Dextrose Market Size, Share & Industry Analysis, By Form (Crystalline, Powdered, Liquid), By Application (Food & Beverage, Pharmaceuticals, Cosmetics & Personal Care Products) And Regional Forecast, 2024-2032

Dextrose is a type of simple sugar and is the d-isomer of glucose, obtained from corn. Dextrose is widely used in food and beverages as a sweetener and it also helps in extending the shelf life of food products. The utilization of dextrose by the food and beverage manufacturers as an emulsifier, sweetener, binder, and thickening agent helps the market to grow. The addition of dextrose in alcoholic beverages like low-calorie beers and specialty beers accelerates the fermentation process, thus gaining strong traction among the beverages market.

Dextrose has wide applications across pharmaceuticals and personal care industries apart from the food and beverage industry. It is used as a binder in the pharmaceutical industry as it is added in tablet formulations to impart cohesiveness to powders and in syrups containing various amounts of sugars. Thus, the growing pharma industry along with the increasing technological advancements have resulted in the increased demand for dextrose in the market.

Consumer’s increasing demand for natural sweeteners has led to the wide incorporation of plant-based sweeteners by beverage manufacturers. The rapidly increasing demand for soft-drinks and juices in the countries such as India, China, Japan, Malaysia, and others has contributed in the increasing utilization of dextrose.

The fluctuations in raw material prices mainly corn owing to the seasonal variations pose a major restraint in its market growth. According to the US Department of Agriculture (USDA), the corn prices have fallen in 2020 owing to the COVID-19 pandemic along with the persistent cold weather and rainfalls in the U.S. This has led to planting delays and is predicted to reduce the yields and lower supplies.

Key Players Covered:

The key companies operating in the global dextrose market are, Cargill, Inc., Archer Daniels Midland Company,
ASR Group International, Inc., Ingredion Incorporated, Roquette Freres S.A., Tereos SCA, Global Sweeteners Holdings, Fooding Group Limited, Avebe Group, and Gulshan Polyols Ltd.

The powdered form dextrose is likely to hold the major share in the market owing to its convenient storage and transportation ease. The powdered dextrose is widely used in bakery products as it controls crystallization in icing and glazes along with promoting fermentation and tenderness.

The food and beverage segment is anticipated to have a larger share in the market as dextrose is widely utilized as a sweetener and flavor enhancer in confectionery items such as candies, gums, pastries, and others. The confectionery application helps in bringing out the flavors, provides a light cooling effect, and balances the sweetness of the end-product. Further, the increasing demand for confectionery products across the world is expected to boost the dextrose market.

Regional Analysis:

North America is anticipated to account for the major share in the market owing to the large production of corn and its derived products in the region. The U.S. is the largest producer of corn in the world which ensures the abundant raw material availability for the production of dextrose. Along with this, the increase in consumption of confectionery products owing to the consumers growing inclination towards sweet tooth is expected to positively boost the regional market growth.

Asia Pacific is likely to observe the fastest growth in the market owing to the rise in demand for multifunctional sweeteners and the large availability and affordability of corn starch. The rapidly expanding pharmaceuticals and food industry in countries like India and China has led to an increase in the consumption of dextrose. Further, the increasing demand for energy drinks, which contain a significant amount of dextrose has also supported the regional market growth.

Segmentation

Key Industry Developments

• In April 2018, Archer Daniels Midland Company invested US$ 123.5 million on its Bulgarian maize processor and starch producer company to expand its plant in Northern Bulgaria. The investment by the company will increase the production of sweeteners such as glucose, fructose and dextrose.


• In January 2018, Cargill, Inc. and ARASCO in a joint venture, has started a new corn milling facility - The Middle East Food Solutions Co. (MEFSCO Corn Milling Facility) to cater the growing demand from the region’s food and beverage industry.