Global Maize Starch Market 2024

Maize Starch Market Size

The global maize starch market amounted to $X in 2021, standing approx. at the previous year. Overall, the total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -1.8% against 2019 indices. Global consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Maize Starch Production

In value terms, maize starch production totaled $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a buoyant increase. The most prominent rate of growth was recorded in 2019 when the production volume increased by 25%. As a result, production reached the peak level of $X. From 2020 to 2021, global production growth failed to regain momentum.

Maize Starch Exports

Exports

In 2021, after nine years of growth, there was decline in shipments abroad of maize (corn) starch, when their volume decreased by -2% to X tons. In general, total exports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +6.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of 25%. Over the period under review, the global exports reached the peak figure at X tons in 2020, and then contracted in the following year.

In value terms, maize starch exports soared to $X in 2021. Overall, total exports indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +71.2% against 2016 indices. The growth pace was the most rapid in 2018 with an increase of 27%. Over the period under review, the global exports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

Exports by Country

In 2021, India (X tons), distantly followed by Turkey (X tons), the United States (X tons), Spain (X tons), China (X tons), Germany (X tons) and France (X tons) were the major exporters of maize (corn) starch, together generating 63% of total exports. The following exporters - Ukraine (X tons), Brazil (X tons), Indonesia (X tons), Egypt (X tons), Serbia (X tons) and the Netherlands (X tons) - together made up 16% of total exports.

Exports from India increased at an average annual rate of +15.9% from 2012 to 2021. At the same time, Egypt (+43.0%), Turkey (+27.2%), Brazil (+21.4%), Serbia (+15.8%), Ukraine (+15.4%), Indonesia (+8.2%), Germany (+4.4%), China (+3.8%), Spain (+2.6%) and the United States (+1.4%) displayed positive paces of growth. Moreover, Egypt emerged as the fastest-growing exporter exported in the world, with a CAGR of +43.0% from 2012-2021. France experienced a relatively flat trend pattern. By contrast, the Netherlands (-3.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of India, Turkey, France, Egypt, Brazil and Ukraine increased by +12, +6.8, +5.1, +2.4, +1.9 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X), Germany ($X) and the United States ($X) appeared to be the countries with the highest levels of exports in 2021, together comprising 37% of global exports. These countries were followed by Turkey, Spain, China, France, Ukraine, the Netherlands, Egypt, Brazil, Indonesia and Serbia, which together accounted for a further 42%.

Among the main exporting countries, Egypt, with a CAGR of +42.3%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average maize starch export price amounted to $X per ton, surging by 19% against the previous year. In general, the export price, however, saw a slight downturn. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+0.5%), while the other global leaders experienced mixed trends in the export price figures.

Maize Starch Imports

Imports

After nine years of growth, purchases abroad of maize (corn) starch decreased by -5.7% to X tons in 2021. Overall, total imports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +6.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when imports increased by 23% against the previous year. Over the period under review, global imports reached the maximum at X tons in 2020, and then contracted in the following year.

In value terms, maize starch imports rose notably to $X in 2021. In general, total imports indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +58.5% against 2015 indices. The pace of growth appeared the most rapid in 2018 with an increase of 25%. Global imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

The countries with the highest levels of maize starch imports in 2021 were Malaysia (X tons), Indonesia (X tons), France (X tons), Germany (X tons), Mexico (X tons), the Philippines (X tons), Nigeria (X tons), Italy (X tons), the UK (X tons), the United States (X tons), Vietnam (X tons) and Chile (X tons), together recording 56% of total import. Canada (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Vietnam (with a CAGR of +28.5%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, France ($X), Malaysia ($X) and Germany ($X) were the countries with the highest levels of imports in 2021, with a combined 22% share of global imports. Indonesia, Mexico, the Philippines, the UK, Nigeria, Canada, Italy, Vietnam, the United States and Chile lagged somewhat behind, together comprising a further 35%.

Vietnam, with a CAGR of +29.5%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average maize starch import price amounted to $X per ton, increasing by 14% against the previous year. Overall, the import price, however, saw a mild decrease. Global import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was the UK ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+4.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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