New York, US, Jan. 24, 2023 (GLOBE NEWSWIRE) -- Glucose Syrup Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), Glucose Syrup Market Information By Source, Grade, Form, Application, And Region - Forecast till 2030"; the market will reach USD 5.2 Billion by 2030, an 5.45% CAGR
Market Synopsis
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 need for glucose syrup is driven by its non-toxic, anti-crystal, anti-freezing, humectant, and preservation qualities. In addition to being used as a sweetener, glucose syrup is increasingly used as a thickener. Additionally, glucose syrup raises the grade's organoleptic value by giving a food grade a shine and varnish. As a result of the hydrolysis of the glucose molecule, glucose syrup is a sweetening liquid typically made from starchy foods like corn, rice, wheat, and potatoes.
Making candies and frozen desserts uses glucose syrup. Baked goods are also made with glucose syrup. 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. Additionally, it is anticipated that the leading players in the market would see an increase in revenue due to the popularity of private-label brands, the growing desire to reduce costs, and industry-wide expenditures.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 5.2 Billion |
| CAGR | 5.45% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Source, Grade, Form, Application, And Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Rise In Demand For Bakery Products |
| Higher Focus On Research And Development |
Market Competitive Landscape:
The pivotal contenders in the glucose syrup market are:
- Cargill,
- Archer Daniels Midland Company,
- Tate & Lyle
Market U.S.P. Covered:
Market Drivers:
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, medicines, and food & drinks. Due to the increased demand for sugar substitutes, glucose syrups are also utilized to produce ice cream, chewing gum, chocolate, and canned foods. Another reason that has raised the market's consumption of glucose and is anticipated to continue doing so in the coming years is the rise in consumer awareness of health issues and their advantages.
Additionally, the demand for glucose syrup has grown due to its ability to avoid crystallization during the creation of sweets, which predicted a global market rise. When baked goods are elegantly constructed, the glucose syrup does not detract from their beauty and helps to promote moisture retention, keeping the baked goods fresh. The increased demand for glucose syrup is partly a result of its fantastic replacement for traditional granulated sugar.
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Market Restraints:
The market's expansion is being constrained by the rising demand for gums as a substitute for glucose, dextrose, and maltodextrin. Additionally, the negative effects of consuming large amounts of glucose syrup are hindering market expansion. Public food systems, a shift away from ineffective sugar rationing, and declining prices due to market fragmentation are additional market challenges.
COVID 19 Analysis
A global health emergency called COVID-19 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. Research in progress predicts that the COVID-19 challenges and likely future directions will strengthen the research framework and ensure better production integration. Significant changes have occurred in consumer demand and purchasing behavior, and our investigation shed light on the challenges facing COVID-19. Significant alterations in consumer demand, buying habits, supply chain rerouting, market dynamics, and governmental interventions were seen during the contagion.
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Market Segmentation
By application, the market includes food, beverage, pharmaceuticals, and confectionery. By form, the market includes liquid and granular. By source, the market includes wheat, corn, barley, potatoes, rice, and cassava. By grade, the market includes food, industrial, and pharma.
Regional Insights
North America is anticipated to grow and see strong growth during the projected period and will require farm subsidies from the government. Good growth is anticipated in North America over the forecast period due to the government's support for agriculture. Since the United States has the most stable economy, this region has the most markets focused on just the United States, Canada, and Mexico. The largest share of the market was in Asia-Pacific. Due to the rising need for a sugar alternative and the rising demand for glucose syrup in these nations, China and India continue to hold the top two positions in the market.
Consumers are looking for more natural and healthy alternatives to conventional sugar to combat diabetes and obesity. Due to increased demand for syrup in France and Germany, Europe is anticipated to rank among the top regional markets throughout the forecast period. Due to improving eating habits and the uptake of western culture in developing nations, the Asia-Pacific region is expected to experience the fastest growth in the global market. The introduction of new players and brands, the accessibility of organic snacks on e-commerce platforms in nations like China and India, and other factors are all expected to contribute to the market's expansion. Russia's massive sugar beet production is expected to spur significant growth.
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