Market Overview

MRFR (Market Research Future) expects the glucose syrup market 2020 to cover significant grounds at a rate of 3.6% from 2016 to 2022 (projection period). We will provide COVID-19 impact analysis with the report, along with all the extensive key developments in the market post the coronavirus disease outbreak.

Top Drivers and Barriers

Glucose syrup remains quite popular among consumers due to its extended shelf life and the fact that it is a better substitute for conventional sugar. Anti-crystal, nontoxicity, preservative and anti-freezing humectant properties boost glucose syrup’s appeal and demand as well. The glucose syrup product is widely used as a thickener and sweetener and its ability to varnish food-grade by glazing it, has raised its organoleptic value in the food and beverage sector. Glucose syrup’s rich moisture content makes it ideal for use in preparing candies and jellies. The ice cream industry has emerged as a significant end-user in the glucose syrup market, where it helps prevent crystallization.

Glucose syrup is a substantial source of energy for yeast, which has translated into its extensive use in the brewery industry. Glucose syrup has high amount of short carbohydrate, which makes it easily digestible by infants and elderly individuals. Cereal sweeteners enjoy massive demand in the soft drinks industry, with the latter emerging quite lucrative in emerging markets of South America and Asia Pacific. Although aerated drinks and juices can be sweetened with the use of low-calorie syrups or saccharose sugar, glucose syrups have now sparked the interest of the developing countries, which can be a lucrative opportunity for the top players in the global market.

Furthermore, well-established private label vendors, rising need to curb costs and the increasing spending on RD activities could also foster revenue generation in the glucose syrup market. Given the emerging trend of health consciousness and fitness among consumers, players are frequently launching products that contain low to no sugar that do not cause weight gain.

To cite an instance, in November 2020, Ingredion EMEA expanded its range of specialty sweeteners and sugar reduction solutions across Africa and Middle East, by launching Stable sweet LD low sugar glucose syrup. It is derived from corn and helps companies develop products with higher shelf-life, while bringing down the sugar content. The glucose syrup has applications in lollipops, chewy sweets, jellies, gummies and hard boiled candy.

Major Industry Vendors

Vendors with a robust foothold in the global industry include Tate Lyle plc (U.K.), Roquette (France), Agrana Group (Austria), Cargill Inc. (U.S.), Archer Daniels Midland Company (U.S.), Ingredion Incorporated (U.S.), Grain Processing Corporation (U.S.), and more.

Market for Glucose Syrup Segmentation

Aimed at producing a bird’s view of the glucose syrup industry, the report has considered source, grade and application as key segments.

The main sources from which glucose syrup is derived include wheat, corn, potatoes, barley, cassava, rice, and more. Corn and then wheat are the leading and second leading segments in the market, respectively.

Grade-based market segments are industrial, pharma, food and more. Substantial consumption of glucose syrup in the food sector will ensure food grade segment’s lead in the global market in the coming years.

Form-wise, the key market categories are granular, liquid, and others. Liquid form, followed by granular, is scaling the market at the fastest rate of 3.85 %.

Pharmaceuticals, beverage, confectionery, food, and more are the top applications of glucose syrup. Food-based application should secure the top spot in the glucose syrup market over the review period.

Regional Study

The regional study of the glucose syrup industry covers Asia Pacific or APAC, Middle East and Africa or MEA and North America along with Europe.

The glucose syrup business has been the most lucrative in APAC in the past few years, with India and China having taken the lead. Consumers in the region are increasingly opting for healthier and more natural alternative to sugar, in view of the rising cases of obesity and diabetes. Large-scale production of sugar beet, new firms seeking entry and the surge in organic food items on e-commerce sites can be key growth boosters in the following years.

North America should charge forward at the fastest rate of 3.94% in the years to follow, thanks to the substantial corn subsidies granted by the government along with other farm subsidies. The amplified demand for convenience food along with personal care products where glucose syrup is an essential component, also favors the North American market.