Dextrose Global Market Report 2024

The dextrose market size has grown strongly in recent years. It will grow from $5.8 billion in 2023 to $6.29 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth observed in the historical period can be attributed to the expansion of the food and beverage industry, increased activities in the pharmaceutical sector, higher consumption of convenience foods, a rise in the popularity of sports and energy drinks, and an increased demand for sugar substitutes.

The dextrose market size is expected to see strong growth in the next few years. It will grow to $8.49 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The anticipated growth in the forecast period can be linked to an increasing demand in the confectionery industry, the expanding market for functional food and beverages, a rising adoption in animal feed, growing applications in the pharmaceutical sector, and the continued expansion of the biofuel industry. Noteworthy trends expected in the forecast period include advancements in biotechnology, innovations in clean-label formulations, the emergence of plant-based dextrose, the development of customized dextrose solutions, and collaborative efforts focused on product innovation.

The anticipated growth of the dextrose market is expected to be propelled by the expanding processed food and convenience food industries. Processed food, defined as any food altered during preparation, and convenience food, characterized by quick and convenient preparation and storage options, are driving the demand for dextrose. Dextrose is extensively utilized as a sweetener, bulking agent, and energy source in processed and convenience foods, contributing to the overall growth of the dextrose market. For example, in 2022, the United States Department of Agriculture reported a total value of $38 billion for processed food products exported from the US, marking a 10.96% increase from $34.24 billion in 2021. Additionally, Canada and Mexico exported processed food products valued at $11.43 billion and $5.65 billion, respectively, in 2022. Consequently, the growing processed food and convenience food industries are key drivers of the dextrose market's expansion.

The increasing pharmaceutical industry is also anticipated to contribute to the growth of the dextrose market. The pharmaceutical sector involves the discovery, development, and production of drugs and medicines by governmental and private entities. Dextrose, a form of glucose, finds applications in the pharmaceutical industry, particularly in intravenous administration in hospitals, providing a source of energy, managing hypoglycemia, and supporting hydration. As of May 2021, IQVIA Inc., a US-based pharmaceutical company, projected that the total expenditure on pharmaceuticals in the US is expected to range between $380 and $400 billion by 2025, up from $359 billion in 2020, reflecting a compound annual growth rate of 0-3%. Hence, the growing pharmaceutical industry plays a significant role in propelling the growth of the dextrose market.

Product innovations emerge as a prominent trend gaining traction in the dextrose market. Leading companies within the dextrose market are actively pursuing inventive formulations in sugar and starch substitutes to secure their positions, driving the creation of cutting-edge products. An illustrative example is Baxter International Inc., a US-based healthcare company, which introduced the premix Norepinephrine Bitartrate in 5% Dextrose Injection in September 2021. This product, available in strengths of 4 mg/250 mL and 8 mg/250 mL, is designed to treat individuals facing life-threatening hypotension due to specific medical conditions or surgical operations. Baxter's formulation of norepinephrine boasts a refrigerator shelf life of up to 21 months or a room temperature shelf life of up to 90 days in overwrap, making it suitable for storage in automated dispensing cabinets at the point of care.

Major players in the dextrose market are at the forefront of developing innovative formulations, as exemplified by Hikma Pharmaceuticals PLC., a UK-based pharmaceutical company. In August 2023, Hikma Pharmaceuticals launched Vancomycin Hydrochloride for Injection, USP, in 1.25g and 1.5g doses in the US. This product, diluted with 5% Dextrose Injection, is indicated for treating various serious bacterial infections, including septicemia, infective endocarditis, skin and skin structure infections, bone infections, and lower respiratory tract infections caused by susceptible isolates of methicillin-resistant Staphylococcus aureus (MRSA) and coagulase-negative staphylococci.

In April 2022, KPS Capital Partners, LP, a US-based private equity company, made a significant move by acquiring a controlling stake in Tate & Lyle's for an undisclosed amount. This acquisition aims to strengthen the formation of Primient, positioned as an independent and focused company in the market. KPS will collaborate closely with Primient's management team to optimize assets and operations, expedite organic growth initiatives, and pursue strategic acquisitions. Tate & Lyle PLC, the UK-based provider of food and beverage solutions and ingredients, is known for its diverse range of dextrose- and dextrose-based products.

Major companies operating in the dextrose market report are NOW Foods, American Sugar Refining Inc., Grain Processing Corporation, Cargill Incorporated, Archer Daniels Midland Company, Wilmar International Limited, Gulshan Polyols Ltd., Sudzucker Group, Ingredion Incorporated, Tereos, Roquette Freres, Tate & Lyle PLC, AGRANA Beteiligungs AG, COFCO Biotechnology Co. Ltd., Global Sweeteners Holdings Limited, Tongaat Hulett, Sunopta Inc., Royal Avebe UA, American Crystal Sugar Company, Belgosuc Nv, Nordic Sugar AS, Cristalco SAS, Uniglad Ingredients UK Ltd., Fooding Group Limited, Penford Corporation, Foodchem International Corporation, ASR Group International Inc., Qinhuangdao Lihua Starch Co. Ltd., Matsutani Chemical Industry Co. Ltd., Changchun Dacheng Group Co. Ltd.

North America was the largest region in the dextrose market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the dextrose market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the dextrose market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Two primary types of dextrose are anhydrous and monohydrate. The sweetener dextrose anhydrous is applied in various products such as baked goods, candies, gums, select ice creams and frozen yogurts, canned meals, cured meats, and other dairy items. Available in crystalline, powdered, and liquid forms, dextrose serves industries such as food and beverage, confectionery, bakery, dairy, beverages, condiments and dressings, pharmaceuticals, cosmetics, personal care products, and more.

The dextrose market research report is one of a series of new reports that provides dextrose market statistics, including dextrose industry global market size, regional shares, competitors with a dextrose market share, detailed dextrose market segments, market trends and opportunities, and any further data you may need to thrive in the dextrose industry. This dextrose market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The dextrose market consists of sales of dextrose injections and tablets. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.