PUBLISHER: Allied Market Research | PRODUCT CODE: 1140150
PUBLISHER: Allied Market Research | PRODUCT CODE: 1140150
The global corn syrup market was valued at $9,805.2 million in 2021, and is estimated to reach $13,532.1 million by 2031, registering a CAGR of 3.2% from 2022 to 2031.
Corn syrup is produced from corn starch by adding acid or enzymes to the corn starch in hydrolysis process. Corn syrup is frequently used in confectioneries and other food items for softening texture, eliminate sugar crystallization, improve flavor, and add volume. In addition, it is used as a natural sweetener in variety of food and beverages products. Its low cost and abundant availability make it more preferable over sugar among the food & beverage manufacturers.
The global corn syrup market is expected to grow at a significant rate owing to rise in consumption of processed food & beverages. Availability of corn syrup at low cost has made it a popular choice among food & beverages manufacturers. Furthermore, high costs and price fluctuations of sugar have led to increased adoption of corn syrup as an alternative to sugar. In addition, surge in penetration of fast food chains such as Subway, Taco Bell, KFC, and McDonald's is boosting the demand for processed food and soft drinks. Huge utilization of corn syrups in the production of soft drinks and processed food is significantly driving the growth of the global corn syrup market.
The growth of the global corn syrup market is further driven by rise in global population, which fuels the demand for packaged food & beverages. The presence of huge population in the developing regions of Asia and Africa is anticipated to foster the market growth, owing to the growing pressure on the food manufacturing companies to produce food & beverages at low cost.
The global corn syrup market is segmented into type, application, distribution channel, and region. On the basis of type, the market is segregated into light syrup, dark syrup, corn syrup solids, and high fructose corn syrup (HFCS). By application, it is categorized into food & beverages and pharmaceuticals. Depending on distribution channel, it was divided into B2B and B2C. Region wise, the market was analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, South Africa, Saudi Arabia, and rest of LAMEA).
The key players operating in the global corn syrup market are constantly engaged in strategic developments like partnerships, joint ventures, acquisition, and mergers to exploit the prevailing corn syrup market opportunities. Business expansion has emerged as a key strategy among the market players to strengthen their position and achieve growth in the long term. The major players operating in the market include Archer Daniels Midland Company, Cargill, Incorporated, Associated British Foods Plc, COFCO Corporation, Global Sweeteners Holdings Ltd., Ingredion Incorporated, Kent Corporation, Luzhou Bio-chem Technology Limited, Roquette Freres, and Tate and Lyle PLC.
Key Benefits For Stakeholders
The report provides an extensive analysis of the current & emerging trends and opportunities in the global corn syrup market.
It provides detailed qualitative and quantitative analysis of current trends and future estimations that assists to evaluate the prevailing market opportunities.
Comprehensive analysis of factors that drive and restrict the growth of the market is provided.
Extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.
The report provides extensive qualitative insights on the potential and niche segments or regions exhibiting favorable growth.
Key Market Segments
By Type
By Application
By Distribution Channel
By Region