Corn Fiber Market Size Worth $1.2 Billion By 2027 | CAGR: 6.3%

Corn Fiber Market Growth & Trends

The global corn fiber market size is expected to reach USD 1.2 billion by 2027 registering a CAGR of 6.3%, according to a new report by Grand View Research Inc. Increasing utilization of corn fibers in pharmaceutical products is likely to drive the demand in the coming period. The high nutritional content and medicinal benefits of these fibers are anticipated to boost their demand further. These fibers are produced through enzymatic hydrolysis of corn starch and are rich in carbohydrates.

These are generally used to enhance the fiber contents in food and pharmaceutical products. Rising awareness about following a healthy lifestyle and resultant consumption of nutritional & high-quality food products are expected to boost the demand further. North America accounted for the largest market share in 2019 on account of large-scale production and consumption of corn in the region.

Growing food & beverages and pharmaceutical sectors in U.S. and Canada are also projected to ascend the product demand. Moreover, technological innovations in the textile industry are likely to provide growth opportunities to the market. Leading corn-producing economies are focusing on capacity expansion. Prominent companies in the industry are investing in R&D to introduce corn fibers to various applications in food & beverages.

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Corn Fiber Market Report Highlights

• Pharmaceutical application segment is expected to register the fastest CAGR of 7.5% over the forecast period on account of growing product utilization due to its nutritional and medicinal benefits

• The textile applications accounted for a share of over 29% in 2019. It is estimated to be the second-largest application segment over the forecast period

• In Europe, the food & beverages application segment accounted for a significant share in 2019 owing to wide product usage due to its nutritional benefits

• North America was the largest market in 2019, accounting for a revenue of USD 250.6 million owing to well-established end-use industries including textile and food & beverage

• Companies in the market have undertaken several business strategies to strengthen their market position

• For instance, in 2019, Cargill announced its plans to expand its product offering in the Europe region by 2021. The product portfolio would be inclusive of sweeteners, starches, and texturizers for food & beverages industry

Corn Fiber Market Segmentation

Grand View Research has segmented the global corn fiber market on the basis of application and region:

Corn Fiber Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

• Food & Beverage

• Animal Nutrition

• Pharmaceutical

• Textile

• Other

Corn Fiber Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • France

  • Italy

  • Ukraine

• Asia Pacific

  • China

  • India

  • Indonesia

• Central & South America (CSA)

  • Brazil

• Middle East & Africa (MEA)

  • South Africa

List of Key Players of Corn Fiber Market

• J. Retentate & Söhne GmbH & Co. KG

• Cargill Inc.

• Archer Daniels Midland Company

• Roquettes Freres

• Grain Processing Corporation

• Tate & Lyle PLC