Global Industrial Glucose Market - 2024-2031

Overview

Global Industrial Glucose Market reached US$ 40.2 billion in 2023 and is expected to reach US$ 60.3 billion by 2031, growing with a CAGR of 5.2% during the forecast period 2024-2031.

The increasing usage of alternative sources for industrial glucose production signifies changing dynamics for the global market. Sweet potato and tapioca provide useful alternatives to traditional sources such as wheat and corn, allowing glucose manufacturers to sidestep potential supply chain disruptions from low harvests.

The future growth of the global industrial glucose market could be hampered by the growing popularity of artificial sweeteners. F&B manufacturers are increasingly utilizing artificial sweeteners such as sucralose and aspartame in a wide range of products and have increased their marketing towards calorie conscious consumers. It could reduce the overall demand for industrial glucose, thus disrupting long term market growth.

Dynamics

Growing Launch of New F&B Products

The demand for packaged food and beverage products has accelerated considerably over the past decade and has become more pronounced in emerging regions, such as Asia-Pacific. The urbanized middle and upper middle classes are driving this growth as they seek more convenience. Rising demand has led F&B brands to expand their product lineup of ready-to-eat foods and packaged beverages.

Another major factor influencing new product launch is expansion of companies to new regions. Almost all types of processed food and beverage products contain moderate to high amounts of added sugar to enhance taste and flavor. Furthermore, industrial glucose is the most economical option available for F&B brands for adding sugar. Therefore, as local and multinational F&B brands expand their market presence with new product launches, it will generate a subsequent demand for industrial glucose during the forecast period.

Increasing Consumer Demand For Nutraceuticals

The popularity of nutritional supplements has exploded over the past decade. The increase has been particularly significant due to rising health consciousness in wake of the COVID-19 pandemic. Some research even indicated that vitamin D deficiency was linked to a higher chance of contracting severe COVID-19 infection.

Furthermore, in response to growing consumer demand, many supplement companies are rolling out properly dosed multivitamin supplements in tablet form for ease of usage. Supplement manufacturers are also launching multivitamin supplements for children in gummy form with fruit-based flavoring to make it more attractive for toddlers and children.

The developing market is a lucrative source of growth for global companies and hence recent product launches are mostly focused in emerging markets. For instance, in April 2023, Pfizer, a U.S.-based multinational pharmaceutical and health nutrition company, launched its Centrum range of multivitamin gummies for adults and children in India. Glucose is used in miniscule amounts to add a sweet aftertaste to nutritional supplements. The rising popularity of nutraceuticals will create new growth avenues for the global market.

Rising Rates of Obesity

The world health organization (WHO) estimated that nearly 1 billion people globally were obese in 2023, including nearly 340 million adolescents and 39 million children. Some of the major factors behind the increasing rates of childhood obesity include lack of physical activity and increasing consumption of processed foods, which have high levels of saturated fats and added sugars.

Due to this growing concern about the rising rates of obesity, many governments have imposed various curbs to limit sugar consumption among younger people, including restricting advertisement of processed foods and limiting the quantity of added sugars. The curbs on food products with added sugar will be detrimental to the long term growth of the global industrial glucose market.

Segment Analysis

The global industrial glucose market is segmented based on source, grade, form, application and region.

Standard Purity Industrial Glucose is Expected to Garner the Highest Share During the Forecast Period

Standard purity glucose will garner the highest market share during the forecast period, mainly due to its wide range of applications. It is the main type of glucose used in food and beverage preparations, including confectionery, savory and sweet snacks and various non-alcoholic beverages.

Comparatively, high purity industrial glucose is mainly used in pharmaceutical and nutraceutical preparations, where exacting manufacturing standards and stringent regulations are common. Due to the relatively niche nature of its applications, high purity industrial glucose will always have a smaller overall market share.

Geographical Penetration

Asia-Pacific Expected to Have the Highest Market Share

Asia-Pacific is expected to have the highest share within the global industrial glucose market due to a multitude of factors. Major end-users can have highly scalable growth that is simply not possible in more saturated regions such as North America and Europe. A rapidly urbanizing young population offers significant growth opportunities for major F&B brands, thus significantly augmenting the demand for industrial glucose over the forecast period.

The changing global geopolitical situation also offers significant growth opportunities for the industrial glucose market. For instance, China is increasing its production of animal feed in an effort to reduce its reliance on U.S. imports in a time of growing geopolitical tensions. Total Chinese animal feed production increased by 3% over 2022 to nearly 302 million metric tons. A rise in Chinese animal feed production will also provide new growth opportunities for the global industrial glucose market during the forecast period.

COVID-19 Impact Analysis

The COVID-19 pandemic created challenges as well as opportunities for the global industrial glucose market. The pandemic lockdowns created agricultural labor shortages, thus affecting wheat and corn harvest, thereby injecting volatility in the supply of feedstock material for industrial glucose production.

Consumer behavior also changed over the course of the pandemic with consumer across various income groups cutting back on processed foods and beverage purchases. A reduced demand from F&B companies led to a fall in prices of industrial glucose. Although some categories of pharmaceuticals and nutraceuticals did experience increased demand, it was not enough to offset decline from the F&B industry.

The prices and demand for industrial glucose experienced a relatively quick recovery in the aftermath of the pandemic, however, the industry is likely to take a few years to recover completely from the aftereffects of the COVID-19 pandemic. Many major producers have now begun to expand production capacity in anticipation of increased future demand.

Russia-Ukraine War Impact Analysis

At the beginning of the Russia-Ukraine war it seemed that the war will negatively impact the wheat production in Ukraine, thus raising volatility in the industrial glucose market. However, with a grain deal, allowing for secured transit of Ukrainian grain through the Black Sea, the volatility was greatly reduced even as the hostilities intensified.

The European Union (EU) and U.S. imposed severe economic sanctions on Russia, which completely disrupted the supply of industrial glucose for the Russian market. Furthermore, demand also witnessed a temporary downturn, due to the exodus of western F&B brands from the local market. Russia had to resort to grey market imports and increase domestic production to fill the gap left by export bans from western producers.

By Source

• Corn
• Wheat
• Potato
• Others

By Grade

• Standard Purity
• High Purity

By Form

• Liquid
• Granular

By Application

• Food & Beverage
• Pharmaceuticals
• Industrial
• Animal Feed
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• In December 2023, global prices for various sugars, including glucose, dropped to multi-month lows, mainly on account of weak buying sentiment and production saturation.
• In September 2023, the international sugar organization (ISO) announced that the world was facing a sugar production shortfall and total global production could decrease by nearly 1.5% over 2022.

Competitive Landscape

The major global players in the market include ADM, Cargill Incorporated, Grain Processing Corporation, Tate & Lyle, Tereos S.A., Fooding Group Limited, Roquette Freres, Ingredion, AGRANA Beteiligungs-AG and Global Sweeteners Holdings Limited.

Why Purchase the Report?

• To visualize the global industrial glucose market segmentation based on source, grade, form, application and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of pouch tapes market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global industrial glucose market report would provide approximately 60 tables, 60 figures and 199 Pages.

Target Audience 2024

• Processed Food Manufacturers
• Pharmaceutical Companies
• Industry Investors/Investment Bankers
• Research Professionals