Global Corn Glucose Market Overview 2018: Growth, Share, Trends and Forecast to 2023
Over the years, the global corn glucose market is growing at a steady rate.
It is used in a wide variety of food products owing to its properties as a sweetener, thickener and a humectant which helps in providing enhanced taste, volume and texture. It is also being used in the beverage and pharmaceuticals industry, which has further given impetus to the market.
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Corn glucose, also known as glucose syrup, is produced from corn starch by employing the process of hydrolysis. It is manufactured using potatoes, wheat, barley, rice and cassava. Corn glucose caters high amounts of calories but serves a fairly low nutritional value. As it enhances flavour, improves appearance, provides smooth texture, prevents sugar crystallisation and adds colour, corn glucose finds various applications in the food sector. Additionally, it is used in the confectionery items such jams, canned fruits, ice-creams, beverages, biscuits, cereals, cough medicines, etc. A new research report by IMARC Group, titled “Corn Glucose Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, estimates that the global corn glucose market reached a volume of US$ 3.5 Million Tons in 2017. The report further anticipates the corn glucose market to reach a volume of US$ 4 Million Tons by 2023, at a projected CAGR of 1% over the forecast period.
One of the primary factors which is augmenting the demand for corn glucose is the constantly thriving food as well as beverage industry across the world. This is due to the rising disposable incomes, improving living standards, changing eating patterns and introduction of cross cultural food.
Another force which is fuelling the growth of the global corn glucose market is varied applications of corn glucose as a thickening and sweetening agent in the preparation of a number of food products such as dairy, desserts, cookies, cakes, sauces, beverages, etc.
Further, corn glucose is also used in the pharmaceutical industry, where it is widely used in the manufacturing of vitamin tonics and cough syrups in order to attain a balanced sweetness.
However, there are several factors that impede the market growth. For instance, food products that contain corn glucose will not satiate the hunger, thereby people often gain weight with excess usage of corn glucose.
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On a geographical front, China enjoys a leading position in the global corn glucose market on account of the high production of corn glucose in the region. China is followed by the United States, Europe, Asia-Pacific (excluding China) and others.
The market is highly fragmented with the presence of many small as well as large manufacturers who compete in terms of prices and quality. There is a rigid competition in the market which makes it difficult for small players to enter the market. Some of the leading players operating in the market are:
Global Sweeteners Holding Ltd.
Archer Daniels Midland
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