VIETNAM CORN STARCH MARKET

Vietnam corn starch market is projected to see a robust CAGR fueled by the rising demand from the food processing sector, rising feed demand and its versatility in different industries.

Major Drivers and Emerging Trends

The Vietnam corn starch market size growth is largely attributed to its widespread use as a stabilizing or thickening agent in the food and beverage sector. The market is further supported by the processed food sector expansion and the rising consumer demand for natural ingredients. There is also the growing need for RTE food in the country fueled by the surge in ecommerce sales and a shift towards healthier consumer choices. Ongoing innovations in packaging technology further drive this demand.

The increasing interest in frozen food in Vietnam is also a result of rapid urbanization and the rise in female workforce participation. In Vietnam 37.4 million individuals reside in urban areas with 68.5% of women across the country participating in the labor force. Consequently they have less time to prepare meals which drives the need for fast and convenient food solutions. The shift towards digital retailing and the growth of ecommerce are further enabling greater consumer access to frozen food thus further stimulating the demand for corn starch in the country.

Corn starch and other corn derivatives are also commonly incorporated as carbohydrate sources in poultry and livestock feed formulations. Corn is the primary grain used in animal feed which significantly exceeds wheat and barley in consumption. With a 30 percent increase in meat production over the last decade Vietnam has increasingly depended on corn imports to supply its feed ingredient needs. Vietnam is the leading corn importer in Southeast Asia. While pork remains the preferred meat but chicken and beef consumption has also risen.

In addition to its food industry and animal feed applications corn starch is utilized in sectors like textiles which boosts its overall demand. The textile industry in Vietnam has seen significant growth since it becomes a major contributor the economic development. In recent decades Vietnam has emerged from being a minor player to a dominant force in the global textile market. Currently Vietnam ranks among the leading textile exporters in the world with major markets like the European Union and the United States among others. The sector offers jobs to millions and is a substantial contributor to the GDP.

Sustainable practices have been a main focus to address the growing environmental issues. This shift towards sustainability involves using organic materials like corn starch in textile manufacturing. Cotton yarns generally undergo warp sizing by using corn starch.

However fluctuation in supply and demand present ongoing challenges for the Vietnam corn starch market. Corn starch is a flexible ingredient utilized across multiple industries like textiles and food. Securing a reliable premium corn starch supply amid challenges like climate change remains a complex issue. Additionally shifts in dietary requirements and consumer preferences necessitate flexibility to adapt to changing market conditions.

Based on type the market is classified into native and modified starch. Native starch is derived through the corn wet-milling process. It is a natural white powder used in bakeries and processed meat or fish products. Its adhesive properties also make it ideal for use in glue for corrugated cardboard production and for imparting strength to fabrics. It is also applied in printing on paper or textile products to keep the paint smooth and prevent it from spreading across the material. Modified starch has been specially treated to improve its effectiveness in retaining food’s texture and structural integrity. It is used in food products that require microwaving or cooking at high temperatures.

Based on its applications corn starch finds widespread use in food and beverage products along with textiles. Corn starch can be a thickening agent in food particularly when added to soups and gravies. Because corn starch has higher density in comparison to flour it thickens liquids more effectively in smaller quantities. When added to shredded cheese it coats the cheese and absorbs moisture which helps prevent spoilage.

Top Market Players

The market is shaped by some major players whose contributions are essential to its growth. Leading companies including Vina Starch, Saigon Industrial, and Hoang Lam Trading are among the prominent participants in the market. With their strong presence and commitment to excellence, these key players are crucial in shaping the market future.

Segments covered in the Report:

The Vietnam Corn Starch Market has been segmented on the basis of Type and Application. Based on Type, the market is segmented into Native Starch and Modified Starch. Based on Application, the market is segmented into Food and Beverage, Animal Feed, Pharmaceuticals, Textile, Paper and Corrugated and Other Applications.

Market Segmentation

Vietnam Corn Starch Market by Type

• • Native Starch
  • Modified Starch

Vietnam Corn Starch Market by Application

• • Food and Beverage
  • Animal Feed
  • Pharmaceuticals
  • Textile
  • Paper and Corrugated
  • Other Applications

Vietnam Corn Starch Market Leading players

• • Vina Starch
  • Saigon Industrial
  • Hoang Lam Trading