Maltodextrin is a polysaccharide that is produced by partial hydrolysis of starch or glycogen. It is commonly used as an additive in foods and pharmaceuticals to adjust viscosity and function as a functional food. Maltodextrin is highly soluble in water and practically tasteless and odorless. Due to its low cost and solubility, maltodextrin is widely used as a filler in various powdered food products such as packaged snacks, powdered drink mixes, candies etc.
The global maltodextrin market is estimated to be valued at US$ 3,571.9 million in 2021 and is expected to exhibit a CAGR of 5.1 % over the forecast period (2021-2028).
Key Takeaways
Key players operating in the Maltodextrin market are Cargill, Incorporated, Archer Daniels Midland Company, Ingredion Incorporated, Roquette Frères S.A., Tate Lyle Plc, Penford Corporation, Grain Processing Corporation, Zhucheng Dongxiao Biotechnology Co., Ltd., and Tereos Syral S.A.S.
The rise in Maltodextrin Market Growth for functional food & beverages is one of the major opportunities in the global maltodextrin market. Manufacturers are focusing on developing clean label and organic maltodextrin which is fueling the market growth.
North America dominates the global maltodextrin market followed by Europe and Asia Pacific. However, Asia Pacific is expected to witness highest growth rate owing to increasing demand from food & beverage industry in developing economies such as India and China.
Market Drivers
The increasing demand from food & beverage industry is the major factor driving the growth of the global maltodextrin market. Maltodextrin is widely used in packaged foods, sports & dietary supplements, candies, and confectionery products due to its thickening, bodying and nutritional properties. Growing health awareness among consumers has increased the demand for low calorie and low fat food products which is further propelling the market growth. The diverse functionality of maltodextrin such as versatile blending, smooth texture and good solubility also contributes to its increasing applications.
PEST Analysis
Political: The maltodextrin market is regulated by various food and safety authorities in different countries and regions. Any changes in the regulations can impact the production and trade of maltodextrin.
Economic: With rising income levels and growing health consciousness, the demand for low-calorie, healthier food products is increasing. This propels the demand for maltodextrin as a low-calorie sweetener and food additive.
Social: Changing lifestyles and busy schedules are boosting the demand for convenient packaged and ready-to-eat food products. Maltodextrin, being used as a food additive, finds increasing application in these foods.
Technological: Advancements in biotechnology techniques aid in producing customized maltodextrin variants with specific functional properties. New production processes help improve yield and reduce costs.
Geographical Regions of Concentrated Market Value
North America accounts for the largest share in the Maltodextrin market regional analysis in terms of value. This is attributed to the region’s developed food processing industry and high consumption of processed packaged foods. Europe is another major regional market where countries like Germany, UK, and France consume maltodextrin extensively in various food applications.
Fastest Growing Region
The Asia Pacific region is projected to be the fastest growing market for maltodextrin during the forecast period. This is driven by mounting health awareness, rising disposable incomes, and expanding food processing industry in developing countries of the region. Burgeoning demand from key end-use industries such as pharmaceuticals and food & beverages will support the market growth in Asia Pacific.