The global waxy maize starch market size is expected to reach US$ 3,257.37 million by 2028, registering a CAGR of 7.3% from 2022 to 2028, according to a new research study conducted by The Insight Partners.
Growing Applications of Waxy Maize Starch in the Pharmaceuticals & Nutraceuticals Industry
Waxy maize starch is utilized in sports nutrition and body-building products due to its high amylopectin content and high molecular weight. It also helps quickly replenish the muscle glycogen stored and aid recovery. Supplement manufacturers are using waxy maize starch to offer innovative products with high nutritive value. For instance, NOW Foods, a US-based manufacturer of dietary supplements and sports nutrition products, offers waxy maize starch powder. The company claims that the powder helps boost athletic performance and replenish energy levels. Consumers are concentrating on nutrition and well-being due to the rising prevalence of various health conditions, such as obesity, diabetes, high blood pressure, and heart diseases. This has created strong demand for dietary supplements, including protein, vitamins, and minerals. Thus, the growing applications of waxy maize starch in the pharmaceuticals & nutraceuticals industry are significantly driving the waxy maize starch market.
Waxy Maize Starch Market Breakdown – by Region
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)
Waxy Maize Starch Market Share, Size | Industry Report, 2028
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Key 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 key players of waxy maize starch are adopting product innovation strategies and investing in business expansions to meet the rising demand for waxy maize starch among various end-use industries.
Impact of COVID-19 Pandemic on Waxy Maize Starch Market
During the initial phase of the COVID-19 pandemic, the implementation of lockdown restrictions and shutdown of manufacturing units led to a production shortfall, which created a demand and supply gap. These factors hampered the profitability of various small-scale and large-scale waxy maize starch manufacturers. The shutdown of manufacturing plants in leading countries in North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa disrupted the global supply chains, manufacturing activities, delivery schedules, and sales of various essential and nonessential goods. However, in 2021, the economies resumed their operations, which boosted the global marketplace, particularly the waxy maize starch market.
In 2021, manufacturers were allowed to operate at full capacity and could overcome the demand and supply gap. Consumers prioritize their health and actively search for healthy alternatives and fitness activities to prevent lifestyle-related illnesses, aiding the waxy maize starch market growth.
The report segments the waxy maize starch market as follows:
The waxy maize starch market is segmented into type, category, and application. Based on type, the market is bifurcated into modified starch and native starch. Based on category, the market is segmented into organic and conventional. Based on application, the market is segmented into food & beverages, pharmaceuticals & nutraceuticals, and others. By geography, the waxy maize starch market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America (SAM).
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