Glucose syrup is a sweetener which is commonly used in baked goods and confectioneries. It is made by enzymatic or acidic hydrolysis of starch and yields glucose as the chief constituent. Glucose syrup provides texture, moisture and browning ability to baked products. It helps maintain freshness of baked items and extends their shelf life. The syrup is widely used in commercial bakeries for producing breads, biscuits, pastries and desserts as it contributes to tenderness, volume and shelf life of the products. Growing demand for packaged and ready-to-eat food items is fueling the consumption of glucose syrup.
The glucose syrup market is estimated to be valued at USD 4.5 Bn in 2024 and is expected to reach USD 6.1 Bn by 2031, growing at a compound annual growth rate (CAGR) of 4.9% from 2024 to 2031.
Key players operating in the glucose syrup market are Cargill, Archer Daniels Midland, Tate & Lyle, Ingredion, Roquette.
Rising urbanization and working population has increased the demand for packaged and processed food products which contain glucose syrup. Changing lifestyle and busier schedules are prompting people to opt for conveniently packed food items.
Glucose syrup producers are focusing on developing low calorie and low glycemic index syrups to expand their product portfolios and cater to the needs of health conscious consumers. Technologies such as membrane filtration are helping manufacturers lower glycemic index of glucose syrup.
Market Trends
High fructose corn syrup (HFCS) is gaining popularity as a substitute for glucose syrup due to its sweetness and lower production cost. However, negative health perception of HFCS is driving customers back to glucose syrup.
Artificial intelligence and machine learning technologies are enabling manufacturers to optimize production processes and quality control of glucose syrup. Real-time data analytics is helping reduce wastage and improve productivity.
Market Opportunities
Emerging markets of Asia Pacific and Middle East are expected to present lucrative growth opportunities for glucose syrup producers. Rapid urbanization and rising incomes in these regions are fueling the demand for packaged and processed foods.Expansion into industrial applications such as in paper industry, pharmaceuticals, and cosmetics could present new revenue streams for glucose syrup manufacturers.
Impact of COVID-19 on Glucose Syrup Market Growth
The COVID-19 pandemic has significantly impacted the glucose syrup market. During the initial lockdown phases in early 2020, the demand from food processing and beverage industries dropped sharply as these sectors witnessed production halts and supply chain disruptions. This led to oversupply of glucose syrup. However, as people stayed home for prolonged periods, the demand for packaged and ready-to-eat food products increased rapidly. This drove the demand for glucose syrup from these sectors. Additionally, the demand from pharmaceutical industry remained stable as medicine production was listed under essential services.
As lockdowns eased in late 2020, food processing and beverage production capacities were ramped up gradually. This helped clear the oversupply situation and demand-supply returned to normalcy. However, rising cases of newer virus variants led to periodic lockdowns in 2021 as well. This created uncertainty among buyers and disrupted supply chain activities intermittently. Going forward, continued vaccination drives and development of effective COVID-19 treatments are expected to improve consumer confidence and consumption patterns.
Geographical regions with largest Glucose Syrup market in terms of value are North America and Europe. The strong presence of major food & beverage corporations in these regions drives significant glucose syrup demand. These regions together account for over 50% of global market value. Asia Pacific region is growing the fastest, especially China and India. Rising incomes, westernization of diets and expanding packaged foods industry in developing Asian countries are fueling glucose syrup consumption growth.
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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)