Global Corn Sweetener Market - 2024-2031

Global Corn Sweetener Market - 2024-2031

The global corn sweetener market reached US$ YY million in 2023 and is expected to reach US$ YY million by 2031, growing at a CAGR of YY% during the forecast period 2024-2031.

Corn sweeteners are a key ingredient in many food and beverage products, offering a versatile and cost-effective alternative to traditional sweeteners.

Corn sweeteners have various applications including a wide range of food and beverage products, including beverages, baked foods, dairy and desserts, and other food items. These sweeteners are used to enhance flavor and sweetness in various food and beverage products, catering to different consumer preferences and dietary needs.

A syrup known as corn sweetener can be used in place of sugar. It goes by many names, including dextrose and corn syrup. Through a wet milling process, corn sweeteners are produced from maize starch. Due to their ability to provide sweetness and stability at a sugar, they have grown in popularity over the past few decades.

Corn, high fructose, and crystalline fructose corn syrup do not contain artificial ingredients or color additives. Crystalline fructose consists primarily of fructose. Fructose and glucose are found in many other naturally-occurring foods.

Market Dynamics: Drivers

Growing Demand for Corn Sweeteners in the Food and Beverage Industry

The demand for the global corn sweetener market is driven by multiple factors. Corn sweeteners are becoming increasingly well-liked as healthy, low-calorie substitutes for table sugar and synthetic sweeteners. The growing consumer awareness of the health benefits linked to the use of corn sweeteners is driving the global demand for these products.

Manufacturers of food and beverages are working hard to develop products with corn sweeteners as an ingredient. Compared to other conventional ingredients like sugar or artificial sweeteners, these products offer superior taste, texture, quality, and nutritional value. Additionally, food and beverage companies are working with nearby farmers to guarantee the availability of raw materials for their manufacturing processes. This guarantees stable corn sweetener prices at the retail level, further encouraging consumers worldwide to use it.

In addition, key players in the market launch new products and partnerships in the F&B industry helps to drive this market growth. For instance, in May 2024, GreenLab partnered with Ginkgo Bioworks to scale up the production of Brazzein,(a high fructose corn syrup) a novel sweetener. The novel sweetener has a sweetness factor up to 2,000 times greater than sucrose and finds widespread applications across F&B products.

Also, in December 2023, Matco Foods Limited, one of the largest rice exporters in Pakistan, announced the start of commercial operations of its new plant that produces dextrose monohydrate, a form of corn sugar used in the food and beverage industry.

Restraints

Factors such as health concerns associated with excessive consumption of high-fructose corn syrup (HFCS), fluctuating raw material prices, increasing preference for natural and minimally processed foods, stringent government regulations, and competition from alternative sweeteners are expected to hamper the market.

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Segment Analysis

The global corn sweetener market is segmented based on type, application, form, distribution channel, and region.

The low-calorie segment accounted for approximately 56.4% of the global corn sweetener market share

The low-calorie segment is expected to hold the largest market share over the forecast period. Sugar that is derived from the corn kernel is known as corn sweetener. It is available in both high-calorie and low-calorie varieties. The amount of calories in these two varieties is their primary distinction. A serving of a high-calorie corn sweetener contains more than 130 calories, whereas a serving of a low-calorie corn sweetener contains less than 130 calories.

With the increasing health awareness, there has been a huge demand for refined sugar substitutes in the market that would provide fewer or no calories and possess similar sweetening potential.

On the other hand, to bake foods like bread, cakes, pastries, and other baked goods, corn sweeteners are frequently used. In addition to serving as a preservative, corn sweetener makes baked goods sweeter and improves flavor. It is also used in doughnut production to give doughnuts their distinctive crispiness. Additionally, they are utilized in bakery goods like scones, muffins, and bread.

Moreover, major players in the industry introduce innovative technology, and investments in the corn syrup industry would propel the market growth. For instance, in November 2022, Novozymes launched the first enzymatic corn separation solution ever, revolutionizing the industry by allowing starch manufacturers to run their corn mills in a more efficient way which is not possible with mechanical separation only. The new enzymatic solution Frontia Prime from Novozymes enables corn starch and sweetener manufacturers to further increase their yields, save additional energy, and cut, even more, their CO2 emissions. Frontia Prime is the second-generation corn separation enzyme.

