The global specialty carbohydrates market is estimated at reach US$ 6.5 Bn in 2022. With sales growing at a healthy 6% CAGR, the market valuation will top US$ 11.6 Bn by 2032. The specialty carbohydrates market is expected to account for 2% of the overall nutraceutical market in 2022.
Specialty carbohydrates are nutraceutical that are derived from probiotics and prebiotics. They are identified as complex substances extracted from simple sugar such as glucosamine, L-fucose, galactose, glucose and sialic acid and naturally exist in milk. Nutraceutical, cosmetics, and pharmaceuticals are some industries where specialty carbohydrates can be applied.
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.
Specialty carbohydrates are being incorporated in functional foods and beverages and are becoming popular among health-conscious millennials. In developing countries such as India, China and Mexico, the market is gaining traction owing to an increasing population adapting gymnastics and fitness activities.
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Furthermore, specialty carbohydrates offer various health benefits due to which they are incorporated in medical supplements to treat intestinal imbalances, malnutrition, and cardiovascular diseases. Also, various market players use these carbohydrates to enhance the nutritional value of food to promote better health habits and to reduce cholesterol levels.
Moreover, owing to the rising levels of osteoarthritis, diabetes and other chronic diseases linked to obesity, awareness among consumers about fitness is growing. This is expected to be a chief driver of the global specialty carbohydrates market over the forecast period.
Key Takeaways:
- Based on sales channel, demand in the online retailers segment is expected to remain high over the forecast period.
- By application, functional food segment and functional beverage segment will collectively account for more than 50% of the total market share in 2022.
- North America is expected to account for 31% of the total market share by 2032.
- APAC will emerge as a lucrative pocket, with high demand in India and China.
Competitive Landscape
Key manufacturers of specialty carbohydrates are focusing on research & development, product innovation, geographical expansion, partnerships and mergers and acquisitions to cater to a growing consumer pool. For instance:
- In 2021, the partnership of Cargill and BASF expanded to develop and innovate an enzyme-based solution for the animal feed industry
Global Specialty Carbohydrates Market By Category
Product Type:
- Glucose
- Lactose
- Galactose
- Glucosamine
Application:
- Dietary supplements
- Animal nutrition
- Personal care
- Functional foods
- Functional beverage
Distribution Channel:
- Convenience Stores
- Specialty Stores
- Online Retailers
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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Key Questions Answered in the Report
How much is the global specialty carbohydrates market worth?
The specialty carbohydrates market is expected to reach a value of US$ 6.5 Bn in 2022.
At what rate is the global specialty carbohydrates market expected to grow?
Specialty carbohydrates consumption is expected to increase at a 6% CAGR over the forecast period.
At what rate did the specialty carbohydrates market grow in the last 5 years?
In terms of revenue, the specialty carbohydrates market grew at a 4.8% CAGR of during 2017-2021.
What is the share of the top 10 spciality carbohydrates market players?
Top 10 producers of specialty carbohydrates including Cargill Incorporated, Ingredion Incorporated, Tate and Lyle Plc., SunOpta, ADM Company, and others hold around 35-40% of the total market share.
Which are the major countries driving demand for specialty carbohydrates?
The U.S., the U.K. and Germany are the major countries driving demand for specialty carbohydrates.
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