Market Research Report
Glucose Market Size, Share & Trends Analysis Report By Form (Syrup, Solid), By Application (F&B, Pharmaceutical, Cosmetic & Personal Care, Pulp & Paper), By Region, And Segment Forecasts, 2020 - 2028
|Glucose Market Size, Share & Trends Analysis Report By Form (Syrup, Solid), By Application (F&B, Pharmaceutical, Cosmetic & Personal Care, Pulp & Paper), By Region, And Segment Forecasts, 2020 - 2028|
Published: August 16, 2021
Grand View Research, Inc.
Content info: 159 Pages
Delivery time: 2-10 business days
The global glucose market size is expected to reach USD 63.6 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.0% from 2020 to 2028. The market is projected to be driven by the growth in sugar products and shifting preference towards natural ingredients across cosmetics and personal care products.
The increasing demand for glucose (dextrose) in the food and beverages sector especially across bakery and confectionery, dairy, soups, dressings and sauces, and beverages is expected to fuel market growth. The demand is majorly gaining pace from the developing economies including China and India because the bigger firms are building economic opportunities across the food and beverages value chains, particularly to support future business growth. Economic development along with rapid urbanization is fuelling the demand across developing economies.
Glucose syrup is having a potential customer base across the globe due to its widespread usage. It has significant benefits across F&B, pharmaceuticals, as well as cosmetics, and personal care. It helps in flavor and texture enhancement, helps in controlling sucrose and dextrose crystallization in confectionaries, enhances the shelf life of the products, fermentation in bakery products, and helps in retaining moisture among others. These are the major factors supporting the growth and demand for glucose syrup in the market.
The cosmetics and personal care application segment is estimated to witness the largest revenue-based CAGR of 5.5% from 2020 to 2028. The shifting focus of consumers as well as government towards the health and environmental benefits of cosmetics and personal care products is expected to propel the growth of glucose in the cosmetic and personal care industry. For instance, governments are passing guidelines and regulations for the use of synthetics ingredients in the cosmetics sector which can badly impact the health of humans as well as the environment in the long run.
Around 1300 substances are completely banned or heavily regulated and restricted in the EU from the use in cosmetics. One of them is petroleum, otherwise used as mineral oil, petrolatum, and paraffin oil in cosmetics is banned in the EU across cosmetics products including lips, hair, and skincare products. The use of petroleum in cosmetics can cause allergies, infections, Aspiration risks, and clogged pores. These regulations are projected to create growth opportunities for glucose in the respective industry.
In Asia Pacific, the market accounted for a revenue share of 38.7% in 2020 due to growing demand from the presence of a large consumer base across end-use products, including sugar confectionaries and beverages, and personal care products. The easy raw material availability and substantial glucose production capacity are factors driving the market in the region. Along with these potential factors, Asia Pacific is estimated to experience the fastest CAGR (%) from 2020 to 2028. The rapidly expanding food and beverage industry coupled with the increasing demand for clean-label foods and beverages is inclining manufacturers to source sustainable ingredients is supporting the fastest growth over the forecast period.