Global Glucose Syrup Market Size, Share & Industry Trends Analysis Report By Grade (Beverages, Food and Pharma & Others), By Application (Wine, Sweetening Agent and Others), By Regional Outlook and Forecast, 2022 - 2028
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Get in-depth analysis of the COVID-19 impact on the Glucose Syrup Market
Market Report Description
The Global Glucose Syrup Market size is expected to reach $5.1 billion by 2028, rising at a market growth of 4.4% CAGR during the forecast period.
Sugar is hydrolyzed to create glucose syrup, sometimes referred to as a confectioner's glucose. A sugar is glucose. In the US, maize (corn) is frequently used as the starch source, in which case the syrup is known as "corn syrup," although glucose syrup can also be produced using potatoes, wheat, and less frequently, barley, rice, and cassava. Because they are abundant sources of starch, corn, rice, wheat, and potatoes are typically used to manufacture glucose syrup, which is a sweetening liquid that is created after the hydrolysis of the glucose molecule.
Generally speaking, glucose syrup is fat-free yet heavy in calories. Cornstarch-based glucose syrup also has trace amounts of calcium, zinc, and thiamine. Beer is occasionally made using glucose sugar as well. In the household, glucose sugar is a highly frequent ingredient used to produce iced tea or homemade lemonade. Many top-tier chefs employ glucose sugar to improve the flavor of their dishes.
Growing consumer demand for convenience foods and increased use of glucose syrup in baked goods like sweets are two reasons driving the market's expansion. Glucose syrup is needed as a sweetener in sectors like confectionery, pharmaceuticals, and food & drinks. Due to the increased demand for sugar substitutes, glucose syrups are also utilized in the production of ice cream, chocolate, chewing gum, and canned foods.
Due to its long shelf life, glucose syrup is becoming more and more popular. It also provides a superior substitute for regular granulated sugar. The requirement for glucose syrup is driven by its non-toxic, anti-crystal, anti-freezing, humectant that is ingredient that retains moisture and keeps freshness, and preservation characteristics. In addition to being used as a sweetener, glucose syrup is increasingly being used as a thickening. Also, by providing a food grade a shine and varnish, glucose syrup raises the grade's organoleptic value.
COVID-19 Impact Analysis
The outbreak of the COVID-19 pandemic is having an impact on all manufacturers and the entire industry. The long-term effect is anticipated to be noticeable in the industry's growth during the anticipated era. There are many changes that have occurred in consumer demand and purchasing behavior, and investigation shed light on the challenges facing COVID-19. Significant alterations in consumer demand, buying habits, supply chain rerouting, industry trends, and governmental interventions were seen during the pandemic. In the upcoming years, the market is predicted to increase.
Market Growth Factors
Growing Uses Of Glucose Syrup In The Food And Beverage Sector
Cakes and other baked items are in extremely high demand. Additionally, because of its consistency which helps to avoid crystallization, glucose syrup is frequently used in the making of candy. Chefs prefer glucose syrup because it doesn't change the product's look and improves moisture retention, which keeps baked goods fresh. Sugar syrups are more widely used in the confectionery business because they keep a smooth texture and minimize graininess.
The Rise In The Usage Of Glucose Syrup In Pharmaceutical Products
Cough syrups and tonics with vitamin bases frequently contain glucose syrup. Additionally, it serves as the main element in cough lozenges. Glucose syrup is a key component in producing a moderate sweetness, stability, and nice mouth feel. Sugar is often utilized as a pharmaceutical excipient in tablets or capsules to help with appearance, the convenience of transport, and storage in addition to taste and texture. A pill is shielded from the harmful effects of air and moisture once it has been sugar-coated, and it also tastes better and is simpler to swallow after being blended with coloring chemicals.
Market Restraining Factors
High Chances Of Diabetes
Many medical specialists believe that fructose is healthier for diabetics than sugar, however, glucose may be metabolized by every cell in the body. On the other side, the liver is responsible for metabolizing fructose. High fructose corn syrup which includes a lot of free-floating fructose, has been specifically related to diabetes. Glucose syrup has minimal nutritional value, in contrast to fruit, which includes fructose but also has fibre and nutrients to help the body better absorb it. There are only calories & questionable sugar, nothing else.
