Increase in demand for convenience food, surge in demand for dextrin in industrial applications, versatile application of dextrin, and rise in consumer preference for clean label and high nutritional food products drive the global dextrin market.
Allied Market Research published a research report on the dextrin market. The findings of the report state that the global market for dextrin generated $2.78billion in 2020, and is expected to garner $4.03 billion by 2030, witnessing a CAGR of 3.4% from 2021 to 2030.The report offers valuable information on evolving market trends, major segments, top investment pockets, and key competitors for market players, investors, shareholders, and new entrants.
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Roshan Deshmukh, the Assistant Manager, Food and Beverages at Allied Market Research, outlined, “Increasing demand for functional food and beverages and rapid growth of industrialization especially in emerging economies are likely to surge the demand for dextrin. Growing awareness regarding the health benefits of the dextrin content food such as assist in digestive issues, help maintain homeostasis in your stomach and maintain healthy blood sugar levels are further accelerating the growth of the market.”
The report provides a detailed analysis of market drivers, restraints and opportunities to assist market players to strategize and capitalize on new opportunities. Increase in demand for convenience food, surge in demand for dextrin in industrial applications, versatile application of dextrin, and rise in consumer preference for clean label and high nutritional food products drive the global dextrin market. On the other hand, availability of numerous substitutes impedes market growth. However, surge in demand for resistant dextrin and innovation in organic dextrin present new opportunities in the upcoming years.
The research offers an extensive scenario of Covid-19 along with outlining its impact on the dextrin market across the world. Due to the disturbing food and beverage industry because of lockdown measures and the closure of manufacturing facilities, the dextrin market incurred losses, during the early stages of the Covid-19 pandemic.Due to the lockdown and the lack of a labor, industrial operations were also disrupted.This affected the demand for dextrin.However, once regular operations resume, demand is projected to grow throughout the post-lockdown period.
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The report offers detailed segmentation of the global dextrin marketbased on type, application, and region. These insights are helpful for new as well as existing market players to capitalize on the fastest growing and largest revenue-generating segments to accomplish growth in the future.
Based on type, the maltodextrin segment dominated the market share in 2020, accounting for more than half of the total share, and is expected to continue its lead in terms of revenue during the forecast period. The amylodextrin segment, however, is anticipated to grow at the highest CAGR of 4.8% from 2021 to 2030.
Based on application, the industrial segment held the lion’s share in 2020, contributing tomore than one-fourth of the global dextrin market, and is expectedto maintain its dominant share during the forecast period. However, the cosmetics segment is projected to manifest the fastest CAGR of 4.3% from 2021 to 2030.
Based on region, Asia-Pacific held the largest market share in 2020, accounting for more than one-third of the total share, and is anticipated to continue its lead position by 2030. However, LAMEA is estimated to portray the highest CAGR of 5.5% during the forecast period.
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Leading players of the global dextrin market analyzed in the research include American Key Products, Inc., Archer-Daniels-Midland Company (ADM), Roquette Frères, Emsland Group, Agridient Inc., Cargill Inc., Ingredion Incorporated, Meelunie B.V, Puris, and TATE & LYLE PLC.
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