Future Market Insights (FMI), in a recently published study on the worldwide maltodextrin market, predicts that the maltodextrin market will increase annually (YoY) by 4.8% to reach US$ 3.61 Bn in 2021. The market is anticipated to grow at a CAGR of 5.0% to reach US$ 5.87 billion in 2031.
Maltodextrin is gaining traction in the food & beverages industry. It is extensively being used as thickener, stabilizer, and filling agent for manufacturing various products such as soft and instant drinks, ice cream, and gelatins owing to its excellent texturizing, emulsifying, and non-crystallizing properties. Hence, increasing demand for the aforementioned products is estimated to create lucrative sales opportunities in the market.
A number of players in the market are focusing on expanding their production capacity to capitalize on these opportunities. For instance, Cargil, Inc., announced investing US$ 40 Mn to expand its production facility in Davangere, Karnataka in 2018. This will assist the company to increase its production of maltodextrin, glucose, and starches from 800 TPD to 1200 TPD. A multiplicity of such developments is anticipated to drive the demand by 4.8% year-on-year growth in 2021.
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Among source verticals, the corn-based segment is projected to outpace the others, expanding at 4.3% CAGR over the assessment period. The primary factor driving the market is increasing demand for low-cost food additives to improve the flavor, texture, shelf life of foods.
“Increasing demand for powdered sugar substitutes and approval on using maltodextrin in baby food products and sports nutrition by Delegated Regulation No. 2016/127 in European Union are expected to accelerate the growth in the market,” says a FMI analyst.
Key Takeaways from Maltodextrin Market Study
- The market in the U.S. is anticipated to account for the dominant share in North America, surging at a CAGR of 4.3% during the assessment period.
- Sales in the Europe market are forecast to expand at 3.8% CAGR through 2031, owing to the increasing demand for sports beverage products in Germany, France, and the U.K.
- China is expected to emerge as a highly remunerative market, creating incremental opportunities of US$ 413.6 Mn by the end of 2021.
- India is projected to hold a significant share in the Asia Pacific market, accounting for nearly 23.6% of the sales in the region in 2021.
- In terms of form, the spray dried powder segment is estimated to lead the market, accounting for around 63% of the demand share between 2021 and 2031.
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Key Drivers
- Increasing use of maltodextrin as diluents in sachets and single-unit dose formulations across the pharmaceuticals sector owing to its intrinsic polymeric structure is increasing the sales in the pharmaceuticals industry.
- Rising application of corn-based maltodextrin in the production of baby food products as it helps in balancing intestinal osmolality and maximizing hydration in infants is propelling the demand across the corn-based segment.
Key Restraints
- Side effects associated with the consumption of maltodextrins such as weight gain, bloating, allergic reaction, rashes, gas, cramping, and others are hampering the demand in the market.
- Availability of large number of substitutes such as agar, gaur, gum, stevia, pectin, and others is hindering the sales of maltodextrin.
Competitive Landscape
As per FMI, the top 10 companies in the global maltodextrin market account for around 30% to 50% of the market share in 2021.
Leading players are focusing on introducing novel products to gain competitive edge. Apart from this, some of the manufacturers are engaging into strategic collaboration, merger, agreement, partnership, and acquisition to expand their production capacity and strengthen their market footprints. For instance,
- In 2021 Cargill, an American privately held global food corporation, announced extending its current product portfolio by launching a new rice flour-based maltodextrin substitute, SimPure. It improve mouthfeel and can be used as a one-to-one substitute for maltodextrin.
- In 2018, Archer Daniels Midland Company (ADM), an American multinational food processing announced entering into a partnership with manufacturer of fermentation-based food additive, Vedan International to offer a line of specialty tapioca maltodextrin and tapioca starches components. This partnership will assist both the companies to strengthen their footprint in the maltodextrin market.
Some of the key players operating in the market profiled by FMI are:
- Grain Processing Corp
- Roquette
- Cargill Inc.
- Matsutani
- Archer Daniels Midland Company (ADM),
- Ingredion
- Tate and Lyle
- Agrana Group
- Avebe
- Nowamyl
- Others
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More Valuable Insights on Maltodextrin Market
A new report published by FMI offers a detailed analysis of the global maltodextrin market, uncovering vital dynamics accelerating the market growth through 2021 and beyond. The survey also forecast sales projections for maltodextrin market with detailed segmentation:
By Source:
- Corn-Based
- Wheat-Based
- Potato-Based
- Cassava-Based
- Others (Rice, Banana)
By Form:
- Spray-Dried Powder
- “Instantized” / Agglomerated**
By Application:
- Food and Beverages
- Cosmetics and Personal Care
- Pharmaceuticals
- Daily and Fine Chemicals
- Others
Region:
- North America
- Latin America
- Europe
- Asia Pacific
- MEA
Key Questions Covered in the Report
- The report offers insight into maltodextrin market demand outlook for the forecast period 2021-2031
- The market study also highlights projected sales growth for maltodextrin market between 2021 and 2031
- Maltodextrin market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Maltodextrin market share analysis, covering key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
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About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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