Global Corn Glucose Market Size and Share Outlook - Forecast Trends and Growth Analysis Report (2024-2032)

Corn Glucose Market Insights

• In the United States, the average corn yield reached 177.3 bushels per acre in 2023, which is 3.9 bushels more than the 2022 yield of 173.4 bushels per acre. 
• The United States is projected to yield 389.7 Mt of corn in 2024, marking a 12.4% rise from the previous season's output of 346.7 Mt. This positive yield figure will consequently result in corn glucose market expansion.
• As per industry reports, China is anticipated to import 23 Mt of corn in FY-2023/24, reflecting a 22.9% rise from 18.7 Mt in FY-2022/23. 
• Of the total corn produced globally, around 61% is allocated for animal feed, 17% is consumed directly as food, and approximately 22% is use in the production of biofuels and starch.

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Corn Glucose Market Analysis

Corn glucose or glucose syrup is a type of sugar that is obtained from the hydrolysis of corn starch. It contains a concentrated number of calories and is widely used as a sweetener. It is extensively employed in the food and beverage industry as a sweetener, thickener, and humectant. Also, it aids in enhancing the taste of food items while extending their shelf life. It is principally used as a key ingredient in commercially prepared foods for improving colour, enhancing flavour, adding volume, and providing a smooth texture to the food. As corn glucose helps in the prevention of crystallisation of sugar, it is also extensively used in tinned fruits, jams, ice cream, cookies, beverages, sorbets, and dairy, among others. As per corn glucose market overview, approximately 60 bushels (or 1,524 kg) of corn are needed to produce 1 tonne of glucose syrup, highlighting the need for extensive corn production.

As per industry reports, the expected rise in global corn production for the 2023/24 season, projected to reach 1,230.2 million tonnes (an increase of 6.3% from the previous season's 1,157.5 million tonnes), will likely have a considerable effect on the growth of the corn glucose syrup market. Given that corn serves as the primary raw material for glucose syrup production, a boost in production generally enhances the availability of raw corn, which may lead to rising demand from sectors such as food and beverages, pharmaceuticals, and confectionery. 

Moreover, the anticipated increase in the global workforce, projected to exceed 3.4 billion by 2024, coupled with rising per capita income levels expected to reach USD 13,920 by 2025, along with increasingly hectic lifestyles, has notably heightened the demand for convenient and packaged food options. Since the product is a key ingredient in processed food items, the market for corn glucose is experiencing significant growth.

Additionally, the 12.3% increase in global corn exports for the 2023/24 season, rising from 180.2 million tonnes to 202.3 million tonnes, is anticipated to positively influence the corn glucose syrup market dynamics and trends by enhancing the global corn supply. This surge can lead to lower input costs for manufacturers, stabilise market prices, and improve access to raw materials in regions reliant on corn imports.

Corn Glucose Market Trends

Increasing Demand for Processed and Packaged Foods

With the rise of urbanisation and the increasingly hectic lifestyles of consumers, there is a notable surge in the demand for processed and packaged foods. Corn glucose serves as a versatile sweetener and preservative, playing a crucial role in numerous products within this category. It is commonly utilised in snacks, confectioneries, and baked goods to enhance texture, extend shelf life, and increase sweetness. Data from the U.S. Department of Agriculture (USDA) indicates that the consumption of processed foods rose by more than 20% from 2010 to 2020. This trend in the corn glucose market is expected to continue as prominent brands, such as Nestlé and PepsiCo are integrating it into their offerings.

Rising Application in Pharmaceuticals

The use of corn glucose in pharmaceutical formulations is on the rise, particularly in syrups and tonics. Its properties, which enhance viscosity, improve mouthfeel, and provide balanced sweetness, make it a vital component in many liquid medications, especially cough syrups. This trend is largely influenced by increasing health concerns and a growing elderly population, which often necessitates liquid medications for easier administration. The World Health Organisation (WHO) projects that the global population aged 60 and above will reach 2.1 billion by 2050, significantly driving the demand for corn glucose in syrups and tonics. Pharmaceutical companies such as GSK and Johnson & Johnson are increasingly using corn glucose in medications, thereby fostering corn glucose market value.

Shift Toward Healthier and Sugar-Free Alternatives

The increasing emphasis on health and wellness has resulted in a rising demand for sugar-free and low-calorie foods and beverages. Corn glucose is emerging as a more healthful alternative to conventional sucrose, primarily due to its lower glycemic index. It is being increasingly incorporated into products that are marketed as “health conscious.” For instance, numerous energy drinks and sports beverages, including Gatorade and Powerade, use corn glucose to deliver rapid energy without the elevated sugar levels associated with traditional sweeteners. This shift towards healthier selections is anticipated to further enhance the corn glucose demand, particularly within the beverage and snack sectors.

