New York, USA, Aug. 23, 2023 (GLOBE NEWSWIRE) -- Dextrose Market Analysis
Market Research Future (MRFR) 's report highlights “Dextrose Market Information By Type, Form, Source, Application, And Region - Forecast till 2030"; the market will achieve USD 505.624 billion in 2030 at a 3.7% CAGR.
Drivers
Increasing Use in Dairy Industry to Boost Market Growth
The dairy business uses dextrose extensively. When used to balance sweetness in dairy & fermented sweets, dextrose extends shelf life. Dextrose is added to ice cream and sorbet to prevent sucrose from recrystallizing, which improves the texture and mouthfeel of the dessert. To control the overall sweetness of milk drinks (flavors like chocolate or others), dextrose is regularly combined with other sugars.
Opportunities
Burgeoning Demand from Personal Care Industry to offer Robust Opportunities
Dextrose is used in personal care products like anti-caking agents to stop the clumping and binding of the ingredients. Dextrose is also utilized as a humectant in the creation of bath and cleaning goods, makeup, skin care, and hair care items for use in cosmetics & personal care products. Dextrose may be used more frequently in the skincare, hair care, cosmetics, and bath products as a result of the rising personal care and beauty market.
Restraints and Challenges
Rising Application of Gums to act as Market Restraint
The rising application of gums and fluctuating raw material cost may act as market restraints over the forecast period.
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Report Scope:
| Report Attribute | Details |
| 2030 Market Size | USD 505.624 billion |
| CAGR | 3.7% (2022-2030) |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2018- 2020 |
| Forecast Units | Value (USD billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Form, Source, Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Surging Demand For Dextrose From Various End-Use Industries |
Key Players
Eminent market players profiled in the dextrose market report include –
- Cargill Incorporated (US)
- Ingredion Incorporated (US)
- Archer Daniels Midland Co (ADM) (US)
- Tate & Lyle (UK)
- Tereos (France)
- AGRANA Beteiligungs-AG (Austria)
- Roquette Freres (France)
- Fooding Group Limited (China)
- Gulshan Polyols Ltd. (India)
- Foodchem international corporation (China)
Market Segmentation
The global dextrose market is bifurcated based on application, source, form, and type.
By type, dextrose monohydrate will lead the market over the forecast period.
By form, crystalline will domineer the market over the forecast period.
By source, corn will spearhead the market over the forecast period.
By application, food will command the market over the forecast period.
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COVID-19 Analysis
The need for medical supplies & pharmaceuticals spiked in the early phases of the pandemic may have raised demand for dextrose. During the pandemic, the food and beverage industry encountered several difficulties, particularly in areas like confectionery & sports nutrition where dextrose is a common component. The demand for these goods may have been impacted by restaurant closures, fewer social events, and changes in consumer behavior.
Regional Analysis
APAC to Head Dextrose Market
The Asia Pacific will grow at a CAGR of 3.74% throughout the course of the study, reaching a market share of 38.7% in 2021. Government agencies are being forced to expand wheat sales in order to satisfy the rising demand for raw materials like wheat and maize used to make dextrose, which would in turn help the market flourish. The segment's segmental growth is projected to be influenced by the expanding expansion strategies that major companies have taken to broaden their product offerings and solidify their position in the Asia-Pacific region. In addition, the Asia-Pacific region's dextrose market in India grew at the fastest rate and had the largest market share.
Government agencies are being forced to expand wheat sales in order to fulfill the growing consumer demand for dextrose, which is driving up the cost of producing dextrose from raw materials like wheat and maize. For instance, the Centre approved a proposal to sell three million tons of wheat owned by government entities via the open market sale system (OMSS) in January 2023 in an effort to lower the country's extremely high wheat prices. This sale will take place over the course of the following two months via merchants, cooperatives, state governments, and federations at a reduced price of 2,350 per quintal. In addition, leading companies' expanding expansion strategies to broaden their product offerings and solidify their position in the APAC region are anticipated to support segmental growth.
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North America to Have Admirable Growth in Dextrose Market
The second-largest market for dextrose is in North America, which is also projected to increase at the quickest rate between 2022 and 2030, with a CAGR of 4.25%. Key companies who provide dextrose for a variety of applications, including bakery & confectionery, dairy products, beverages, culinary, meat, & many more, are present throughout the area, and their continued innovation is expected to hold a beneficial impact on the market's growth.
Additionally, the U.S. market had the biggest market share, while the dextrose market in Canada was expanding at the quickest rate in North America. For instance, the privately held international food company Cargill Incorporated provides services and goods to the food, agricultural, financial, and industrial sectors. The business provides dextrose under the bio-industrial goods category of starches and derivatives. It is readily accessible in powder form in either monohydrate or anhydrous form and is a well-liked ingredient & carrier for granulation of fermentation products.
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