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The global sugar and high fructose corn syrup market is being supported by the thriving food and beverage industry. Country-wise, Brazil is the leading producer of sugar, accounting for around 20% of the global production. The other significant sugar-producing countries after Brazil are India, Thailand, European Union, China, and the United States, among others. Brazil is also the largest exporter of the product, accounting for over 35% of its global export, followed by Thailand, the European Union, Australia, and India. Countries like India, China, the European Union, the United States, and Brazil are the major consumer markets for sugar. The European Union and China account for over 35% of its global consumption. Further, the demand for high fructose corn syrup is growing due to its increased demand in the beverage sector. In the United States, nearly 5% of the total corn production is used to produce high fructose corn syrup, and thus, the region is the leading exporter for high fructose corn syrup due to the availability of the product in surplus, followed by China. The high fructose corn syrup market is witnessing a healthy growth in the Asian countries owing to the rapid growth of the beverage sector in the region.
The increased production of corn is expected to aid the high fructose corn syrup industry, further supporting the overall growth of the global sugar and high fructose corn syrup market. In September 2020, Cargill Inc., a key player in the industry, inaugurated its first corn silo with 60,000 tons of storage capacity in India, ensuring a continuous supply of good quality corn and further expanding its starches and sweetener business in the Asia Pacific. Also, the increased cultivation of sugar beet and sugarcane in Brazil and other regions is supporting the industry further. A key player, Cosan Ltd. (NYSE: CZZ) is a Brazilian conglomerate producer of bioethanol, sugar, and energy, which cultivates, collects, and processes sugar cane, the main raw material used in the production of sugar and ethanol.
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The major players in the global sugar and high fructose corn syrup market are Cosan Limited, Suedzucker AG, DCM Shriram Ltd, E.I.D. - Parry (India) Limited, Cargill Inc., Archer Daniels Midland Company, Ingredion Inc., Tate & Lyle Plc, and Roquette Frères, and Tereos SA. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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