(Food-Beverage-News.Com, April 05, 2023 ) According to a research report "Dextrose Market by Type (Anhydrous, Monohydrate), Form (Solid, and Liquid), Application (Food & Beverages, Pharmaceuticals, Personal Care Products, Paper & Pulp Products, Agricultural Products), Functionality and Region - Global Forecast to 2027" published by MarketsandMarkets, the market for Dextrose is estimated at USD 5.9 billion in 2022; it is projected to grow at a CAGR of 7.8% to reach USD 8.6 billion by 2027.
The growth of the dextrose market is driven by the increased use of sweeteners, especially in the regions like Asia Pacific and North America. Additionally, Major food & beverage companies are expected to increase the application of dextrose due to its multiple benefits, including its role as sweeteners, binders, emulsifiers, and thickening agents. Currently, countries in Asia dominate the global dextrose (syrup and solid) market, in terms of volume consumed. The major market players, including ADM (US) and Cargill (US), are expected to devise and adopt diverse strategies to strengthen their positions in the rapidly growing dextrose market.
The anhydrous segment by type is projected to achieve the first highest CAGR growth in the dextrose market.
The demand for anhydrous dextrose is expanding globally due to its long shelf-life and sweet taste. It is often produced in crystalline form, making it simple to use, store, and transport. Furthermore, anhydrous dextrose is the most popular type of dextrose because it is easier to incorporate into the production process as an ingredient.
Personal care products by application is projected to account for the highest CAGR growth in the dextrose market during the forecast period.
Personal care products use dextrose as anti-caking agents to prevent products from clumping and binding together. In cosmetics and personal care products, dextrose is also used as a humectant in the formulation of bath products, cleansing products, eye makeup, skin care products, makeup, and hair care products. Since the beauty and personal care industry is booming, a potential increase in the usage of dextrose in skincare, hair care, makeup, and bath products raises the demand.
The solid form of dextrose is projected to account for the highest CAGR growth in the dextrose market during the forecast period.
The solid form of dextrose is largely preferred by manufacturers of food & beverages, animal nutrition products, dietary supplements, and personal care products due to various reasons. The dry form can be blended in both dry and wet products, according to the requirement. The solid form of dextrose is characterized by better stability and ease of handling & storage. The market for solid forms of dextrose is quite favorable in the North American region. Key players in this region, such as Cargill, are introducing new and innovative products in the market for various consumer requirements.
Asia Pacific is projected to achieve the Highest CAGR growth in the dextrose market.
In the Asia Pacific region, China is the leading market for dextrose due to its large consumer base and the rising income levels of consumers. The food industry in the Asia Pacific region is huge, and it is thus an important component of the region’s economic development prospects. The processed food market in the Asia Pacific region has been experiencing growth over the past few years owing to the changing lifestyles and food habits of the population. The recession might affect the production cost, labor shortage, and supply chain disruption. However, the dextrose market will have high demand due to its various industrial applications.
Key Market Players
The key players in this market include Cargill Incorporated (US), ADM (US), Ingredion (US), Agrana (Austria), Tate & Lyle (UK), Roquette Frères (France), Avebe Group (The Netherlands), Tereos (France), Gulshan Polyols Ltd (India), Belgosuc NV (Belgium), Fooding Group Limited (China), Foodchem International Corporation (China), Grain Processing Corporation (US), Uniglad Ingredients UK Ltd (UK), Now Foods (US). These players in this market are focusing on increasing their presence through agreements and collaborations. These companies have a strong presence in North America, Asia Pacific and Europe. They also have manufacturing facilities along with strong distribution networks across these regions.
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