High-Fructose Corn Syrup Market Analysis North America, APAC, Europe, Middle East and Africa, South America - US, China, Germany, UK, Canada - Size and Forecast 2024-2028

High-Fructose Corn Syrup Market Size 2024-2028

The high-fructose corn syrup market size is forecast to increase by USD 782.7 million, at a CAGR of 2.3% between 2023 and 2028.

• The market is experiencing significant growth due to the increasing demand for sugar-free and low-calorie dietary options. Consumers are increasingly conscious of their health and are seeking out sweetener products that do not contain sucrose. Additionally, there is a growing trend towards clean labeling, with many preferring natural ingredients over synthetic additives. However, the market faces challenges such as raw material shortages and shipping delays due to the reliance on corn as a primary raw material and the corn wet milling process. Furthermore, corn subsidies in the US have led to an oversupply of corn, which can impact market pricing. Despite these challenges, the market for HFCS continues to grow as it is also used as a humectant in various food and beverage applications.

What will be the Size of the Market During the Forecast Period?

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• High-fructose corn syrup (HFCS) is a popular liquid sweetener used extensively in the food and beverage industry. It is derived from corn starch and undergoes an enzymatic process to convert glucose molecules into fructose. This sweetener provides a unique blend of sweetness that is often preferred in various food applications. HFCS has gained significant traction in the food industry due to its versatility as a bulk sweetener. It is commonly used in processed foods, confectionery, baked goods, and carbonated drinks. In addition to its sweetening properties, HFCS also serves as a humectant, preservative, and excipient in various food products. Despite its widespread use, there have been growing health concerns surrounding HFCS. Consumption of HFCS has been linked to obesity, diabetes, and metabolic syndrome. These health issues have led to an increasing focus on sugar reduction in food and beverage offerings. The health and wellness trend has driven the demand for alternative sweetener products, such as sucrose and natural sweeteners.
• However, HFCS continues to be a preferred choice due to its cost-effectiveness and functional benefits. Corn subsidies have played a significant role in the affordability of HFCS. The availability of cheap corn has made it an attractive option for manufacturers, leading to its widespread use in various food applications. Despite the health concerns, HFCS offers several nutritional benefits. It is a carbohydrate source that provides energy and contributes to the overall caloric intake of a diet. Additionally, HFCS can improve the texture and shelf life of various food products. In conclusion, the market is a dynamic and complex industry. It is influenced by various factors, including health concerns, consumer preferences, and government policies.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• Application
  • Food and beverage
  • Apiculture and pharmaceutical
• Geography
  • North America
    • Canada
    • US
  • APAC
    • China
  • Europe
    • Germany
    • UK
  • Middle East and Africa
  • South America

By Application Insights

• The food and beverage segment is estimated to witness significant growth during the forecast period.

High-Fructose Corn Syrup (HFCS) is derived from corn kernels through a process involving high-speed centrifugation and enzyme addition, resulting in a thick syrup. This carbohydrate source is economical compared to granulated sugar and serves as a bulk sweetener in various industries. HFCS is extensively utilized in value-added food categories, including baked goods, candies, cereals, condiments, and packaged foods like potato chips. The food and beverage sector represents the largest end-user segment for HFCS, with its application extending to carbonated soft drinks, beverages, yogurts, and frozen foods such as ice creams, confections, and juices. HFCS's excipient benefits, including superior water control, make it an indispensable ingredient in these products.

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The food and beverage segment was valued at USD 4.51 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

• North America is estimated to contribute 43% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The North American market is projected to expand at a steady pace over the coming years. With a significant consumer base in North America, the demand for HFCS is primarily driven by the production of cookies, jams, marmalades, sweetened yogurts, ice creams, oral dosages, cereal products, and dairy items. However, the market growth is somewhat hindered by the decreasing consumption of non-alcoholic beverages in the region. Health concerns, including obesity and diabetes, have resulted in a decline in demand for HFCS. Nevertheless, the market remains strong in South America. Corn production in North America is a significant factor contributing to the cost-effectiveness of HFCS as a sweetener. In the Americas, there is a growing trend towards natural and new sweeteners like stevia extracts, which may impact the demand for HFCS in the future.

Market Dynamics

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

What are the key market drivers leading to the rise in adoption of High-Fructose Corn Syrup Market?

Increasing demand for sugar-free and low-calorie diets is the key driver of the market.

