Report : Europe Waxy Maize Starch Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Modified Starch and Native Starch), Category (Organic and Conventional), and Application (Food and Beverages, Pharmaceuticals and Nutraceuticals, and Others)
At 6.3% CAGR, the Europe Waxy Maize Starch Market is speculated to be worth US$ 722.16 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe waxy maize starch market was valued at US$ 501.40 million in 2022 and is expected to reach US$ 722.16 million by 2028, registering a CAGR of 6.3% from 2022 to 2028. Growing applications of waxy maize starch in pharmaceuticals & nutraceuticals industry and rising demand for waxy maize starch in food industry are the critical factors attributed to the market expansion.
Waxy maize starch is used as a diluent, disintegrating agent, filler, and binding agent in various pharmaceutical products, such as tablets, hard capsules, blends, and premixes. It is an ideal pharmaceutical excipient owing to its excellent binding, water retention, and thickening properties. 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 store and aid recovery. Supplement manufacturers are using waxy maize starch in their products to offer innovative products with high nutritive value. Consumers are concentrating on nutrition and wellbeing 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, vitamin, and mineral supplements. Thus, the growing applications of waxy maize starch in the pharmaceuticals & nutraceuticals industry is significantly driving the growth of the waxy maize starch market.
On the contrary, availability of substitute for waxy maize starch hurdles the growth of Europe waxy maize starch market.
Based on type, the Europe waxy maize starch market is segmented into native starch and modified starch. The native starch segment held 57.2% market share in 2022, amassing US$ 286.69 million. It is projected to garner US$ 419.99 million by 2028 to expand at 6.6% CAGR during 2022–2028.
Based on category, the Europe waxy maize starch market is segmented into organic and conventional. The conventional segment held 86.5% market share in 2022, amassing US$ 433.71 million. It is projected to garner US$ 618.62 million by 2028 to expand at 6.1% CAGR during 2022–2028.
Based on application, the Europe waxy maize starch market is segmented into food and beverages, pharmaceuticals and nutraceuticals, and others. The food and beverages segment held 61.9% market share in 2022, amassing US$ 310.61 million. It is projected to garner US$ 444.81 million by 2028 to expand at 6.2% CAGR during 2022–2028.
Based on country, the Europe waxy maize starch market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Our regional analysis states that the Rest of Europe captured 38.3% market share in 2022. It was assessed at US$ 191.90 million in 2022 and is likely to hit US$ 261.79 million by 2028, exhibiting a CAGR of 5.3% during the forecast period.
Key players dominating the Europe waxy maize starch market are AGRANA Beteiligungs AG; Cargill, Incorporated; Roquette Frères; Sinofi Ingredients; Tate & Lyle PLC; and Tokai Denpun Co., Ltd. among others.
- In 2022, Cargill, Incorporated launched Beauty’s StarDesign Starch Range.
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