Posted on 31 May 2019
According to a new report by EMR titled, ‘LATAM Maltodextrin Market Report and Forecast 2019-2024’, the total LATAM maltodextrin production for the period 2017-2018 was approximately 105 kilo metric tons. With a 3% market share, the regional market added to the growth of the global market, which is projected to grow at a CAGR of 5% in the forecast period of 2019-2024, to attain 5 million metric tons in 2024.
The Latin America maltodextrin market is driven by its thriving beverage industry. The annual revenue of the Latin America and Caribbean beverage industry stands nearly at USD 17.7 million and represents 17.5% of the global beverage market. Rapid economic growth and improvements in Latin American countries will also aid the maltodextrin market in the region along with the simultaneous rise in the middle-class population. The Latin American GDP is projected to grow by 2.6% in 2020, more than the 2% growth rate expected this year. The expansion in these economies will also lead to the rise in the disposable incomes of the consumers. These developments will lead to a higher consumption of processed foods further propelling the maltodextrin market as the product finds extensive use in processed and instant foods like frozen foods, ready-to-eat products, and instant noodles, among others.
The rise in the middle-class population is also aiding the growth in the region’s cosmetics industry, a major end-use sector for maltodextrin after the food and beverage sector. Latin America comprised almost 11% of the global cosmetics industry in 2017, with Brazil, Colombia, and Chile being the significant beauty markets. Despite the recent economic slowdown, Brazil’s cosmetic industry has seen a robust growth and remains the leading market in the region. The beauty industry in the country accounts for nearly 1.8% of its GDP. Due to continuous product innovations and new launches, and the growing demand for biocosmetics, the maltodextrin market in this region is expected to see further growth due to the expansion of its application portfolio. Maltodextrin finds widespread use in the cosmetics sector in products like eyeliner, lipstick, lip liners, eyeshadow, mascara, moisturiser, and anti-ageing products, among others. It imparts various functional attributes and acts as an absorbent, binding agent, emulsion stabiliser, film-forming agent, and moisturiser in these products.
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Cargill, Incorporated, Archer Daniels Midland Company (ADM), Ingredion Incorporated, Tereos S.A, Roquette Frères, Tate & Lyle PLC, and The Agrana Group are the key players in the Latin America maltodextrin market as identified by the EMR report. The report takes an in-depth look into their market share, production capabilities and latest developments like plant turnarounds, capacity expansions, and mergers and expansions.
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