Glucose syrup is a syrup made from starch hydrolysis which breaks starch into glucose polymers. It is used as a sweetener in various food products such as bakery items, beverages, confectionery items, desserts, and others. Glucose syrup provides texture and bulk in food items along with imparting sweetness. It is cheaper than other sweeteners and has a long shelf-life. The rise in demand for processed and packaged food items coupled with changing lifestyle and consumption pattern is boosting the growth of the glucose syrup market.
The Global Glucose Syrup Market is estimated to be valued at US$42.5 billion in 2024 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024-2031.
Key Takeaways
Key players: Key players operating in the glucose syrup are corn products, Cargill, Roquette, Tate & Lyle, Ingredion, Grain Processing Corporation, and Archer Daniels Midland.
Key opportunities: Some key opportunities in the glucose syrup market include expansion in developing economies owing to increasing consumption of packaged food, product innovation to cater to demands of health-conscious consumers, and entry into untapped regional markets.
Global expansion: Key players in the glucose syrup market are focusing on global expansion strategies through acquisitions and partnerships to capitalize on growth opportunities across regions. In addition, trade agreements are supporting companies to enter new geographies.
Market drivers
The rise in demand from the food and beverage industry is a major driver for the glucose syrup market. Growing consumption of packaged food items such as bakery products, beverages, confectionery items which require glucose syrup as a sweetener and texturizing agent is fueling market growth. In addition, the cost effectiveness of glucose syrup compared to other sweeteners is supporting its use in food manufacturing. Changing lifestyle, urbanization and growing health awareness are some other factors expected to boost the glucose syrup market over the forecast period.
PEST Analysis
Political: Government regulations related to food and beverages are likely to impact the glucose syrup market. Tariffs and trade policies might affect domestic production as well as international trade.
Economic: Economic growth, rising incomes, and changing demographics are key factors influencing demand patterns in end-use industries such as food and beverages. Fluctuations in raw material prices also affect the glucose syrup market.
Social: Evolving consumer preferences towards convenience, health and wellness are expected to steer demand. Increasing nutritional consciousness may prompt a shift towards alternative sweeteners.
Technological: Technological advancements enable higher efficiency in production and new product development. Automation helps reduce production costs. New high-fructose syrups developed using recombinant DNA technology are also gaining attention.
The geographical regions where the glucose syrup market is concentrated in terms of value are North America and Europe. These regions account for about 60% of the global market value owing to well-established food processing industries and presence of major players. Changing lifestyles and increased health consciousness have led to demand for bakery and confectionery products in these regions boosting glucose syrup consumption.
The Asia Pacific region is poised to be the fastest growing market for glucose syrup during the forecast period. This is attributed to rising population, rapid urbanization, growing economies and changing food habits in countries such as China, India and other Association of Southeast Asian Nations (ASEAN) countries. Increasing demand from industries like packaged foods, beverages and dairy is driving the glucose syrup market growth in Asia Pacific.
What Are The Key Data Covered In This Glucose Syrup Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Glucose Syrup Market’s growth between 2024 and 2031.
:- Accurate calculation of the size of the Glucose Syrup and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Glucose Syrup Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Glucose Syrup vendors
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*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile