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Market Research Future (MRFR) in its latest report projects that the global glucose syrup market will grow at 3.6% CAGR from 2016 to 2023. Towards the end of the assessment period, nearly 29,888 Kilo tons of glucose syrup is expected to be consumed worldwide. There is a sharp rise in demand for glucose syrup across verticals such as pharmaceuticals, F&B and confectionary among others. This augmented demand is partly owing to the increased efforts to replace sugar and sweeteners in processed food. Glucose syrup uptake in candies, chewing gums, chocolates, canned foods and ice-cream products is a major factor driving the market growth. Investment in glucose syrup has increased significantly as it is seen as a healthier option compared to other similar traditional ingredients such as table sugar.
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Glucose syrup has an extremely pleasant taste, which makes it eligible for use in various flavourful food items. The syrup is also used in oral medicines to diffuse the strong flavour some of them possess and thereby making it easier to consume. Glucose syrup has low risk of spoilage and has a long shelf-life. Liquid based glucose syrup is popularly used in product such as candies and jellies as a humectant due to its moisture content. In addition, it finds widespread application in ice-cream as an anti-crystallization agent. Glucose syrup is also gaining traction as a thickener agent. Food brands are utilizing glucose syrup to add a desirable texture (glaze, thickness, etc.) and thereby improving the organoleptic properties of products.
The segmental analysis of the global Glucose Syrup Market has been conducted based on source, grade, form, application, and region.
Based on source, the market has been segmented into wheat, potatoes, cassava, corn, barley, rice, and others. The corn segment is expected to see a strong growth during the forecast period. Corns remain the primary source of glucose syrup while wheat is the second most common source of glucose syrup.
Based on grade, the market has been segmented into industrial, pharma, food, and others. The food grade segment will continue to witness sound growth during the assessment period. In terms of revenue, the food grade glues syrup occupies the largest size in the pie.
Based on form, the market has been segmented into granular, liquid and others. The liquid segment holds the brightest market prospects. Liquide glucose syrup can be easily transported and have higher shelf-life compared to other forms of glucose syrup. During the forecast period, the liquid segment is projected to capture 3.85% CAGR. Meanwhile, the granular segment is like to hold the second spot during the forecast period.
On the basis of application, the market has been segmented into pharmaceuticals, confectionery, beverage, food and other. The food segment is expected to remain high attractive in 2019 and beyond. This can be attributed to the substantial use of glucose syrup in food products.
Global Glucose Syrup Market: Regional Segmentation
The regions discussed in MRFR’s report include Asia Pacific, Europe and North America. In its projected that the global glucose syrup market will be dominated by APAC during the forecast period. The region currently command for over 30% share of the global market. North America, following on the heels of Asia Pacific holds the second spot. The market in North America is expected to post the fastest growth during the assessment period.
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MRFR report includes a detailed competition outlook for the global glucose syrup market where some of the leading market players have been discussed, namely Archer Daniels Midland Company (U.S.), Ingredion Incorporated (U.S.), Grain Processing Corporation (U.S.), Tate & Lyle plc (U.K.), Agrana Group (Austria), Roquette (France), and Cargill Inc. (U.S.)
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