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Global High Fructose Corn Syrup Market Share, Size, Report, Analysis, Trends, Forecast: By Type: HFCS 42, HFCS 55, Others; By Application: Food and Beverages, Pharmaceuticals, Animal Feed, Others; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; Key Trends and Developments in the Market; 2023-2028
Global High Fructose Corn Syrup Market Outlook
The global high fructose corn syrup market size attained a value of USD 8.8 billion in 2022. The market is further expected to grow at a CAGR of 3.70% between 2023 and 2028, to reach a value of USD 10.9 billion by 2028.
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Key Trends in the Market
High fructose corn syrup refers to a processed corn syrup which contains high levels of fructose and is widely used in the food and beverage sector as a sweetener. This syrup is procured using the process of wet milling in which glucose is obtained by separating starch from corn. Then enzymatic break-down of glucose takes place, producing high fructose corn syrup as a by-product.
- The increasing demand for high fructose corn syrup as an alternative to granulated sugar is adding to the high fructose corn syrup market value. Growing research and development activities by major processed food manufacturers aimed towards producing high-quality and appealing beverages, are the crucial high fructose corn syrup market trends.
- High fructose corn syrup is witnessing a heightened demand in the pharmaceutical sector as a disintegrant and binder to manufacture capsules and tablets. In this regard, the growing innovations in the pharmaceutical sector in developing economies, owing the increasing burden of chronic diseases, is further fuelling the high fructose corn syrup market growth.
- Evolving lifestyles of consumers, rising disposable incomes, rapid urban development across growing economic nations, and rampant growth of the e-commerce sales channel, are some of the factors propelling the sale of downstream food, medical, and animal feed products containing high fructose corn syrup, thereby adding to the market growth.
- High fructose corn syrup is also emerging as an excellent ingredient in processed foods, owing to its high solubility, ability to stay in solutions for longer periods of time, and its inability to get crystallised under particular conditions. Hence, the increasing awareness pertaining to the benefits offered by high fructose corn syrup as an ingredient in various downstream products, is further escalating the high fructose corn syrup market growth.
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Market Analysis
Based on type, the market is segmented into HFCS 42, and HFCS 55, among others. On the basis of application, the market is classified into food and beverages, pharmaceuticals, and animal feed, among others. The regional markets for high fructose corn syrup are divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the key players in the global high fructose corn syrup market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
- Cargill, Incorporated
- Ingredion, Incorporated
- Tata and Lyle PLC
- Archer Daniel Midland Company
- AGRANA Beteiligungs-AG
- Roquette Frères
- Showa Sangyo Co Ltd
- Tereos Group
- Daesang Corporation
- Kasyap Sweetners Limited
- Others
Market Share by Application
The food and beverages segment, based on application, accounts for a healthy share of the high fructose corn syrup market. The increasing commercial usage of high fructose corn syrup in bakery and confectionary, candy, condiment, yogurt, and various types of sweetened foods, is driving the growth of this segment. High fructose corn syrup is witnessing a heightened demand in bakery products as it enhances surface browning, increases moisture content, and improves structure and texture, making bakery items more pleasing to the consumers. In addition, high fructose corn syrup acts as a preservative in jams, jellies, and candies. Hence, the increasing sales of these sweetened products is further fuelling the growth of this segment.
Market Share by Region
Based on region, North America holds a significant share of the high fructose corn syrup market. The increasing prevalence of obesity and diabetes mellitus is leading to a transition from high sugar to sugar alternatives which is driving the market growth in this region. The United States is one of the largest producers of corn, which is a major market driver, as it supports the large-scale high fructose corn syrup production capacity of the country.
Meanwhile, the Asia Pacific is likely to offer lucrative opportunities to the market for high fructose corn syrup, due to the growing efforts by processed food manufacturers across the region to incorporate convenient and cheaper ingredients in packaged foods. Moreover, the presence of a significant consumer base of processed and sweet foods in emerging economies such as India and China is likely to boost the market in this region.
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Competitive Landscape
Cargill, Incorporated is a privately held global food corporation which offers products and services related to agriculture, animal nutrition, beauty, bio-industrial components, food service, pharmaceuticals, meat and poultry, and transportation, among others. Founded in 1865 and currently headquartered in Minnesota, United States, Cargill focuses on connecting producers of grains and oilseeds with users.
Ingredion, Incorporated is a multinational food company which provides a wide range of ingredients including encapsulants, emulsifiers, extracts, fibres, flours, plant proteins, and starch. It is one of the largest producers of sweeteners, nutrition ingredients, and biomaterials, catering to the demands of various end use sectors such as food and beverage, paper, and pharmaceutical. The company was founded in 1906 and is headquartered in Illinois, United States.
Tata and Lyle PLC is a global supplier of food and beverage ingredients which caters to the demands of various industrial markets. The product portfolio of this company includes sweeteners, texturants, fibre enrichment, crystalline fructose, sucralose, corn syrup, glucose, and dextrose, among others. It was established in 1921 and is based out of London in the United Kingdom.
Other market players include Archer Daniel Midland Company, AGRANA Beteiligungs-AG, Roquette Frères, Showa Sangyo Co Ltd, Tereos Group, Daesang Corporation, and Kasyap Sweetners Limited, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
|
| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global High Fructose Corn Syrup Market Overview
8.1 Global High Fructose Corn Syrup Historical Supply (2018-2022)
8.2 Global High Fructose Corn Syrup Supply Forecast (2023-2028)
8.3 Global High Fructose Corn Syrup Historical Demand (2018-2022)
8.4 Global High Fructose Corn Syrup Demand Forecast (2023-2028)
8.5 Global High Fructose Corn Syrup Market by Type
8.5.1 HFCS 42
8.5.1.1 Historical Trend (2018-2022)
8.5.1.2 Forecast Trend (2023-2028)
8.5.2 HFCS 55
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.5.3 Others
8.6 Global High Fructose Corn Syrup Market by Application
8.6.1 Food and Beverages
8.6.1.1 Historical Trend (2018-2022)
8.6.1.2 Forecast Trend (2023-2028)
8.6.2 Pharmaceuticals
8.6.2.1 Historical Trend (2018-2022)
8.6.2.2 Forecast Trend (2023-2028)
8.6.3 Animal Feed
8.6.3.1 Historical Trend (2018-2022)
8.6.3.2 Forecast Trend (2023-2028)
8.6.4 Others
8.7 Global High Fructose Corn Syrup Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2022)
8.7.1.2 Forecast Trend (2023-2028)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2022)
8.7.2.2 Forecast Trend (2023-2028)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2022)
8.7.3.2 Forecast Trend (2023-2028)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2022)
8.7.4.2 Forecast Trend (2023-2028)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2022)
8.7.5.2 Forecast Trend (2023-2028)
9 North America High Fructose Corn Syrup Market
9.1 United States
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
10 Europe High Fructose Corn Syrup Market
10.1 United Kingdom
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 France
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific High Fructose Corn Syrup Market
11.1 China
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 India
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
11.5 South Korea
11.5.1 Historical Trend (2018-2022)
11.5.2 Forecast Trend (2023-2028)
11.6 Australia
11.6.1 Historical Trend (2018-2022)
11.6.2 Forecast Trend (2023-2028)
11.7 Others
12 Latin America High Fructose Corn Syrup Market
12.1 Brazil
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa High Fructose Corn Syrup Market
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Historical Trend (2018-2022)
13.4.2 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
15 Price Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Cargill, Incorporated
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Ingredion, Incorporated
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Tata and Lyle PLC
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Archer Daniel Midland Company
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 AGRANA Beteiligungs-AG
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Roquette Frères
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Showa Sangyo Co Ltd
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Tereos Group
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 Daesang Corporation
16.2.9.1 Company Overview
16.2.9.2 Product Portfolio
16.2.9.3 Demographic Reach and Achievements
16.2.9.4 Certifications
16.2.10 Kasyap Sweetners Limited
16.2.10.1 Company Overview
16.2.10.2 Product Portfolio
16.2.10.3 Demographic Reach and Achievements
16.2.10.4 Certifications
16.2.11 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global High Fructose Corn Syrup Market: Key Industry Highlights, 2018 and 2028
2. Global High Fructose Corn Syrup Historical Market: Breakup by Type (USD Million), 2018-2022
3. Global High Fructose Corn Syrup Market Forecast: Breakup by Type (USD Million), 2023-2028
4. Global High Fructose Corn Syrup Historical Market: Breakup by Application (USD Million), 2018-2022
5. Global High Fructose Corn Syrup Market Forecast: Breakup by Application (USD Million), 2023-2028
6. Global High Fructose Corn Syrup Historical Market: Breakup by Region (USD Million), 2018-2022
7. Global High Fructose Corn Syrup Market Forecast: Breakup by Region (USD Million), 2023-2028
8. North America High Fructose Corn Syrup Historical Market: Breakup by Country (USD Million), 2018-2022
9. North America High Fructose Corn Syrup Market Forecast: Breakup by Country (USD Million), 2023-2028
10. Europe High Fructose Corn Syrup Historical Market: Breakup by Country (USD Million), 2018-2022
11. Europe High Fructose Corn Syrup Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Asia Pacific High Fructose Corn Syrup Historical Market: Breakup by Country (USD Million), 2018-2022
13. Asia Pacific High Fructose Corn Syrup Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Latin America High Fructose Corn Syrup Historical Market: Breakup by Country (USD Million), 2018-2022
15. Latin America High Fructose Corn Syrup Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Middle East and Africa High Fructose Corn Syrup Historical Market: Breakup by Country (USD Million), 2018-2022
17. Middle East and Africa High Fructose Corn Syrup Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Global High Fructose Corn Syrup Market Structure
Key Questions Answered in the Report
In 2020, the global sugar and high fructose corn syrup market is aided by global sugar market which attained volume of nearly 175 MMT.
The market is aided by global sugar market, the consumption of which is projected to grow at a CAGR of 1% between 2021 and 2026.
The market is aided by global sugar market which is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach 186 MMT by 2026.
The major industry drivers are rapidly growing beverage sector due to the growing popularity amongst the younger population.
The key trends in the market are thriving end-use industries, especially the food and beverage industry, which is witnessing a thriving demand growth.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The application sectors include food and beverage, pharmaceutical and personal care, household.
The major players in the industry 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 and Tereos, among others.
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