Glucose Syrup - Market Insights, Competitive Landscape, and Market Forecast - 2030

Glucose Syrup - Market Insights, Competitive Landscape, and Market Forecast - 2030

Glucose Syrup Market By Application (Food & Beverages, Pharmaceuticals, Cosmetic Industries, And Others), Formulation (Liquid Glucose Syrup And Powdered Glucose Syrup), Source (Corn, Rice, Wheat, And Others), And Geography (North America, Europe, Asia-Pacific, And Rest Of The World) are expected to grow at a steady CAGR forecast till 2030 owing to the increasing demand of glucose syrup in food & beverages industry and growing functional benefits of glucose syrup in pharmaceutical applications.

The glucose syrup market is estimated to grow at a CAGR of 4.91% during the forecast period from 2024 to 2030. The demand for glucose syrup is primarily being boosted by the growing demand of glucose syrup in food & beverages industry. Additionally, the increasing applications and advantages of glucose syrup in the pharmaceutical industries is another key factor which is ensuring the sustained growth and widespread adoption of glucose syrup in various markets, and thus driving the growth of the glucose syrup market during the forecast period from 2024 to 2030.

Glucose Syrup Market Dynamics:

As per the study published under National Library of Medicines (NIH) (2022), “Pharmaceutical Applications of Glucose Syrup from High Quality Cassava Flour in Oral Liquid Formulations” concluded that glucose syrup made from high quality cassava flour (HQCF) can be utilized as a vehicle in the preparation of paracetamol syrup and simple linctus formulations. Furthermore, this glucose syrup can substitute sucrose syrup in these formulations, as it offers equivalent taste masking capabilities without compromising the pharmaceutical quality of the products. Thus, the glucose syrup in various formulations, such as paracetamol syrup and simple linctus, can lead to the development of new, more palatable medications, enhancing patient compliance thereby increasing the future market of glucose syrup.

Additionally, the glucose syrup market is driven by several factors, including the growing demand for convenience foods, the expanding confectionery and bakery industries. The rising consumption of packaged and processed foods, particularly in emerging economies, further propels market growth. Additionally, glucose syrup's use as a humectant, sweetener, and volume-enhancing agent in various food products contributes to improved texture, moisture retention, and overall taste, making it a versatile and essential ingredient in the food industry. Major companies, such as Cargill and Archer Daniels Midland Company, continue to invest in expanding their production capacities to meet this growing demand, underscoring the market's positive outlook.

However, regular intake of glucose syrup can lead to various life style disorders such as obesity, high blood sugar, and heart disease, and the growth in the demand for gums such as guar gum and Arabic gum as an alternative over starch-derived products may hinder the market demand for glucose syrup.

Glucose Syrup Market Segment Analysis:

Glucose Syrup Market by Application (Food & Beverages, Pharmaceuticals, Cosmetic Industries, and Others), Formulation (Liquid Glucose Syrup and Powder Glucose Syrup), Source (Corn, Rice, Wheat, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World).

In the application segment of the glucose syrup market, the food and beverages category is estimated to have a significant revenue share in the glucose syrup market in 2023. The food and beverage industry has significantly boosted the market for glucose syrup through its versatile applications in various products. Glucose syrup is a key ingredient in candies and gummies due to its ability to prevent crystallization and provide a smooth texture. It enhances moisture retention and extends shelf life in baked goods. Glucose syrup serves as a sweetener and energy source in many beverages. Additionally, it improves the texture and prevents crystallization in ice cream, ensuring a creamy consistency. Glucose syrup is used to enhance texture and stability in sauces and dressings. Glucose syrup provides a quick energy source in energy bars and sports drinks. Various food and beverage companies use glucose syrup extensively in their products, which significantly boosts the market for glucose syrup.

Thus, according to the above mentioned factors the food and beverage industry, will have significant revenue share in the glucose syrup market, which will in return drive the glucose syrup market during the forecast period.

North America Is Expected To Dominate The Overall Glucose Syrup Market:

North America is expected to account for the highest proportion of the global glucose syrup market in 2023, out of all regions. This can be attributed to the ongoing demand from key industries and the development of new applications. Innovations in food processing and the introduction of new product lines that cater to health-conscious consumers are expected to sustain market growth. Additionally, the increasing use of glucose syrup in non-food applications such as pharmaceuticals and cosmetics serves as a key driver for the growth of the sugar syrup market in North America.

According to the Food and Drug Administration (2023), corn syrup, also known as glucose syrup, is listed under 21CFR184.1865 as safe and suitable for use in food, with no limitations other than adherence to current good manufacturing practices. Thus, this FDA designation significantly boosts the market for glucose syrup in the food and beverage industry by providing a strong endorsement of its safety and suitability as this assurance can lead to increased confidence among food and beverage producers in incorporating glucose syrup into their products thereby boosting the market of glucose syrup.