Also, in September 2022, Cargill opened its wet corn mill in Pandaan, Pasuruan, Surabaya, to satisfy the rising demand in the starches, sweeteners, and feed markets in Asia and Indonesia. The local economy is anticipated to gain from constructing this USD 100 million (IDR 1.3 trillion) facility, which was done amid the pandemic. Up to 4,000 new jobs and employment opportunities are also anticipated, as well as support for the growth of Indonesia's food and beverage sector.

Geographical Analysis

North America accounted for approximately 23.6% of the global corn sweetener market share

North America region is expected to hold the largest market share over the forecast period. A type of food additive known as corn sweeteners is used to flavor and sweeten products like cookies, cakes, and other baked goods. Increased consumer preference for processed foods made with natural ingredients is the main factor causing this growth. Corn syrup, a naturally occurring sugar source, is increasingly preferred by consumers over artificial sweeteners like high-fructose corn syrup (HFCS).

Manufacturers in North America have increased the production of natural corn syrups in response to this demand, boosting the region's market share. A bigger market presence in North America is also aided by increased consumption of quick snacks like candy bars and cakes.

Key players operating in the North American market focus on new product launches, collaborations, and partnerships to expand their market presence.For instance, in March 2023, Voortman. the No. 1 crème wafer brand and No. 1 zero sugar cookie brand in the United States, has introduced a delicious new zero sugar offering to its portfolio, Zero Sugar Mini Wafers. The new Mini Wafers come in two delectable flavors, vanilla and chocolate. Baked with real vanilla or cocoa, the poppable, shareable wafers contain no artificial flavors or colors, no high-fructose corn syrup, and are packaged in resealable stand-up pouches.

Also, in October 2023, Ingredion announced a partnership with DuPont de Nemours to develop a new, low-calorie sweetener derived from corn. This collaboration aims to create a next-generation sweetener option for the food and beverage industry.

COVID-19 Impact Analysis

The COVID-19 pandemic significantly impacted the global corn sweetener market. Lockdowns and restrictions imposed to control the spread of the virus led to a decline in consumption of products containing corn sweeteners, such as soft drinks and processed foods. This resulted in lower demand and sales for corn sweetener manufacturers.

The pandemic has accelerated the trend towards healthier and more natural food choices. Consumers are becoming more aware of the potential health risks associated with high-fructose corn syrup (HFCS), a common corn sweetener.

Market Segmentation

By Type
• Low-Calorie
• High-Calorie

By Application
• Beverages
• Baked Foods
• Dairy & Desserts
• Others

By Form
• Dry
• Liquid

By Distribution Channel
• Online
• Offline

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
U.K.
France
Spain
Italy
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
• Middle East and Africa

Competitive Landscape

The major global players in the corn sweetener market include Sweeteners Holdings Limited, Sudzucker, ADM, Cargill, Corn Refiners Association, Ingredion, Tate & Lyle, Tereos, Roquette Frères, and Indiana Sugars among others.

Key Developments

 In February 2024, ADM launched a new line of stevia leaf extracts called Avalon Allulose Series. Naturally occurring cellulose is a sweetener that tastes like sugar but has fewer calories. This launch signifies ADM's diversification beyond traditional corn sweeteners.

 In August 2023, Mintec to launch delivered high fructose corn syrup, dextrose, and sugar Mintec benchmark prices.

 In August 2022, Cargill spent more than $50 million on a sustainable corn syrup plant. It will increase the business's capacity to more sustainably supply the ingredients in response to the rising demand.

Why Purchase the Report??
• To visualize the global corn sweetener market segmentation based on type, application, form, application, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development
• Excel data sheet with numerous data points of global corn sweetener market level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping is available in excel consisting of key products of all the major players.

The global corn sweetener market report would provide approximately 70 tables, 62 figures, and 185 Pages.

Target Audience 2024
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies