Glucose syrup, a liquid sweetener derived from the hydrolysis of starches such as corn, wheat, barley, potatoes, rice, and cassava, is widely utilized in various industries, including food and beverages, pharmaceuticals, and confectionery. Its applications range from enhancing sweetness and texture in products like candies and baked goods to serving as a fermentable sugar source in brewing processes.
Market Size and Growth Projections
The global glucose syrup market has been experiencing steady growth, with various reports providing insights into its valuation and projected expansion:
The global Glucose Syrup market was valued at USD 5.2 billion in 2023 and growing at a CAGR of 6.5% from 2024 to 2033. The market is expected to reach USD 9.76 billion by 2033. Increasing demand for baked goods will potentially drive the growth of the Glucose Syrup Market. Whereas, increasing demand for sugar sweetener alternatives and increasing strategic initiatives by the private players in the global market may drive the growth of the Glucose Syrup Market in the period forecasted.
Key Market Drivers
Several factors are contributing to the growth of the glucose syrup market:
Rising Demand for Convenience Foods: The increasing consumption of convenience and processed foods has led to a higher demand for glucose syrup, which is commonly used to enhance sweetness, texture, and shelf life in these products.
Growth in the Confectionery Industry: Glucose syrup is extensively used in the confectionery sector to prevent crystallization and impart a smooth texture to products like candies and chocolates, thereby driving market growth.
Expansion of the Beverage Industry: The beverage sector utilizes glucose syrup as a sweetener and fermentable sugar source, contributing to the market’s expansion.
Regional Insights
The market exhibits significant regional variations:
North America: This region held a major market share, accounting for more than 40% of the global revenue, with a market size of USD 1,660.48 million in 2024. The dominance is attributed to the high consumption of processed and convenience foods.
Europe: Accounting for over 30% of the global market size, Europe has a significant share due to the presence of established food and beverage industries.
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Some of the Key Market Players
- Cargill Inc
- Agrana Group
- Avebe U.A
- Bakers Kitchen
- Archer Daniels Midland
- Beneo
- DGF Service
- Ingredion
- Karo Syrup
- Dr Oetker
Conclusion
The glucose syrup market is poised for steady growth, driven by the rising demand for convenience foods, expansion of the confectionery and beverage industries, and the versatile applications of glucose syrup across various sectors. As consumer preferences continue to evolve, the market is expected to witness sustained expansion in the coming years.
