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

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

The waxy maize starch market is expected to grow from US$ 2,000.68 million in 2021 to US$ 3,257.37 million by 2028. It is expected to grow at a CAGR of 7.3% from 2022 to 2028.

A complex carbohydrate generated from maize or corn is waxy maize starch. Waxy maize starch is used in various food and beverages, such as bakery products and confectionery, as a gelling, thickening, and binding agent. It is also utilized in non-food applications, such as pulp and paper, medicines, and animal feed. Its other application is as a binding agent and excipient in manufacturing tablets in the pharmaceutical industry. In animal feed products, waxy maize starch and its derivatives are used as energy sources and stabilizing and thickening agents. It is used as an additive in various end use industries such as food, textiles, and pharmaceuticals. It is added to individual yarns to increase the mechanical strength and resistance to friction; also resist moisture penetration. It also serves as a stabilizer and filler for colored inks when fabrics are overprinted.

Based on type, the waxy maize starch market is segmented into modified starch and native starch. The native starch segment is expected to register the highest CAGR in the forecast period. Native starch is characterized by long carbohydrate chains and expands or swells to varying extents, depending on type and temperature specifications. This type of starch is insoluble in cold water. It is used as a universal thickener for paints and various coatings. In the production of label adhesives, native waxy starch shows an increased adhesive ability when working on high-speed machines. Native starch is widely used as a texturizer, gelling, stabilizing, and thickening agent by food and beverage manufacturers. Cargill Incorporated, Roquette Frères, and Tate and Lyle are among the leading waxy maize native starch manufacturers across the globe.

By geography, the waxy maize starch market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. In 2021, Asia Pacific held the largest market share. It is also expected to register the highest CAGR in the market during the forecast period. The demand for all forms of ready-to-eat or convenience food and beverage products has increased significantly owing to busy lifestyles and the surge in the working population in countries such as India and Japan. As a result, the food processing industry is expected to grow significantly, generating new opportunities for investment and exports. The use of maize starch as a stabilizer, thickening agent, and emulsifier in manufacturing bakery, confectionery, noodles, spaghetti, and other extruded and convenience food products is fueling the demand for waxy maize starch among food and beverage manufacturers. Moreover, China and India are among the world’s largest textile-producing countries, which creates potential demand for raw materials such as waxy maize starch and contributing to the increasing waxy maize starch market share. Native and modified waxy maize starch is extensively produced in Asia Pacific countries, owing to its multi-functional nature. The production of waxy maize starch in the region, specifically in China and India, is bifurcated into organized and unorganized sectors. Moreover, China, India is among the world’s largest textile-producing countries which creates potential demand for raw materials such as waxy maize starch. These factors are anticipated to fuel the waxy maize starch market growth across Asia Pacific region.

Leading players in the waxy maize starch market are Cargill, Incorporated; Tate & Lyle PLC; AGRANA Beteiligungs-AG; Manildra Group; Roquette Frères; Sinofi Ingredients; Tokai Denpun Co., Ltd.; Sanwa Starch Co., Ltd.; New Zealand Starch Limited; and SAMYANG CORPORATION. These manufacturers are focusing on expanding businesses by adopting strategic planning, such as collaboration & partnership, new product development, merger, and acquisition, etc. which further responsible for increasing waxy maize starch market growth in the future.

The overall size of the waxy maize starch market has been derived using primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, national sales managers, and external consultants—including valuation experts, research analysts, and key opinion leaders—specializing in the market.

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Highlights key business priorities in order to assist companies to realign their business strategies.The key findings and recommendations highlight crucial progressive industry trends in the global waxy maize starch market, thereby allowing players to develop effective long-term strategies.Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.