Report : Middle East & Africa 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 7.7% CAGR, the MEA Waxy Maize Starch Market is speculated to be worth US$ 197.93 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the MEA waxy maize starch market was valued at US$ 127.07 million in 2022 and is expected to reach US$ 197.93 million by 2028, registering a CAGR of 7.7% from 2022 to 2028. Surging Demand for organic waxy maize starch and increasing strategic developments by major market players are the critical factors attributed to the market expansion.
With rising health consciousness and growing awareness regarding the side effects of chemical additives in food and beverages, the demand for certified-organic products has increased significantly. Organic products are free from chemical fertilizers, pesticides, and genetically modified organisms. The ingredients used in these products are grown or processed by using organic farming regulations, which make organic products healthier than conventional ones. Owing to the growing demand for organic products, starch manufacturers are also developing certified-organic products to cater to the emerging consumer trends. For instance, Ingredion launched a line of certified-organic functional native starch derived from waxy maize in November 2020. The starch can be used in bakery products, baby food, frozen food, and other food products. Thus, the rising demand for organic food is expected to drive the waxy maize starch market growth in the coming years.
On the contrary, availability of substitute for waxy maize starch hurdles the growth of MEA waxy maize starch market.
Based on type, the MEA waxy maize starch market is segmented into native starch and modified starch. The native starch segment held 56.3% market share in 2022, amassing US$ 71.55 million. It is projected to garner US$ 115.99 million by 2028 to expand at 8.4% CAGR during 2022–2028.
Based on category, the MEA waxy maize starch market is segmented into organic and conventional. The conventional segment held 89.0% market share in 2022, amassing US$ 113.07 million. It is projected to garner US$ 174.70 million by 2028 to expand at 7.5% CAGR during 2022–2028.
Based on application, the MEA waxy maize starch market is segmented into food and beverages, pharmaceuticals and nutraceuticals, and others. The food and beverages segment held 71.8% market share in 2022, amassing US$ 91.20 million. It is projected to garner US$ 142.64 million by 2028 to expand at 7.7% CAGR during 2022–2028.
Based on country, the MEA waxy maize starch market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of MEA. Our regional analysis states that Rest of MEA captured 33.6% market share in 2022. It was assessed at US$ 42.66 million in 2022 and is likely to hit US$ 62.84 million by 2028, exhibiting a CAGR of 6.7% during the forecast period.
Key players dominating the MEA 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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