The waxy maize starch market in APAC is expected to grow from US$ 743.21 million in 2022 to US$ 1,206.92 million by 2028. It is estimated to grow at a CAGR of 8.4% from 2022 to 2028.
Surging Demand for Organic Waxy Maize Starch
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. Similarly, BIOSTARCH, a Chinese manufacturer of starch, sweeteners, and flour, offers certified-organic waxy maize starch. 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.
Market Overview
The Asia Pacific waxy maize starch market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. The market is proliferating owing to the potential customer base of developing economies such as China and India, people's food preferences, and the rising demand for healthy functional food products. Waxy maize starch is extensively utilized in food & beverages and textile & paper manufacturing sectors for the stabilization and emulsification of products and as a powder binder in the pharmaceutical industry. According to China Starch Industry Association, a total of 39.17 million tons of corn starch was produced in China in 2021. Native and modified waxy maize starch is extensively produced in Asia Pacific countries, owing to its multi-functional nature. The production of waxy maize starch in the region, specifically in China and India, is bifurcated into organized and unorganized sectors. Moreover, China, India are among the world’s largest textile-producing countries which creates potential demand for raw materials such as waxy maize starch.
APAC Waxy Maize Starch Market Revenue and Forecast to 2028 (US$ Million)
APAC Waxy Maize Starch Market Segmentation
The APAC waxy maize starch market is segmented into type, category, application, and country.
Based on type, the market is segmented into native starch and modified starch. The native starch segment registered a larger market share in 2022.
Based on category type, the APAC waxy maize starch market is segmented into organic and conventional. The conventional segment registered a larger market share in 2022.
Based on application, the APAC waxy maize starch market is segmented into food and beverages, pharmaceuticals and nutraceuticals, and others. The food and beverages segment registered the largest market share in 2022.
Based on country, the market is segmented into Australia, China, India, Japan, South Korea, and the Rest of APAC. The Rest of APAC dominated the market share in 2022.
AGRANA Beteiligungs-AG; Cargill, Incorporated; Manildra Group; New Zealand Starch Limited; Roquette Frères; Samyang Corporation; Sanwa Starch Co., Ltd.; Sinofi Ingredients; Tate & Lyle PLC; and Tokai Denpun Co., Ltd. are the leading companies operating in waxy maize starch market in the region.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 743.21 Million |
| Market Size by 2028 | US$ 1,206.92 Million |
| CAGR (2022 - 2028) | 8.4% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Type
|
|
Regions and Countries Covered
|
|
| Asia-Pacific | China, India, Japan, Australia, Rest of Asia-Pacific |
| Market leaders and key company profiles |
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The Asia-Pacific Waxy Maize Starch Market is valued at US$ 743.21 Million in 2022, it is projected to reach US$ 1,206.92 Million by 2028.
As per our report Asia-Pacific Waxy Maize Starch Market, the market size is valued at US$ 743.21 Million in 2022, projecting it to reach US$ 1,206.92 Million by 2028. This translates to a CAGR of approximately 8.4% during the forecast period.
The Asia-Pacific Waxy Maize Starch Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia-Pacific Waxy Maize Starch Market report:
The Asia-Pacific Waxy Maize Starch Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia-Pacific Waxy Maize Starch Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia-Pacific Waxy Maize Starch Market value chain can benefit from the information contained in a comprehensive market report.
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