by The glucose syrup market is primarily driven by the rising demand for healthier sweetening options globally. Glucose syrup is commonly used as an alternative sweetener in various food applications like bakery products, beverages, confectionery, dairy products, and others. It has gained popularity as a healthier substitute to sugar since it contains fewer calories than refined sugar. As consumers become more health-conscious, the demand for glucose syrup is increasing significantly.
The Global Glucose Syrup Market is estimated to be valued at US$ 38.2 billion in 2024 and is expected to exhibit a CAGR of 5.8% over the forecast period 2024-2029.
Key Takeaways
Key players operating in the glucose syrup are Cargill, Ingredion, Corn Products International, Archer Daniels Midland, Tate & Lyle.
The growing health and wellness trend has been a major driver boosting the demand for glucose syrup globally. Consumers are increasingly preferring food products with lesser sugar content. This has prompted food manufacturers to replace refined sugar with glucose syrup which contains fewer calories. The demand is further expected to grow with rising cases of lifestyle diseases like obesity and diabetes.
Geographically, Asia Pacific dominates the glucose syrup market and is expected to witness the fastest growth over the forecast period. Developing countries like China and India offer significant growth opportunities owing to rapid urbanization, changing lifestyle, and rise in disposable income. Key players are expanding their production facilities in these emerging economies to tap into the market potential.
Market key trends
One of the key trends gaining traction in the glucose syrup market is the demand for specialty syrups. Food companies are developing innovative glucose syrup varieties in different flavors, textures, and calorie profiles to suit diverse consumer needs. For instance, high fructose glucose syrup which has fewer calories than regular glucose syrup without compromising on sweetness. The adoption of specialty glucose syrups allows food makers to offer unique products catering to health-conscious consumers.
Porter’s Analysis
Threat of new entrants: Low capital requirement and economies of scale give advantage to large producers making barriers to entry low.
Bargaining power of buyers: Buyers have moderate to high bargaining power as glucose syrup has substitutes and buyers can easily switch to alternatives like high fructose corn syrup.
Bargaining power of suppliers: Suppliers of raw materials like corn have moderate bargaining power due to consolidated production base and role of contracts in pricing.
Threat of new substitutes: Alternatives like high fructose corn syrup, maltodextrin etc pose medium threat to demand as some products can easily substitute.
Competitive rivalry: Intense competition due to large number of producers both multinationals and local players leads to price wars.
Geographically, North America currently holds the largest share of over 35% of the global glucose syrup market in terms of value led by the U.S. where it finds wide applications in confectionery, bakery and other processed food items. Asia Pacific is the fastest growing regional market for glucose syrup owing to increasing population, urbanization and rising disposable incomes in countries like China and India where demand from food processing industry is surging.
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, chemicals and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile
