Steady demand from the U.S. food and beverage sector will continue to have a significant impact on the global maltodextrin market revenues. Valued at US$ 2.64 Bn in 2015, the global market is expected to grow at over 5% annually through 2020 and reach nearly US$ 3.40 Bn in revenues. The key trends expected to shape up the market during the forecast period 2014-2020 include,
- Growing Demand for GMO-free Maltodextrin: In the backdrop of mounting concerns about the potential health impact of GMO starches, manufacturers are hard pressed to include natural and organic ingredients in their offerings. This is expected to invigorate spending on research and development (R&D) for ingredients that not only promote health and well-being, but also have long shelf-life. Scouring such ingredients is expected to pose challenges to manufacturers during the forecast period.
- Steady Adoption in Veterinary Healthcare: While food and beverage industry will continue to create sustained demand for maltodextrin, use of maltodextrin in animal feed is expected to witness an increase. Maltodextrin is used as a feed premix, spray drying carrier, and an excipient for medical tablets.
- Increasing Application as Industrial Chemicals: Growing use of maltodextrin in industrial chemicals is expected to create further market opportunities for market players. Consistent advancement in production technology has resulted in wider applications of maltodextrin.
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Maltodextrin Market: Application Analysis and Forecast
Unsurprisingly, food and beverages remains the largest application segment for maltodextrin, and will remain so during the forecast period. Demand for maltodextrin from food and beverage sector is expected to reach US$ 1.68 Bn in 2016, up from US$ 1.60 Bn in 2015. Among the various food and beverage sectors – dairy products, nutritional foods, infant formula, confectionary & bakery, soups & dry mixes, and beverages – dairy products will account for the bulk of demand for maltodextrin during the forecast period. However, the dairy product segment will continue to lose market share to nutritional food segment over the course of the forecast period.
Region-wise Analysis and Forecast on Maltodextrin Market
North America, Western Europe, and Asia Pacific will continue to remain the three largest markets for maltodextrin during the forecast period. While North America is expected to remain the largest market for maltodextrin by the end of the forecast period, it will lose 50 BPS over 2015-2020. Asia Pacific and Western Europe will gain 50 and 10 BPS respectively.
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The market in North America is highly buoyant for GMO-free starches, whereas the growing demand in Europe is on account of its growing application in dry mixes, infant formula, and milk powder. Asia Pacific is expected to emerge as one of the most attractive market during the forecast period, buoyed by the growing food and beverage sector in the region. Home to nearly 60% of world’s population, maltodextrin market in the region will grow at the highest CAGR among all the regions.
The Archer Daniels Midland Company, Ingredion Incorporated, Grain Processing Corporation, Penford Corporation, Tate & Lyle Plc, Cargill Inc., Roquette Freres SA, Tereos Syral, and Zhucheng Dongxiao Biotechnology Co., Ltd. are among the leading players in the market.
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