Market Research Report
Maltodextrin is a white powder which is extracted from natural sources including rice, corn, starch, potato, and wheat. It is a polysaccharide which is used as a food additive. It is produced from the partial hydrolysis of starch. Maltodextrin has been approved by the U.S. Food and Drug Administration (FDA) as a safe food additive. The consumption of maltodextrin as a food additive is largely governed by changing trends in the genetically modified food products. Consumers are expected to lower the consumption of starch from GMO products and are rather expected to consume maltodextrin as an alternative GMO-free starch. The global maltodextrin market is estimated to grow at a CAGR of between 4.9% to 5.9% from 2019 to 2024.
The key factor driving growth of global maltodextrin market is the rising demand for healthy food products that contain maltodextrin. In addition, rising consumption of low-calorie artificial sweeteners and packaged food which is low in calories is another driving factor for the market. Furthermore, high demand from industries such as cosmetics, pharmaceuticals and industrial chemicals also adds to the overall growth of the maltodextrin market. On the contrary, since maltodextrin is high on glycemic index (GI), it can cause surge in blood sugar levels hence, it is not preferred by consumers with diabetes or insulin resistance.
The global maltodextrin market has been segmented based on type, application, end-user, and geography. Based on standard types, the global maltodextrin market has been segmented into MD10, MD15, and MD20. Based on applications, the global maltodextrin market has been segmented into binders, sweetener, encapsulation, and others. The various end-users of the maltodextrin vaccines are food & beverage, pharmaceuticals, industrial, paper, animal feed, cosmetics, and others. Among the various end-users, food & beverage accounted for larger share of the market owing to the use of maltodextrin as an additive in various food products. This segment is further expected to remain dominant in the near future expanding at a CAGR of 5.3% from 2019 to 2024. The market for maltodextrin in animal feed is also expected to showcase high growth thereby boosting the demand for maltodextrin over the forecast period from 2019 to 2024.
Based on geography, the global maltodextrin market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America comprises U.S., Canada, and Mexico whereas Europe would primarily cover Germany, France, UK, Italy, and Rest of Europe. The key countries included under Asia Pacific are China, Japan, India, Australia, and Rest of Asia Pacific. In Latin America, Brazil, Argentina, and Rest of Latin America are the key segments whereas in Middle East & Africa, South Africa and Rest of MEA are the key segments covered in the report. North America accounted for the largest share in the global maltodextrin market; it is further projected to dominate the global market by 2024. Europe accounted for second largest market share whereas Asia Pacific is projected to grow at fastest pace of 5.5% owing to high growth in the food & beverage industry in this region.
The global maltodextrin market is fragmented with a number of manufacturers having strong hold on the global market. Some of the key manufacturers of maltodextrin vaccine in the global market include Archer Daniels Midland Company, Ingredion Incorporated, Grain Processing Corporation, Penford Corporation, Tate & Lyle Plc, Cargill Inc., Roquette Freres SA, Tereos Syral, Zhucheng Dongxiao Biotechnology Co.,Ltd., Agrana Grou, Matsutani, Nowamyl, SSFI-AAA, Radha Govind, and Henan Feitian Agricultural Development Co., Ltd. among others.
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