Glucose Market Size, Share & Trends Analysis Report By Form (Syrup, Solid), By Application (F&B, Pharmaceutical, Cosmetic & Personal Care, Pulp & Paper), By Region, And Segment Forecasts, 2020 - 2028

Report Overview

The global glucose market size was estimated at USD 42.9 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.0% from 2020 to 2028. The escalating demand for confectionery, soft drink, and bakery products in the food and beverages sector that uses glucose (dextrose) as an ingredient is driving the market. Glucose has its demand across varied industry verticals such as food and beverages, pharmaceutical, cosmetic and personal care, and pulp and paper. It acts as a flavor enhancer, stabilizer, texture enhancer, humectants, adjuncts, preservative, and coating and bulking agent. One of the major properties of glucose is to prevent the crystallization of sugar molecules in confectionaries. These are the benefits associated with glucose which are propelling its demand and usage across the globe.

The glucose syrup segment accounted for the maximum revenue share in the U.S. market. Glucose is majorly derived from corn starch in the U.S. because of the significant availability of corn in the country. Manufacturers can use the glucose syrup/corn syrup in the products because it is enlisted as safe by the FDA under the regulation of 21CFR184.1865. Thus, the syrup segment is having dominance in the market.

Glucose and dextrose are chemically the same and names are often used interchangeably. According to the National Center for Biotechnology Information, glucose is also referred to as dextrose or d-glucose. Dextrose injections are used to treat hypoglycemia, a medical condition where the human blood sugar or glucose level is lower than normal. These injections can also provide extra water and carbohydrates (calories from sugar) to the patient if they are not able to drink a sufficient amount of liquid or an additional quantity of liquid is needed into their body.

The expanding applications of glucose or dextrose in the end-use market are the primary factor bolstering its demand. For instance, glucose usage in the food and beverages sector is widespread as it is used as a sweetener, thickener, and moisture-retaining agent among others. Similarly, in the pharmaceutical industry glucose is used as a treatment of low sugar, acute alcohol intoxication, sulfonylurea overdose, insulin overdose, insulin-induced hypoglycemia in pediatric patients, and high blood potassium or hyperkalemia.

According to cosmeticsinfo.org, a website sponsored by The Personal Care Products Council (PCPC) and its member companies, glucose is used in cosmetics and personal care for various product formulations including skincare and hair care products, bath products, cleaning products, and makeup products. The functions of glucose including flavoring agent, humectant, and skin-conditioning agent among others are contributing to their usage in the respective market.

The covid-19 pandemic has affected the growth of the market because of the lockdowns announced by the respective governments across the countries in order to suppress the spread of the virus. The supply and demand gap created across the international market due to disruption in supply chain models. The per capita income of the countries has been affected for that particular period, which has resulted in decreased sales revenue of the manufacturers across end-use sectors including food and beverages, pharmaceutical, and pulp and paper.

Apart from this, the side effects associated with the excess consumption of added sugar in food items are likely to restrict the growth to an extent over the forecast period from 2020 to 2028. Excess sugar consumption can leads to the accumulation of fat that can turn into fatty liver acid; it can increase the risk of diabetes, as well as heart diseases. The countries like America where a high consumption of sugars is registered are making considerable efforts for lowering its amount in the final food and beverages products.

According to the American Heart Association (AHA), an American adult consumes 77 grams of sugar per day, which is more than three times the recommended amount. The maximum amount of added sugar that should be eaten per day is different for men and women. For men, it is 150 calories per day (equals 37.5g or 9 teaspoons) and for women, around 100 calories per day (equals 25g or 6 teaspoons). Additionally, the AHA has also advised men to not exceed 150 calories of added sugar per day and women should limit their added sugar consumption to 100 calories.

Form Insights

The syrup segment dominated the market and accounted for the maximum revenue share of 71.2% in 2020. The segment is also projected to maintain its dominance throughout the forecast period. It is basically the liquid glucose derived commonly from corn and also from other cereal grains including wheat, rice, barley, potato, and cassava. For instance, AGRANA Beteiligungs-AG provides a variety of glucose syrup under the brand name AGENABON and the majority of them are manufactured from corn and wheat. 

Glucose syrup or liquid glucose is commonly available in a colorless form and has major application across food and beverages. The prominent applications include candy, chocolate, beer, fondant, and bakery products. Associated beneficial properties in applications like taste enhancement, bulking, moisture-retaining, preventing crystallization, and lowering freezing point among others are supporting its growth and usage across the food and beverage sector.

Some of the ongoing developments in the glucose syrup market include non-GMO, low-sugar, organic, and vegan syrups. These are gaining popularity in the global market due to rising awareness about these advanced products and their health benefits because they are free from chemical pesticides, chemical fertilizers, or chemical preservatives. Along with these, health benefits associated with the consumption of organic food such as antibiotic resistance, antioxidant content, pesticide cutback, stronger immune system, organic products are poison-free, organic foods are not genetically modified, and lessened chances of food-borne illness are supporting the market growth. For instance, AGENABON (organic glucose syrup solids) helps in reducing microbiological spoilage during storage and helps in the reduction of syneresis. This organic syrup offered under the brand name AGENABON is a recommended ingredient for organic and non-GMO products such as ice cream, spices, meat products, liqueurs, ketchup, and barbecue sauces.

