by The high fructose corn syrup market comprises corn syrup that has undergone enzymatic processing to increase its fructose content. It is sweeter than regular corn syrup and widely used as an alternative sweetener to sucrose in beverages, Processed foods, confectionery items and dairy products.
The global high fructose corn syrup market is estimated to be valued at US$ 9.21 Bn in 2024 and is expected to exhibit a CAGR of 1.8% over the forecast period from 2024 to 2031.
Key Takeaways
Key players operating in the high fructose corn syrup are AGRANA Beteilgungs AG, Archer Daniels Midland Company, Cargill Inc., COFCO Rongshi Bio-technology Co. Ltd, Global
Sweeteners Holdings Limited, Ingredion Incorporated, Japan Corn Starch Co., Ltd., Kerry Group Plc, Roquette Freres. Key opportunities in the market include expanding application in beverages, baked goods and dairy products. Geographically, North America holds the largest share in the global high fructose corn syrup market owing to substantial demand from the expanding soft drinks industry in the region.
Market drivers
High fructose corn syrup market demand is driven by the expansion of the soft drinks industry, which serves as a major driver. High fructose corn syrup is widely used as a sweetener in carbonated drinks and non-carbonated beverages.Growing health awareness and demand for low-calorie drinks has further propelled the use of HFCS as a sucrose alternative in the beverage industry. Developing regions in Asia Pacific and Latin America offer lucrative growth opportunities for HFCS producers owing to increasing consumption of packaged food and drinks in these emerging economies.
PEST Analysis
Political: High fructose corn syrup production is supported by government subsidies for corn production in the United States. However, tariffs imposed on imports and exports affect the prices of high fructose corn syrup.
Economic: Changes in overall economic conditions affect the demand for food and beverages containing high fructose corn syrup. Higher disposable incomes increase the spending on processed foods and drinks.
Social: Changing consumer preferences toward consuming natural sugars and concerns about potential health impacts of high fructose corn syrup have reduced its usage in certain countries. However, the price competitiveness of high fructose corn syrup drives its usage.
Technological: New production technologies for extraction of fructose from corn starch at lower costs have improved the efficiency of high fructose corn syrup manufacturing. However, additional research is required for developing next generation sweeteners.
High Fructose Corn Syrup Market Regions Analysis shows that the geographical regions where the market in terms of value is concentrated include North America and Asia Pacific. The usage of high fructose corn syrup is high in the United States due to the abundant availability of corn. Countries like China and India also account for major shares due to rapidly growing demand for packaged food and beverages.
The fastest growing regional market for high fructose corn syrup is expected to be Asia Pacific between 2024 and 2031. With rising population and disposable incomes, the demand for affordable packaged consumer products is surging in the region. This drives the need for low-cost sweeteners like high fructose corn syrup across food and beverage applications in Asia Pacific countries. The region’s growth is projected to outpace North America and European markets during the forecast period.
*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
