The increasing use of glucose, especially glucose syrup, in the food and beverage and pharmaceutical industry, is expected to boost the Glucose Market during the forecast period.
The SNS Insider report indicates that the Glucose Market Size is evaluated at USD 48.19 billion in 2022 and is expected to reach USD 76.82 billion by 2030 with a healthy CAGR of 6.0% over the forecast period 2023-2030.The glucose market is experiencing significant growth driven by its diverse applications in various industries, including food and beverage, pharmaceuticals, and energy. Glucose, also known as dextrose, is a simple sugar derived from starches such as corn, wheat, and potatoes. It serves as a vital source of energy for the human body and is widely used as a sweetener, thickener, and stabilizer in food and beverage products. Additionally, glucose is utilized in pharmaceutical formulations as a binder, excipient, and osmotic agent in tablets, syrups, and intravenous fluids. With the increasing demand for convenience foods, functional beverages, and healthcare products, the demand for glucose is expected to continue rising, driving investments in production, processing, and innovation by industry players.
Market Report Scope:
Glucose has a diverse demand across various industry verticals such as food and beverages, pharmaceutical, cosmetic and personal care, and pulp and paper. One of its major properties is preventing the crystallization of sugar molecules in confectionaries. The surge in demand for functional beverages and the quality of sweetening, along with the durability of product life, are driving factors for the glucose market. Additionally, glucose's use in the pharmaceutical industry for diabetic and other nutritional supplements is bolstering its market growth. However, increasing health consciousness among consumers and the rising popularity of natural sugar sources pose challenges to market growth.
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Some of the Key Players Included are:
Roquette Freres, Cargill, Inc, Tate & Lyle PLC, Ingredion Inc., ProAgro GmbH, Tereos SCA, Grain Processing Corporation, Global Sweeteners Holdings, Fooding Group Limited, Gulshan Polyols, Pfizer, Inc., Sigma Aldrich Corporation, Atn Investments Pty Ltd., Archer Daniels Midland Company, Avebe Group, AGRANA, and other players.
Market Analysis:
The increasing demand for confectionery products and the widespread use of glucose in the industry as a sweetener are key drivers for market growth. The food and beverage industry's surge in usage for functional beverages, coupled with the taste, quality of sweetening, and product durability, further fuels the market. Glucose's application in personal care products, such as toothpaste, enhances texture and thickness, contributing to consumer demand. However, challenges arise from the rising popularity of gums over starch-derived products, impacting the use of glucose in the food industry.
Segment Analysis:
Based on nature, Glucose extracted from organic sources is expected to remain the major revenue-generating segment. In terms of end-users, the food and beverages segment dominated the market in 2022, contributing to 48% of the revenue. The wider application segment, including bakery and confectionery, dairy, soups, dressings, and sauces, drives maximum revenue share due to the rapidly expanding food and beverages sector globally.
By Source
l Corn starch
l Wheat starch
l Other
By Nature
l Organic
l Synthetic
By End-User
l Food and Beverage
l Bakery Industry
l Nutraceuticals Industry
l Pharmaceutical Industry
l Animal husbandry industry
l Others
Key Regional Development:
Asia Pacific dominated the glucose market with a 35% revenue share in 2022. The region's large customer base, especially in economies like India and China, contributes significantly to the market value. The increasing demand for food and beverage products, coupled with economic development, supports market growth. In North America, ongoing research activities and the presence of key players drive substantial market share, with strategies like introducing low-price and low-calorie products providing growth opportunities.
Key Takeaways for Glucose Market Study:
· The global glucose market is set to exceed USD 76.82 billion by 2030, propelled by the growing demand for confectionery and functional beverages.
· Glucose extracted from organic sources and the food and beverages segment, with its diverse applications, are dominating the market.
· Asia Pacific leads the market, driven by a large customer base and increasing demand for F&B products, while North America anticipates substantial growth with ongoing research activities and strategic product introductions.
· Challenges include the rising popularity of gums, posing competition to starch-derived glucose products in the food industry.
Recent Developments:
· In December 2023, Pfizer Inc. announced positive results from the Phase 2b clinical trial for its oral Glucagon-like peptide-1 receptor agonist (GLP-1RA) candidate, danuglipron, for adults with obesity and without type 2 diabetes.
· In October 2023, Roquette added three new excipient grades to its portfolio of solutions for moisture-sensitive active pharmaceutical and nutraceutical ingredients.
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