The specialty carbohydrates market is projected to grow from USD 6,795 Million in 2023 to USD 10,822.7 Million by 2033, reflecting a compound annual growth rate (CAGR) of 5% during this period.
Dietary Supplements Control the Substantial Market Share
Dietary supplements are a key driver of growth in the specialty carbohydrates market. The rise in health-conscious consumers in developing countries like India, China, and Mexico is a major factor fueling this segment. Additionally, the increasing number of enrollments in fitness centers and gyms is contributing to higher sales of nutritional supplements rich in specialty carbohydrates.
Busy schedules and demanding lifestyles are making it challenging for the global workforce to meet their daily nutrient needs. This has led to a growing demand for foods that offer a well-balanced diet and an increased reliance on dietary supplements. Heightened health consciousness among adults, along with a rise in gym attendance, has further boosted the demand for dietary supplements in the specialty carbohydrates sector.
Sweeteners like isomalt and palatinose are commonly used in food and beverages for their stabilizing and gelling properties, as well as for sweetness. Consumers are increasingly seeking low-sugar and healthier options, driving the popularity of sugar-free carbonated drinks amid rising obesity rates. Consequently, energy drinks and nutrition bars present valuable opportunities for companies to incorporate these specialty carbohydrates into their products.
A recent survey reveals that West Virginia has the highest obesity rate in the United States, exceeding 40%. This alarming statistic, combined with the increasing popularity of natural cosmetic products and growing consumer concerns about appearance, is driving demand for anti-aging solutions. Many companies are investing in research and development to create more effective anti-aging products.
Additionally, cyclodextrin is utilized in perfumes to stabilize fragrance and reduce foaming in formulations. These factors are contributing to the growth of the market during the forecast period.
Key Points from the Market
- The market is expected to surpass US$ 10,822.7 million by 2033.
- The expanding urban working population is a driving element in the expansion of the market.
- The specialty carbohydrates market is expected to thrive at a CAGR of 5% during the forecast period 2023 to 2033.
- North America dominated the specialty carbohydrates market.
Key Development in the Market
- June 2021: Cargill and BASF expanded their collaboration to research and innovate an enzyme-based solution for the animal feed market.
- March 2019: DuPont Danisco launched the poultry feed supplement Syncra AVI in Asia Pacific. This new launch aims to maximize nutrient digestibility in chicken production.
- May 2019: Lallemand Bio-Ingredients Savoury and Lallemand Specialty Cultures co-exhibited at the IFFA 2019 in Germany. This enabled the organization to combine its knowledge and know-how to provide complete solutions to meat producers.
- November 2021: RoundTable healthcare partners announced the formation of Ever Well Health Holding, LLC. It is a new well-consumer health and wellness functional components platform. Ever Well Health aimed to provide substantiated functional ingredient solutions for use in dietary supplements. This includes food and drinks to give substantial value to dietary supplements, food, and beverage brands.
Some key companies are as follows:
- Cargill Incorporated
- Ingredion Incorporated
- Tate & Lyle Plc.
- Archer Daniels Midland Company
- E. I. Du Pont De Nemours and Company
- Koninklijke DSM N.V.
- Roquette Freres
- Südzucker AG Company
- SunOpta
- Ajinomoto Inc.,
- Comet Bio
- J. Rettenmaier & Söhne GmbH & Co. Kg
- FMC Corporation
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Market Segmentation
By Product Type:
- Glucose
- Lactose
- Galactose
- Glucosamine
By Application:
- Dietary supplements
- Animal Nutrition
- Personal care
- Functional foods
- Functional beverage
By Distribution Channel:
- Convenience Stores
- Specialty Stores
- Online Retailers
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East & Africa
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