East and Africa is experiencing exponential growth due to rising consumer demands.
Positive Impact Of Corona On Zea Mays Starch Market
Food and beverage industry is witnessing positive growth rates throughout the globe during the pandemic. Zea mays starch is one of the key ingredients in the food and beverage industry. Due to health consciousness, consumers are looking for healthy and organic food products which is fueling the growth of zea mays starch market. North America and Europe are prominent positive regions during this COVID-19 situation. The Asia Pacific region are becoming highly health conscious day by day and hence zea mays starch market is experiencing positive growth .
Strategies By Key Players To Expand In Zea Mays Starch Market
Key players in the global zea mays starch market are Cargill, Ingredion Incorporated, Tate & Lyle, Avebe, T Kingsford & son, Global Bio-Chem Technology, Ajinomoto Company and among others. These key players are exploring the industry in new regions by adopting acquisition and mergers. For Instance, T Kingsford & son merged with its main competitor, Agro Ltd. After the merger companies could produce much more high-quality products. Also, it helps to gain higher share in zea mays starch market. Companies have also invested in research and development activities in order to offer new product variants for growing zea mays starch market.
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