Glucose syrup refers to a syrup made from starch hydrolysis products such as corn starch or wheat starch which contain free glucose, maltose, and higher sugars. It is widely used in wide range of applications including bakery, soups and sauces, dressings, confectionery applications, sweet sauces, and more. The ability of glucose syrup to add texture, humectancy, moistness and sweetness makes it an ideal ingredient for use in various food products.
The global Glucose Syrup Market is estimated to be valued at USD 20.5 billion in 2024 and is expected to exhibit a CAGR of 4.5% over the forecast period 2019-2024.
Key Takeaways
Key players operating in the glucose syrup market are Ingredion Incorporated, Cargill Inc., Tate & Lyle PLC., Roquette, Archer Daniels Midland Company.
The key opportunities in the glucose syrup lie in the increasing demand for healthy alternatives to sugar and substitutes for artificial sweeteners. Manufacturers are developing glucose syrups from alternative sources such as corn, wheat, and potatoes to cater to consumers needs.
Technological advancements in the production process such as development of modified starch and enzymatic processes have increased the efficiency of glucose syrup production. This has enabled manufacturers to produce glucose syrups with desired properties.
Market drivers:
Rising demand for processed food: Glucose syrup finds wide application in processed food products such as baked goods, beverages, soups and sauces, dairy products and confectionery items. The rapid growth of the processed food industry driven by changing lifestyles and increasing disposable incomes is fueling the demand for glucose syrup.
Current Challenges in Glucose Syrup Industry
The glucose syrup industry is facing several challenges currently. Production of glucose syrup requires large amounts of corn which makes the industry dependent on supply and price fluctuations of corn. Any shortage in corn supply or rise in corn prices directly impacts the profitability of glucose syrup producers. Additionally, growing health consciousness among consumers has reduced demand for sugar-based products. Many people prefer natural alternatives to glucose syrup which has added to the challenges for this industry.
SWOT Analysis
Strength: Glucose syrup is widely used in food processing industry for various applications such as bakery, confectionery, beverages etc. due to its functional properties. It provides sweetness, bulk and texture to many food products.
Weakness: Excessive consumption of glucose syrup is linked to health issues like obesity and diabetes due to its high calorie content. Many people prefer natural sweeteners over glucose syrup for health reasons.
Opportunity: Development of low calorie or low glycemic index glucose syrup can expand its application in diet and health foods. Growth in demand for convenient and ready-to-eat food products also provides growth opportunities.
Threats: Stringent regulations regarding usage ofcorn-based sweeteners in food products. Growing popularity of natural sweeteners is a threat.
Geographical Regions of Concentration
In terms of value, the Asia Pacific region accounts for the largest share in the glucose syrup market currently. China is the largest producer and consumer of glucose syrup globally. Other Asian countries like India have also witnessed rapid growth in production and consumption of glucose syrup driven by increasing demand from food processing industry.
Fastest Growing Geographical Region
Africa is considered to be the fastest growing region for glucose syrup market. Countries like Nigeria, South Africa, Kenya etc. are seeing rising demand for packaged and convenience food products which requires glucose syrup. Growing population, changing lifestyle and food habits in Africa create opportunities for glucose syrup producers to expand in this largely untapped market.
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