The market for high fructose corn syrup was estimated to be worth $8,920.5 million worldwide in 2021. Over the course of the forecast period, it is expected to grow at a compound annual growth rate (CAGR) of 5.5%, reaching $9754 million by 2028.
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"The Global High Fructose Corn Syrup (HFCS) Market 2018-2028 (USD Million)")
The global high fructose corn syrup market has enlarged with a higher demand for for jams, dairy products and confectionary items. HFCS has successfully replaced sucrose in myriad food product. It is becoming highly popular in additive & sweetener due to its beneficial features such as sweetness, acidity and solubility. Thus, the overall growth of HFCS market has garnered momentum. However, shifting lifestyle with rising concerns over health is likely to pose threat to escalating market growth. Along with that, growing population which is prone to diabetes may adversely influence the HFCS market growth.
The global high-fructose corn syrup (HFCS) market is segmented into Latin America, North America, Middle East & Africa, Eastern Europe, Asia Pacific and Western Europe.
North America and Japan are substantial market place for HFCS. North America being the topmost caloric sweetner consumer. Thus, most of the production is majorly for domestic market. While during recent last years, most of the produce was bestowed upon exports.
North America is followed by Asia Pacific and stands at second rank for high fructose corn syrup market size. Higher intake of sweetened food and beverage promotes the growth of market. Developing countries including Japan, China and India will encounter notable opportunities as carbonated beverages, for instance, Coco-Cola consumption in China is gradually increasing. However, countries like Indonesia, Vietnam, Thailand, and the Philippines registered low penetration of HFCS. While for countries like Mexico, United States and Japan, it acts as a cheap substitute for sugar.
Europe is the third largest HFCS market across the globe. But, the progress is comparatively slow and steady in near future due to higher number of industry commitments and policy recommendations have reduced sugar content in food and beverages, suggests that consumption of sugar in EU will deter.
Latin America has significant revenue share and growth is attributed to growing government and private investments in food industry. The high fructose corn syrup (hfcs) market for the Middle East & Africa is expected to hold lucrative growth due to growing middle class populace with their increasing disposable income.
The recorded stats, it’s known that HFCS’s fructose content ranges between 42% to 55%. Hence, by type, it has classification which includes HFCS 55 and HFCS 42; the remaining sugar being primarily higher sugars or glucose. While the segmentation, based-on applications, consists food and beverage and pharmaceutical industry. HFCS used as an essential ingredient in food and beverage industry which covers cereal product, ice-cream, condiments, confections, desserts, dairy, baking, carbonated soft drinks and canning.
The prominent players of global high-fructose corn syrup (HFCS) are Tate & Lyle, Ingredion Incorporated, Showa Sangyo, Kerry Group Plc and COFCO International, Cargill Inc., Archer Daniels Midland Company, Global Sweeteners Holdings Limited, Japan Corn Starch Co. These major players focus on mergers & acquisitions to retain their market position.
High Fructose Corn Syrup (HFCS) Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2028 |
| Study Period | 2018-2028 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2028 | $9754 million |
| Growth Rate | CAGR of 5.5% during 2018-2028 |
| Segment Covered | Product types, product applications, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Tate & Lyle, Ingredion Incorporated, Showa Sangyo, Kerry Group Plc and COFCO International, Cargill Inc., Archer Daniels Midland Company, Global Sweeteners Holdings Limited. |
Key segments of ‘Global High-fructose corn syrup (HFCS) Market’
Based on product types, the market has been segmented into,
- Solid
- Liquid
Based on product applications, the market has been segmented into,
- Soy Sauce
- Drink
Based on region, the market has been segmented into,
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia and New Zealand)
- Middle East and Africa (GCC, Southern Africa, North Africa)
Frequently Asked Questions (FAQ) :
The major players are Tate & Lyle, Ingredion Incorporated, Showa Sangyo, Kerry Group Plc and COFCO International, Cargill Inc., Archer Daniels Midland Company, Global Sweeteners Holdings Limited.
To get latest version of high fructose corn syrup market report can be obtained on demand from the website.
The base year for the report is 2023 in locust bean gum market.