What is the global market size of Waxy Maize Starch Market?

Waxy Maize Starch Market size was valued at USD 3.48 billion in 2021 and is poised to grow from USD 3.68 billion in 2022 to USD 6.12 billion by 2030, growing at a CAGR of 5.8% in the forecast period (2023-2030).

Who are the key vendors in the Global Waxy Maize Starch Market?

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.'.

What is the key driver of Global Waxy Maize Starch Market?

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.

What is the key market trend for Global Waxy Maize Starch Market?

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.

Which region accounted for the largest share in Global Waxy Maize Starch Market?

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.

Lactose Market Size, Share, Growth Analysis, By Source (Yeast, Fungi), By Form (Liquid, Dry), By Application (Food & Beverages, Pharmaceutical Products & Dietary Supplements), By Region - Industry Forecast 2024-2031

Report ID: SQSG30C2038 | Region: Global | Published Date: December, 2024
Pages: 242 | Tables: 92 | Figures: 76

Lactose Market Insights

Lactose Market size was valued at USD 2.22 billion in 2022 and is poised to grow from USD 2.3 billion in 2023 to USD 3.22 billion by 2031, growing at a CAGR of 3.8% in the forecast period (2024-2031).

Lactose is a byproduct of the cheese manufacturing process; it is isolated from liquid whey. Commercially, it is one of the most important dairy ingredients, with multiple applications in a variety of industries, including the food business for creams, bread items, and confectioneries, and the feed industry, primarily as an ingredient in pig feed. Furthermore, it is frequently utilized in the manufacture of infant formula and as an excipient/filler in the pharmaceutical industry. The burgeoning pharmaceutical industry in developing nations, as well as the increased use of lactose in food processing and infant formula manufacturing, is driving up global demand. Furthermore, the growing demand for food and infant-grade lactose in key dairy-producing countries has aided in the rise of the lactose industry.

US Lactose Market is poised to grow at a sustainable CAGR for the next forecast year.

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The market is fragmented in nature. The prominent players operating in the lactose market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions. 'Chr. Hansen Holdings A/S ', 'Kerry Group plc ', 'Koninklijke DSM N.V. ', 'Novozymes A/S ', 'Merck KGaA ', 'International Flavors & Fragrances Inc. (IFF) ', 'Amano Enzyme Inc. ', 'Advanced Enzyme Technologies ', 'Novact Corporation ', 'Antozyme Biotech Pvt. Ltd. ', 'Nature Bioscience Pvt. Ltd. ', 'Aumgene Biosciences ', 'Creative Enzymes ', 'Biolaxi Enzymes Pvt. Ltd. ', 'Enzyme Bioscience Pvt. Ltd. ', 'Infinita Biotech Pvt. Ltd. ', 'Mitushi Biopharma ', 'Oenon Holdings Inc. ', 'Ultreze Enzymes ', 'Senson'

Increasing demand for food and infant-grade lactose, as well as a growing pharmaceutical industry in developing countries, contributed to lactose market expansion. Demand for infant formula has increased significantly, particularly in industrialized countries such as the United States and major European countries. China, which has historically been one of the greatest single consumers of infant formula, has long relied on imports. Because of the melamine controversy in 2008, there was a greater desire for imported baby formula brands. However, China has changed its focus to homegrown brands, promoting the country's major domestic producers. China Feihe and Inner Mongolia Yili Industrial Group Co. are two market leaders in the Chinese infant formula business. Due to increased demand for its infant formula brands in China, China Feihe had a 38% growth in sales from 2019 to 2020.

The expansion of the lactose market was aided by the decreasing breastfeeding rates globally. The rise in the working population and the availability of breast milk substitutes are mostly to blame for the global decline in breastfeeding rates. One of the important elements driving up demand for infant formula in emerging nations such as China is the decreased breastfeeding rate in both developed and developing countries. As a result, some market participants are concentrating their efforts on manufacturing infant formula that is as near to breast milk as feasible. As a result, global demand for infant-grade lactose is increasing. Similarly, with sustained economic expansion and urbanization around the world, breastfeeding rates in wealthy countries such as the United States, Germany, and Japan are likely to stay low, increasing demand for infant milk formula. As a result, demand for infant-grade lactose increased, supporting market development.

In 2021, Asia-Pacific region is expected to have the biggest share of the lactose market. The increasing manufacturing of infant formula in the region, as well as the growing pharmaceutical industry in Asian countries such as China and India, are some of the factors driving Asia Pacific's dominance in 2021. Furthermore, strategic expansion efforts by major competitors in the market to meet rising demand are fueling market growth. For example, Olam Food Ingredients announced an investment plan for a new dairy processing factory in Tokoroa, New Zealand, in September 2021. The new factory will improve the company's global production network by producing high-value dairy ingredients such as lactose.

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Lactose Market Size, Share, Growth Analysis, By Source (Yeast, Fungi), By Form (Liquid, Dry), By Application (Food & Beverages, Pharmaceutical Products & Dietary Supplements), By Region - Industry Forecast 2024-2031

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