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The global glucose syrup market is projected to witness strong growth during the forecast period between 2021 and 2031.
Glucose syrup is a sweetening liquid product that is obtained after glucose molecule is hydrolyzed. Glucose syrup is free of fat content but comprises large amounts of calories. Some of the ingredients used to produce glucose syrup include rice, corn, potato, and wheat.
The outbreak of COVID-19 pandemic adversely affected growth in global glucose syrup market. Increasing number of cases worldwide led to governments imposing strict social distancing regulations and lockdowns in a bid to contain the spread of the virus.
This led to temporary or permanent closure of food production units which reduced the glucose syrup demand to manufacture food products and in turn, lowered the growth in overall market.
However, with large population sections double vaccinated and also approval given to the use of third precautionary booster dose, it is expected that food production units will resume operations soon leading to increased glucose syrup demand and trigger market growth.
Rising glucose syrup demand to manufacture baked food products is the key growth driver of global glucose syrup market.
Also, increasing demand for convenient food products could help trigger glucose syrup demand and help create revenue-generating opportunities for prominent players in overall market, in the coming years.
In addition to this, rising product demand as suitable alternative for sugar in production of ice-creams and chocolates could also stimulate the growth in global glucose syrup market, in the years ahead.
Other factors such as rapid urbanization and rising disposable income could also generate large amounts of revenue for leading players in overall glucose syrup market, in years to come.
Food grade segment is expected to emerge as largest contributor to overall market owing to increasing demand for glucose syrup to manufacture bakery products in leading economies globally.
With presence of numerous prominent players, competition in global glucose syrup market is intense. It is expected that leading players will continue to hold a large share in global market, in the coming years.
New product launches could help leading glucose syrup market players in gaining an edge over competitors and in creating revenue-generating opportunities.
Also, growth strategies such as establishment of research and development centers to manufacture improved products could be key, revenue-generating growth strategy for well-established glucose syrup market players, in the years ahead.
Signing of collaborative agreements with smaller players could help prominent glucose syrup market players in expanding their presence in overall market and increasing their revenue.
Some of the leading players in overall glucose syrup market include Archer Daniels Co., Cargill Inc., Grain Processing Corporation, Ingredion, and Agrana Group.
The global glucose syrup market is classified into five regions, namely, North America, Asia Pacific, Europe, Latin America, and Middle East and Africa.
Asia Pacific is expected to be the dominant region in global glucose syrup market because of increasing consumer demand for sugar alternatives in countries such as India and China.
Europe is projected to witness significant growth in global glucose syrup market owing to increasing product demand in countries such as the U.K and Germany.
North America is expected to witness strong growth in overall glucose syrup market due to improving eating habits among population sections residing in countries such as the U.S and Canada.
Other regions of the world such as Latin America and Middle East and Africa are anticipated to witness moderate growth in global glucose syrup market, in years to come, due to reduced presence of prominent players in countries belonging to both the regions.
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Glucose Syrup Market
