New York, USA, June 06, 2022 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global dextrin market is expected to gather a revenue of $3,538.00 million by 2028 and grow at a CAGR of 3.60% over the forecast period from 2021-2028. The extensive report provides a concise layout of the dextrin market’s current framework including prime aspects of the market such as growth elements, challenges, restraints and various opportunities during the predicted timeframe of 2021-2028. The report also provides all the market figures to help new participants analyze the market easily.
Dynamics of the Market
Drivers: The several health benefits of dextrin like helping in muscle gain, providing quick energy for athletes, and lowering blood sugar levels along with its growing prevalence in the healthcare and pharmaceutical industry are some factors estimated to drive the growth of the global dextrin market during the forecast years. In addition, strategic alliances by key market players is also anticipated to boost the market growth by 2028.
Opportunities: The growing demand for dextrin in the textile industry to provide strength and stiffness to textile fabrics is predicted to offer abundant growth rate for the global dextrin market during the 2021-2028 forecast period.
Restraints: Side effects of excessive consumption of dextrin is projected to hinder the market growth during the analysis timeframe.
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Covid-19 Impact on the Dextrin Market
The covid-19 pandemic has had a moderate effect on the global dextrin market due to its decreased demand from textile and pharmaceutical industries. This led to reduced production and supply of dextrin along with shut down of several manufacturing units due to strict lockdown restrictions. Moreover, to curb the spread of the virus and treat affected people, most medical industries focused on producing only vaccines that further disrupted the market development. However, several organizations are working together dedicatedly to support people amid the pandemic stress by delivering essential food items. This factor is anticipated to revive the market growth post the catastrophic chaos.
Segments of the Market
The report has fragmented the dextrin market into a few segments based on type, application, and regional analysis.
Type: Maltodextrin Sub-segment to be Most Dominant
The maltodextrin sub-segment is estimated to have the largest market share and garner a revenue of $1,836.60 million during the analysis period. Maltodextrin is mostly extracted from rice, potato, and corn and is declared as the best fast-digesting carbohydrate by one of the Healthline’s article. Moreover, maltodextrin supplements are beneficial for maintaining anaerobic power during exercise. These factors are expected to bolster the sub-segment’s growth by 2028.
Application: Food Sub-segment to be Most Lucrative
The food sub-segment of the global dextrin market is predicted to have the fastest growth rate and generate $1,242.50 million during the analysis years due to the growing demand for dextrin sources like corn, wheat, potato, etc. Moreover, dextrin’s high consumption in bakery, dairy, confectionary, etc. as a thickening agent is also projected to propel the sub-segment’s growth by 2028.
Region: Market in the Europe Region to Have the Fastest Growth Rate
The dextrin market in the Europe region is estimated to have a noteworthy growth rate of 4.50% CAGR during the 2021-2028 forecast period due to the rising demand for wheat dextrin by the food industry for food finishing. Moreover, Germany and Netherlands are the most leading countries in the overall market revenue, thus further augmenting the market growth in the Europe region by 2028.
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Key Market Players
Some key dextrin market players include
- Ingredion Incorporated
- Cargill, Inc.
- Roquette Frères S.A
- Emsland Group
- Meelunie B.V
- Archer Daniels Midland Company
- Avebe
- Agridient Inc.
- Tate & Lyle
- American Key Products, Inc., among others.
These key players are undertaking various strategies such as product development and enhancement, merger and acquisition, partnerships and collaborations to sustain the market growth. - Inquire Here for key manufacturers' development strategic report
For example, in May 2021, Hershey, an American company and the world’s largest chocolate manufacturer, announced its decision to acquire Lily’s Sweets, a fast-growing ‘no-sugar added’ chocolate brand, to enhance its reduced-sugar product portfolio adding the latter’s dextrin, inulin, and stevia-extracted sugar.
The report also summarizes many important facets including financial performance of the key market players, SWOT analysis, product portfolio, and the latest strategic developments.
Frequently Asked Questions
Q1. What is the size of the global dextrin market?
Q2. Which are the major companies in the dextrin market?
Q3. Which region, among others, possesses greater investment opportunities in the near future?
Q4. What will be the growth rate of the Asia-Pacific Dextrin market?
Q5. What are the strategies opted by the leading players in this market?
More about Dextrin Market:
- Global Dextrin Market to Undergo Outstanding Growth with Rising Applications of Dextrin in Food Products
- What are the Different Types of Dextrin and How Are They Used in Various Industries?