Additionally, glucose syrup is a key ingredient in candies, gummies, and chocolates due to its ability to prevent crystallization and provide a smooth texture. Companies like Mars and Haribo use glucose syrup in their products to maintain consistency and extend shelf life. Glucose syrup is also used in cough syrup and liquid medications due to its soothing properties. It helps to mask bitter tastes and improve palatability, making it easier for consumers to take medications. Glucose syrup is also used in health supplements, including vitamins and energy bars, where it acts as a binder and provides a quick source of energy.

The future outlook for the glucose syrup market in the United States remains positive, driven by continued innovation in product formulations and the expansion of its applications across various industries. As consumer preferences evolve towards healthier options, manufacturers are likely to develop glucose syrup blends and alternatives that meet regulatory requirements and consumer demand for reduced sugar products.

In conclusion, the market for glucose syrup in the United States continues to expand due to its essential role across multiple industries. Its versatility, functional benefits, and widespread adoption by major manufacturers ensure its continued relevance and growth in the global market.

Glucose Syrup Market Key Players:

Some of the key market players operating in the glucose syrup market include Cargill, Incorporated, Archer Daniels Midland Company (ADM), Ingredion Incorporated, Roquette Frères, Tereos FKS, Global Sweeteners Holdings Limited, Shandong Zhonggu Starch Sugar Co., Ltd., Gulshan Polyols Ltd., Manildra Group, HL Agro Products Pvt. Ltd., Makendi WorldWide, Hefei TNJ Chemical Industry Co.,Ltd., Dr. Oetker, Queen Fine Foods, Avebe U.A., and others

Recent Developmental Activities In The Glucose Syrup Market:

In January 2024, Tate & Lyle PLC announced that the Australian Patent Office upheld their patent claims for the manufacturing and use of stabilized allulose syrup (made of glucose or corn), despite challenges from multiple organizations. This decision reinforces Tate & Lyle’s leadership in allulose innovation, and they will continue to defend their patents against ongoing appeals.

In October 2023, Tate & Lyle PLC announced a major investment in their corn wet mill in Boleráz, Slovakia. This investment will expand their production capacity for PROMITOR® Soluble Fibres, a leading non-GMO product used in healthier food and beverages.

Key Takeaways From The Glucose Syrup Market Report Study

Market size analysis for current glucose syrup market size (2023), and market forecast for 6 years (2024 to 2030)

Top key product/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years

Key companies dominating the global glucose syrup market.

Various opportunities available for the other competitors in the glucose syrup market space.

What are the top-performing segments in 2023? How these segments will perform in 2030?

Which are the top-performing regions and countries in the current glucose syrup market scenario?

Which are the regions and countries where companies should have concentrated on opportunities for glucose syrup market growth in the coming future?

Target Audience Who Can Be Benefited From This Glucose Syrup Market Report Study

Glucose syrup product providers

Research organizations and consulting companies

Glucose syrup-related organizations, associations, forums, and other alliances

Government and corporate offices

Start-up companies, venture capitalists, and private equity firms

Distributors and Traders dealing in glucose syrup

Various end-users who want to know more about the glucose syrup market and the latest technological developments in the glucose syrup market.

Frequently Asked Questions For The Glucose Syrup Market:

1. What is glucose syrup?

Glucose syrup, also known as confectioner's glucose, is a syrup made from the hydrolysis of starch. It is commonly derived from corn starch but can also be made from wheat, potatoes, rice, or cassava. Glucose syrup is composed primarily of glucose, with varying amounts of maltose and other oligosaccharides, depending on the degree of hydrolysis.

2. What is the market for glucose syrup?

The glucose syrup market is estimated to grow at a CAGR of 4.91% during the forecast period from 2024 to 2030.

3. What are the drivers for the global glucose syrup market?

The demand for glucose syrup is primarily being boosted by the growing demand of glucose syrup in food & beverages industry. Additionally, the increasing applications and advantages of glucose syrup in the pharmaceutical industry is another key factor which is ensuring the sustained growth and widespread adoption of glucose syrup in various markets, and thus driving the growth of the glucose syrup market during the forecast period from 2024 to 2030.

4. Who are the key players operating in the global glucose syrup market?

Some of the key market players operating in the glucose syrup market includes Cargill Incorporated, Archer Daniels Midland Company (ADM), Ingredion Incorporated, Roquette Frères, Tereos FKS, Global Sweeteners Holdings Limited, Shandong Zhonggu Starch Sugar Co., Ltd., Gulshan Polyols Ltd., Manildra Group, HL Agro Products Pvt. Ltd., Makendi WorldWide, Hefei TNJ Chemical Industry Co.,Ltd., Dr. Oetker, Queen Fine Foods, Avebe U.A., and others

5. Which region has the highest share in the global glucose syrup market?

North America is expected to account for the highest proportion of the global glucose syrup market in 2023, out of all regions. The can be attributed by the ongoing demand of glucose syrup from key industries such as food and beverages and pharmaceuticals. Additionally, increasing innovations in food processing and the introduction of new product lines that cater to health-conscious consumers are expected to sustain market growth. Further, the increasing use of glucose syrup in non-food applications such as cosmetics and others presents new opportunities for market expansion.