On the basis of grade, the glucose syrup market is segmented into Beverage, Food and Pharma & Others. Beverage segment recorded the maximum revenue share in glucose syrup market in 2021. Fruit drinks and soft drinks include a significant amount of glucose syrup. Furthermore, during the past few years, the use of soft drinks has surged fivefold. Sales of glucose syrup are anticipated to increase as a result. There are many companies that are launching different drinks with great flavor, which would accelerate the growth of the segment
Based on application, the glucose syrup market is classified into Sweetening Agent, Wine and Others. The sweetening agent segment witnessed a substantial revenue share in the glucose syrup market in 2021. In reality, liquid glucose is simply syrupy sugar. A common pantry product, corn derivative syrup is produced in factories using maize starch and a limited number of chemical processes. Glucose syrup primarily serves as a thickening, condensation, or sweetening agent in the manufacturing of commercial food.
|Market size value in 2021||USD 3.8 Billion|
|Market size forecast in 2028||USD 5.1 Billion|
|Historical Period||2018 to 2020|
|Forecast Period||2022 to 2028|
|Revenue Growth Rate||CAGR of 4.4% from 2022 to 2028|
|Number of Pages||149|
|Number of Tables||260|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling|
|Segments covered||Grade, Application, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Egypt, South Africa, Nigeria|
Region-wise, the glucose syrup market is analyzed across North America, Europe, Asia Pacific and LAMEA. The Asia Pacific emerged as the leading region in the glucose syrup market with the maximum revenue share in 2021. Due to China's and India's expanding need for a sugar substitute and the rising demand for glucose syrup in these nations, the region continues to be the top market. In order to fight diseases like diabetes and obesity, customers are seeking more natural and healthy alternatives to conventional sugar.
Free Valuable Insights: Global Glucose Syrup Market size to reach USD 5.1 Billion by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Dr. August Oetker KG, Archer Daniels Midland Company, Ingredion, Incorporated, AGRANA Beteiligungs-AG, Tate & Lyle PLC, BENEO GmbH (Südzucker AG), Cargill Corporation, Grain Processing Corporation (Kent Corporation), Royal Avebe U.A., and Roquette Freres SA.
Strategies deployed in Glucose Syrup Market
- May-2021: Ingredion entered into an agreement with Amyris, synthetic biotechnology and renewable chemical company. This agreement aimed for the exclusive licensing of Amyris’s zero-calorie, nature-based, fermented Reb M sweetener. The integration of Amyris’s top synthetic biology technology platform to create, scale, and make fermentation-based products with Ingredion’s worldwide market and user reach, formulation offerings, and commercial teams would boost the accessibility and adoption of zero-calorie, nature-based sweeteners and other clean labeled fermentation-based food ingredients to the world’s top food and beverage enterprises.
- Feb-2021: Tate & Lyle acquired an 85% shareholding in Chaodee Modified Starch, a well-established tapioca-modified food starch manufacturer located in Thailand. This acquisition aimed to expand Tate & Lyle's presence in specialty tapioca-based restaurants and enable companies to provide a wider range of tapioca-based solutions to fulfill customers’ requirements for better tasting and clean label foods.
- Nov-2020: Ingredion launched Stablesweet LD low sugar glucose syrup. This launch would expand the company's portfolio of sugar reduction and specialty sweetener solutions across the Middle East and Africa.
- Jul-2020: Cargill released C?TruSweet 01795, a new sweetener. This product would allow a 30% sugar and calorie reduction in beverages and other food applications through less usage levels.
- Jul-2020: Ingredion took over PureCircle Limited, the world’s leading producer and innovator of plant-based stevia sweeteners & flavors for the food & beverage sector. This acquisition aimed to improve the Driving Growth Roadmap and further align the company's sugar reduction and specialty sweetener platform to the megatrends in the food & beverage sector.
- Sep-2018: Cargill signed an agreement to acquire Konspol, a leading value-added food company. This acquisition aimed to release Cargill’s global protein business into the Polish market and would strengthen the company’s global poultry footprint, expanding operations to 14 nations.
- Jul-2018: Archer Daniels Midland Company formed a joint venture with Aston Foods and Food Ingredients. This venture aimed to offer sweeteners and starches to users in Russia. In addition, this new joint venture would witness the two firms, partners, own and manage Aston subsidiary AKP, which would provide key customers in the Russian food and beverage industry.
Scope of the Study
Market Segments Covered in the Report:
- Pharma & Others
- Sweetening Agent
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Dr. August Oetker KG
- Archer Daniels Midland Company
- Ingredion, Incorporated
- AGRANA Beteiligungs-AG
- Tate & Lyle PLC
- BENEO GmbH (Südzucker AG)
- Cargill Corporation
- Grain Processing Corporation (Kent Corporation)
- Royal Avebe U.A.
- Roquette Freres SA
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