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Global Sugar and High Fructose Corn Syrup Market to be Aided by the Growth of the Sugar Market, Expected to Grow at a CAGR of 1% between 2022 and 2027.

According to a new report by EMR titled, ‘Global Sugar and High Fructose Corn Syrup Market Report and Forecast 2022-2027’, the global sugar consumption stood at a volume of around 175 million metric tons in 2020 while the global consumption of high fructose corn syrup attained a volume of more than 13 million metric tons in the same year. In terms of volume, the global sugar consumption is further expected to grow at a CAGR of 1% in the forecast period of 2022-2027 to attain a volume of 186 million metric tons by 2026.

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 Incorporated, 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 S.A. (B3:CSAN3; NYSE:CSAN) 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.

Market Breakup by Types, Applications, and Regions:

  • Based on types, the sweeteners market can be divided into sugar, high-fructose corn syrup (HFCS), high-intensity sweeteners, and natural sweeteners. Sugar can be further bifurcated into raw and refined sugar. 
  • On the basis of application, the global sugar and high fructose corn syrup market can be categorised into food and beverage, pharmaceutical and personal care, and household sector, among others. 
  • Region-wise, the global sugar and high fructose corn syrup market can be divided into North America, the Asia Pacific, Europe, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The expanding food and beverage industry is driving the growth of the global sugar and high fructose corn syrup market. 
  • The increased cultivation of sugar beet and sugarcane, serving as the feedstock in sugar production, will provide further support the industry growth.
  • The growing demand for packaged products such as soft drinks, chocolates, and others, is providing further impetus to the overall industry.   
  • The growing urbanisation and the rising disposable incomes, particularly in the emerging economies is further aiding the industry growth.

Key Offerings of the Report:

  • The EMR report gives a detailed overview of the global sugar and high fructose corn syrup market, providing an insight into the applications and regional markets of the product for the periods (2017-2021) and (2022-2027). 
  • The report gives the regional historical (2017-2021) and forecast (2022-2027) price trends of raw sugar and high fructose corn syrup.
  • The global trade data analysis has also been provided in the report by EMR, covering the value and volume of the leading importing and exporting countries.
  • The report provides an assessment of the market based on the Porter’s Five Forces model, along with a SWOT and value chain analysis.

The major players in the global sugar and high fructose corn syrup market are Global Sweeteners Holdings Limited, Südzucker AG, Archer Daniels Midland Company, Cargill, Incorporated, Ingredion Incorporated, Tate & Lyle PLC, DCM Shriram Ltd., Cosan S.A., E.I.D. - Parry (India) Limited, Roquette Frères, Tereos, among others. 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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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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