What are the Historical Developments and Current Growth Metrics of the Glucose Syrup Market?
The glucose syrup market has seen considerable growth due to a variety of factors.
• The value of the glucose syrup market has seen significant expansion in the previous years. The market, currently valued at $3.95 billion in 2024, is poised to stay at the same monetary value by 2025, but with a compound annual growth rate (CAGR) of 6.3%.
Factors that have influenced this growth during the historic period include a shift towards the use of low-calorie sweeteners, the effects of urbanization and evolving lifestyle trends, the progression and enlargement of the food and beverage industry, increased consumer attention to the quality and nutritional value of their food, and a rising demand for dextrose and maltodextrin.
What Does Future Hold for The Glucose Syrup Market By 2029?
The glucose syrup market is expected to maintain its strong growth trajectory in upcoming years.
• The market for glucose syrup is anticipated to witness substantial growth in the ensuing years. The market is projected to expand to $5.32 billion in 2029, escalating at a compound annual growth rate (CAGR) of 6.1%.
This growth over the forecast period can be ascribed to the surging demand for easy-to-prepare foods, the increasing consumption of glucose syrup in baking, the mounting demand for cosmetics, heightened awareness regarding the advantages of using cosmetics, and the proliferating application of glucose syrup. Key trends during this forecast period encompass advancements in production methodologies, diversified application adoption, breakthroughs in packaging and processing, microencapsulation, and enzymatic hydrolysis.
What Are The Primary Growth Drivers In The Glucose Syrup Market?
The demand for glucose syrup in the market is projected to increase due to the growing popularity of baked items. Baking products such as bread, cakes, cookies, pastries, and pies are made from dough or batter and are cooked through baking. Factors like consumer convenience, higher disposable income, and expansion of the bakery sector are propelling the growth of these products. Glucose syrup plays a crucial role in heightening the sweetness, retaining moisture, and improving the texture of these baked goods by preventing crystallization. Based on data from Agriculture and Agri-Food Canada, a governmental agency in Canada, total sales for baked goods in the United States retail market were $82.9 billion in November 2022, with projections for a 3.1% annual growth, targeting $97.7 billion by 2026. Hence, the escalating demand for baking products is triggering the expansion of the glucose syrup market.
What Is The Segmentation Of The Global Glucose Syrup Market?
The glucose syrup market covered in this report is segmented –
1) By Form: Liquid, Granular
2) By Grade: Food, Pharma, Industrial, Other Grades
3) By Usage Source: Corn, Wheat, Barley, Potatoes, Rice, Cassava, Other Usages
4) By Application: Food, Beverage, Confectionery, Pharmaceuticals, Other Applications
Subsegments:
1) By Liquid: High Maltose Glucose Syrup, Low Dextrose Equivalent (DE) Glucose Syrup, High DE Glucose Syrup, Corn-Based Liquid Glucose Syrup, Wheat-Based Liquid Glucose Syrup, Tapioca-Based Liquid Glucose Syrup
2) By Granular: Dried Glucose Syrup Powder, Maltodextrin Powder, High Fructose Glucose Powder, Corn Starch-Based Glucose Powder, Rice-Based Glucose Powder
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How Are Emerging Trends Reshaping The Dynamics Of The Glucose Syrup Market?
Major companies operating in the glucose syrup market are making strategic investments, such as developing corn syrup refineries, to expand production capacity and meet rising consumer demand. The refining process involves extracting glucose syrup from corn starch through enzymatic conversion, followed by purification to remove impurities and achieve the desired sweetness and consistency. For instance, in August 2022, Cargill, a US-based food corporation, announced an investment of over $50 million (0.05 billion) in the construction of a sustainable corn syrup plant. This investment is part of the company's broader commitment to sustainability, aiming to enhance the environmental impact of its production processes while meeting growing consumer demand for more eco-friendly food ingredients. The new facility is expected to incorporate advanced technologies and practices to minimize its carbon footprint and resource consumption, positioning Cargill as a leader in sustainable food manufacturing.
Who Are the Key Players In The Glucose Syrup Market?
Major companies operating in the glucose syrup market are:
• Cargill Incorporated
• Archer Daniels Midland Company (ADM)
• Südzucker AG
• Ingredion Incorporated
• Dr. Oetker
• Tereos SCA
• Roquette Frères
• Agrana Group
• Tate & Lyle PLC
• Avebe U.A.
• Luzhou Food
• Grain Processing Corporation
• Beneo GmbH
• Gulshan Polyols Ltd.
• Sweetener Products Company
• Emsland-Stärke GmbH
• Ragus Sugars Ltd
• Hefei TNJ Chemical Industry Co. Ltd.
• Matsutani Chemical Industry Co. Ltd.
• Bakers Kitchen.
What Are The Regional Insights Into The Glucose Syrup Market?
North America was the largest region in the glucose syrup market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the glucose syrup market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
