Newark, May 14, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 5.2 Billion glucose syrup market will reach USD 9.76 Billion by 2033. Increasing demand for sugar sweetener alternatives, increasing strategic initiatives by the private players in the global market may fuel the growth of the Glucose Syrup Market. The rising adoption of non-sugar sweeteners for weight management is contributing to the growth of the glucose syrup market. Glucose syrup is recognized as a cost-effective substitute for sugar, offering a comparable level of sweetness to sucrose. This characteristic makes it an appealing option as a sugar alternative.
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Glucose Syrup Market Size by Application (Food & Beverage, Pharmaceuticals, and Others) Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2024 to 2033
APAC emerged as the largest global Glucose Syrup market, accounting for 42% of the total market. Owing to increasing demand of Glucose Syrup in the APAC countries such as, India and China. Whereas Europe exhibits the highest growth rate in the market owing to increasing product launches from various market players and entry of new market players in the market.
The food and beverage industry is anticipated to secure a substantial market share, estimated to reach 65% in the year 2023
The food and beverage industry is anticipated to secure a substantial market share, estimated to reach 65% in the year 2023. This sector is forecasted to undergo rapid expansion, propelled by increased demand for sweeteners in confectionery, the burgeoning bakery sector, and the rising usage of glucose syrup in the production of fruit drinks and soft drinks. Glucose syrup's adaptability, functioning as a sugar alternative, prolonging product shelf life, and improving taste and texture, play a pivotal role in its widespread adoption across the food industry. Consequently, these factors are expected to drive market growth throughout the forecast period.
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Latest Development:
• In June 2023, Cargill partnered with the University of Cambridge to research the utilization of glucose powders in eco-friendly food packaging. This collaboration aims to explore innovative methods of incorporating glucose powders into food packaging materials to enhance sustainability.
• In March 2023, Ingredion Incorporated completed the acquisition of Agrana Group, a prominent producer of glucose powders. This strategic move enables Ingredion Incorporated to broaden its range of products and access new market segments, facilitating further growth and expansion opportunities.
• In October 2017, Ingredion Inc. launched a new range of low-sugar glucose syrups in the US and Canada. Known as VERSASWEET low-sugar glucose syrups, these products empower manufacturers in the confectionery, dairy, ice cream, and baked goods industries to lower the sugar content displayed on the Nutrition Facts panel. This is achieved by using low-sugar corn- or tapioca-based glucose syrups, which have a reduced proportion of mono- and disaccharides, referred to as DP1 + DP2, compared to standard glucose syrups.
Market Dynamics
Drivers: Increasing demand for baked goods
The growing demand for baked goods like waffles, pancakes, and similar items is a significant driver behind the expansion of the global glucose syrup market. Additionally, increased consumer awareness regarding the health benefits associated with glucose syrup consumption is expected to fuel market growth in the coming years. Its utilization in sweets production aids in preventing crystallization, thereby supporting its integration into the confectionery industry. Moreover, the incorporation of glucose syrup in baked goods enhances moisture retention, thereby extending freshness. Its usage in confectionery products to prevent rough textures further contributes to market growth. The escalating demand for convenience foods, coupled with the increased application of glucose syrup in various products, including ice cream, chewing gum, chocolate, and canned foods, as a sugar substitute, also drives market expansion. Notably, glucose syrup's extended shelf life makes it an attractive option compared to conventional granulated sugar, allowing for prolonged storage.
Restraints: Increasing side effects associated with Glucose Syrup
An expanding base of research is demonstrating a connection between the overconsumption of sugars, glucose syrup included, and a range of health problems, including obesity, type 2 diabetes, cardiovascular diseases, and dental issues. With heightened consumer awareness about these health risks, there's a discernible move toward seeking healthier and more natural sweetening options. This shift is influencing the demand for glucose syrup negatively.
Opportunities: Increasing demand for sugar sweetener alternatives
The rising adoption of non-sugar sweeteners for weight management is contributing to the growth of the glucose syrup market. Glucose syrup is recognized as a cost-effective substitute for sugar, offering a comparable level of sweetness to sucrose. This characteristic makes it an appealing option as a sugar alternative.
Challenge: Increasing demand to curb diabetes in the market
The increasing consumer awareness regarding the health hazards linked with excessive sugar intake is driving a demand surge for healthier substitutes to conventional sweeteners like glucose syrup. This shift in consumer preference presents a hurdle for the glucose syrup market, compelling manufacturers to innovate and cater to the rising need for low-glycemic and natural sweetener options.
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Some of the major players operating in the Glucose Syrup market are:
• Cargill Inc
• Agrana Group
• Avebe U.A
• Bakers Kitchen
• Archer Daniels Midland
• Beneo
• DGF Service
• Ingredion
• Karo Syrup
• Dr Oetker
Key Segments cover in the market:
By Application:
• Food & Beverage
• Pharmaceuticals
• Others
About the report:
The global Glucose Syrup market is analysed based on value (USD Billion). All the segments have been analysed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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