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Base Year
Historical Period
Forecast Period
In the United States, the highest-cost reporting region, liquid glucose prices extended a modest recovery through H1 2026 after a steady decline across most of 2025. The US average rose from USD 605/MT in Q1 2026 to USD 615/MT in Q2, a gain of about 1.7%. Globally, the average rose from USD 537.50/MT in Q1 2026 to USD 551.25/MT in Q2, a gain of about 2.6%, as rising European energy costs and firmer ethanol-linked corn demand offset a still-ample US corn supply picture. For H2 2026, a global average of USD 545-575/MT is expected, with steady food and beverage demand and firming feedstock costs supporting a continued gradual recovery.
Liquid glucose, also known as glucose syrup, is produced through the enzymatic hydrolysis of corn, wheat, or cassava starch, yielding a versatile liquid sweetener sold and traded by weight rather than volume. Confectionery, baking, canned fruit, and beverage manufacturing account for the largest share of global demand, with pharmaceutical formulation and select industrial and textile-sizing applications making up most of the remaining major uses. Corn and alternative starch feedstock costs, ethanol-industry competition for corn supply, energy costs for wet-milling and enzymatic processing, and food and beverage demand trends are the drivers that move price most consistently.
The supply-demand balance for liquid glucose through the remainder of 2026 leans toward a continued, gradual recovery from 2025's feedstock-driven low. Steady ethanol-industry demand for corn, rising European energy costs tied to natural gas pricing, and stable food and beverage manufacturing demand keep prices on a firming path, even as an ample US corn supply picture continues to cap the pace of the recovery.
The primary upside risk is a tightening of corn or alternative starch feedstock availability combined with sustained higher energy costs, which would push prices above the forecast range. The primary downside risk is a larger-than-expected corn harvest combined with continued high-fructose corn syrup substitution trends, which would pull prices back below the forecast.
| Region | 2026 Price Range (USD/MT) | Outlook |
| Global Average | 545 - 575 | Firming European energy costs and steady demand support a gradual recovery |
| United States | 610 - 640 | Ample corn supply caps gains even as ethanol-linked demand firms |
| Europe | 545 - 575 | Elevated natural gas costs and wheat feedstock quality issues keep prices firm |
| China | 480 - 510 | Ample corn supply keeps China the lowest-cost benchmark |
| India | 555 - 585 | Cassava and tapioca feedstock cost volatility keeps pricing elevated |
US liquid glucose prices averaged USD 615/MT in Q2 2026, up about 1.7% from USD 605/MT in Q1 2026, the highest level among the four tracked markets. Firming ethanol-linked corn demand supported the modest increase even as overall corn supply stayed ample.
Why did the price of Liquid Glucose change in Q2 2026 in United States?
Ethanol-industry demand for corn stayed firm through the quarter, competing with wet-milling processors for available grain. Food and beverage manufacturing demand held steady despite ongoing high-fructose corn syrup substitution trends in some product lines. Corn supply remained ample given the large prior harvest, capping the pace of the increase.
European prices averaged USD 545/MT in Q2 2026, up about 3.8% from USD 525/MT in Q1 2026. Rising natural gas costs and continued wheat feedstock quality issues kept the market firming.
Why did the price of Liquid Glucose change in Q2 2026 in Europe?
Natural gas costs for wet-milling and enzymatic processing operations rose further through the quarter. Wheat feedstock quality issues, stemming from a weak prior regional harvest, continued to raise processing costs. Steady confectionery and baking-sector demand supported the higher price level.
Chinese prices averaged USD 485/MT in Q2 2026, up about 2.1% from USD 475/MT in Q1 2026, the lowest level among the four tracked markets. Ample domestic corn supply kept China the low-cost benchmark even as prices firmed modestly.
Why did the price of Liquid Glucose change in Q2 2026 in China?
Domestic corn supply remained ample, keeping China's cost base the lowest among tracked markets. Steady food and beverage manufacturing demand supported a modest increase. Energy costs for processing operations firmed in line with broader regional trends.
Indian prices averaged USD 560/MT in Q2 2026, up about 2.8% from USD 545/MT in Q1 2026. Continued cassava and tapioca feedstock cost volatility kept the market on its firming path.
Why did the price of Liquid Glucose change in Q2 2026 in India?
Imported tapioca volumes and associated cost volatility continued to affect domestic feedstock economics. Steady confectionery and beverage-sector demand supported the higher price level. Freight and logistics costs on import-dependent feedstock lanes stayed elevated.
US prices averaged USD 605/MT in Q1 2026, up about 1.2% from Q4 2025, marking the first quarterly increase after four consecutive quarters of decline. Firming ethanol-linked corn demand supported the turn entering the year.
Why did the price of Liquid Glucose change in Q1 2026 in United States?
Ethanol-industry demand for corn firmed entering the year, adding competitive pressure for available grain. Food and beverage manufacturing demand held steady despite ongoing substitution trends favouring alternative sweeteners in some product lines. An ample corn supply picture continued to limit the pace of the increase.
European prices averaged USD 525/MT in Q1 2026, up about 1.0% from Q4 2025, as rising natural gas costs began pushing processing costs higher entering the year.
Why did the price of Liquid Glucose change in Q1 2026 in Europe?
Natural gas costs for wet-milling and enzymatic processing operations began rising entering the year. Wheat feedstock quality issues, stemming from a weak prior harvest, continued to raise processing costs. Confectionery and baking-sector demand held steady entering the new year.
Chinese prices averaged USD 475/MT in Q1 2026, up about 1.5% from Q4 2025, as steady food and beverage demand supported a modest increase after a soft 2025.
Why did the price of Liquid Glucose change in Q1 2026 in China?
