The waxy maize starch market is valued to be worth US$ 3.68 Billion in 2022 and during the forecast period, it is anticipated to grow at a CAGR of 5.8%. In 2032, the market for waxy maize starch is expected to be worth US$ 6.49 Billion.
Waxy maize starch is a versatile ingredient utilized in many different final product sectors, including the culinary, textile, and pharmaceutical industries. It’s mixed into the yarn to make it stronger and less likely to wear out from everyday use, as well as to keep out moisture. When fabrics are overprinted with colourful inks, it acts as a filler and stabiliser. The following advantages are propelling the industry forward.
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- 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.
- 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.
- 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.
Due to the presence of numerous international and domestic suppliers, competition in the waxy maize starch market is fierce. Despite the existence of major international companies like Cargill Inc., Archer Daniels Midland Co., Ingredion Inc., Tate & Lyle PLC, and Associated British Foods PLC, the waxy maize starch market remains highly fragmented. The major players are pursuing consolidation and the optimization of their offerings by engaging in activities such as mergers and acquisitions and the development of new products. Some of the largest corporations are investing heavily in factory expansions so they can produce a wider variety of goods. As the demand for waxy maize starch continues to grow, this aids the companies in meeting consumer demands while also increasing their global footprint.
· By Type :
· By Nature :
· By End Use :
- Food Industry
- Bakery & Confectionery
- Soups, Sauces and Dressings
- Dairy Products & Frozen Desserts
- Infant Nutrition
- Other Processed Foods
- Non-Food Applications
· By Region :
- North America
- Latin America
- South Asia
- East Asia
- Middle East & Africa
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How will be insights and market estimations provided in the Fact.MR report on the Demand of Waxy Maize Starch make a difference?
- The study takes a closer look at the major economic turmoil, with a focus on the recent COVID-19 pandemic disruptions
- The assessment of key growth dynamics highlights the attractiveness of new automation technologies and offers readers insight on the prospect of these during the forecast period
- The study tries to offer a balance perspective of the opportunities in mature and the most lackluster markets
- Provides scrutiny of the industry trends that have shaped recent government policies
- Provides an account of major breakthroughs in all segments that might change the course of the market considerably
- Provides an incisive analysis of socio-political milieu in which the key markets operate, and how will that influence the lucrativeness of the overall Waxy Maize Starch Market
- Analyzes how collaborations and partnerships among players from different industries shape the key growth dynamics in the near future
- Evaluates the role of various stages of funding on new growth avenues in key regional markets
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