Global Glucose Syrup Market Insights Forecasts to 2033

• The Global Glucose Syrup Market Size was estimated at USD 4.33 Billion in 2023
• The Market Size is Expected to Grow at a CAGR of around 5.59% from 2023 to 2033
• The Worldwide Glucose Syrup Market Size is Expected to Reach USD 7.46 Billion by 2033
• Asia Pacific is expected to grow the fastest during the forecast period.

The Global Glucose Syrup Market Size is expected to cross USD 7.46 billion by 2033, growing at a CAGR of 5.59% from 2023 to 2033. The market for glucose syrup is expanding because of the increased use of non-sugar sweeteners for reducing weight.   

Market Overview  

The market for glucose syrup, a liquid sweetener used in food and drink products, is worldwide. Starch molecules from corn, rice, wheat, or potatoes are broken down to make it. The market for glucose syrup has risen owing to several factors, including the expansion and growth of the food and beverage industry, the growing demand for packaged and convenience food and beverage goods, the growing consumer awareness of the importance of high-quality and nutritious food products, the increased demand for dextrose and maltodextrin as nutritional supplements, and the major companies' increased personal disposable income. Since it has a sweetness level similar to sucrose, glucose syrup is regarded as an affordable alternative to sugar. Since it has this feature, it is an attractive substitute for sugar. As consumers explore sugar alternatives, glucose syrups are also essential to the manufacturing of popular products such as ice cream, chocolate, chewing gum, and canned goods. The key factors driving the growth of the glucose syrup market are a growing population and the increase in demand for snacks including packaged, frozen, and ready-to-eat foods. The growth of the glucose syrup market would also be constrained by the adverse consequences of excessive glucose syrup use.

Report Coverage

This research report categorizes the glucose syrup market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the excavator bucket market. Recent market developments and competitive strategies such as expansion, type launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the glucose syrup market.  

Driving Factors

The glucose syrup market is expanding due in part to the availability of more affordable, longer-lasting products, especially at retail bakeries. The pharmaceutical industry's growing need for glucose syrup, increased spending on research and development, and expanding ice cream and chocolate consumption, particularly in developing countries, will all contribute to the market's ongoing increase. The growing packaged food industry in emerging nations is also supporting the usage of glucose syrup. The increasing demand from the food industry also propelled the glucose syrup market.

Restraining Factors

The growing use of gum as a substitute for glucose, dextrose, and maltodextrin will be a significant obstacle to the market expansion for glucose syrup. High research and development expenses will also slow the expansion rate of the glucose syrup market. 

Market Segmentation

The glucose syrup market share is classified into grade, source, and application.      

• The food segment held the largest share in 2023 and is estimated to grow at a CAGR of 4.78% throughout the projection period.

Based on the grade, the global glucose syrup market is categorized into food, industrial, pharmaceuticals, and others. Among these, the food segment held the largest share in 2023 and is estimated to grow at a CAGR of 4.78% throughout the projection period. Food-grade glucose syrup is a crucial part of dairy products, confections, baked goods, and drinks. Food-grade glucose syrup usage has also increased due to the growing demand for ready-to-eat items and convenience foods.

• The corn segment dominated the global glucose syrup market share in 2023 and is estimated to grow at a CAGR of 5.29% throughout the projection period.

Based on the source, the global glucose syrup market is classified into wheat, potatoes, corn, and others. Among these, the corn segment dominated the global glucose syrup market share in 2023 and is estimated to grow at a CAGR of 5.29% throughout the projection period. Corn is a key component used to make glucose syrup because of its high starch content, affordability, and availability. The effective extraction and refined methods that produce premium glucose syrup fit for a range of uses in the food, beverage, pharmaceutical, and industrial sectors have further supported the expansion of the corn segment.

• The sweetening agents segment accounted for the largest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.

Based on the application, the global glucose syrup market is divided into wine, sweetening agents, and others. Among these, the sweetening agents segment accounted for the largest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. Glucose syrup is more nutritious than sugar since it has a lower glycemic index and some nutritional content. Thus, the market is expanding due to the preference for glucose syrup among the food manufacturing and processing businesses.

Regional Segment Analysis of the Glucose Syrup Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the glucose syrup market over the predicted timeframe.

North America is anticipated to hold the largest share of the glucose syrup market over the predicted timeframe. Since people's demand for ready-to-eat food and drink goods is rising. The region consumes a lot of ice cream, baked goods, confections, and other processed foods. Glucose syrup aids major food processing industries in the area boost their profit margins. In addition, the region's glucose syrup sector is mostly driven by the usage of glucose syrup in alcoholic spirits. Increased use of glucose syrup in the manufacturing of alcohol is anticipated to be further supported by rising alcohol consumption.

Asia Pacific is expected to grow at the fastest CAGR growth of the glucose syrup market during the forecast period. Growing urbanization, shifting food consumption habits, and the embrace of Western culture in the region's developing nations are the main drivers propelling the glucose syrup market in the region, which has seen a sharp increase in demand for processed foods over the past two centuries. Regional and global trade agreements have also given companies in the food processing sector more access to markets. This has increased the production and consumption of processed foods that contain glucose syrup, which has aided in the growth of the region's glucose syrup market.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the glucose syrup market along with a comparative evaluation primarily based on their type of offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes type development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. 

List of Key Companies

• Cargill, Inc.
• Grain Processing Corporation
• Agrana Group
• Tate and Lyle
• Archer Daniels Midland
• Dr. Oetker
• DGF Service
• Avebe U.A.
• Roquette Freres
• Beneo
• Bakers Kitchen
• L'Epicerie
• Karo Syrup
• Queen Fine Foods
• Others 

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs) 

Recent Development

• In September 2022, a major participant in the glucose syrup market, Cargill, Inc., announced that it would invest USD 50 million to construct a sustainable corn syrup refinery in Fort Dodge, Iowa, in the United States. In comparison to traditional corn syrup production processes, the plant is anticipated to reduce CO2 emissions by over 50%.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the glucose syrup market based on the below-mentioned segments: 

Global Glucose Syrup Market, By Grade

• Food
• Industrial
• Pharmaceuticals
• Others

Global Glucose Syrup Market, By Source

• Wheat
• Potatoes
• Corn
• Others

Global Glucose Syrup Market, By Application

• Wine
• Sweetening Agents
• Others

Global Glucose Syrup Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa