Corn Fiber Market – Global Industry Analysis and Forecast (2023-2029) by Type, Application and Region

Corn Fiber Market size was valued at US$ 892.69 Mn. in 2022, and the total revenue is expected to grow at 13% from 2023 to 2029, reaching nearly US$ 2100.1 Mn.
Corn Fiber Market Overview:
Corn Fiber Market was valued at USD 892.69 million in 2022, and is predicted to grow at a CAGR of 13% to USD 2100.1 million by 2027. The Corn fiber Market is studied by segments like Application (Health Supplements, Animal Feed, medicine, others), Industry Vertical (textile, pharmaceutical, healthcare, food & beverages, cosmetics, and others) and Region (North America, Europe, Asia-Pacific, and Rest of the World). The report consists of the Trend, Forecast, Competitive Analysis, and Growth Opportunities of the market

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Corn fibre is a carbohydrate and is produced through enzymatic hydrolysis of corn starch. It is used in various beverages, prepared foods, baked goods, fruit drinks and dairy products. These fibres are generally incorporated to enhance their fiber content without sacrificing texture or taste components. Also, corn fibres are increasingly used in textile applications as they are eco-friendly in nature, provide superior comfort, are stain and heat resistant. It is also used in animal nutrition and cosmetics.

Corn fibre, also known as ingot fibre, is a novel discovery in the environmentally friendly textile sector that is a naturally extracted fibre with properties such as strength, comfort, and moisture control.

Because of their natural appearance and positive features like ease of wear, mild comfort, excellent drape, and low odour retention make them an ideal replacement for synthetic materials, increasing their demand in the global textile market. Aside from that, the growing demand for green textiles and manufacturers' preference for bio-based products originating from a naturally renewable resource have increased the use of corn fibres in textile applications.

2022 is considered as a base year to forecast the market from 2023 to 2029. 2022's market size is estimated on real numbers and outputs of the key players and major players across the globe. The past five years' trends are considered while forecasting the market through 2029.
2020 is a year of exception and analysis, especially with the impact of lockdown by region.
Corn Fiber Market Dynamics:
Consumer attitudes on nutrition are changing, and there is an increase in demand for high-quality ingredients, which are expected to favour market growth. A shift toward healthier eating habits as well as increased disposable income of consumers, combined with the product's ease of availability, are projected to strengthen the Corn fiber market in the forecast period.

Corn fibre also has numerous health benefits, like the maintenance of intestinal health, bone mineralization, and calcium absorption in the body.
It has been related to a lower risk of heart disease and some malignancies.

As a result, pharmaceutical companies are increasingly using soluble corn fibre, reviving the corn fibre business. Food processing firms also employ soluble corn fibre. Corn fibre products are chosen for animal nutrition because they are high in carbs and proteins. The demand for the corn fiber market has been rising over the past few years.
Corn Fiber market trends are as follows:
Increase in health benefits

Corn fibre provides numerous health benefits since it helps the body maintain its fibre level. The increased consumer awareness of the health advantages of fibres drives the need and demand for corn fibre among consumers of varying appropriateness.

Fiber aids in the formation of calcium and the preservation of calcium in bone during the adolescent and postmenopausal stages. It has prebiotic qualities that help the intestines work better.

Corn fibre is frequently utilised in the production of food supplements due to its high fibre content, which aids digestion, decreases blood glucose and insulin response improves metabolism, and offers vital minerals. It is gaining popularity in the fitness industry due to the high protein concentration in maize fibre, which aids in muscle growth and recovery.

The surge in usage in animal feed and textile industry

The Corn Fiber market is said to have its origins in the animal feed and textile industries.

The leading manufacturers are eager to advertise their core product by offering utilities to consumers. To that end, market participants are diversifying their company activities and broadening the scope of applicability.

Corn fibres used as nutritional supplements in livestock feed such as poultry, fishery, ruminants, and pigs strengthen the immune system against air and water-borne illnesses. The increased understanding of animal food and animal well-being and nutrition fuels the use of maize fibre in this business. Corn fibres are quickly being used in the textile industry. The primary driving forces are the super comfort, heat resistance, stain resistance, and eco-friendliness that make the fibres comfortable.

Corn Fiber market: Effect of COVID-19

Corn prices plummeted in the early days of the COVID-19 pandemic, shocking dealers, analysts, and consumers alike. Corn prices often carried a risk premium into the United States as the summer growing season approached, but prices fell swiftly due to enormous demand destruction and speculative shorts.

According to the USDA, over 65 % of the corn produced globally is earmarked for animal feed. On the other hand, corn feed demand declined substantially as many meatpacking operations in the United States were forced to close owing to the outbreak of COVID-19.
Corn Fiber Market Segment Analysis:
On the basis of application, the Corn fiber market is segmented into Health supplements, animal feed, medicines and others.

Corn fibres used as nutritional supplements in livestock feed such as poultry, fishery, ruminants, and pigs strengthen the immune system against air and water-borne illnesses. The increased understanding of animal food and animal well-being and nutrition fuels the use of maize fibre in this business.

