New York, Feb. 01, 2021 (GLOBE NEWSWIRE) -- The global corn fiber market is expected to reach a market size of USD 1,154.6 Million by 2027 at a relatively steady CAGR of 5.9%, over the forecast period, according to a latest report by Reports and Data. Growing demand for corn fibers can be attributed to growth of the food & beverages industry. Corn fibers are high in fiber content, and function as prebiotics, and is considered ideal and natural for improving digestive health. The insolubility of corn fiber and its ability to maintain taste and texture of various food products enables widespread use in the food & beverages industry. In addition, as the high fiber content in corn fiber remains unaffected by pasteurization, corn fiber is highly preferred among food and beverage producers worldwide.
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Growing demand for corn fiber in the cosmetics industry is another factor driving market growth to a significant extent. The fatty acids present in corn fiber oil comprises a high amount of linoleic acid, along with palmitic, oleic, and stearic acids that have a moisturizing effect on skin. Corn fiber also improves the suppleness of the epidermis and provides nourishment to hair fibers and cutaneous tissues. Moreover, it is used in providing stable formulation to water-based cosmetic products and conditioning and smoothening hairs.
The COVID-19 impact:
The COVID-19 pandemic has severely affected the corn fiber industry, owing to several issues faced by end-use industries, including logistics challenges, unavailability of workforce, and reduced orders. As the situation improves gradually, demand and supply gaps are expected to be further bridged, and regular operations are expected to resume.
Further key findings in the report
- Among the application segments, the pharmaceutical segment accounted for a significant revenue share in 2019. Corn fiber finds widespread usage in pharmaceutical applications and products, owing to benefits such as promoting overall health by increasing calcium absorption, maintaining intestinal health, and helping in bone mineralization. In addition, corn fiber oil possesses very high levels of phytosterols that are helpful in reducing serum LDL (low-density lipoproteins) levels and total cholesterol.
- Corn fiber, due to its high caloric value, is used in dried pet food formulations. Also, corn fiber is non-GMO, i.e., free of any harmful pesticides and artificial preservations, colors, and flavors.
- Among the distribution channel segments, the indirect distribution channel dominated other distribution channel segments in terms of revenue in 2019. Indirect distribution channel provides the benefits of sharing of storage and shipping costs, customers have access to corn fiber produced by different manufacturers at one place, offers third-party promotional benefits, and enables elimination of distribution logistics management.
- The corn fiber market in Asia Pacific accounted for largest revenue share in 2019, due to presence of leading textile, pharmaceutical, and food & beverage producing companies in the region. Also, growing inclination towards more natural and organic cosmetics products, especially by women consumers, is expected to continue to support market growth.
- Key market participants include Ingredion Inc., Grain Processing Corporation, Archer Daniels Midland Company, SunOpta Inc., HL Agro, Roquette Freres, Cargill Inc., Doshi Group, and Tate & Lyle PLC, and Baolingbao Biology Co. Ltd.
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For the purpose of this report, Reports and Data has segmented the global corn fiber market on the basis of application, distribution channel, and region:
- Application Outlook (Revenue, USD Billion; 2017-2027)
- Textile
- Pharmaceutical
- Food & Beverage
- Animal Nutrition
- Cosmetics
- Others
- Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
- Direct
- Indirect
Click on the link to read key highlights of the report and look at projected trends for years to come: https://www.reportsanddata.com/report-detail/corn-fiber-market
- Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- MEA
- Saudi Arabia
- UAE
- Rest of MEA
- Latin America
- Brazil
- Rest of LATAM
- North America
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