• In today's fast-paced world, dietary habits have undergone a notable transformation, with an increasing preference for convenient and processed foods. This shift in consumption patterns has raised health concerns, particularly in relation to high-fructose corn syrup (HFCS), a common sweetener used in various food and beverage products. HFCS has been linked to various health issues, including obesity, diabetes, and other chronic conditions. Moreover, there are specific health conditions, such as celiac disease and gluten sensitivity, that require individuals to avoid HFCS due to its potential to aggravate digestive issues and inflammation. Celiac disease, a condition that affects the small intestine, can cause symptoms such as bloating, headache, constipation, diarrhea, and weight loss.
• Gluten sensitivity, on the other hand, can lead to attention deficit hyperactivity disorder (ADHD) and impair healthy brain function. Unfortunately, there is no known cure for celiac disease, and the only viable solution is to adhere to a strict gluten-free diet. Given these health concerns, it is essential for consumers to be aware of the potential risks associated with HFCS and make informed choices regarding their food and beverage consumption.

What are the market trends shaping the High-Fructose Corn Syrup Market?

An increase in awareness of clean labeling is the upcoming trend in the market.

• In the realm of sweetener products, the sourcing of raw materials and logistics have emerged as significant challenges for the High-Fructose Corn Syrup (HFCS) market. The shortage of corn and shipping delays have caused concerns for corn wet milling producers, leading to potential price hikes and supply chain disruptions. As consumers increasingly prioritize health and wellness, sugar reduction is a key trend driving demand for HFCS alternatives, such as sucrose and other natural sweeteners. However, corn subsidies in the US continue to influence the market dynamics, making it a complex landscape for market players. Furthermore, HFCS is also used as a humectant in various industries, adding to its market value.

What challenges does High-Fructose Corn Syrup Market face during the growth?

Growing health concerns about diabetes and obesity is a key challenge affecting the market growth.

• The consumption of High-Fructose Corn Syrup (HFCS), a liquid sweetener derived from corn starch and composed of glucose and fructose molecules, has been a subject of concern due to its potential health risks. HFCS is extensively used in food and beverage production, providing sweetness and enhancing taste. However, the long-term use of HFCS has been linked to obesity, diabetes, and metabolic syndrome. The high caloric content of HFCS, which is approximately 55% fructose and 45% glucose, contributes to weight gain and increased body fat. Furthermore, the body metabolizes fructose differently than glucose, leading to insulin resistance and the production of triglycerides.
• This can result in an unhealthy increase in body weight and other health complications. For example, research conducted in Ireland revealed that the consumption of HFCS has significantly contributed to the high rates of obesity, with approximately 25% of children and 60% of adults being affected. As consumers become increasingly health-conscious, there is a growing demand for alternative sweeteners. Therefore, it is essential for food and beverage manufacturers to consider the health implications of using HFCS and explore alternative sweeteners to meet consumer demands while maintaining product quality and taste. In conclusion, while HFCS is a versatile ingredient in food and beverage production, its long-term use has been linked to health concerns such as obesity, diabetes, and metabolic syndrome.

Exclusive Customer Landscape

The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, market forecasts, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Archer Daniels Midland Co.
• Cargill Inc.
• COFCO Corp.
• Daesang Corp.
• Gateway Food Products
• Global Bio chem Technology Group Co. Ltd.
• Gulshan Polyols Ltd.
• HL Agro Products Pvt. Ltd.
• Ingredion Inc.
• Kasyap Sweetners Ltd.
• Kerry Group Plc
• Phywon System Ingredient Sdn. Bhd.
• Roquette Freres SA
• Sudzucker AG
• Tate and Lyle PLC

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Research Analyst Overview

High-fructose corn syrup (HFCS) is a popular liquid sweetener used extensively in the food and beverage industry. It is produced from corn starch through a process called corn wet milling, which converts glucose molecules into fructose. The resulting sweetener provides greater sweetness than sucrose, making it an ideal choice for various value-added food categories. The market for HFCS is driven by its extensive use in food and beverages, including carbonated soft drinks, baked goods, confectionery, and processed foods. However, health concerns related to obesity, diabetes, and metabolic syndrome have led to an increasing demand for alternative sweeteners. Corn subsidies and the availability of raw materials have historically kept the cost of HFCS low, making it a cost-effective bulk sweetener.

HFCS is also used as a humectant, preservative, and carbohydrate source in various industries, including bakery, beverage, and pharmaceutical. Despite its benefits, the market for HFCS faces challenges such as raw material shortages and shipping delays, which can impact its availability and price. The trend towards health and wellness, sugar reduction, and the adoption of zero-calorie, low-calorie, and high-intensity natural sweeteners are also impacting the market. HFCS is used in a variety of applications, including jellies, jams, marmalades, sweetened yogurts, ice creams, oral dosages, and cereal products. It is also used in the dairy industry as a sweetener and in the production of honey, providing moisture retention and freshness to the final product.

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What are the Key Data Covered in this Market Research and Growth Report?

• CAGR of the market during the market forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming market growth and trends and changes in consumer behaviour
• Growth of the market across North America, APAC, Europe, Middle East and Africa, and South America
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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