Waxy Maize Starch Market Is Expected To Surpass US$ 6.49 Billion At CAGR Of 5.8% By 2032
The waxy maize starch market is esteemed to be worth US$ 3.68 Billion of every 2022 and during the conjecture period, it is expected to develop at a CAGR of 5.8%. In 2032, the market for waxy maize starch is supposed to be worth US$ 6.49 Billion.
Market demand for waxy maize starch market (ワキシートウモロコシ澱粉市場) which has widespread applications in the food industry, is rising as a result of rising consumption of processed and convenience foods. Waxy maize starch is a flexible fixing used in a wide range of eventual outcome areas, including the culinary, material, and drug ventures. It's blended into the yarn to make it more grounded and doubtful to wear out from ordinary use, as well as to keep out dampness. At the point when textures are overprinted with vivid inks, it goes about as a filler and stabilizer.
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Key Trends:
- The demand for clean-label products is increasing and these products are widely adopted in the food and beverage industry. Moreover, waxy maize starch is a natural ingredient and is widely used in clean-label products.
- The food industry is demanding high-performance ingredients that can provide functional benefits such as improved texture, stability, and viscosity.
Recent Developments:
- Several companies have launched new waxy maize starch products with improved functionality, such as high viscosity and excellent stability, to cater to the growing demand from the food and beverage industry.
- Cargill introduced the Waxy corn promise program, and collaborated with various players, farmers, and co-op suppliers to address key sustainability challenges in the growing regions.
- Key manufacturers in the industry are adopting various strategies to sustain their market share in the market.
- For instance, Agrana Beteiligungs-AG, had invested a significant amount of US $ 25 Mn to expand its manufacturing plant across Austria.
Competitive Landscape:
The waxy maize starch market is highly competitive due to the presence of international and domestic suppliers across the globe. The market is highly fragmented and various key players in the market are following the route of consolidation such as mergers and acquisitions & development of new products.
- For instance, Tate & Lyle, a distributor of food and beverage products, had introduced novel gelling starches made from Non-GMO dent corn. Through this initiative, the company enters into the US market with non-GMO starches made from dent corn.
Key Companies Profiled
- Cargill Inc.
- Archer Daniels Midland Co.
- Ingredion Inc.
- Tate & Lyle PLC
- Associated British Foods PLC
Drivers:
- Waxy maize starch is widely used as a thickener, stabilizer, and texturizer in food and beverage products, such as soups, sauces, and processed foods. Moreover, it is used as a binding agent in the manufacturing of tablets and capsules. Growth in these industries is expected to boost the adoption of waxy maize starch.
- Besides this, waxy maize starch has many other applications which drive the adoption of the product in the market. For instance, waxy maize starch is used as a source of energy and nutrition in animal feed, due to its high starch content and low glycemic index.
- Various factors such as the rise in the adoption of convenience meals, low energy costs, and shorter preparation times are the factors contributing to the adoption of waxy maize starch
- Moreover, the rise in demand for gluten-free products makes waxy maize starch an attractive alternative to wheat-based starches for individuals.
- Also, waxy maize starch is a popular ingredient in sports nutrition products and low-carbohydrate foods due to its low glycemic index.
Key Segments
- By Type :
- Native
- Modified
- By Nature :
- Organic
- Conventional
- By End Use :
- Food Industry
- Bakery & Confectionery
- Soups, Sauces and Dressings
- Dairy Products & Frozen Desserts
- Infant Nutrition
- Other Processed Foods
- Foodservice
- Non-Food Applications
- Food Industry
Regional Landscape:
- United States is dominating the market share due to the high consumption of processed and instant food products in the region. Also, high adoption is due to the high availability of corn as a raw material.
- Asia Pacific market is expected to witness a rapid pace due to Asia’s large consumer market and low labor costs.
- China and India are the major producers of textiles, which generates high demand for raw materials such as waxy maize starch.
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