Application Insights

The food and beverages segment dominated the market and held the largest revenue share of 53.4% in 2020. The application segment is also estimated to maintain its dominance throughout the forecast period from 2020 to 2028. The wider application segment including bakery and confectionery, dairy, soups, dressings and sauces, and beverages among others is contributing to the maximum revenue share in the market. Rapidly expanding food and beverages sector across the globe due to increasing research and development activities by the major industry manufacturers for the development of new products and improvisation of existing ones is driving the market.

The increasing demand for bakery and confectionery products due to changing food habits coupled with the growing urbanization, as well as an increasing number of women in bakery products manufacturing is majorly supporting market growth. The use of dextrose in baked goods has certain advantages like it’s easily fermentable, contributes to browning in bread and bun making, and prevents the crystallization in syrups, candies, and fondant. This is making it a suitable ingredient in bakery products.

Moreover, in confectionery applications glucose (dextrose) is an essential ingredient that helps in maintaining the viscosity of the sweets for enhancing product quality. Some of the common products in the confectionery segment using glucose include gum and jelly products, hard candy, aerated confections, fillings, modified confectionery products, chewy candy, and chocolates. The increasing marketing activities by the manufacturers for these confectionaries especially focused on children and adult population is propelling market value.

The cosmetics and personal care application segment is estimated to experience the fastest growth over the forecast period from 2020 to 2028. The increasing demand for cosmetics and personal care among the consumers to maintain hygiene, boost self-esteem, and enhance well-being is also supporting the growth of the segment. These products are regulated to ensure the safety of the users, as a part of it, manufacturers are looking for and adapting natural alternatives to synthetic ones like glucose to comply with the changing regulations. For instance, in the EU new products are required to undergo an expert scientific safety assessment before the launch in the market for sale.

A new trend among women cosmetics and personal care products is proliferating demand for new products especially from local brands, and artisanal and natural products. This trend is anticipating growth across varied cosmetics and personal care products including makeup, skincare, haircare, and lip care among others. Especially, in skincare, the demand for more natural, clean, and even food-standard products is bolstering more commonly across women worldwide. The social media marketing tactics are supporting this trend in the international as well as the local market because the manufacturers are now more easily connect with their target audience through these platforms.         

Regional Insights

Asia Pacific dominated the glucose (Dextrose) market and accounted for the maximum revenue share of 38.7% in 2020. The region is also projected to continue with its dominance throughout the forecast period from 2020 to 2028. The presence of a huge customer base is the major factor contributing to the maximum regional market value. The major economies of the region including India and China are major revenue contributors. The boosting demand for food and beverages products across these countries owing to their large customer base as well as rapid economic development is driving the market in the region.

The increasing demand for F&B products and cosmetics and personal care due to increased discretionary income coupled with the rising urban population is expected to support fast growth of the market in the region. In addition, the increasing expansion of major players in the region owing to the presence of growth opportunities like rising purchasing power of residents and changing eating habits are further accelerating the regional market value.  

In 2020, Asia Pacific is followed by Middle East & Africa in terms of revenue share (%), and the region is also estimated to maintain its position during the forecast timeframe. The flourishing tourism industry in countries such as the UAE and Saudi Arabia is bolstering demand for food and beverages products, which, in turn, is contributing to the regional market value. The continuously rising demand for natural food ingredients and products in countries such as South Africa, Saudi Arabia, and the UAE are further supporting the regional market value.

Europe is gaining pace on account of its major economies including the U.K., Germany, and Italy. Organic, clean label, and natural products are the current significant factors that are driving the demand across the European market. Consumers in Europe are looking for healthier alternatives such as organic, fresh, artisanal, and ethnic food products owing to the noticeable presence of the aging population with their focus on health.  The region has a dominance of glucose syrup over its solid form, as it is in manufacturing for more than a century in the region.

In North America, the U.S. dominated the market in 2020 in terms of revenue share and is anticipated to lead the regional market throughout the estimated period. The high consumption of sugar products by Americans is the primary factor driving the growth. The high demand for sugar confectionaries including candies and chocolates due to their emotional benefits and being part of occasional gifts are supporting market growth.

Key Companies & Market Share Insights

The market is highly competitive as the products are widely available by a variety of local and global manufacturers. Leading companies are making possible efforts for the expansion of their share in the global as well as regional market by making investments in R&D through their dedicated centers.  Additionally, capacity expansion is also a prominent strategy seen in the market by the players in order to meet increasing demand across the industry verticals including F&B, pharmaceuticals, cosmetics and personal care, and industrial fermentation.

The major players are continuously involved in the strategic development activities associated with Research and Development (R&D), mergers and acquisitions, and new product development, and capacity expansion. For instance, in July 2017, ADM has acquired France-based Chamtor SA, particularly to expand its global share in the starch and sweetener market. Some of the prominent players in the global glucose (dextrose) market include:

• Archer Daniels Midland Company (ADM)

• Ingredion Incorporated

• AGRANA Beteiligungs-AG

• Tate & Lyle PLC

• Cargill, Incorporated

• Roquette Frères

• Grain Processing Corporation

• Tereos S.A.

• Fooding Group Limited

• Global Sweeteners Holdings Limited

Glucose Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2028. For the purpose of this study, Grand View Research has segmented the global glucose market report on the basis of form, product, and region:

• Form Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)

  • Syrup

  • Solid

• Application Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)

  • Food & Beverages

    • Bakery & Confectionery

    • Dairy

    • Soups, Dressings & Sauces

    • Beverages

    • Others

  • Pharmaceutical

  • Cosmetic & Personal Care

  • Pulp & Paper

  • Others

• Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

  • Central & South America (CSA)

    • Brazil

  • Middle East & Africa (MEA)

    • South Africa