Industry News

September 2024

The USDA's report anticipates a historic corn yield of 183.1 bushels per acre, leading to an estimated total of 15.14 billion bushels for the 2024 crop year, marking a modest rise from previous forecasts. This estimate is attributed to favourable growing conditions in key agricultural states, with record yields expected in Illinois (225 bpa), Iowa (209 bpa), and Indiana (207 bpa).

September 2024

India is expected to establish itself as a permanent net importer of corn, driven by escalating domestic demand and declining export levels. According to corn glucose market statistics, corn consumption in India is projected to hit a record 37.4 million tonnes in FY 2024, primarily fuelled by the expansion of the food and poultry industry and government initiatives supporting ethanol production.

Opportunities in Corn Glucose Market

A significant opportunity within the market is the growing demand for natural and organic sweeteners, which is largely influenced by health-conscious consumers and the clean label trend. As awareness of the adverse effects associated with high sugar intake increases, corn glucose market opportunities are expected to increase, especially in industries like beverages, snacks, and baked goods. The Organic Trade Association (OTA) reported that organic food sales in the United States reached an unprecedented USD 57.5 billion in 2022. Organic corn glucose, as a natural sweetener is highly preferred in this sector. Furthermore, the rising incidence of diabetes worldwide, projected to impact 643 million individuals by 2030 according to the International Diabetes Federation (IDF), presents an additional opportunity for corn glucose to be used in sugar-free products, thereby enhancing its market potential.

Moreover, the projected 10% increase in the area allocated for corn grain harvesting, estimated at 86.5 million acres in 2023, is expected to positively impact corn glucose demand forecast. With a larger area dedicated to corn cultivation, the resulting increase in corn supply could increase production capacity, which would be advantageous for industries such as food, beverages, and pharmaceuticals that depend on glucose syrup.

Corn Glucose Market Restraints

One of the major restraints in the market is the growing concern about the health impacts of high fructose corn syrup (HFCS), a derivative of corn glucose. With rising awareness of obesity, many consumers are shifting away from products containing HFCS and similar sweeteners. For instance, a report by the Centres for Disease Control and Prevention (CDC) highlights that more than 42% of adults in the United States are affected by obesity, leading to increased scrutiny of high-sugar diets, and slowing down corn glucose demand growth. This has prompted several food and beverage companies, such as PepsiCo and Kraft Heinz, to reformulate their products with healthier alternatives like cane sugar.

Moreover, the implementation of regulatory measures, including sugar taxes in various countries like the UK, Mexico, and certain regions of the United States, has significantly influenced the demand for corn glucose in sugary beverages and processed foods. Research from the World Health Organisation (WHO) has shown that nations that have adopted sugar taxes experienced a reduction of up to 20% in the consumption of sugar-sweetened beverages, which has further impacted the market.

Corn Glucose Industry Segmentation

“Corn Glucose Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

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Corn Glucose Market Regional Insights

North America Corn Glucose Market Share

North America holds a substantial share of the market, driven by its large food and beverage industry and the increasing demand for convenience foods. According to the U.S. Department of Agriculture (USDA), corn production in the U.S. was over 13.7 billion bushels in 2022, making the U.S. one of the leading producers of corn-derived products like glucose. Additionally, in the 2022/23 season, the United States exported approximately 42.5 million metric tonnes of corn, positioning it as the world's second-largest corn exporter. Moreover, the United States is expected to export 53.3 Mt of corn in 2023/24, which is a 26.4% increase compared to the 2023 season. The rising export levels demonstrates the high demand for corn among other regions to produce corn by-products such as corn glucose. This region is also witnessing the use of glucose syrup in cough syrups used in the pharmaceutical sector.

Asia Pacific Corn Glucose Market Drivers

Asia Pacific is the fastest-growing market for corn glucose, driven by changing dietary habits, increasing corn production, and the expansion of the processed food industry. Recent data indicates that China's corn production is expected to grow by 4.2% in the end of 2024, reaching 288.8 Mt. Moreover, India is seeing significant demand due to its large population and growing middle-class income levels. The region's demand for corn glucose is evident in the growing imports levels of corn from USA, LATAM region, and Brazil for the India’s food and beverage sectors. As per industry reports, India imported corn valued at approximately USD 223.16 million from South Africa and Argentina in 2023.

Europe Corn Glucose Market Opportunities

Europe possesses a well-established market for corn glucose. The European Food Information Council (EUFIC) forecasts an annual growth rate of 5.2% for the market of natural sweeteners, including corn glucose. Prominent European companies, such as Tate & Lyle and Cargill, are concentrating on the production of GMO-free and sustainable corn glucose to cater to consumer preferences. Additionally, the robust regulatory environment in the region, exemplified by the EU's initiatives aimed at reducing sugar consumption, is compelling manufacturers to seek alternatives to high-sugar products, influencing product’s demand.

