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 the forecast period from 2023 to 2033.
Increasing consumer preference for healthier food items is propelling sales of specialty carbohydrates in the food and beverage sector. In addition to this, surging demand for high quality animal-derived products will continue pushing sales of specialty carbohydrates over the forecast period.
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Dietary Supplements Control the Substantial Market Share
Dietary supplements are among the significant category driving the growth of the specialty carbohydrates market. An increase in health-conscious consumers in developing nations such as India, China, and Mexico is the primary factor driving the segment’s growth. Furthermore, rising enrolments in fitness centers and gyms result in increased sales of nutritional supplements high in specialized carbs.
Furthermore, due to busy schedules and hectic working lifestyles, the working population, globally, is struggling to meet their daily nutrient requirements. As a result, there is an increasing need for food items that provide a well-balanced diet. Moreover, increasing their reliance on dietary supplements. Rising adult health consciousness and an increase in gym activity have increased the demand for dietary supplements in the specialty carbohydrates industry.
Isomalt and palatinose and other sweeteners are commonly employed in food and beverages. As they provide stabilization, gel formation, and act as a sweetener.
Customers want low sugar and other healthy elements in their products. The sugar-free carbonated drink is surging due to the rising prevalence of obesity. Therefore, energy drinks and nutrition bars may provide a healthy possibility for businesses to utilize these carbohydrates.
According to a survey, West Virginia ranks first in the United States when it comes to obesity. The rate of obesity in the state is more than 40%.
The growing popularity of natural cosmetic goods, as well as customers growing concern about their looks, has fueled the market for anti-aging solutions. Several corporations are investing in research and development to provide more effective anti-aging products.
Cyclodextrin is used to stabilize scent in perfumes and to minimize foaming in solutions, among other things. As a result, these variables are driving the expanding market during the anticipated time.
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.
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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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