Global Glucose Syrup Market Regional Analysis, Key Players, Opportunities and Forecast to 2027
Glucose is a simple sugar and is the
primary energy source of the body and is ubiquitous in the body mechanisms and
processes. Glucose features on the World Health Organization's List of
Essential Medicines, due to its crucial role to life sustenance and maintenance.
The global market for glucose syrup is projected to reach 29,888 kilo tons by
volume at a CAGR of 3.6 % during the forecast period of 2016 to 2022.
Market Dynamics:
Drivers
The essential nature of glucose and
its versatile uses in healthcare coupled with growth of complimentary
industries and applications such as food and beverage, pharmaceuticals,
confectionery etc. are driving the global glucose syrup market.
The concentrated nature of glucose
syrup reduces transportation costs resulting in efficiencies. The Government’s
support to agriculture especially the sugar beet and sugarcane producers is
another driver of the market. The situational growing demand for glucose syrup
has resulted in North America and Europe being net importers of sugar as they
failed to produce enough sugar from sugar beets. The glut was due to growing
demand from confectionary, food and beverages industries. The explosive growth
of canned and packaged foods is also charging the market.
Characteristics such as its long shelf-life,
humectant and preservative properties, nontoxicity, anti-freezing and
anti-crystal formation, and glaze generation are other factors driving the use
of glucose syrup.
Key Players
The major players in the global glucose syrup market are Cargill Inc. (U.S.), Ingredion Incorporated (U.S.), Archer Daniels Midland Company (U.S.), Agrana Group (Austria), Roquette (France), Tate & Lyle plc (U.K.), Grain Processing Corporation (U.S.) and others.
Segmental Analysis
To generate a bird’s view of the
market the global glucose syrup market has been segmented by source, grade,
application, and region.
Based on the source, the market has been segmented into
corn, wheat, barley, potatoes, rice, cassava and others. Corn followed by wheat
accounts for the largest market share by source. The liquid form is expected to
grow at a CAGR of 3.85 %.
Based on the grade, the market has been segmented into
Food, Pharma, Industrial and others
Based on the form, the market has been segmented by
liquid, granular and others. Liquid followed by granular form segment is
expected to generate the fastest growth.
Based on the application, the market has been segmented by
food, beverage, confectionery, pharmaceuticals and others. Food based
application expected to triumph the glucose syrup market by application.
Based on the region, the market has been segmented by
North America, Asia-Pacific, Middle East and Africa.
Regional Analysis
Asia-Pacific
region holds a lion’s share of more than 30 % by volume reflected by more than
10,000 kilo tons of production. China, India are the leading nations in the
Asia Pacific region. Russia is expected to generate significant growth owing to
its large production of sugar beet. The Latin American nations of Brazil,
Venezuela, and Ecuador are expected to be a large market opportunity.
North
America is expected to generate the fastest growth of 3.94 % owing to large
scale corn subsidies provided by the Government. Europe is expected to be led
by France, Germany, Ukraine and others.
Middle East
and Africa market is expected to be dominated by the African region nations of
South Africa, Angola and others.
NOTE: Our Team of Researchers are Studying Covid19
and its Impact on Various Industry Verticals and wherever required we will be
considering Covid19 Footprints for Better Analysis of Market and Industries.
Cordially get in Touch for More Details.
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