Posted on 30 May 2019
According to a new report by EMR titled, ‘Asia Pacific Maltodextrin Market Report and Forecast 2019-2024’, the maltodextrin production in the Asia Pacific region stood at 1.65 million metric tons for the period 2017-2018. The regional market will promote the global maltodextrin market growth, which is projected to grow at a CAGR of nearly 5% in the forecast period of 2019-2024.
Maltodextrin is a polysaccharide obtained through the partial hydrolysis of starch and imparts a starchy texture and slightly sweet flavour to food and beverages. The Asia Pacific maltodextrin market is being driven by the rising demand for convenience foods and packaged products and accounted for nearly 20% of the global consumption. China is a major supplier and accounts for more than 30% of the world’s total maltodextrin production. India, too, is a significant market in the region. The thriving food and beverages, and cosmetics industries in these two countries are aiding the market growth.
With the rise in the middle-class population, people are increasingly seeking out luxury and premium products. Skin care and hair care products are the major segments in the cosmetics and personal care sector where maltodextrin is utilised, with usage in hair colours witnessing a robust growth. The rising demand for cosmetics will provide further impetus to the maltodextrin market growth where it extensively serves as a moisturising, conditioning, and binding agent, and as an absorbent. The recent trend and preference of consumers for organic and naturally derived ingredients is also bolstering the maltodextrin industry.
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With increasing consumer apprehension towards genetically modified products, maltodextrin manufacturers are actively working on developing and launching non-GMO products. In 2018, Archer Daniels Midland Company (ADM) partnered with Hong Kong-based Vedan International to launch a non-GMO tapioca maltodextrin. Tate and Lyle, another major maltodextrin company, announced that it is expanding the production line capacity for non-GMO ‘MALTOSWEET’ maltodextrin at its facility in Boleraz, Slovakia. This expansion is the result of the rising demand for food-grade maltodextrin, especially for use in infant food and formula in the Asia Pacific region.
Market Analysis by Applications, Regions, and Feedstock:
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The key players in the APAC maltodextrin market are Cargill, Incorporated, Archer Daniels Midland Company (ADM), Ingredion Incorporated, Tate & Lyle PLC, Matsutani Chemical Industry Co., Ltd., Shandong Xiwang Group Co., Ltd., Global Sweeteners Holdings Limited, Roquette Riddhi Siddhi Pvt. Ltd., Shandong Fuxin Biotechnology Co., Ltd., Zhucheng Dongxiao Biotechnology Co., Ltd, and Gulshan Polyols Ltd., among others. The EMR report provides comprehensive analysis of their capacity, market share, and latest developments in the industry like mergers and acquisitions, capacity expansions, and plant turnarounds.
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