Dextrin Market Growth, Share, Analysis, Company Profiles and Forecast

According to the report published by Allied Market Research, the global dextrin market garnered $2.78 billion in 2020, and is projected to reach $4.03 billion by 2030, witnessing a CAGR of 3.4% from 2021 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

Wide range of applications, rise in consumer preferences for clean labels and high nutritional food products, and demand for convenience food fuel the growth of the global dextrin market. However, availability of substitutes hinders the market growth. On the other hand, innovations in organic dextrin and demand for resistant dextrin provide new opportunities in the coming years.

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Dextrin is a general term for substances that have been polymerizedby glycosidic bonds of several alpha-glucose molecules. Dextrins are a type of starch, and as the name suggests, indigestible dextrin resists digestion. The FDA has approved indigestible dextrin which has been used as an ingredient in foods for a long time, as an ingredient that is so safe that there is no need to establish a daily intake limit. Additionally, Japan's Ministry of Health, Labour and Welfare has approved the labeling of certain functions as a "Food for Specified Health Use" and acknowledges the safety of indigestible dextrin. Thus, it favor the growth of the product market during the forecast period.

Consumer spending on luxury food items is growing rapidly, and fast food, bakery products, ice creams, and other such lifestyle food products are witnessing increased popularity. Rapid growth of the food and beverage industry and changing food habits of the people are encourage food manufactures to launch non allergic and high nutritional food is further accelerate the dextrin market growth.

Growing awareness regarding the health benefits of the dextrin and advantages of dextrin in cosmetic and pharmaceutical industries are expected to increase the demand for dextrin during forecast period. For instance, Wheat dextrin, which is extracted from wheat starch, helps lower cholesterol, blood sugar and reduce risk for heart disease.

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The outbreak of COVID-19 has largely and negatively impacted dextrin market. This is attributed to the lockdown implemented across various countries, which has hampered food processing and other processing industries. The pandemic is having a profound impact on the world, and is still affecting many parts of the world. Cosmetic, paper industries and other industrial processing companies are heavily impacted due to lockdown, which in turn hampered the growth of the product market in COVID-19 period.

According to the dextrin market analysis, the product market is segmented into type, application, and region. On the basis of location, the market is categorized into local or regional travel and interstate travel. On the basis of type, the market is categorized into Maltodextrin, Cyclodextrin, Amylodextrin and Others. By application, it is bifurcated into Food, Pharmaceutical, Industrial, Cosmetics and Others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy and Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East and Africa).

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Based on region, Asia-Pacific contributed to the highest share in 2020, holding more than one-third of the total share, and is expected to continue its lead position by 2030. However, LAMEA is estimated to portray the highest CAGR of 5.5% during the forecast period.

Leading players of the global dextrin market size analyzed in the research include Agridient Inc., Archer-Daniels-Midland Company (ADM), American Key Products, Inc., Emsland Group, Cargill Inc., Meelunie B.V, Ingredion Incorporated, Roquette Frères, Puris, and TATE & LYLE PLC.

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