According to research by Future Market Insights, The Corn sweeteners market is anticipated to expand at a CAGR of 6.01%. during the forecasted period. According to Forecasts, the market would be worth US$ 17,178.4 Million by 2033, up from US$ 9,502.3 Million in 2023.
| Attributes | Details |
|---|---|
| Market size value in 2023 | US$ 9,502.3 Million |
| Market forecast value in 2033 | US$ 17,178.4 Million |
| Forecast period | 2023 to 2033 |
| Global growth rate (CAGR) | 6.01%. |
| Share of United Kingdom in Corn sweeteners Market | 4.80% |
Corn sweeteners are made from corn starch and contain varying amounts of maltose and higher oligosaccharides depending on the grade. The most common corn sweetener is corn syrup, also known as glucose syrup. Corn syrup is distinct from high-fructose corn syrup (HFCS), which is made by converting a significant portion of glucose into fructose, yielding a sweeter product.
Corn-based sweeteners are an essential component in any formulator's toolkit for improving the appearance, texture, aroma, and performance of foods and beverages. Corn sweeteners are more stable than powdered sucrose, especially in acidic beverages, and are available in liquid form, making them easier to handle, transport, and mix.
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The market for Corn sweeteners was growing at CAGR of 2.90% from 2018 to 2022. Corn sweeteners market was valued at US$ 8,236.7 Million 2018 and it letter reached US$ 9234.5 Million in 2022.
Because corn sweeteners are easy to transport, they are commonly used in soft drink formulations. Domestic sugar production quotas, international sugar import tariffs, and USA corn subsidies are just a few of the factors driving up demand for corn sweeteners. Furthermore, the rise in the price of sucrose in comparison to corn sweetener contributes to the widespread use of corn sweetener.
The growing preference in food preparation for alternative and cost-effective sweeteners is expected to drive growth in the global corn sweeteners market. Growing demand for corn sweeteners in food manufacturers, which provides advantages over sucrose such as ease of handling and good stability, will also drive target market growth in the coming years.
North America has established itself as the largest market share holder in the corn sweeteners industry. Corn sweeteners are a type of food additive used for flavoring and adding sweetness to products such as cookies, cakes, and other baked goods.
The primary factor driving this growth is increased consumer preference for processed foods with natural ingredients. Consumers are increasingly favoring naturally occurring sugar sources such as corn syrup over artificial sweeteners like high-fructose corn syrup (HFCS). North American manufacturers have responded to this demand by increasing production of natural corn syrups which is fueling growth in the region’s market share. Additionally, higher consumption of convenience snacks like candy bars and snack cakes is also contributing towards a larger market presence in North America.
Europe is an increasingly attractive market for corn sweeteners. This is due to the fact that it offers a variety of geographical, economic, and cultural benefits that make it a valuable region for this particular industry.
First and foremost, Europe contains many diverse countries with different tastes and preferences when it comes to food products, allowing companies to customize their offerings accordingly. Moreover, the region's large population size provides ample opportunities for sales growth in all markets. Additionally, Europe has a well-developed infrastructure that facilitates distribution of goods from one country to another. Furthermore, European nations are generally open to imports from other regions which makes it easy for manufacturers to enter new markets quickly and efficiently. Europe has many free trade agreements with other countries around the world as well as its own unified single market.
The Asia Pacific region is emerging as an increasingly opportunistic market for corn sweeteners. With its vast population and growing demand for processed food products, the region has become a hot bed of activity for global suppliers of corn sweeteners. According to recent research, this trend is largely driven by an increasing number of countries in the region that are developing policies and regulations to support their domestic production and consumption of these products.
At the same time, rising disposable income levels in many countries have resulted in increased consumer demand for convenience-oriented food items such as ready-made snacks and desserts – all of which require corn sweeteners as key ingredients. Moreover, numerous multinational companies have been establishing regional manufacturing sites to capitalize on the lower cost base and local accessibility offered within various Asia Pacific markets.
Principal Consultant
The food and beverage industry is playing a major role in the growth of corn sweeteners market. Corn sweeteners are gaining popularity as natural, low-calorie alternatives to traditional sugar and artificial sweeteners. The global demand for corn sweeteners is being driven by increasing consumer awareness regarding health benefits associated with their use.
Food and beverage manufacturers are actively engaging in R&D to produce products that contain corn sweetener as an ingredient. This has enabled them to develop products that offer superior taste, texture, quality and nutritional value compared to other conventional ingredients such as sugar or artificial sweeteners. Additionally, food and beverage companies are collaborating with local farmers in order to ensure availability of raw material for their production processes. This ensures stable prices of corn sweetener at the retail end which further promotes its usage among consumers globally.
Dairy products are expected to experience the maximum growth in demand for corn sweeteners over the next few years. The projected growth is driven by increasing consumer demand for natural sweeteners, as well as rising health awareness and concerns about sugar consumption. In addition, due to advancements in food processing technologies, corn sweeteners have become easier and more cost-effective to use than other traditional sweeteners.
The use of corn sweeteners in dairy products has already been on the rise over the last few years. This trend is projected to accelerate further owing to their affordability and versatility when used as a substitute for sugar or artificial sweeteners in various types of dairy products such as yogurts, ice creams, creamers etc.
The competitive landscape of the corn sweeteners market is constantly evolving. With new innovations in production processes and technological advancements, the industry is being reshaped. Market players are competing on multiple fronts for a share of this rapidly expanding sector.
The key players in this market include some of the top agro-industrial companies such as Archer Daniels Midland Company (ADM), Cargill Inc., Ingredion Incorporated, Tate & Lyle PLC, , Grain Processing Corporation (GPC), Roquette Freres S.A., and among others. These companies have established their presence through extensive research and development activities in order to provide consumers with high quality corn sweeteners products at competitive prices.
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| Attribute | Details |
|---|---|
| Forecast period | 2023 to 2033 |
| Historical data available for | 2018 to 2022 |
| Market analysis | USD million in value |
| Key regions covered |
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| Key segments covered |
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| Key companies profiled |
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| Customization and Pricing | Available upon request |
The Corn sweeteners market size is assessed to US$ 9,502.3 Million in 2023.
The Corn sweeteners market is expected to rise at a CAGR of 6.01%.
USA, China, Canada, Germany, China, India, UK, Australia are the major countries driving demand for Corn sweeteners market.
Market share of Germany in Corn sweeteners market is about 27.30% of the global market.
Cargill, Amylum Group SA, ADM, Tate & Lyle, AGRANA Beteiligungs-AG, Ingredion Incorporated are expected to be the top players driving the market growth.
The global Corn sweeteners market is forecasted to surpass US$ 17,178.4 Million by the end of 2033.
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