Latin America Corn Glucose Market Growth

In Latin America, the market is witnessing consistent growth, propelled by the burgeoning food and beverage industry. Brazil and Mexico stand out as significant contributors due to their agricultural capabilities and expanding processed food sectors. Mexico's food processing industry has experienced a significant growth in recent years, which has increased the demand for corn glucose as a sweetening agent in snacks, beverages, and baked goods. Moreover, International Grain Council has retained an optimistic perspective on corn production in Brazil, which is anticipated to reach 124.6 million metric tonnes in FY 2024, an increase from previous years. This will also affect market growth.

Middle East and Africa Corn Glucose Market Dynamics

The market in the Middle East and Africa is currently in its early development phase, yet it exhibits significant growth potential. The escalating demand for processed foods and confectionery items in nations such as South Africa and the UAE is contributing to market expansion. Furthermore, the burgeoning pharmaceutical industry, especially in South Africa, is enhancing the need for corn glucose, which is used in medicinal syrups and tonics. The region is also experiencing a rise in investments aimed at improving food processing infrastructure, particularly within the Gulf Cooperation Council (GCC) countries.

Innovative Start-ups in Corn Glucose Market

Start-ups within the corn glucose sector are concentrating on the creation of healthier, organic, and sustainable alternatives to conventional corn glucose products. Many are leveraging advancements in biotechnology to develop low-calorie or sugar-free options in response to the increasing demand from health-conscious consumers. Furthermore, they are focused on using eco-friendly production methods to reduce nitrous oxide emissions and foster sustainable agricultural practices. Some start-ups that have contributed significantly to overall corn glucose market revenue are:

Sweetgreen BioSolutions, founded in 2016 and located in Berlin, Germany, has experienced significant success in the European organic sweeteners market. Since 2018, they have reported an annual growth rate of 30%, with their organic corn glucose now used by over 50 major confectionery brands across Europe. In 2021, they achieved sales surpassing EUR 75 million, driven by their commitment to GMO-free and natural sweeteners. Additionally, their innovative production methods have reduced waste by 15%, further solidifying their corn glucose market share in Europe and other regions.

Ingredion Bio, established in 2014 and based in Illinois, United States, offers corn glucose derivatives and low-calorie sweeteners. A notable milestone for the company is achieving over USD 1.2 billion in revenue by 2022, due to their use of plant-based ingredients in flagship products. They have also successfully reduced their carbon emissions by 25% through environmentally friendly production methods and have formed partnerships with more than 200 food manufacturers worldwide to offer sustainable sweetener solutions.

Competitive Landscape

Major players in the corn glucose market are concentrating on several critical areas. Companies such as Cargill and Ingredion are developing advanced corn glucose offerings, such as Cargill's SimPure range of functional native starches and Ingredion's Homecraft Create rice flours, aimed at fulfilling specific consumer demands for clean label products. Manufacturers are also increasingly procuring corn through non-GMO and sustainable methods. For instance, MGP Ingredients advocates for its clean-label native starches, which are non-GMO and devoid of chemical modifications. Industry players are also focusing on emerging markets in the Asia-Pacific, NA, and Latin America regions, where the demand for processed foods is high.

Key Industry Players

Global Sweeteners Holding Limited was founded in 2001 and is based in Hong Kong, China. It is engaged in the production of premium sweeteners sourced from corn and potato. It caters to the varied requirements of clients in the food and beverage industries.

Cargill Inc., founded in 1865 and headquartered in Minnesota, United States, is a leading American multinational corporation focused on agribusiness. The company's primary sectors encompass the agricultural supply chain, food production, industrial solutions, and financial services. Cargill operates in more than 70 countries worldwide.

Roquette Freres is based in France, Europe and was founded in 1993. It is a prominent global entity in the realm of plant-based ingredients, notably including corn glucose. The company caters to multiple sectors such as food, pharmaceuticals, and cosmetics.

Ingredion Inc., established in 1906 and based in Illinois, United States, produces sweeteners, starches, nutritional ingredients, and biomaterials sourced from renewable raw materials, including corn, tapioca, and the stevia plant. The company has a presence in over 120 countries, serving the textile, food, and paper industries.

Other corn glucose market players include Archer Daniels Midland, among others.

Recent Developments

September 2024

According to recent forecasts from the United States Department of Agriculture (USDA), corn production in New York is anticipated to experience a modest increase in 2024, with an estimated yield of 12.6 million bushels, compared to 12.5 million in 2023. As per corn glucose market analysis, this growth can be attributed to favourable weather conditions, enhanced planting progress, and advancements in agricultural technology.

September 2024

In a recent decision, the Philippines Sugar Regulatory Administration (SRA) has significantly raised import tariffs on artificial sweeteners derived from corn starch, increasing the fee to P1.50 per bag from the previous P30 per bag, marking a staggering rise of 1,900%. This action aims to discourage the importation of less expensive corn-based sweeteners from the United States and can encourage corn glucose market development in domestic sugar industry.

Corn Glucose Market Report Snapshots

Corn Glucose Market Size

Corn Glucose Market Analysis

Corn Glucose Companies