Global Glucose Syrup Market Size By Type (Corn, Wheat), By Application (Food, Beverage), By Region, And Segment Forecasts, 2023 to 2032

The Global Glucose Syrup Market was valued at USD 3.2 billion in 2023 and is projected to reach USD 4.9 billion by 2031, growing at a CAGR of 5.4% during the forecast period of 2023-2031. The market is primarily driven by the increasing demand for sweeteners in various food and beverage products, especially in the confectionery, bakery, and processed foods industries. The rising consumer preference for convenience foods and beverages, coupled with growing awareness about the benefits of glucose syrup as a substitute for sugar, is expected to propel market growth.

Market Drivers:

Growing Demand for Confectionery and Processed Foods: Glucose syrup is widely used in confectioneries, processed foods, and beverages due to its texture-enhancing and sweetness properties, fueling its demand.

Shift Toward Sugar Substitutes: The rising health concerns over sugar consumption are driving manufacturers to adopt glucose syrup as a healthier alternative in various products.

Rising Consumption of Convenience Foods: The increased demand for ready-to-eat and packaged foods is also contributing to the growth of the glucose syrup market.

Market Restraints:

Health Concerns Over High-Fructose Corn Syrup (HFCS): The growing awareness of the adverse health effects of high-fructose corn syrup may limit the growth of the glucose syrup market.

Price Volatility of Raw Materials: Fluctuations in the prices of corn, wheat, and other raw materials used in glucose syrup production can impact market stability.

Market Opportunities:

Expansion in Emerging Markets: The growing food processing sector in emerging economies such as China, India, and Brazil provides significant opportunities for the glucose syrup market.

Growing Demand for Natural Sweeteners: Increasing consumer preference for natural sweeteners in organic and clean-label food products is expected to create lucrative opportunities for glucose syrup manufacturers.

Market by System Type Insights:

Based on system type, the Corn-based Glucose Syrup segment accounted for the largest market share in 2023 due to the wide availability of corn and its cost-effectiveness. However, the Wheat-based Glucose Syrup segment is expected to witness faster growth, driven by the rising demand for gluten-free and organic products.

Market by End-use Insights:

The Food & Beverages segment dominated the glucose syrup market in 2023, holding over 60% of the total market share. Glucose syrup is extensively used in the food industry to enhance the taste, texture, and shelf life of products such as candies, jams, and baked goods. The Pharmaceutical segment is also growing steadily, as glucose syrup is used in various medicinal formulations.

Market by Regional Insights:

Geographically, North America held the largest market share in 2023, primarily due to the high demand for processed foods and beverages. However, Asia-Pacific is expected to register the highest growth rate during the forecast period, driven by the increasing urbanization, changing dietary preferences, and expanding food processing industries in countries like China and India.

Competitive Scenario:

Key players operating in the global glucose syrup market include Cargill Inc., Archer Daniels Midland Company, Tate & Lyle PLC, Roquette Frères, Ingredion Incorporated, and Kerry Group. These companies focus on product innovation, expanding their geographic reach, and strategic partnerships to strengthen their market presence.

Scope of Work – Global Glucose Syrup Market

Key Market Developments:

In 2023, Cargill Inc. introduced a new line of glucose syrups with reduced sugar content, catering to the growing demand for healthier sweetener options.

In 2022, Tate & Lyle PLC expanded its production capacity in North America to meet the rising demand for glucose syrup in the food and beverage industry.

In 2024, Roquette Frères announced its partnership with a major European food company to develop organic glucose syrup solutions, targeting the clean-label market.

FAQs

What is the current market size of the Global Glucose Syrup Market?

The market was valued at USD 3.2 billion in 2023.

What is the major growth driver of the Global Glucose Syrup Market?

The growing demand for glucose syrup in the food and beverage industry, particularly for confectionery and processed foods, is a key driver.

Which is the largest region during the forecast period in the Global Glucose Syrup Market?

North America held the largest market share in 2023, while Asia-Pacific is expected to witness the highest growth.

Which segment accounted for the largest market share in the Global Glucose Syrup Market?

The Food & Beverages segment accounted for the largest share in 2023.

Who are the key market players in the Global Glucose Syrup Market?

Key players include Cargill Inc., Tate & Lyle PLC, Roquette Frères, and Ingredion Incorporated.