Rise in Demand for Convenience Food Drives the Glucose, Dextrose, and Maltodextrin Market

Northbrook, IL, USA, 2019-Nov-5 — /EPR Network/ — The report “Glucose, Dextrose, and Maltodextrin Market by Product (Glucose, Dextrose, and Maltodextrin), Application (Food & Beverages (Confectionery, Bakery, Dairy), Pharmaceuticals, Personal Care Products, Paper & Pulp), and Region – Global Forecast to 2024″, The glucose, dextrose, and maltodextrin market is estimated at USD 34.47 Billion in 2018. It is projected to reach USD 51.87 billion by 2024, at a CAGR of 7.0% from 2018, in terms of value. The market is driven by the increase in demand from the beverage industry, intense research & development activities, and increase in demand for convenience foods. The demand for glucose, dextrose, and maltodextrin in the food & beverages segment is expected to witness significant growth in the near future, as major food & beverage companies are expected to increase the application of glucose, dextrose, and maltodextrin due to their multiple benefits, including their role as sweeteners, binders, emulsifiers, and thickening agents.

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Rise in demand for beverages

Glucose and maltodextrin are widely used as sweeteners. The demand for cereal sweeteners is backed by the development of the soft drinks industry. The demand for soft drinks is rapidly increasing in the developing markets of Asia Pacific and South America. Although juices and aerated drinks can be sweetened by using saccharose sugar or low-calorie syrups, fructose and glucose syrups are generally preferred. This is due to the price effectiveness of glucose syrups and dextrose and technical properties such as enhancement of viscosity and visual appearance of the food items.

The growth of the beverage industry is mainly attributed to the increase in disposable income of consumers in developing regions such as Asia Pacific and South America. Since the economy is improving in these regions, the consumption capacity of consumers has increased, which has led to a rise in demand for aerated drinks—such as soft drinks and carbonated drinks—and non-aerated drinks.

Furthermore, the demand for maltodextrin is expected to increase over the next six years as it is used as a thickening and filling agent in beverages and is one of the key elements in sports drinks. In the North American region, there is a high demand for maltodextrin for sports drinks. The increasing health-consciousness among consumers is one of the major factors driving the demand for health drinks, which subsequently drives the growth of the maltodextrin market.

The glucose segment is expected to dominate the glucose, dextrose, and maltodextrin market through 2024.

In 2017, the glucose segment accounted for a larger share, by product, in the glucose, dextrose, and maltodextrin market, in terms of value. Glucose, in the form of syrup and solids, has a high water binding capacity, is fermentable, and prevents sugar crystallization. It is used as a texturant, volume enhancing agent, and flavorant, and also helps in the prevention of crystallization of sugar molecules in beverages. The growth of the food & beverage industry, especially in the confectionery products sector, increases the demand for glucose. Further, increasing demand for aerated and non-aerated beverages drives the demand for glucose syrup, as it is widely used as a sweetener in these beverages.

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Asia Pacific is projected to be the fastest-growing regional market for glucose, dextrose, and maltodextrin.

The Asia Pacific region is projected to be the fastest-growing market for glucose, dextrose, and maltodextrin over the next six years, owing to an increase in overall economic growth, with diversity in income levels, technology, and demand from end consumers for better quality food products, leading to enhanced scope for future growth. The main countries contributing significantly toward the growth of the market in this region include China, India, and New Zealand. The rapidly growing convenience food and personal care industries in the Asia Pacific region have led to an increase in the consumption of glucose, dextrose, and maltodextrin products.

In this region, countries such as China and India are estimated to account for a major share of the market. Thailand is projected to be one of the fastest-growing markets for glucose, dextrose, and maltodextrin in the Asia Pacific region.

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