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(MoneyNewsWire.Net, April 12, 2018 ) North America Corn Starch Market was worth USD 7.73 billion in 2016 and estimated to be growing at a CAGR of 4%, to reach USD 9.4 billion by 2021. Cellulose and starch are the most abundant carbohydrates found in nature. Starch can be obtained from various naturally occurring products like- corn, cassava, wheat and potato. Corn is currently the most commonly used accounting for around 80% of the total global starch production.
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It is used for many culinary, household, and industrial purposes. In the kitchen, corn starch is regularly used as a thickening agent for sauces, gravies, glazes and desserts. It is also used in making corn syrup and bio plastics.
The increasing consumption of ready-to-mix food items and instant food mixes has resulted in an increase in the demand for corn starch over the years. With the advancement of technology, various genetically modified vegetables are now being grown. Corn is one such vegetable, due to which the production of corn has seen a rise over the past few years. Growing animal feed market is anticipated to have positive impact on global corn starch market in the future. This trend is expected to drive the U.S. and eventually North America corn starch market. Tapioca and Cassava are some of the corn substitutes which are being used nowadays, restricting the growth of the corn starch market in the years to come.
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North American market for Corn Starch is broadly categorized by product- Native starch, Modified starch and Sweeteners. Based on Application, the market is further segmented into Food and Beverages, Animal feed, Pharmaceuticals and chemicals, Textile, Paper and Corrugates and Others. By product, sweeteners segment accounts for about 50% of the total revenue share and is likely to lead over the forecast period. The modified starch segment is expected to grow at a significant rate in the next few years. By application, food and beverages is the major segment of this market. On the basis of geography, the market is analysed under various regions namely U.S , Canada. United States in the largest corn starch producer in the world
Major corn starch market participants include Cargill Incorporated, Associated British Foods plc., Archer Daniels Midland Company, Kent Corporation, Minnesota Corn Processors LLC., Monsanto Company, Cognis Corporation, Cerestar USA Incorporated, and Novo Nordisk A/S.
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