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Functional Carbohydrates Market is Generating Revenue of $5,314.2 Million by 2026
Functional Carbohydrates Market
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Increase in awareness regarding functionalities of carbohydrates among consumers, rise in usage in the cosmetic industry, and widespread industrial applications drive the growth of the global functional carbohydrates market. However, surge in final prices of functional food & beverages and availability of substitutes hinder the market growth. On the other hand, rise of the pharmaceutical industry worldwide and growing innovation for formulating products create opportunities in the industry.
Based on type, the isomalt segment held the largest share in the global functional carbohydrates market in 2018, contributing more than one-fourth of the total market share, and is estimated to maintain its lead status throughout the forecast period. This is due to wide application as bulking agent, glazing agent & anticaking agent, and sweetener in food & beverages. On the other hand, the cyclodextrin segment is expected to grow at the highest CAGR of 6.1% from 2019 to 2026, owing to wide applications in pharmaceutical and food industries along with usage as critical ingredient in cosmetics as anti-aging product.
Based on application, the food & beverage segment contributed nearly half of the total share of the global functional carbohydrates market in 2018, and is projected to contribute its lion's share during the forecast period. This is due to rise in usage of isomalt, cyclodextrin, and palatinose in wide applications in the food & beverages industry as sweetener, gel agent, stabilizer, emulsifier, and others. Contrarily, the cosmetics & personal care segment would register the largest CAGR of 5.7% from 2019 to 2026, owing to increase in demand for usage as a solubilizing agent, covering unpleasant odor, prevention of skin irritation, and protection against heat, light and oxidation.
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Leading Market Players
o Beneo GmbH
o Wacker Chemie AG
o Cargill, Incorporated
o Evonik Industries AG
o Roquette Frères
o Sanxinyuan Food Industry Corporation Limited
o Haihang Industry Co., Ltd.
o Fraken Biochem Co. Ltd.
o Zibo Qianhui Biological Technology Co., Ltd.
o Foodchem International Corporation
Europe held the major market share in the global functional carbohydrates market in 2018, accounting for more than one-third of the total market share, and is estimated to maintain the highest market share during the forecast period. This is due to increase in several health concerns such as diabetes and heart attacks and preference for healthy lifestyle. North America would contribute the second-highest market share by 2026 in the global functional carbohydrates market. On the other hand, LAMEA is expected to portray the highest CAGR of 6.4% from 2019 to 2026, owing to high demand for personal care products & cosmetics in the region.
Key Findings of The Functional Carbohydrates Market:
o Based on type, the Isomalt and Palatinose segment accounted for the highest share in 2018, growing at a CAGR of 4.7% and 4.9% respectively from 2019 to 2026.
o Based on application, the food & beverages segment accounted for about 46% of the functional carbohydrates market share in 2018 and is expected to experience growth at a CAGR of 5.6%.
o Based on region, Europe accounted for about 37% of the market share in 2018 and is expected to grow at a CAGR of 5.0%.
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