Maltodextrin Market Size
Maltodextrin Market size was valued at USD 3.26 billion in 2023 and is anticipated to grow a CAGR of over 4.6% between 2024 and 2032. The market continues to exhibit steady growth globally, primarily driven by its widespread applications across various industries such as food and beverage, pharmaceuticals, and cosmetics.
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The food and beverage sector remains the largest consumer due to maltodextrin's versatile properties as a thickening agent, stabilizer, and filler in processed foods and beverages. The market is witnessing increased demand owing to the rising consumption of convenience and functional foods.
|Market Size in 2023:
|USD 3.26 Billion
|2024 to 2032
|Forecast Period 2024 to 2032 CAGR:
|2032 Value Projection:
|USD 4.70 Billion
|Historical Data for:
|2018 – 2023
|No. of Pages:
|Tables, Charts & Figures:
|Source, Grade, Application & Region
|Pitfalls & Challenges:
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However, challenges persist, including fluctuating raw material prices, evolving regulatory landscapes, and consumer concerns regarding health implications. Manufacturers are increasingly focusing on developing organic and non-GMO variants to cater to health-conscious consumers. Moreover, the market faces competition from alternative ingredients and substitutes, compelling companies to innovate, diversify, and emphasize sustainability practices to maintain market share and meet evolving consumer demands.
The COVID-19 pandemic significantly impacted the maltodextrin market, initially experiencing disruptions in the supply chain due to restrictions on movement, labour shortages, and logistical challenges. While the food and beverage sector remained relatively resilient, the closure of restaurants, cafes, and reduced out-of-home consumption affected the demand for maltodextrin in certain applications. However, the increased consumer inclination towards packaged and shelf-stable foods during lockdowns positively influenced the market, driving demand for processed and convenience food products containing maltodextrin as a key ingredient.
The pharmaceutical industry's demand for maltodextrin remained stable owing to its use in pharmaceutical formulations. As the situation gradually stabilized and economic activities resumed, the market showed signs of recovery, with manufacturers focusing on adapting to new consumer behaviour’s and emphasizing safety measures within their operations to mitigate future disruptions.
Maltodextrin Market Trends
Increased consumer awareness and demand for clean-label and natural products are steering manufacturers toward developing organic and non-GMO maltodextrin variants, catering to health-conscious preferences. Moreover, the rising consumption of functional and fortified foods has expanded the application scope of maltodextrin in the food and beverage industry, with a focus on its role as a texture enhancer, stabilizer, and thickening agent.
The market is witnessing technological advancements aimed at improving production processes to ensure higher quality and purity of maltodextrin. Additionally, sustainability concerns are driving innovation towards eco-friendly sourcing and production methods, aligning with consumer expectations for environmentally responsible practices. As the market continues to evolve, customization and product diversification to meet specific industry requirements and expanding applications are becoming crucial strategies for companies to maintain a competitive edge.
Maltodextrin Market Analysis
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Based on source, the corn-based maltodextrin segment held over 44.6% of the market share in 2023. Corn-based maltodextrin's supremacy can be attributed to its widespread availability, cost-effectiveness, and versatile applications across various industries, especially in the food and beverage sector. Wheat-based maltodextrin follows, holding a substantial market share due to its functional properties and diverse applications.
Potato-based and cassava-based maltodextrin collectively hold a smaller but notable share, prized for their specific attributes and suitability for niche applications. Other sources, such as tapioca or rice-based maltodextrin, contribute to the market but typically hold a smaller segment of the overall market share due to factors like limited availability or specific regional preferences. The market is dynamic, with ongoing shifts influenced by factors such as sourcing efficiencies, consumer preferences, and sustainability considerations.
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Based on grade, the food grade category segment recorded 69.6% of the maltodextrin market share in 2023. Food grade maltodextrin is extensively utilized in the food and beverage industry for its various functionalities such as thickening, stabilizing, and bulking properties, making it a primary choice for manufacturers across a wide range of products. The pharmaceutical grade maltodextrin follows, holding a significant but comparatively smaller market share, owing to its use in pharmaceutical formulations as a filler or binder in tablets or capsules.
The industrial grade maltodextrin segment, although important, holds a relatively smaller share compared to food and pharmaceutical grades, finding application in non-food industries like adhesives, papermaking, and textiles. The market continues to evolve with technological advancements and increased demand for specific-grade maltodextrin variants tailored to meet industry-specific needs.
Based on application, the maltodextrin market from food and beverages sector registered 64.3% of the revenue share in 2023. Its extensive use as a thickening agent, stabilizer, or bulking agent in various food and beverage products contributes significantly to this segment's prominence. The cosmetics and personal care segment follow, representing a notable but comparatively smaller market share, as maltodextrin finds applications as an absorbent or bulking agent in this industry.
In pharmaceuticals, it holds a considerable share due to its role as a filler or binder in tablet or capsule formulations. The daily and fine chemicals segment, along with other niche applications, collectively contributes to the market but typically holds smaller shares compared to the dominant food and beverages sector. The market's dynamism is driven by evolving consumer preferences, technological advancements, and the exploration of maltodextrin's functionalities in various industries, fostering innovation and diversification.
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North America maltodextrin market accounted for 34.3% of the revenue share in 2023. The U.S. holds a dominant position due to the widespread use of maltodextrin across diverse industries, prominently in the food and beverage sector. The region's market share is attributed to a robust food processing industry, where maltodextrin serves as a common additive for its functional properties.
Additionally, the U.S. pharmaceutical industry's demand for maltodextrin further contributes to the region's market share. The market is characterized by continuous product innovations, technological advancements, and a strong focus on meeting consumer demands for convenience and functional foods, driving the sustained dominance of North America, specifically the U.S., in the market.
Maltodextrin Market Share
Some of the major companies operating in the market are Grain Processing Corporation, Roquette Frères, Cargill, Incorporated, Ingredion Incorporated, Tate & Lyle PLC, Avebe among others. These companies focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these companies are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.
Maltodextrin Market Companies:
Major companies operating in the maltodextrin industry include:
- Grain Processing Corporation
- Roquette Frères
- Cargill, Incorporated
- Ingredion Incorporated
- Tate & Lyle PLC
Maltodextrin Industry News
- In September 2022, Cargill introduce a soluble corn fiber ingredient commercially next year, and Kemin Industries has introduced Shield Pure, a mold inhibitor that offers bakers a one-to-one replacement for synthetic mold inhibitors. Soluble corn fiber (SCF) is a type of fiber that's made from partially hydrolyzed corn starch.
The maltodextrin market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Million) & volume (Kilo Tons) from 2018 to 2032, for the following segments:
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Market, By Source
Market, By Grade
- Food Grade
- Pharmaceutical Grade
- Industrial Grade
Market, By Application
- Food and Beverages:
- Baked Goods
- Dairy Products
- Convenience Foods
- Excipient in Drug Formulations
- Nutritional Supplements
- Cosmetics and Personal Care:
- Skincare Products
- Haircare Products
- Industrial Applications:
- Coating and Encapsulation
- Animal Feed
- Fermentation Processes
The above information has been provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- South Africa
- Saudi Arabia
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