Increase in awareness for clean label ingredients, extensive application of corn hydrolysate in making various food items such as bakery products, fragmented food and savoury snacks like pizza base, biscuits, and rapid inclination toward plant-based diet among people are expected to drive the growth of the global corn hydrolysate market. Closure of the cosmetic industry, nutraceutical industry, and food industry and reduction in the workforce during the pandemic had a negative impact on the market.
Portland, OR, Nov. 03, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global corn hydrolysate market generated $225 million in 2021, and is projected to reach $378.3 million by 2031, growing at a CAGR of 5.6% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners, and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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Report coverage & details:
|Market Size in 2021||$225 million|
|Market Size in 2031||$378.3 million|
|No. of Pages in Report||280|
|Segments Covered||Application, Form, End-User, And Region|
|Drivers||Increase in awareness for clean label ingredients|
|Extensive application of corn hydrolysate in making various food items such as bakery products, fragmented food, and savoury snacks|
|Opportunities||Rapid inclination towards plant-based diet among people|
|ideal substitute for monosodium glutamate (MSG) ingredients which are used for the preparation of food products|
- The outbreak of COVID-19 has had a negative impact on the growth of the global corn hydrolysate market due to the presence of lockdowns in various countries around the world.
- Lockdowns resulted in the closure of various industries including cosmetic, nutraceutical, and food, which directly impacted the growth of the corn hydrolysate market.
- In addition, shortage of workforce adverse trade restrictions due to ban on import and export of items during the pandemic further aggravated the impact on the market.
- These restrictions were imposed by the government so as to limit the spread of the virus during the pandemic.
The report offers detailed segmentation of the global corn hydrolysate market based on application, form, end-user, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on the fastest-growing segments and highest revenue generation that is mentioned in the report.
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Based on application, the test enhancer segment held the dominating market share in 2021, holding nearly two-thirds of the global market, and is expected to maintain its leadership status during the forecast period. The nutritional segment, on the other hand, is expected to cite the fastest CAGR of 6.2% during the forecast period.
Based on form, the syrup segment held the largest market share in 2021, holding more than two-thirds of the global market, and is expected to maintain its leadership status during the forecast period. The powder segment, on the other hand, is expected to cite the fastest CAGR of 6.8% during the forecast period.
Based on end-user, the food and beverage industry segment held the lion’s share in 2021, holding more than half of the global market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 6.0% during the forecast period. The report also analyses other segments such as the pharmaceutical and nutraceutical industry.
Based on region, the market across North America held the dominating market share in 2021, holding nearly two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The Asia-Pacific region, on the other hand, is expected to cite the fastest CAGR of 7.0% during the forecast period.
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The key players analyzed in the global corn hydrolysate market report include Archer Daniels Midland Company, Tate & Lyle, Sensient Technologies, Döhler GmbH, Exter b.v., Cargill, Inc., Ingredients Inc., Givaudan, Kerry Group Plc, CRESCENT BIOTECH, Parchem Fine & Specialty Chemicals., ETChem, Roquette Freres, Environmental Working Group, Innova Flavors.
The report analyzes these key players in the global corn hydrolysate market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance, and operating segments by prominent players in the market.
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