Maize also known as corn may be a cereal grain. Maize has become a staple food in many parts of the globe, with total production surpassing that of wheat or rice. However, not all of this maize is consumed directly by humans. a number of the maize production is used for corn ethanol, animal feed and other maize products, like corn starch and corn syrup. The six major varieties of corn are dent corn, flint maize, pod corn, popcorn, soft corn, and sweet corn. Maize is very important to India as 15 million Indian farmers are engaged in Maize cultivation. Having realized the potential of Maize in generating better income to farmers while providing gainful employment, Maize qualifies as a possible crop for doubling farmer’s income. There’s an incredible potential of growth of the Maize value chain within the country. The consumption of Maize has increased at a CAGR of 11% in last five years.
This is mainly because the area under kharif maize (2016-17) saw a jump to 84.26 lakh ha. There is a bearish trend in the global maize market due to over production in key maize growing countries led by US. Given the global scenario which hints a surplus production this year and assuming the normal kharif maize area, the Agricultural Market Intelligence Centre projected the prices of maize at kharif harvest period of 2017-18. India corn starch market is estimated to be valued at 1.37 Billion in 2018 and is estimated to grow at a CAGR of 3.9% during the forecast period 2019–2024.
Corn Starch production in India is extremely fragmented since there are a large type of producers or manufacturers with different production capacities. The most raw material for a similar is maize but to a small extent, another materials and used and that they include rice, potato and tapioca. The key products or derivatives which are hence obtained include modified starches, syrups, sweeteners, corn germ and others. The most demand for starches arises from textile, paper and construction industries besides the pharmaceutical industry. The utilization of those derivatives within the food industry is growing but not at a really fast pace, however, there's tons of potential for the corn starch processing industry that continues to be untapped. Thus, due to demand it's best to invest in this project.
Few Indian major players are as under
Aksharchem (India) Ltd.
Cargill India Pvt. Ltd.
Sahyadri Starch & Inds. Pvt. Ltd.
Roquette India Pvt. Ltd.
Wockhardt Health Care Ltd.
Universal Starch-Chem Allied Ltd
Tirupati Starch & Chemicals Ltd.
Devi Corn Products Ltd.
Gayatri Bioorganics Ltd.
