Global High Fructose Corn Syrup Market Report and Forecast 2023-2028

Global High Fructose Corn Syrup Market Report and Forecast 2023-2028


Market Outlook

According to the report by Expert Market Research (EMR), the global high fructose corn syrup market reached a value of USD 8.7 billion in 2022. Aided by the growing demand for sweetened food and beverage products and the cost-effectiveness of HFCS compared to traditional sweeteners, the market is projected to further grow at a CAGR of 1.7% between 2023 and 2028 to reach a value of USD 9.57 billion by 2028.

High fructose corn syrup is a liquid sweetener made from corn. It is used extensively in processed foods and beverages due to its sweetness and versatility. HFCS is a key ingredient in a multitude of products, including soft drinks, bakery items, sauces, and cereals, as it not only sweetens but also enhances flavour, colour, and stability.

The primary driver for the high fructose corn syrup market growth is its cost-effectiveness. HFCS is often cheaper than sucrose and other traditional sweeteners due to the abundance and relative stability of corn prices. This cost advantage makes it the preferred choice for food and beverage manufacturers, particularly in the soft drink sector, which is a major consumer of HFCS.

Further, HFCS’s consistent quality and high solubility make it a highly desirable ingredient in processed foods. Its ability to maintain the freshness of products and extend their shelf life is an additional advantage, attracting the attention of producers of baked goods, canned fruits, and other perishable items.

Moreover, as international trade in sweeteners becomes more liberal and tariffs on products such as HFCS are reduced or eliminated, global market access for HFCS is likely to increase, thereby boosting the global high fructose corn syrup market demand.

Despite a few challenges, new applications for HFCS are emerging. For instance, it is increasingly being used in the production of alcoholic beverages, as a fermentable sugar, and in pharmaceuticals as a sweetener in liquid medications, due to its high solubility and stability. These expanding applications may help to offset declines in demand from traditional sectors.

North America is accounts for a significant portion of the high fructose corn syrup market share, driven by the extensive use of this sweetener in various food and beverage products in the United States. The Asia-Pacific region is anticipated to be a rapidly growing market due to the increasing westernization of diets and the growing food and beverage sector in these areas.

Market Segmentation

The market can be divided based on type, application, and region.

Market Breakup by Type
  • HFCS 42
  • HFCS 55
  • Others
Market Breakup by Application
  • Food and Beverages
  • Pharmaceuticals
  • Animal Feed
  • Others
Market Breakup by Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global high fructose corn syrup market. Some of the major players explored in the report by Expert Market Research are as follows:
  • Cargill, Incorporated
  • Ingredion, Incorporated
  • Tata and Lyle PLC
  • Archer Daniel Midland Company
  • AGRANA Beteiligungs-AG
  • Roquette Frères
  • Showa Sangyo Co Ltd
  • Tereos Group
  • Daesang Corporation
  • Kasyap Sweetners Limited
  • Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.


1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global High Fructose Corn Syrup Market Overview
8.1 Global High Fructose Corn Syrup Historical Supply (2018-2022)
8.2 Global High Fructose Corn Syrup Supply Forecast (2023-2028)
8.3 Global High Fructose Corn Syrup Historical Demand (2018-2022)
8.4 Global High Fructose Corn Syrup Demand Forecast (2023-2028)
8.5 Global High Fructose Corn Syrup Market by Type
8.5.1 HFCS 42
8.5.1.1 Historical Trend (2018-2022)
8.5.1.2 Forecast Trend (2023-2028)
8.5.2 HFCS 55
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.5.3 Others
8.6 Global High Fructose Corn Syrup Market by Application
8.6.1 Food and Beverages
8.6.1.1 Historical Trend (2018-2022)
8.6.1.2 Forecast Trend (2023-2028)
8.6.2 Pharmaceuticals
8.6.2.1 Historical Trend (2018-2022)
8.6.2.2 Forecast Trend (2023-2028)
8.6.3 Animal Feed
8.6.3.1 Historical Trend (2018-2022)
8.6.3.2 Forecast Trend (2023-2028)
8.6.4 Others
8.7 Global High Fructose Corn Syrup Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2022)
8.7.1.2 Forecast Trend (2023-2028)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2022)
8.7.2.2 Forecast Trend (2023-2028)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2022)
8.7.3.2 Forecast Trend (2023-2028)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2022)
8.7.4.2 Forecast Trend (2023-2028)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2022)
8.7.5.2 Forecast Trend (2023-2028)
9 North America High Fructose Corn Syrup Market
9.1 United States
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
10 Europe High Fructose Corn Syrup Market
10.1 United Kingdom
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 France
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific High Fructose Corn Syrup Market
11.1 China
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 India
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
11.5 South Korea
11.5.1 Historical Trend (2018-2022)
11.5.2 Forecast Trend (2023-2028)
11.6 Australia
11.6.1 Historical Trend (2018-2022)
11.6.2 Forecast Trend (2023-2028)
11.7 Others
12 Latin America High Fructose Corn Syrup Market
12.1 Brazil
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa High Fructose Corn Syrup Market
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Historical Trend (2018-2022)
13.4.2 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
15 Price Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Cargill, Incorporated
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Ingredion, Incorporated
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Tata and Lyle PLC
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Archer Daniel Midland Company
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 AGRANA Beteiligungs-AG
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Roquette Frères
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Showa Sangyo Co Ltd
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Tereos Group
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 Daesang Corporation
16.2.9.1 Company Overview
16.2.9.2 Product Portfolio
16.2.9.3 Demographic Reach and Achievements
16.2.9.4 Certifications
16.2.10 Kasyap Sweetners Limited
16.2.10.1 Company Overview
16.2.10.2 Product Portfolio
16.2.10.3 Demographic Reach and Achievements
16.2.10.4 Certifications
16.2.11 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global High Fructose Corn Syrup Market: Key Industry Highlights, 2018 and 2028
2. Global High Fructose Corn Syrup Historical Market: Breakup by Type (USD Million), 2018-2022
3. Global High Fructose Corn Syrup Market Forecast: Breakup by Type (USD Million), 2023-2028
4. Global High Fructose Corn Syrup Historical Market: Breakup by Application (USD Million), 2018-2022
5. Global High Fructose Corn Syrup Market Forecast: Breakup by Application (USD Million), 2023-2028
6. Global High Fructose Corn Syrup Historical Market: Breakup by Region (USD Million), 2018-2022
7. Global High Fructose Corn Syrup Market Forecast: Breakup by Region (USD Million), 2023-2028
8. North America High Fructose Corn Syrup Historical Market: Breakup by Country (USD Million), 2018-2022
9. North America High Fructose Corn Syrup Market Forecast: Breakup by Country (USD Million), 2023-2028
10. Europe High Fructose Corn Syrup Historical Market: Breakup by Country (USD Million), 2018-2022
11. Europe High Fructose Corn Syrup Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Asia Pacific High Fructose Corn Syrup Historical Market: Breakup by Country (USD Million), 2018-2022
13. Asia Pacific High Fructose Corn Syrup Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Latin America High Fructose Corn Syrup Historical Market: Breakup by Country (USD Million), 2018-2022
15. Latin America High Fructose Corn Syrup Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Middle East and Africa High Fructose Corn Syrup Historical Market: Breakup by Country (USD Million), 2018-2022
17. Middle East and Africa High Fructose Corn Syrup Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Global High Fructose Corn Syrup Market Structure

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