Waxy Maize Starch Market
Global Waxy Maize Starch Market

Global Waxy Maize Starch Market Size, Share, Growth Analysis, By Type(Native Starch, Modified Starch), By End User(Foods, Beverages), By Nature(Organic and Conventional) - Industry Forecast 2024-2031

Report ID: SQSG15E2033 | Region: Global | Published Date: February, 2024
Pages: 242 | Tables: 93 | Figures: 76

Global Waxy Maize Starch Market News

  • In May 2022, Tate & Lyle announced the launch of a new Customer Innovation and Collaboration Centre in Santiago, Chile for better consumer service and reach. Tate & Lyle is a leading global manufacturer of food and beverage ingredients and solutions.
  • In January 2022, AGRANA built a huge solar system at its potato starch mill in Gmünd, Waldviertel, under a contracting basis with RWA Solar Solutions. This installation is ready now and has 890 photovoltaic modules covering 1,650 m2 that have been put on the potato starch factory's roof and will produce 338,000 kWh annually. Gmünd's annual solar power output is enough for 75 families.
  • In May 2021, Daesang Corp. announced its expansion plan to reach the US$1 billion sales milestone in Indonesia over the next decade. The South Korean food-maker plans to increase sales in the Indonesian market by 2030. Daesang hopes its ascent in Indonesia can expand to other halal markets in Southeast Asia and the Middle East.
  • In September 2019, Cargill has partnered with two Indian enterprises to make maize starch and sweeteners in India. Cargill India, which owns an 800-tonne-per-day wet maize milling plant in Karnataka, has teamed with two units in South India one each in Karnataka and Andhra Pradesh to increase its production capacity.
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Waxy Maize Starch Market size was valued at USD 3.48 billion in 2019 and is poised to grow from USD 3.68 billion in 2023 to USD 6.12 billion by 2031, growing at a CAGR of 5.8% in the forecast period (2024-2031).

The Waxy maize starch market is relatively fragmented, with a high level of competition. Few large players, like Cargill Inc., AGRANA Group, and Daesang Corp, now control the market in terms of market share. These industry leaders are extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other start-up enterprises to enhance their waxy maize starch market share and profitability. 'Cargill', 'Archer Daniels Midland Company', 'Ingredion Incorporated', 'Roquette Freres', 'Tate & Lyle', 'Grain Processing Corporation', 'Avebe U.A.', 'Emsland Group', 'Agrana Beteiligungs-AG', 'Beneo GmbH', 'Tereos Starch & Sweeteners', 'AGRANA', 'Manildra Group', 'Sudzucker AG', 'KMC', 'Henan Jindan Lactic Acid Technology Co. Ltd.', 'Felda Iffco Sdn Bhd', 'Hunan Huaxing Chemical Co. Ltd.', 'Guangzhou Wansheng Food Group Co. Ltd.', 'Guangxi Guangwei Chemical Co. Ltd.'

Increasing population and raising industrialization (particularly in the food and beverage, textile, paper and printing, pharmaceutical and other health and beauty products, and adhesives industries) are the primary drivers of demand for starch. As the increasing population will propel the demand for various products which will drive the demand for the waxy maize starch which is used as raw material for various items.

Clean label components and products are affecting food & beverage and other global businesses. Rising consumer health consciousness and demand for natural, pure, high-quality products have fueled demand for clean label starches.

Due to the increasing demand for processed and fast or convenient food products, North America held the greater global corn starch market share. For the most part, the United States was the region's biggest market. The main factors that have contributed to the expansion of the corn starch market in the United States and North America are the competitive pricing of corn starch and the abundance of corn as a raw material. Corn starch demand is on the rise due to the region's growing population and higher median income, both of which support the expanding trend of eating processed and convenience foods. Industry leaders are developing new items specifically for the region. In 2020, for instance, Tate & Lyle, a global distributor of food and beverage ingredients and solutions, introduced novel gelling starches made from Non-GMO dent corn. Both THINGUM 107NG and MERIZET 100NG are excellent corn starches for improving the quality of jelly candies and processed cheese. They are the first non-GMO starches made by companies in the United States using dent corn.

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