Significant demand from the food and beverage sector, particularly in the emerging economies, continues to remain instrumental in driving sales of maltodextrin. Being a food additive, this polysaccharide has witnessed a steady traction across a wide range of applications including but not limited to cosmetic products, powdered drinks and desserts. Moreover, on the back of growing health awareness, demand for health drinks is expected to increase in the coming years, in turn paving potential growth pathways for maltodextrin manufacturers. According to FMI, the demand for maltodextrin is likely to expand at steady pace with its sales to cross a US$ 3 Bn milestone by 2020.
Maltodextrin sales are significantly influenced by its growing adoption in the pharmaceutical, paints, cosmetics, adhesives and paper industries. According to the report, the use of maltodextrin in cosmetic and pharmaceutical applications is rising, as manufacturers are focusing on reformulations using maltodextrin to enhance their product quality and performance along with achieving economic production. This aspect coupled with growing pharmaceutical and cosmetic industry worldwide, is expected to provide an impetus to the maltodextrin market during the forecast period, 2015-2020.
Rising inclination of consumers toward GMO-free products is likely to push the demand for maltodextrin. Potential health impact of GMO starches has raised concerns regarding health problems. Against this backdrop, manufacturers are compelled to include organic and natural ingredients in their food products. This is likely to invigorate higher spending on research and development in the food ingredients space to promote well-being and health as well as enhance the shelf life of food products. As a consequence, sales of GMO-free maltodextrin are expected to increase at a substantial rate in the forthcoming years, in turn contributing to the growth of the maltodextrin market.
In addition, sales of maltodextrin in the veterinary healthcare space has also been resurgent, says the report. While the food and beverage industry continues to create unremitting demand for the polysaccharide, maltodextrin use in animal feed is likely to witness an upswing. Largely used as food premix to enhance nutritional value of livestock feed, maltodextrin sales have been gaining a noteworthy push from this sector. Maltodextrin is also increasingly used as excipient for medical tablets and as spray drying carrier for products such as skimmed milk powder, beverage mixes, ready mixes, infant formulas and instant soup.
Properties of maltodextrin such as superior tolerance to high temperatures, low moisture, high solubility and bland flavor have pushed the preference quotient of maltodextrin as a loftier wall material especially for encapsulation of several oils, fats, and food acids. This aspect is expected to auger well for the growth in sales of maltodextrin as a preferred encapsulation agent across a cohort of industries.
Demand for maltodextrin in the bakery industry and HoReCa sector has remained steady since the past years. According to the report, the application of maltodextrin, especially its GMO variant, in these sectors is expected to increase substantially. Low calorie artificial sweeteners are used by manufacturers in bakery and packaging industries. Use of maltodextrin as a bulking agent on the back of rising demand for low calorie artificial sweeteners is likely to present lucrative growth opportunities in the coming years.
Sales of maltodextrin are likely to remain concentrated in the developed countries of North America such as the United States, particularly in the food and beverage and pharmaceutical applications. However, immense potential from Asia Pacific region is in the offing, creating potential avenues for maltodextrin use. The report foresees that the demand for maltodextrin is projected to expand at a CAGR of 5.5% in terms of value during the 2015-2020 timeline
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