by High fructose corn syrup is a sweetener derived from corn starch that is commonly used in processed foods and beverages as a low-cost alternative to sucrose. Some key advantages of high fructose corn syrup include lower production costs than sugar, preserving freshness in foods, and enhancing flavors. The increasing consumption of packaged foods, beverages and baked goods has augmented the demand for high fructose corn syrup globally. However, rising obesity and diabetes epidemics have put the spotlight on excessive sugar consumption and its linkages to poor health outcomes.
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 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 players are investing significantly in new production facilities and product innovations to consolidate their market position.
High fructose corn syrup market demand is anticipated to grow over the forecast period, driven by the increasing global demand for packaged food and beverages. High fructose corn syrup offers distinct benefits like low cost, preservation, and flavor enhancement in comparison to sucrose.
North America, led by the U.S., dominates the global high fructose corn syrup market currently. However, Asia Pacific region is anticipated to record the fastest growth during the forecast period, led by developing economies like China and India where packaged food consumption is increasing rapidly. Key players are also expanding their production capacity and distribution footprint across Asia Pacific and Latin America.
Market key trends
Rising health concerns related to excessive sugar intake have become a key trend shaping the high fructose corn syrup market. Several studies have linked the overconsumption of added sugars, including high fructose corn syrup, to weight gain, cardiovascular diseases and diabetes. This has prompted many food and beverage manufacturers to reduce or remove high fructose corn syrup from their product formulations. High Fructose Corn Syrup Market challenges and opportunities are prompting companies to innovate new formulations that use natural sweeteners or reduced sugar alternatives like allulose, tagatose, and stevia to align with health-conscious consumer demands.
Porter’s Analysis
Threat of new entrants: New entrants face high costs for production facilities, distribution networks, and brand recognition to compete with already established players.
Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of alternative products like sucrose and artificial sweeteners.
Bargaining power of suppliers: Corn farmers have low to moderate bargaining power as they supply a commodity to many producers.
Threat of new substitutes: Alternative sweeteners pose a threat due to perceived health issues with HFCS.
Competitive rivalry: The industry is competitive with global players constantly improving production processes and reducing costs.
Geographical Regions
North America is currently the largest market for HFCS, accounting for over half of global demand. The widespread use of HFCS in soft drinks, packaged foods, and baked goods has established it as a cheaper alternative to sucrose in the regional food industry.
Asia Pacific is projected to be the fastest growing regional market for HFCS during the forecast period. Rapid urbanization, rising disposable incomes, and growth in food processing sectors are driving demand growth in countries like China and India. Additionally, increasing health concerns around sucrose and a need to reduce sugar content are prompting manufacturers in the region to incorporate more HFCS into products.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
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
