Global Glucose Syrup Market Size, Share, Opportunities, And Trends By Type (Food Grade, Pharma Grade, Industrial Grade), By Application (Food & Beverages, Pharmaceuticals, Industrial Applications), And By Geography - Forecasts From 2024 To 2029

Glucose syrup is a type of refined and concentrated solution of dextrose, maltose, and higher saccharides, which are commonly obtained from the hydrolysis of starch. Glucose syrup is known to be a thick, sweetish liquid and is less sweet than its globally recognized counterpart, sugar. Glucose syrup is known to have a wide range of applications, which include confectioneries, beverages, sauces, bakery, and pharmaceuticals. It is widely used in the confectionery sector because glucose syrup is known to add volume to sweets products, helping them become chewier, sweeter, and stickier.

Introduction:

The global glucose syrup market is expected to witness an increase in growth during the forecasted period of 2024-2029, due to the increasing growth of the confectionery products market and the increased awareness of glucose syrup as a sugar alternative,

Market Drivers:

• The confectionery products market growth: Confectionery products are one of the major applicants of glucose syrup in the market. Glucose syrup is known for being used as a sweetening agent, thickener, and moisture-retaining agent, and is often used to make several products in the market, which include candy, beer, and certain canned and premade baked goods. The increase in the consumption of confectionery products will provide the necessary driving force for the global glucose syrup market due to its wide applications in the confectionery industry. The Canadian government released a report on the confectionery industry, displaying the market growth from 2017 to 2021. The global confectionery product market accounted for an increase from US$36,162.3 million in 2017 to US$40,929.9 million in 2021, which is a CAGR of 3.1%. it also states that the increase in volume accounted for an increase from 8,642.8 million kilograms in 2017 to 9,356 million kilograms in 2021, which is a CAGR of 2%. The increase in the volume and value of the market signifies that the demand for confectionery products is increasing and will be expected to increase during the forecasted period, further influencing the global glucose syrup market growth during the forecasted period.
• Sugar sweetener alternative: Glucose syrup is known to be used in the food and beverage industry as a sweetener, thickener, and moisture-retaining agent. Glucose syrup offers alternative functional properties to sugar and also provides various economic benefits since it is an extremely versatile sweetener and is widely used in food manufacturing and other industries. It is known to be a key ingredient in several confectionery products, beer, soft drinks, sports drinks, sauces, jam, and ice-creams, and is known to be used in pharmaceutical and industrial fermentations. As the consumption of confectionery products increases, the glucose syrup market growth is also expected to increase. The increasing prevalence of using non-sugar sweeteners for weight loss also increases the glucose syrup market growth. Glucose syrup is considered a cost-efficient alternative to sugar and also provides a similar sweetness to sucrose, attracting its use as a sugar alternative. The World Health Organization has also insisted on the reduced usage of non-sugar sweeteners for weight loss or the reduction of risk of noncommunicable diseases since it has been found that there can be undesirable side effects from the long-term use of non-sugar sweeteners, which include increased risk of type 2 diabetes, cardiovascular diseases, and mortality in adults. This will be able to attract consumers in the market for sugar alternatives, which include glucose syrup, further driving the glucose syrup market growth during the forecasted period.

Key Players:

• Archer Daniels Midland Company: An American multinational company known for food processing and commodities trading worldwide. They are known for several glucose syrup products, which include ADM 97 DE/71% D.S. Liquid Glucose Syrup.
• Ingredion: A global leader, known for the production and distribution of several ingredient solutions to the food and beverage, animal nutrition, brewing, and industrial markets. They are also known for the production of glucose syrups, which include the VERSASWEET™ 1531? 26 DE Glucose Syrup.

Regional Analysis:

The North American region is expected to witness significant growth in the glucose syrup market during the forecasted period of 2024-2029. Glucose syrup is commonly known as corn syrup in the United States, and is known to be used as a type of liquid sweetener which are often used in commercial foods to enhance the taste, texture, and aroma of the food product. Glucose syrup is also known to be commonly used in confectionery products since the sweetener properties of glucose syrup serve as the perfect ingredient for confectionery dishes such as muffins, cakes, and many others. Glucose Syrups are known to be essential ingredients that enable the producers to balance and control the viscosity of sweets in a precise manner. The United States and Canada account for the majority of the confectionery product market growth in the region. The Canadian Government stated in their report that the United States confectionery product market displayed a significant increase in growth from US$4,886.9 million in 2020 to US$5,619.7 million in 2021, which accounts for a market share percentage of 13.7% of the global market share. Canada displayed an increase from US$1,415.6 million in 2020 to US$1,638.2 million in 2021, which accounts for a market share percentage of 4%. The increase in the consumption of confectionery products will drive the regional glucose syrup market growth during the forecasted period.

Market Developments:

• November 2020: Ingredion announced the launch of their low-sugar glucose syrup dubbed StableSweet LD. This product allows the enhancement of shelf-life stability of sugar confectioneries and improves the organoleptic properties such as shininess and transparency of the sugar confectionery products. The product is a low-sugar glucose syrup that is a clear and sweet-tasting corn-based glucose syrup with lower monosaccharide and disaccharide content, serving as a sugar reduction product as well. The key features of the product include 32DE glucose syrup, around 30% as sweet as sucrose and around 70% as sweet as 42DE glucose syrup.

Segmentation:

• By Type:
  • Food Grade
  • Pharma Grade
  • Industrial Grade
• By Application:
  • Food & Beverages
  • Pharmaceuticals
  • Industrial Applications
• By Geography:
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Others