Domestic corn supply remained ample entering the year, keeping the cost base low. Steady food and beverage manufacturing demand supported a modest price increase. Energy costs for processing operations firmed only slightly.
Indian prices averaged USD 545/MT in Q1 2026, up about 2.8% from Q4 2025, as tapioca import cost volatility drove the increase entering the year.
Why did the price of Liquid Glucose change in Q1 2026 in India?
Imported tapioca volumes surged, introducing cost volatility into domestic feedstock economics. Freight and logistics costs on import-dependent feedstock lanes rose entering the year. Steady confectionery and beverage-sector demand absorbed the higher cost base.
Global liquid glucose prices declined steadily through 2025 on an ample US corn supply picture before recovering modestly through Q1 and Q2 2026 on rising European energy costs and firming ethanol-linked corn demand. The average opened near USD 560.75/MT in Q1 2025 and fell to USD 529/MT by Q4 2025, then rose to USD 537.50/MT in Q1 2026 and USD 551.25/MT in Q2 2026, a net decline of about 1.7% across the six-quarter window. A record US corn crop and high stocks-to-use ratio drove most of the 2025 decline, while rising European energy costs and firming corn demand drove the 2026 recovery.
| Quarter | Price (USD/MT) | QoQ Change | Direction |
| Q2 2026 | 551.25 | +2.6% | ↑ Rising |
| Q1 2026 | 537.50 | +1.6% | ↑ Rising |
| Q4 2025 | 529.00 | -1.9% | ↓ Falling |
| Q3 2025 | 539.00 | -1.9% | ↓ Falling |
| Q2 2025 | 549.50 | -2.0% | ↓ Falling |
| Q3 2026 | In Progress | - | - In Progress |
Liquid glucose prices declined steadily across most reporting regions in 2025, led by a record US corn crop and a rising stocks-to-use ratio that pulled feedstock costs lower through the year. The global average opened near USD 560.75/MT in Q1 2025 and fell to USD 529/MT by Q4, a full-year decline of about 5.7%. A large US corn harvest, softer feedstock costs across most regions, and steady but unremarkable food and beverage demand growth were the primary forces that defined the year.
US prices fell from about USD 638/MT in Q1 2025 to USD 598/MT by Q4, a decline of roughly 6.3%, the sharpest among the four tracked markets. A record corn crop and a stocks-to-use ratio rising well above its longer-run average pulled feedstock costs steadily lower through the year.
European prices fell from about USD 545/MT in Q1 2025 to USD 520/MT by Q4, a decline of roughly 4.6%. Softer wheat costs through most of the year were partially offset by feedstock quality issues stemming from a weak regional harvest, which raised processing costs late in the year.
Chinese prices fell from about USD 500/MT in Q1 2025 to USD 468/MT by Q4, a decline of roughly 6.4%. Ample domestic corn supply kept China the lowest-cost tracked market throughout the year.
Indian prices fell from about USD 560/MT in Q1 2025 to USD 530/MT by Q4, a decline of roughly 5.4%. Softening regional feedstock costs pulled the market lower through most of the year, ahead of the tapioca import-driven volatility seen in early 2026.
Expert Market Research: Your Source for Real-Time Liquid Glucose Price Intelligence
Expert Market Research tracks liquid glucose prices continuously across every major producing and consuming region. The team traces causation through corn and alternative starch feedstock economics, ethanol-industry demand for corn, energy costs for wet-milling and enzymatic processing, and food and beverage demand trends. Forecasts draw on feedstock cost curves, crop condition data, and trade flow information across all reporting regions. Contact Expert Market Research today for liquid glucose pricing data, bespoke market analysis, and strategic procurement advisory.
Confectionery, baking, canned fruit, and beverage manufacturing account for the largest share of global demand, with pharmaceutical formulation and select industrial and textile-sizing applications making up most of the remaining major uses.
The Q2 2026 average was USD 615/MT in the United States, USD 545/MT in Europe, USD 485/MT in China, and USD 560/MT in India. The United States carries the highest cost due to firm ethanol-linked corn demand, while China remains the lowest-cost benchmark given its ample domestic corn supply.
The global average fell from USD 560.75/MT in Q1 2025 to USD 529/MT in Q4, a decline of about 5.7%. A record US corn crop and a rising stocks-to-use ratio pulled feedstock costs steadily lower through the year.
Ethanol-industry demand for corn firmed, competing with wet-milling processors for available grain, while rising natural gas costs and wheat feedstock quality issues pushed European processing costs higher.
The global average is expected in the USD 545 to 575/MT range for the remainder of 2026, assuming rising European energy costs and firming ethanol-linked corn demand continue to support a gradual recovery.
The United States holds the highest cost on firm ethanol-linked corn demand, Europe tracks a firm second on elevated energy and wheat feedstock costs, India sits in a firm middle on cassava and tapioca feedstock volatility, and China prices lowest given its ample domestic corn supply.
This report is updated monthly. For real-time pricing intelligence, contact the Expert Market Research team directly.
Prices respond mainly to corn and alternative starch feedstock costs, ethanol-industry demand for corn, energy costs for wet-milling and enzymatic processing, and food and beverage demand trends including substitution by alternative sweeteners.
The United States and China hold significant corn-based processing capacity, with Europe relying on wheat-based production and India drawing on a mix of corn and cassava-based feedstock. Any large shift in US corn supply or European energy costs ripples across every regional market within one to two quarters.
Buyers can use quarterly trend data and forward price forecasts to time contract negotiations around corn and alternative starch feedstock cost cycles, monitor ethanol-industry demand as an early cost signal, and build forward coverage ahead of anticipated energy cost increases.
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