Europe Waxy Maize Starch Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Modified Starch and Native Starch), Category (Organic and Conventional), and Application (Food and Beverages, Pharmaceuticals and Nutraceuticals, and Other

Europe Waxy Maize Starch Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Modified Starch and Native Starch), Category (Organic and Conventional), and Application (Food and Beverages, Pharmaceuticals and Nutraceuticals, and Others)

The waxy maize starch market in Europe is expected to grow from US$ 501.40 million in 2022 to US$ 722.16 million by 2028. It is estimated to grow at a CAGR of 6.3% from 2022 to 2028.

Rising Demand for Waxy Maize Starch in Food Industry

The food industry is growing at a tremendous pace due to rising population, changing lifestyles of people, increasing per capita income, and surging demand for convenience food. Waxy maize starch has more than 99% amylopectin content. It is used as a bulking agent, thickener, and texturizer in many food products, such as soups, sauces, fillings, and custards. Moreover, it has a neutral taste and excellent binding capacities, which provide desired texture to the food products. Furthermore, waxy maize starch has high thermal and sheer stability, which makes it an ideal ingredient in canned and extruded food products. It has a high viscosity that imparts excellent texture to gravies, puddings, and fruit fillings. The manufacturers are also developing products that meet the changing consumer requirements. For instance, the demand for clean-label, gluten-free, non-GMO (genetically modified organisms), and plant-based products is increasing as consumers become health conscious. Thus, the rising demand for waxy maize starch for manufacturing various food products is driving the overall market growth. In addition, hectic work schedules and busy lifestyles of people, the rising number of dual-income families and single-person households and increasing population of working women drive the consumption of convenience food. Waxy maize starch is widely used in convenience food products such as baked goods, soups, snacks, sauces, and dressings. As a result, the demand for waxy maize starch is increasing.

Market Overview

The Europe waxy maize starch market is segmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The starch industry is one of the key revenue-generating industries in Europe. According to Starch Europe, the European Union (EU) produced 12.12 million metric tons of starch in 2020, of which 10.03 million metric tons were consumed within the EU. Approximately 71 facilities in the EU are engaged in the production of starch and starch derivatives. The food & beverages, pharmaceutical & nutraceuticals, and pulp & paper industries are the major consumers of waxy maize starch in Europe. Waxy maize starch is used as a thickening/gelling agent and stabilizer in a wide range of food and beverages, including bakery and confectionery products, soups, sauces, frozen desserts, dairy creamers, and ready-to-drink beverages. The rising demand for convenience food owing to the hectic lifestyle and high per-capita income of consumers is driving the need for waxy maize starch in the food & beverages industry across the region. Manufacturers are adopting various development strategies to ensure a long-term sustainable crop supply for food starch. For instance, Cargill has committed to sourcing waxy corn 100% sustainably from European farmers. In support of this initiative, Cargill has developed the Waxy Corn Sustainable Sourcing program, leveraging the strong partnerships between Cargill, farmers, and co-op suppliers to address key sustainability challenges in the waxy corn growing countries in the Europe.

Europe Waxy Maize Starch Market Revenue and Forecast to 2028 (US$ Million)

Europe Waxy Maize Starch Market Segmentation

The Europe waxy maize starch market is segmented into type, category, application, and country.

Based on type, the market is segmented into native starch and modified starch. The native starch segment registered a larger market share in 2022.

Based on category type, the Europe waxy maize starch market is segmented into organic and conventional. The conventional segment registered a larger market share in 2022.

Based on application, the Europe waxy maize starch market is segmented into food and beverages, pharmaceuticals and nutraceuticals, and others. The food and beverages segment registered the largest market share in 2022.

Based on country, the market is segmented into Germany, France, Italy, the UK, Russia, and The Rest of Europe. The Rest of Europe dominated the market share in 2022.

AGRANA Beteiligungs AG; Cargill, Incorporated; Roquette Frères; Sinofi Ingredients; Tate & Lyle PLC; and Tokai Denpun Co., Ltd. are the leading companies operating in waxy maize starch market in the region.

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