The consumption of maltodextrin as a food additive is largely influenced by changing trends in the market for GMO food products. Consumers are expected to lower the intake of starch derived from GMO crops, providing a considerable boost to consumption of maltodextrin as the alternative GMO-free starch constituent. In terms of revenues, the global maltodextrin market will continue to surge onward and attain US$ 2,918.9 Mn in 2017 at a y-o-y growth rate of 5%. The demand for maltodextrin will soar further, owing to its growing use as fat replacer in sports & wellness nutrition.
Rising demographics of health-conscious consumers has stimulated the demand for food products containing maltodextrin. Increasing consumption of low-calorie packaged food and growing use of low-calorie artificial sweeteners is expected to drive the demand for maltodextrin vigorously. Manufacturers producing raw maltodextrin will continue to expand their production capacity in order to cope with the extensive applications of maltodextrin in industrial chemicals, cosmetics and pharmaceuticals. However, the inapt use of wheat-based maltodextrin as a food additive in gluten-free food products is set to curtail its demand to some extent.
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Based on the applications, food & beverages industries will continue to uphold their dominance in the global maltodextrin market. The consumption of maltodextrin as fat replacer and sweetening additive in confectionery, bakery and nutritional food products is anticipated to rise substantially. In 2017, the food & beverages application segment will attain more than US$ 1,773.6 Mn in terms of market size. Industrial application of maltodextrin in production of paints, adhesives and cosmetic hair styling products is also expected to gain traction substantively.
North America is predicted to lead the global market and account for over 35% share of market value. The extensive use of maltodextrin in pharmaceuticals industries based in the US is predicted to attribute to the surging demand in North America. In Western Europe, higher acceptance of maltodextrin in spray drying encapsulation processes for food products is predicted to fuel the market growth. Another factor attributing to the growth of the global maltodextrin market in Western Europe is the surging use of maltodextrin as a milk replacer in dairy products and as a hydrocolloid in production of yogurt products and jelly-based confectionary food items.
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Similarly, Asia Pacific (APAC) will also be among the lucrative regions favouring the growth of global maltodextrin market, especially due to rise in consumption of GMO-free food products in APAC countries. Moreover, the consumption of maltodextrin in the APAC region will be substantially influenced by its increasing use as an additive in dry mixes, infant formulas, nutritional food products and milk powder.
Companies such as Roquette Frères S.A., Archer Daniels Midland Company, Tereos Syral S.A.S, Grain Processing Corporation, and Cargill Incorporated, among others, are observed as some of the key players in the global market for maltodextrin.
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Long-term Outlook: In terms of market value, the global maltodextrin market is projected to expand at a CAGR of 5.1% and reach US$ 3,398.3 Mn over the forecast period 2016-2020. While North America will continue to dominate market share, Asia Pacific is anticipated to grow at the highest CAGR of 5.5% during the forecast period.
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