Glucose Syrup Market Ongoing Trends and Recent Developments

The global glucose syrup market is valued at US$ 4.2 billion in 2023 and is projected to reach US$ 6.9 billion by the end of 2033, expanding at a steady CAGR of 5% from 2023 to 2033.

Glucose syrup, often referred to as corn syrup in the United States, is a versatile and essential ingredient in the food and beverage industry. This colorless and odorless sweet syrup is derived from starch, primarily corn, wheat, or potatoes, through a hydrolysis process. Its multifaceted applications span from confectionery and baking to the production of processed foods, beverages, and pharmaceuticals.

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Key Takeaways from Market Study:

• The global glucose syrup market is estimated to reach a value of US$ 4.2 billion in 2023.

• Global demand for glucose syrup is forecasted to increase at a CAGR of 5% from 2023 to 2033.

• The market is predicted to reach a valuation of US$ 6.9 billion by the end of 2033.

• Asia Pacific is projected to hold a substantial share of the global market revenue over the forecast period.

Competitive Landscape:

Suppliers of glucose syrup are making huge investments in the effective functioning of supply chain management systems. Players are also investing in new developments to offer user-friendly products to health-conscious consumers. Certain regulatory frameworks are also imposed by respective governing bodies to ensure minimal environmental impacts. Measures for products’ quality control are taken by respective manufacturers.

New product development is one of the prominent strategies adopted by manufacturers of glucose syrup. The rising population of health-conscious people is stimulating manufacturers to launch low-sugar or healthier variants of glucose to attract more consumers.

For instance :
• In November 2020, Ingredion Inc. announced the launch of Stablesweet LD low-sugar glucose syrup. It is derived from corn and enables producers to manufacture shelf-stable products with comparatively lower sugar content.

Key companies in the glucose syrup market are:

Cargill, Inc., Bakers Kitchen, Tate and Lyle, Roquette Freres, Queen Fine Foods, Grain Processing Corporation, DGF Service, and Archer Daniels Midland.

Growing Use of Glucose Syrup in Food & Beverages Sector:

Worldwide demand for baked food products, including cakes, baked chips, etc. is skyrocketing. Moreover, glucose syrup is widely used to produce candy owing to its consistency, which can aid to prevent the crystallization of the respective product. Chefs opt for glucose syrup because of its ability to retain the appearance of food products without making any alterations.

Glucose syrups are utilized to enhance the moisture retention capacity of food products and to keep baked goods fresh. They are gaining popularity in the confectionary sector as they can retain a smooth texture and prevent the grainy texture of eatables.

Segmentation of Glucose Syrup Industry Research:

• By Grade :

o Food
o Pharma
o Industrial
o Others

• By Source :

o Wheat
o Corn
o Barley
o Rice
o Potatoes
o Cassava
o Others

• By Form :

o Liquid
o Granular

• By Application :

o Pharmaceuticals
o Foods
o Beverages
o Confectioneries
o Others

• By Region :

o North America
o Europe
o Asia Pacific
o Latin America
o Middle East & Africa

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Challenges in the Glucose Syrup Market

While the glucose syrup market is on an upward trajectory, it also faces several challenges that industry stakeholders must address:

  1. Health Concerns: The increased awareness of health issues related to excessive sugar consumption has led to calls for reduced sugar content in products. This has put pressure on manufacturers to innovate and develop healthier alternatives.
  2. Regulatory Scrutiny: Governments and regulatory bodies are implementing stricter regulations on the labeling and advertising of sugary products. Manufacturers need to stay compliant with these evolving regulations while maintaining product quality and consumer appeal.
  3. Raw Material Costs: The price and availability of raw materials, such as corn and wheat, can fluctuate due to factors like weather conditions and global trade dynamics. This can impact production costs and pricing strategies.
  4. Competition: The glucose syrup market is highly competitive, with numerous players vying for market share. Companies must continually innovate and differentiate their products to remain competitive.

 

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