Corn fiber is the non-starch component of corn kernels that is extracted as a by-product during the wet-milling process of corn. It has various functional properties such as high fiber content, natural antioxidant properties, and ability to absorb water. These unique characteristics make corn fiber suitable for use in various food and beverage products to improve their nutritional profile, texture and stability. It is gaining popularity as a low-calorie bulking agent and fat replacer in foods.
The corn fiber market is estimated to be valued at USD 973.7 Mn in 2024 and is expected to reach USD 1,495.6 Mn by 2031. It is expected to grow at a compound annual growth rate (CAGR) of 6.3% from 2024 to 2031.
Key Takeaways
Key players operating in the corn fiber market are Tate & Lyle, Henan Lack Industry Co., Ltd., Guangdong VTR Bio-Tech Co., Ltd. Among others.
The rising awareness about health benefits of dietary fibers presents significant growth opportunities for players in the Corn Fiber Market. With customers becoming more health-conscious, demand for corn fiber is expected to rise in food and beverage applications.
North America and Europe currently dominate the global corn fiber market. However, Asia Pacific is expected to witness fastest growth owing to rising awareness and increasing disposable income in developing countries such as China and India.
Market Drivers
The global corn fiber market is primarily driven by increasing demand from food and beverages industry. Corn fiber is widely used to enhance texture, promote bulkiness and aid water retention in various food products such as bakery, meat analogs and dietary supplements. It helps improve palatability and shelf-life of foods. Growing health consciousness among consumers has increased demand for nutritious and low-calorie food options, spurring sales of corn fiber.
PEST Analysis
Political: Regulations regarding agriculture and crop production affect the corn fiber market. New policies can impact corn cultivation areas.
Economic: Changes in GDP, income levels, exchange rates influence demand for corn fiber products. A slowdown in economy can negatively impact market growth.
Social: Consumer preferences, health awareness, trends shape demand. Rising focus on nutrition and wellness propel use of corn fiber in various foods and supplements.
Technological: Advances in farming techniques help increase crop yields. Development of novel extraction processes and equipment aid efficient production of corn fiber. New product applications in different sectors utilizing corn fiber also drive the market.
Geographical regions with high market concentration
North America accounts for the largest share of the global corn fiber market in terms of value. Key factors contributing to its leading position are extensive cultivation of corn across major countries like the United States and Canada as well as large presence of established corn fiber manufacturers. The United States is the primary producer as well as consumer of corn globally.
Fastest growing region
Asia Pacific is expected to be the fastest growing regional market over the forecast period supported by rising health consciousness and increasing utilization of plant-based fibers in various end-use industries. Various international players are exploring opportunities in developing nations of Asia to boost sales. Growth in food processing, cosmetics and personal care industries also favors market expansion. Countries like India and China with huge population offer lucrative prospects.
Get This Report in Japanese Language: トウモロコシ繊維市場
Get This Report in Korean Language: 옥수수 섬유 시장
About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc.
(https://www.linkedin.com/in/ravina-pandya-1a3984191)
