The global Corn Steep Powder market is expected to witness a market value of US$ 975.5 Million in 2023 and is expected to accumulate a market value of US$ 1,544.2 Million by registering a CAGR of 4.7% in the forecast period 2023 to 2033. The Corn Steep Powder market registered a CAGR of 2.9% in the historical period 2018 to 2022. Factors such as the increasing demand for animal feed, as well as the increasing use of corn steep powder as a bio-based ingredient in various applications, are expected to boost the market growth over the analysis period.
As per Future Market Insights - market research and competitive intelligence provider, the global market value for Corn Steep Powder has been flourished. Corn steep powder is widely used as an ingredient in animal feed, as it is a rich source of amino acids, vitamins, and minerals. With the increasing demand for high-quality animal protein products, such as meat, eggs, and milk, the demand for corn steep powder is expected to rise.
Moreover, the corn steep powder is used as a flavoring and texturizing agent in various food and beverage products, such as soups, sauces, snacks, and beverages. With the growing demand for processed food and beverage products, the demand for corn steep powder is expected to increase.
The corn steep powder is a by-product of the corn wet milling process, which makes it a sustainable and eco-friendly alternative to synthetic ingredients. With the increasing focus on sustainability and environmental protection, the demand for bio-based products like corn steep powder is expected to grow.
Furthermore, the growing demand for organic and non-GMO products among consumers is one of the major factors that is anticipated to stimulate the market growth in the forthcoming years. In addition, the corn steep liquor, which is a by-product of corn steep powder, is used as a liquid fertilizer in agriculture. With the growing demand for sustainable and eco-friendly agriculture practices, the demand for corn steep liquor is expected to increase, which in turn will boost the demand for corn steep powder.
On the regional end, the Corn Steep Powder market in North America is expected to account for the maximum share during the analysis period. The region is one of the major producers and consumers of corn steep powder, and the market is driven by factors such as the growing demand for animal feed and the increasing use of corn steep powder as a bio-based ingredient in various applications.
On the other hand, the Corn Steep Powder Market in Europe is witnessing significant growth in recent years. The regional market is supported by the presence of several major players, such as Tate & Lyle PLC, Roquette Frères, and Cargill, Incorporated, among others. These companies are investing in research and development activities to develop new and innovative products, which is expected to drive the growth of the market.
Recent developments in the technology, mergers and acquisitions, and partnerships within the companies involved in the designing of Corn Steep Powder are expected to create lucrative opportunities for the market growth over the analysis period.
For instance, in June 2021, Tate & Lyle PLC announced that it had launched a new product line of Non-GMO Project Verified corn-based ingredients, including corn steep powder, to meet the growing demand for clean-label and non-GMO products.
In May 2021, Archer Daniels Midland Company announced that it had expanded its production capacity for corn steep powder and other corn-based products at its facility in Turkey.
In October 2020, Cargill, Incorporated announced that it had opened a new corn milling facility in India, which would produce corn starch, corn syrup, and corn steep powder for the food, beverage, and animal feed industries.
Data Points
Key Statistics
Expected Market Value in 2023
US$ 975.5 Million
Projected Market Value in 2033
US$ 1,544.2 Million
Growth Rate (2023 to 2033)
4.7% CAGR
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Corn Steep Powder Market Overview (2023 to 2033)
Corn steep powder is gaining much attention in market as a replacement for several organic fertilizers, like chicken litter, fish emulsion, feather meal, and soybean meal.
It is also being used in baking and animal feed industries. Research indicates a high growth of the market over the forecast period as it is readily available to use and does not depend on other microbial activities for digestion and release, unlike other products in the category.
High Nitrogen Source Factor is Driving Demand of Corn Steep Powder
Corn steep powder has been widely recognized as a rich nitrogen source in several culture medium and provides optimum condition for cell culture in the production of yeast, antibiotics, and vitamins, such as vitamin B12.
Being rich in nitrogen source, sales of corn steep powder is rising, as it can also be used in the fermentation process, as a replacement of organic nitrogen sources, like yeast powder and soybean meal hydrolysate.
Consumers prefer to use the product more, as it is suitable for fermentation of different amino acids, which, in turn, helps to maintain the stability of the fermenting products, making the process much cheaper and efficient as well.
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Corn Steep Powder Market in US and Canada
Highly accessible form of corn steep powder is driving the market in the US and Canada over the recent years.
The dried form of the product is not only available as a powder format in the market over the region, but successful implementation of new technologies and advanced researches have enabled manufacturers now to make the product available in different formats, such as capsules or pellets for ease of use for the consumers.
Europe Corn Steep Powder Market
Corn steep powder in the European market is being widely used as a feed ingredient for aquafeed and livestock diets. It is mostly being used in beef cattle diets as the source of vitamin and essential minerals with highly refined feed grade.
The protein content of such products is also being taken into consideration, as most products contain approximately 40 percent of protein content in them, which is more than enough for animal feed products.
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Key Suppliers/Providers/Manufacturers of Corn Steep Powder
Some of the key manufacturers in corn steep powder market includes
Roquette Frères
Cargill Inc.
Global Bio-chem Technology Group
Ingredion Incorporated
Parchem Fine & Specialty Chemicals,
Tereos FKS Indonesia
Chelation Grou
Shandong Shanshi Chemical Co. Ltd
Mycsa AG and many others.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Key Segments
By Type:
Organic (Vegan powder)
Conventional (Whole grain powder)
By Flavor:
Unflavored
Flavored
Kettle Corn
White Cheddar
Butter
Chocolate
Vanilla
Mint
Caramel
By Form:
Powders
Capsules
Spray
Strips
Pellets
By Nutritional Content:
Gluten-Free
Dairy-Free
Wheat-Free
Cholesterol-Free
Sodium-Free
Sugar-Free
Trans Fat-Free
Non-GMO
Low Calorie
No Artificial Flavors
By Industry Application:
Animal Feed Industry
Baking Industry
Bread Mixes
Cake Mixes
Cookie Mixes
Muffin Mixes
No-Bake Mixes
Pancake Mixes
Personal Care industry
Oral Care
Body Powder
Bath & Shower
Deodorants & Antiperspirants
Feminine Care
Men's Essentials
Pharmaceutical industry
Digestive Health
Diabetes Care
Fiber Supplements
Cold Cough and Flu
Foot Care
Pain Relievers
Protein & Fitness
Smoking Cessation
Superfoods
Vitamins & Supplements
Weight Management
Others
By Region:
North America
U.S. and Canada
Latin America
Mexico, Brazil, Peru, Chile, Argentina, and others
Western Europe
Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg
Eastern Europe
Poland and Russia
Asia Pacific
China, India, Japan, South Korea, Malaysia, Indonesia, Australia, and New Zealand
