Maltodextrin Market is estimated to witness steady growth due to increasing demand from the food & beverage industry and rising demand for convenient snacks
The global maltodextrin market is estimated to be valued at USD 3.51 Bn in 2024, exhibiting a CAGR of 5.5% over the forecast period (2024-2031). Maltodextrin is widely used as a stabilizer, thickening agent, and texturizer in food processing. Furthermore, rapid urbanization coupled with changing lifestyle of people is fueling the consumption of convenience snacks and beverages globally.
The global maltodextrin market is majorly driven by increasing demand from the food & beverage industry and rising demand for convenient snacks. Maltodextrin is widely used as a stabilizer, thickening agent, and texturizer in various food products like baked goods, confectionery, dairy, and desserts. Moreover, maltodextrin is ideal for use in energy drinks and dietary supplements owing to its composition and functional properties. The demand for convenient snacks is thriving globally due to busy lifestyle and changing food habits of consumers. Maltodextrin helps improve the texture and shelf life of snacks when used as an additive.
Growing Demand from the Food and Beverage Industry is Driving the Global Maltodextrin Market
The food and beverage industry is by far the largest end-user of maltodextrin. Maltodextrin is widely used as a food additive in various food products such as baked goods, confectionery, dairy products, beverages, etc. due to its neutral taste and easy solubility properties. The growing demand for packaged and convenience food products across the world is fueling the growth of the food and beverage industry. As maltodextrin is a key ingredient in many food formulations, the rising food industry is directly increasing the consumption of maltodextrin.
Increasing Usage in Pharmaceutical Industry is Propelling the Market Growth
Along with the food industry, the pharmaceutical industry is another major consumer of maltodextrin. It is commonly used as an excipient and diluent in tablet and capsule manufacturing. Maltodextrin possesses various properties such as bland taste, odorless, moisture retention, good blending properties, etc. that make it suitable for use in pharmaceutical products. The rising healthcare expenditure and growing generics market are augmenting the pharmaceutical industry worldwide. This, in turn, is driving the demand for maltodextrin from the pharma sector.
Competition from Alternative Ingredients Can Hamper the Market Growth
A key restraint for the global maltodextrin market is the availability of alternative ingredients that can replace maltodextrin in certain applications. For instance, rice syrup, tapioca syrup, honey, and agave nectar are emerging as replacements for maltodextrin in the confectionary and bakery industries. Some of these substitutes are considered healthier options compared to maltodextrin. The increasing health-consciousness among consumers is prompting food manufacturers to look for natural substitutes, which can potentially threaten maltodextrin's usage.
Volatility in Raw Material Prices Pose Challenge to Manufacturers
Corn is the primary raw material used to produce maltodextrin. Nearly 70-80% of the total production cost of maltodextrin constitutes the cost of corn. Frequent fluctuations in corn prices directly impact the manufacturing cost of maltodextrin. The prices remain volatile depending on factors such as corn production, global supply & demand forces, weather conditions, geo-political issues, etc. High raw material costs push up the overall price of maltodextrin as well. This price volatility poses a challenge for maltodextrin manufacturers to maintain stable profit margins.
Growing Demand from Nutritional and Dietary Supplements Sector Opens New Avenues
The nutritional and dietary supplements industry is emerging as a major growth avenue for the maltodextrin market. Maltodextrin is widely used in the manufacture of various sports nutrition, weight management, and clinical nutrition products due to its soluble fiber content. The rising health awareness and preference for preventive healthcare are fueling an increase in the consumption of nutritional supplements globally. This growing industry represents untapped opportunities for maltodextrin manufacturers to further expand their product offerings.
Rising Demand for Clean-label Ingredients Presents Lucrative Opportunities
With consumers demanding more transparency in ingredient labels, clean-label products are gaining tremendous popularity. Maltodextrin manufacturers have an opportunity to come up with clean-label, natural variants of maltodextrin produced from non-GMO sources like tapioca, potatoes, etc. This will help expand maltodextrin's application range in the clean-label driven food industries such as baby food, organic products, etc. Investment in innovative processing techniques to develop clean-label maltodextrin derivatives can be highly lucrative for manufacturers in the coming years.
Link: https://www.coherentmarketinsights.com/market-insight/maltodextrin-market-2441
Key Developments
- In 2022, Cargill inaugurated a new maize wet mill in Pandaan, Indonesia, to address the increasing demand for starches, sweeteners, and animal feed in Asia and Indonesia. This facility manufactures maize starches that are converted into high-value specialty products such as maltodextrin, sorbitol, and glucose. These products are then distributed to more than 40 countries across Asia and Africa, including Egypt, Japan, the Philippines, India, South Africa, Australia, and Vietnam.
- In 2021, Cargill introduced a new product: a maltodextrin substitute made from rice flour. This innovative alternative is designed to replace wheat and gluten in consumer diets, providing a suitable option for those with dietary restrictions or preferences.
- In 2021, Cargill formed a strategic partnership with Starpro, the foremost producer of food-grade tapioca starch in Thailand. This collaboration aims to enhance Cargill's specialty tapioca starch offerings throughout the Asia Pacific region. The partnership is designed to support the processing needs of food manufacturers while also addressing the sensory expectations of consumers in the area.
Key Players
Gulshan Polyols Ltd., Grain Processing Corporation, Cargill, Inc., Archer Daniels Midland Company (ADM), Ingredion Incorporated, Roquette Frères, Tate & Lyle PLC, Emsland Group, Nissin Sugar Co., Ltd., SÜDZUCKER AG, S. M. S. Food Products, Agropur Cooperative, Beneo GmbH, China Starch Holdings Limited, Spac Starch Products, Bio-chem Technology Group Company Limited, KMC Ingredients, American Key Food Products, Nature's Way Products, LLC, and B&G Foods, Inc.
