Waxy Maize Starch Market Worth $3+ Bn, Globally, by 2028 at 7.3% CAGR | The Insight Partners

NEW YORK, Oct. 13, 2022 /PRNewswire/ --  The Insight Partners published latest research study on "Waxy Maize Starch Market Size, Share, Revenue, Growth Strategy, Industry Trends and Forecast 2028 – COVID-19 Impact and Global Analysis – by Type, Category, Application, and Geography," the global waxy maize starch market size is expected to grow from USD 2,000.68 million in 2021 to USD 3,257.37 million by 2028; it is expected to grow at a CAGR of 7.3% from 2022 to 2028.

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Global Waxy Maize Starch Market Report Scope, Segmentations, Regional & Country Scope:

Browse key market insights spread across 155 pages with 86 list of tables & 75 list of figures from the report, "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)" in detail along with the table of contents: https://www.theinsightpartners.com/reports/waxy-maize-starch-market

Global Waxy Maize Starch Market: Competitive Landscape and Key Developments

A few leading players operating 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 players are focused on developing innovative products to meet the changing requirements of consumers.

Global Waxy Maize Starch Market: Key Insights

Hectic work schedules and busy lifestyles of people, the rising number of dual-income families and single-person households, and the increasing population of working women drive convenience food consumption. 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, further driving the market.

The waxy maize starch market in Asia Pacific is projected to register the highest CAGR during the forecast period. The awareness regarding health and nutrition has been increasing among consumers. Waxy maize starch manufacturers are expanding their operations across Asia Pacific due to the presence of a potential customer base, cheap labor, and adequate manufacturing facilities. China and India are among the world's largest textile-producing countries, which creates potential demand for raw materials, including waxy maize starch, boosting Asia Pacific waxy maize starch market growth.

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Rising Demand for Waxy Maize Starch in Food Industry:

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 and imparts an excellent texture to gravies, puddings, and fruit fillings.

Manufacturers of waxy maize starch are offering products with clean-label, vegan, and non-GMO claims. Roquette Frères, a France-based manufacturer of starches and other food ingredients, offers waxy maize starch for bakery and snack applications. The product is gluten-free, plant-based, and clean-labeled. Such products are gaining huge traction in the global market. Thus, the rising demand for waxy maize starch for manufacturing various food products is propelling the waxy maize starch market.

Global Waxy Maize Starch Market: Segmental Overview

Based on type, the waxy maize starch market is segmented into modified starch and native starch. The native starches segment accounted for a larger market share in 2021. Native starch is the purest form of starch obtained from waxy maize. Food and beverage manufacturers widely use it as a texturizer, gelling, stabilizing, and thickening agent. It can be added to a wide range of food products, including bakery items, soups and sauces, processed meat products, snacks, alcoholic and nonalcoholic beverages, and dry blends. Moreover, it is a universal thickener for paints and various coatings. Thus, the factors mentioned above are responsible for the segment's growth.

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Based on application, the waxy maize starch market is segmented into food & beverages, pharmaceutical & nutraceuticals, and others. The functional food & beverages segment accounted for the largest share in 2021. The demand for processed and packaged food products is expected to increase significantly due to the rapidly growing and highly urbanized population in developing economies of Asia and Latin America. Moreover, the growing preference for healthy foods drives the demand for waxy corn starch as it offers various health benefits. Waxy maize starch provides several functional benefits and contains multiple essential fibers and nutrients for the human body. It is also used in food products to improve the taste, texture, and flow ability and retain moisture, which helps increase the shelf life of finished products. Therefore, the demand for waxy maize starch is increasing and is expected to drive the segment's growth over the forecast period.

Impact of COVID-19 Pandemic on Global Waxy Maize Starch Market:

Supply chains were completely disrupted due to nationwide lockdown and border restrictions enacted by various governments during the COVID-19 pandemic, which affected the production and distribution of several products. However, the pandemic had a short-term impact on the food industry. Waxy maize starch manufacturers faced significant challenges due to supply chain constraints caused by nationwide lockdown, trade bans, and travel restrictions. The disruption in supply chains created a shortage of raw materials, which affected the production and distribution of various products, leading to increased prices. Moreover, a drop in grain exports significantly affected the profits of various small-scale and large-scale waxy maize starch manufacturers in 2020.

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