Global Functional Carbohydrates Market Forecast 2019-2027
The global functional carbohydrates market is anticipated to grow at a CAGR of 5.80% by 2027, capturing a revenue of $XX by 2027, through the forecast period of 2019-2027. The shifting preference of consumers towards a healthy and nutritious diet, coupled with the vast industrial applications of functional carbohydrates, are the factors projected to boost the growth of the market globally.
The major segment operating in the global functional carbohydrates market, which draws revenue, is the Food and Beverage, as of 2018. Isomalt, Palatinose, and others have a wide range of use in food and beverages for gel formation, as sweeteners and stabilizers. The consumers prefer food products with low sugar and other healthy ingredients, so these carbohydrates can be widely used in energy drinks and nutritional bars. Another segment is the cosmetic industry, which is growing at the highest Compound Annual Growth Rate [CAGR] in the global market. The increasing costs of functional carbohydrates are estimated to hinder the growth of the market. At the same time, the innovations in the flavors with respect to formulas, through combinations, are expected to result in huge growth opportunities for market growth.
The global functional carbohydrates market is segmented into different regions with respect to geography, namely, North America, Europe, Asia Pacific, and the Rest of the World. As of 2018, the European region garnered the largest market share, due to the large presence of key players, and the prominent animal feed industries. The market region of Asia Pacific is set to witness the fastest growth during the forecasted period, owing to the rising geriatric population, and increased demands for anti-aging products.
Some of the major companies in the market are Cargill, Incorporated, Rouquette Freres, Fraken Biochem Co. Ltd., Foodchem International Corporation, and others like BENEO.
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