Waxy Maize Starch Market Research Report and Outlook by 2028

The waxy maize starch market is projected to expand from US$ 2,000.68 million in 2021 to US$ 3,257.37 million by 2028, reflecting a compound annual growth rate (CAGR) of 7.3% from 2022 to 2028.

Waxy maize starch is a complex carbohydrate derived from maize, commonly known as corn. This starch is widely utilized in the food and beverage industry, serving as a gelling, thickening, and binding agent in products such as bakery items and confectionery. Beyond food applications, waxy maize starch finds use in various non-food sectors, including pulp and paper production, pharmaceuticals, and animal feed. In the pharmaceutical industry, it acts as a binding agent and excipient in tablet manufacturing. In animal feed, waxy maize starch and its derivatives provide energy and function as stabilizers and thickening agents. Additionally, it is incorporated into diverse industries such as textiles and pharmaceuticals, enhancing the mechanical strength of yarns and resisting moisture penetration. In textile applications, it also serves as a stabilizer and filler for colored inks used in fabric overprinting.

The market for waxy maize starch is categorized by type into modified starch and native starch. The native starch segment is anticipated to experience the highest CAGR during the forecast period. Characterized by long carbohydrate chains, native starch expands or swells to varying degrees based on type and temperature. This starch is insoluble in cold water and is commonly used as a universal thickener in paints and coatings. In the production of label adhesives, native waxy starch demonstrates enhanced adhesive properties, particularly in high-speed machinery. Food and beverage manufacturers frequently utilize native starch as a texturizer, gelling agent, stabilizer, and thickening agent. Major global producers of native waxy maize starch include Cargill Incorporated, Roquette Fr?res, and Tate & Lyle.

Geographically, the waxy maize starch market is segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South & Central America. In 2021, the Asia Pacific region held the largest market share and is expected to register the highest CAGR during the forecast period. The increasing demand for ready-to-eat and convenience food products, driven by busy lifestyles and a growing working population in countries like India and Japan, is significantly boosting the food processing industry. This growth is creating new investment and export opportunities. The application of maize starch as a stabilizer, thickening agent, and emulsifier in the production of bakery goods, confectionery, noodles, spaghetti, and other extruded convenience foods is propelling the demand for waxy maize starch among food and beverage manufacturers. Furthermore, China and India, being among the largest textile producers globally, are contributing to the rising demand for raw materials such as waxy maize starch. The extensive production of both native and modified waxy maize starch in the Asia Pacific region, particularly in China and India, is divided between organized and unorganized sectors. These factors are expected to drive the growth of the waxy maize starch market in the Asia Pacific region.

Key players in the waxy maize starch market include Cargill, Incorporated, Tate & Lyle PLC, AGRANA Beteiligungs-AG, Manildra Group, Roquette Fr?res, Sinofi Ingredients, Tokai Denpun Co., Ltd., Sanwa Starch Co., Ltd., New Zealand Starch Limited, and SAMYANG CORPORATION. These companies are focusing on business expansion through strategic initiatives such as collaborations, partnerships, new product development, mergers, and acquisitions, which are expected to further enhance the growth of the waxy maize starch market in the future.

The overall size of the waxy maize starch market has been determined through a combination of primary and secondary research methods. The research process began with extensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data related to the market. Additionally, numerous primary interviews were conducted with industry participants to validate the findings and gain deeper analytical insights. Participants included 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.