The glucose syrup market involves the production and trade of glucose syrups that are produced from cornstarch through hydrolysis. It finds wide applications as a sweetener, humectant, and texturizer in various food products such as bakery, confectionery, processed fruits & vegetables, dairy, beverages, and soups & sauces. Glucose syrup provides textures to food products, prevents crystallization of sugars, and enhances the shelf life and moisture retention properties. The global demand for processed and convenience food has been continuously rising, thereby positively impacting the glucose syrup market. The growing health-conscious consumer base has also been favoring low-calorie glucose syrups for various applications.
The glucose syrup market is estimated to be valued at USD 4.5 Bn in 2024 and is expected to reach USD 6.1 Bn by 2031, growing at a compound annual growth rate (CAGR) of 4.9% from 2024 to 2031.
Key Takeaways
Key players operating in the glucose syrup market are Ingredion Incorporated, Roquette, Archer Daniels Midland, Tate & Lyle, AGRANA Beteiligungs AG and Cargill.
Growing demand for convenience and packaged food products across regions presents significant growth opportunities for glucose syrup producers. In addition, the rising adoption of low-calorie glucose syrups for food and beverage applications will drive the market expansion.
The Glucose Syrup Market major companies are focusing on capacity expansions and mergers & acquisitions to strengthen their global presence. For instance, in 2020, Archer Daniels Midland acquired a majority stake in Thailand-based sugar and sweetener company Khoy Kaew Sugar Group Co. to expand in Asia Pacific.
Market Drivers
Increased usage of glucose syrup as a sweetener and texturing agent in various food and beverage products like bakery, confectionery, processed fruits & vegetables, dairy, juices and flavored beverages has been a major market driver. The thriving food processing industry globally has significantly boosted the consumption of glucose syrup. Moreover, glucose syrup provides desired sweetness with low calories and improved digestibility compared to sucrose, which has further widened its application scope among health-conscious consumers.
PEST Analysis
Political: The government policies and regulations influence the glucose syrup market. Regulatory framework related to food additives and processing methods impact manufacturers.
Economic: Global economy fluctuations affect consumer spending power influencing demand for end-use products of glucose syrup such as confectionery, bakery and pharma. Rise in health concerns among consumers lead to shift in preferences.
Social: Changing lifestyles and busy schedules increased demand for convenience and packaged food products using glucose syrup. However, growing health awareness and focus on natural products impact the market.
Technological: Advanced processing techniques help manufacturers increase production efficiencies and quality. New applications in pharmaceutical and other industries boost the glucose syrup market. Introduction of genetically modified crops also impact the supply.
Geographical regions with high market value
Asia Pacific holds the major share of the global glucose syrup market due to large production and consumption in countries like China, India. North America and Europe also represent significant markets due to growing demand for convenience and packaged foods.
Fastest growing region
The glucose syrup market in Latin America is expected to grow at the fastest rate during the forecast period. This is attributed to increasing population, rising disposable income, expanding packaged food industry in the region. Countries like Brazil and Mexico offer lucrative opportunities for glucose syrup producers due to changing customer preferences.
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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc.
