Glucose Syrup Market Size, Share & Trends Analysis Report By Grade (Food, Pharma), By Application (Sweetening Agent, Wine), By Region, And Segment Forecasts, 2019 - 2025

Report Overview

The global glucose syrup market size to be valued at USD 4.7 billion by 2025 and is expected to grow at a compound annual growth rate (CAGR) of 4.9% during the forecast period. Escalating demand for convenience food and growing usage of glucose syrup in baked food items like candies are some of the factors propelling the market growth. Industries such as confectionery, pharmaceuticals, and food and beverages require glucose syrup as a sweetener. Furthermore, glucose syrups are used for the production of ice creams, chewing gums, chocolates, and canned foods owing to rising demand for sugar replacers.

Glucose syrup is gaining popularity owing to its long shelf life. Moreover, it offers a better alternative to conventional granular sugar. Nontoxicity, anti-crystal, anti-freezing humectant (an element that retains moisture and maintains freshness), and preservative properties are driving the demand for glucose syrup. The application of glucose syrup as a thickener is increasing apart from a sweetener. Additionally, glucose syrup varnishes a food-grade by giving a glaze to it, thereby increasing the organoleptic value of the grade.

Moreover, the strength of private label brands, growing need to curtail costs, and increasing investments by the industries are expected to fuel the revenue of the major players in the dextrose syrup market. For instance, in 2017, Archer Daniels Midland Co. (ADM) invested USD 129.00 million in research and development activities. However, adverse effects due to the heavy intake of glucose syrup are hurting the market growth. Additionally, public food systems, diversification of sugar over inefficient rationing, and falling cost due to market fragmentation are challenging the market.

The U.S. market is expected to witness significant growth and expand at a CAGR of 7.1% over the forecast period. The country is marked with a strong presence of major players such as Bakers Kitchen Inc., which are the largest contributors to the market growth in the U.S. They will continue holding the largest share in the target market owing to the popularity of desserts in the country.

Glucose Syrup Market Trends

The global demand for baked goods and cakes is growing. Additionally, glucose syrup is widely used in the production of sweets because its consistency prevents crystallization. Glucose syrup is preferred for cooking because it does not impact the aesthetic of the product and promotes water retention that retains the freshness of the baked dish.

The use of glucose syrups in the production of confectionery items has also expanded because it prevents gritty texture and preserves the smoothness. Because glucose syrup provides an energy source for yeast its use in the brewery business has grown.

There are a few further restraints with the foods containing glucose syrup as they include high sugar content that can lead to weight gain. On the intake of glucose syrup the body consumes more sugar also causing a variety of ailments. On contrary, the global market is expected to rise in the future years owing to the rise in food and beverage industries in developing countries, shift ins food consumption habits and increase in health consciousness. This is one of the opportunities for the growth of glucose syrup market in the coming years.

Grade Insights

The glucose syrup market is classified based on grade as food, pharma, and others. The food-grade segment is anticipated to generate a revenue of USD 1.4 billion by 2025. High demand for sweeteners in the confectionery grades and growth of the bakery industry are the key factors boosting the segment growth.

The other category comprises of beverages such as cold drinks. This category holds a major share in the market. A large amount of glucose syrup is found in fruit drinks and soft drinks, which accounts for almost 50.0%. Furthermore, the intake of soft drinks has increased 5-fold over the past couple of years. This is expected to create a positive impact on the sales of glucose syrup.

Application Insights

The market is classifies based on the application as a sweetening agent, wine, and others. Wine holds the largest share in the market. Sugar is an important component of any wine. During fermentation, grapes accumulate sugar in the form of glucose and fructose. Natural glucose tastes less sweet than fructose in wine. Hence, to increase the sweetening effect, dextrose syrup is used in various wines. During the time of fermentation, the dextrose syrup is added, and stirring speed is controlled that provides a light pinkish color to the wine, thereby making it look attractive. This is one of the major reasons for the use of dextrose syrup during the fermentation of wine.

Regional Insights

In 2018, Asia Pacific held the largest market share of 30.0% in terms of revenue. The region continues to be the leading market owing to the rising demand for glucose syrup in China and India and the growing need for a sugar replacement in these countries. Consumers are looking for more natural and healthier alternatives to conventional sugar to combat diseases like diabetes and obesity. Russia is anticipated to witness considerable growth due to its huge production of sugar beet.

Europe is likely to be one of the major regional markets over the forecast period, owing to the growing demand for the syrup in France and Germany. The Asia Pacific is expected to be the fastest-growing regional market due to improved eating habits and adoption of the western culture in developing countries. The emergence of new players as well as brands and availability of organic snacks on e-commerce platforms in countries like India and China are expected to boost the dextrose syrup market growth in the region.

North America is expected to witness healthy growth over the forecast period owing to the provision of farm subsidies by the government. This region has the most country-specific markets namely U.S., Canada, and Mexico when the U.S. is the most secure economy.

Key Companies & Market Share Insights

In June 2018, the U.S. Food and Drug Administration (FDA) reassessed a plan requiring added sugar, including glucose syrup, be included on all pure maple syrup and honey labels, which, in turn, encouraged the other players in the global market. Various manufacturers are engaged in increasing the concentration of glucose syrup to increase efficiency and reduce transportation costs.

The market is competitive with a significant number of established players, making high investments in R&D activities to create grade differentiation. Key players having a strong foothold in the global market are Cargill, Inc.; Agrana Group; Avebe U.A.; Bakers Kitchen; Archer Daniels Midland; Beneo; DGF Service; Ingredion; Karo Syrup; Dr. Oetker; Grain Processing Corporation; L'Epicerie; Queen Fine Foods; Roquette Freres; and Tate and Lyle.

Glucose Syrup Market Report Scope

Global Glucose Syrup Market Segmentation

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 2015 to 2025. For this study, Grand View Research has segmented the global glucose (dextrose) syrup market report based on grade, application, and region:

• Grade Outlook (Revenue, USD Billion, 2015 - 2025)

  • Food

  • Pharma

  • Others

• Application Outlook (Revenue, USD Billion, 2015 - 2025)

  • Sweetening Agent

  • Wine

  • Others

• Regional Outlook (Revenue, USD Billion, 2015 - 2025)

  • North America

    • The U.S.

  • Europe

    • Germany

  • Asia Pacific

    • India

    • China

  • Central and South America

    • Brazil

  • The Middle East and Africa

    • South Africa