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Report Overview: Corn Fiber MarketThe global corn fiber market size was valued at USD 607.8 million in 2020 and looks set to grow at a compound annual growth rate (CAGR) of 5.2% from 2021 to 2027. Increasing utilization of corn fibers in pharmaceutical products to enhance their nutritional contents is expected to drive the market growth over the forecast period 2021-2027. Moreover, increasing consumption of corn fibers in food & beverage products will support the growth. High nutritional contents of these fibers have augmented their demand in dairy products, prepared foods, and baked goods, and others. Wide usage in textile applications owing to high durability, comfort, and eco-friendly nature and in animal nutrition products owing to high protein contents of these fibers are expected to fuel the market growth. In U.S., the market has witnessed significant growth over the past few years and is estimated to expand further at a CAGR of 5.9% during the forecast period. Well-established textile industry in the country coupled with continuous innovations in pharmaceutical sector is anticipated to boost the product demand over the coming years. Consumer inclination towards a healthy lifestyle coupled with increasing disposable income level, especially in emerging regions, is anticipated to boost the product demand. Moreover, rising popularity of health drinks and meal replacement drinks is likely to support the product demand. However, fluctuations in global corn production are expected to hamper the market growth to some extent. Moreover, the current coronavirus outbreak across the globe has hampered the supply chain, which has negatively affected the corn fiber market. On the other hand, prominent companies are focusing on capacity and geographical expansions, which will boost the market growth.
Application Insights: Corn Fiber MarketPharmaceutical application accounted for the largest revenue share of more than 30% and is projected to expand further at the fastest CAGR of 6.4% over the forecast period. Increasing production of pharmaceutical products and medicines with nutritional benefits is anticipated to accelerate the product demand in this application segment. Textiles is projected to be the second-largest application segment as corn fibers offer benefits, such as high durability and comfort. Moreover, corn fiber filaments have fluid drape and subtle luster and provide an eco-friendly alternative to nylon and polyester. The food & beverage application segment accounted for a significant market share in 2019 and is projected to ascend at a steady CAGR over the forecast period. Growing demand for high-nutritional products and increasing consumption of health and meal replacement drinks are projected to boost the demand for corn fibers in this segment. Corn fiber products are rich in proteins and carbohydrates, thus are favorable for animal nutrition products. These are widely used for the supplement diets of poultry, swine, and ruminants.
Regional Insights: Corn Fiber MarketNorth America lead the global corn fiber market in 2019 with a market share of 34.8% and is anticipated to continue its dominance over the forecast period. Well-established pharmaceutical and textile industries in the region have majorly contributed to the market growth. Moreover, growing trend of performance and specialty clothing is anticipated to support the demand for corn fibers. U.S. accounted for the largest market share in 2019 and is anticipated to expand further at a steady CAGR over the estimated time. The country is the largest producer of corn and has well-established application industries. Asia Pacific accounted for a significant revenue share in 2019 and is expected to accelerate at the highest CAGR over the projected period. Presence of prominent pharmaceutical manufacturers in the region coupled with the growing textiles industry is likely to provide growth opportunities to the market over the forecast period. The market in China is anticipated to grow at a moderate rate owing to large-scale corn production in the country coupled with well-established application industries. The current coronavirus pandemic has hampered the manufacturing sector in the country and has negatively affected the market. However, the demand is expected to heal-up from the second quarter of the year with a decrease in the coronavirus impact.
Key Companies & Market Share Insights: Corn Fiber MarketMajor companies in the market focus on the production of enhanced products with the inclusion of corn fibers. Companies are aiming to achieve optimum business growth by establishing sales operations through the dedicated distribution channel and modern techniques of online sales through a web portal. Some of the prominent players in the corn fiber market include:
Key companies Profiled: Corn Fiber Market Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. Trusted Business Insights has segmented the global corn fiber market report on the basis of application and region:
- J. Retentate & Söhne GmbH & Co. KG
- Cargill Inc.
- Archer Daniels Midland Company
- Roquettes Freres
- Grain Processing Corporation
- Tate & Lyle PLC
Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
- Food & Beverage
- Animal Nutrition
Table of Contents Chapter 1. Methodology and Scope 1.1. Research Methodology 1.2. Research Scope & Assumption 1.3. Information Procurement 1.3.1. Purchased Database(Statista, FactSet, Bloomberg, SDC Platinum) 1.3.2. IFF Internal Database 1.3.3. Secondary Sources & Third-Party Perspectives 1.3.4. Primary Research 1.4. Information Analysis 1.4.1. Data Analysis Models 1.5. Mark | read more...