Corn fibre also has numerous health benefits, like the maintenance of intestinal health, bone mineralization, and calcium absorption in the body.
It has been related to a lower risk of heart disease and some malignancies. Hence, various pharmaceutical companies utilise corn fiber for medicinal purposes. As awareness regarding these increases, the medicinal segment, of the corn fiber market is expected to substantially grow over the forecast period.

On the basis of industry Vertical, the Corn Fiber market is classified into textile, pharmaceutical, healthcare, food & beverages, cosmetics, and others. Corn fibre also has numerous health benefits, like the maintenance of intestinal health, bone mineralization, and calcium absorption in the body. It has been related to a lower risk of heart disease and some malignancies. Hence, the pharmaceutical application is predicted to play a significant part in overall market sales in terms of demand. Product demand in this application category is likely to rise as more prescription pharmaceuticals, and nutritional supplements become available.

Textiles are predicted to be the second-largest application market, owing to benefits such as excellent durability and comfort. Corn fibre filaments frequently have a fluid drape and a delicate sheen, offering them a more environmentally friendly alternative to nylon and polyester.

The demand for high-nutritional goods, as well as the consumption of meals and meal replacement beverages, are projected to drive growth in this market. Corn fibre products provide a high concentration of proteins and carbs, making them appropriate for animal feed. These are frequently used to supplement ruminant diets.
Corn Fiber Market Regional Insights:
North America led the market in terms of sales, accounting for about one-third of the total sales of the global market. The region's well-established pharmaceutical and textile sectors have significantly expanded market. Furthermore, the growing trend of performance and specialty clothes is expected to increase demand.

The country is home to some of the world's largest pharmaceutical corporations. The United States' rising population is fueling this expansion. More than 15% of the US population is over 65, and this figure is expected to grow by 2023.

Aside from demographic expansion and population aging, gains in purchasing power and access to inexpensive healthcare and pharmaceuticals for poor and middle-class households worldwide are also important, propelling US growth.

Europe is hampered by a fragmented sector that has been sluggish in embracing new production techniques, causing per capita maize fiber prices in Europe to rise compared to North America. Furthermore, rising dairy product demand, the incidence of livestock-related diseases, and increased consumer awareness of the quality of final animal products are all expected to boost market demand.

The Asia Pacific accounted for a sizable portion of the market. The presence of critical pharmaceutical manufacturers in the region, together with the expanding textiles sector, is expected to generate growth possibilities for the market over the forecast period.

Furthermore, the market expansion is being propelled by an increased taste for innovative and more organic-based cosmetic goods, particularly among female consumers. China's demand is predicted to grow reasonably due to the country's large-scale corn production and well-established application sectors.

The newest coronavirus epidemic has crippled the country's industrial industry, which has detrimental influence on the economy. However, with the coronavirus's symptoms fading, demand is likely to rebound in the next few years.

The objective of the report is to present a comprehensive analysis of the Corn Fiber market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complex data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Corn Fiber market dynamics, and structure by analyzing the market segments and projecting the Corn Fiber market size. Explicit representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Corn Fiber market make the report investor’s guide.
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Corn Fiber Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 892.69 Mn.


Forecast Period 2023 to 2029 CAGR:
13%
Market Size in 2029:
US $ 2100.1 Mn.


 Segments Covered:
by Application
• Medicines
• Health supplements
• Animal feed
• Others


by Industry vertical
• Textile
• Pharmaceutical
• Healthcare
• Food & beverages
• Cosmetics
• Others


by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)



Corn Fiber Market Key Players:
• Archer Daniels Midland Company (United States)
• Doshi Group (India)
• Cargill Incorporated (United States)
• Roquettes Freres (France)
• Grain Processing Corporation (United States)
• SunOpta (Canada)
• J. Retentate & Söhne GmbH & Co. KG (United States)
• Ingredion Incorporated (United States)
• HL Agro (India)
• Corn products international (United States)
• Monsanto Company and Bayer AG (United States)
• Baolingbao Biology Co. Ltd. (China)
• Tate & Lyle. (United Kingdom)
Frequently Asked Questions:
1. What forecast period is considered for the Corn Fiber market report?
Ans. The forecast period for the Corn Fiber market is 2023-2029.

2. Which key factors are hindering the growth of the Corn Fiber market?
Ans. Fluctuations in global corn production are expected to hamper 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.

3. What is the compound annual growth rate (CAGR) of the Corn Fiber market for the forecast period?
Ans. The CAGR of the Corn Fiber market for the forecast period 2023-2029 is 13 %.

4. What are the key factors driving the growth of the Corn Fiber market?
Ans. Key factors driving the corn fiber market growth include rising demand from the pharmaceutical industry to enhance nutritional content. Moreover, increasing the consumption of corn fibers in food & beverage products are likely to support the demand.

5. What are the key players covered in the Corn Fiber market report?
Ans. The major worldwide critical players in the Corn Fiber market are Archer Daniels Midland Company and Doshi Group.