Wilmington, Delaware, United States, July 20, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global waxy maize starch market was valued at US$ 3.68 Bn in 2022. It is expected to grow at a CAGR of 5.8% during the forecast period & it is anticipated to reach US$ 6.49 Bn by the end of 2032.
All waxy starches, including derived from maize, consisting of a large percentage of amylopectin with no or little amylose arewidely usedas a base for modified starches. Surge in popularity of modified starches in the manufacture of processed food is expected to create significant business opportunities in the market. Starch manufacturers are focusing on increasing the functional and health benefits of waxy maize starches by employing advanced physical, chemical, and enzymatic treatments for their processing.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 3.68 Bn | |
| Estimated Value | US$ 6.49 Bn | |
| Growth Rate - CAGR | 5.8% | |
| Forecast Period | 2022–2032 | |
| No. of Pages | 328 Pages | |
| Market Segmentation | Type, Nature, End Use | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America | |
| Companies Covered | AGRANA Beteiligungs-AG, Cargill, Incorporated, Daesang Corp, Ingredion, Manildra Group, Roquette Frères, Samyang Corporation, Sanwa Starch Co., Ltd., and Tate & Lyle | |
Competition Landscape
A few large-scale players account for majority stake in the global waxy maize starch market. Leading players are focusing on acquisition strategy to increase market share. Most prominent companies operating in the market are investing significantly in R&D activities in order to extend their product lines.
AGRANA Beteiligungs-AG, Cargill, Incorporated, Daesang Corp, Ingredion, Manildra Group, Roquette Frères, Samyang Corporation, Sanwa Starch Co., Ltd., and Tate & Lyle
Increase in demand for waxy maize starches among detergent manufacturers is anticipated to offer lucrative business opportunities to companies in the market. Rise in adoption of waxy maize starches in the inks industry presents significant growth opportunities for market players.
Key Findings of Study
Increase in Usage of Conventional Waxy Maize Starch as Functional Ingredient in Food Industry
In terms of nature, the conventional segment accounted for 74.7% market share in 2022. The segment is projected to grow at a CAGR of 5.7% during the forecast period. Rise in utilization of waxy maize starches in stabilizing, texturing, and thickening processes in the food & beverage industry is anticipated to bolster market size. For instance, waxy maize starches are extensively used as a thickener for soups.
Companies Focusing on Novel Functional Food Ingredients
Advancements in processing of waxy maize starches are expected to broaden market outlook. Rise in research activities on uncovering new insights on the chain structure and large amplitude oscillatory shear (LAOS) rheological properties of starches is expected to augment market size. Companies are tapping into the rise in demand for high amylopectin starches in industries such as pharmaceuticals and textile industries.
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Key Growth Drivers of Waxy Maize Starch Market
- Rise in usage of starches in food and industrial applications is a key factor driving demand for waxy maize starches. Increase in preference for modified starches over unmodified starches is a key trend favoring market growth.
- Increase in utilization of functional food ingredients is anticipated to drive the waxy maize starch market. Dietary starches such as waxy maize starch are widely used as a source of dietary fiber.
- Significant demand for convenience food products in developing and developed countries is expected to augment market size.
Regional Landscape
North America accounted for leading market share in 2022. The market in the region is projected to expand at a CAGR of 5.8% during the forecast period. Rise in development of starches with unique properties is expected to bolster market value in the region.
Europe held significant market share in 2022. Considerable demand for ready-to-eat (RTE) fresh foods is expected to fuel market development. Companies in the market are focusing on non-food applications of waxy maize starch in order to increase market share. The market in Middle East & Africa is projected to expand at a CAGR of 4.0% from 2022 to 2032.
Segmentation
The global waxy maize starch market is segmented based on
Type
- Native
- Modified
Nature
- Organic
- Conventional
End-use
- Food Industry
- Bakery & Confectionery
- Soups, Sauces, and Dressings
- Dairy Products and Frozen Desserts
- Infant Nutrition
- Other Processed Foods
- Foodservice
- Non-food Applications
Region
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
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