NEW YORK, March 16, 2023 /PRNewswire/ -- Major players in the glucose market are Archer Daniels Midland Company (ADM), Ingredion Incorporated, Agrana, Tate & Lyle, Cargill Inc., Roquette Frères, Grain Processing Corporation, Tereos, Gulshan Polyols, Global Sweeteners Holdings Limited, and Avebe Group.
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The global glucose market grew from $48.01 billion in 2022 to $51.37 billion in 2023 at a compound annual growth rate (CAGR) of 7.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The glucose market is expected to grow to $63.11 billion in 2027 at a CAGR of 5.3%.
The glucose market consists of sales of dates, apricots, raisins, currants, cranberries, prunes and figs.Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The glucose are used to deliver carbohydrate calories when a person is unable to eat due to illness, accident, or another medical condition.Glucose is the most common form of sugar in the blood and the body's primary source of energy.
Glucose is used in the production of flavor enhancers, stabilizers, taste enhancers, humectants, vitamins, preservatives, coatings, and bulking agents. The main property of glucose is that it prevents sugar molecules from crystallizing in confectionaries.
North America was the largest region in the glucose market in 2022.Asia-Pacific is expected to be the fastest growing region in the forecast period.
The regions covered in the glucose market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of forms of glucose are syrup and solid.Glucose syrup is a refined and concentrated solution of dextrose, maltose, and higher saccharides, obtained by hydrolysis of starch.
The different sources include wheat, corn, and others, and are used in food and beverage, pharmaceutical, cosmetics, personal care, pulp, and paper, among others.
The increasing demand from the bakery and confectionery sector is expected to propel the growth of the glucose market going forward.Confectionery is a term used to describe a type of sweets or chocolates made with sugar and high in carbohydrates.
Bakers' confections and sugar confections are the two most common varieties of confectionery.As glucose enhances the flavor of candies and other foods, it is utilized in the creation of bakery and confectionery products.
For instance, according to the National Confectioners Association (NCA), from March 2020 to August 2020, there is an increase in the consumption of chocolate during pandemic times. Also, during this time, sales of premium chocolate in the grocery channel increased up to 21.4% compared to the last year, and the chocolate segment in retail sales and grocery stores increased to 17.9%. Therefore, increasing demand from the bakery and confectionery sector is driving the growth of the glucose market.
The introduction of low sugar glucose syrup has emerged as a key trend gaining popularity in the glucose market.Major companies operating in the glucose market are focused on the introduction of low-sugar glucose syrups to meet consumer demand and reinforce their position.
For instance, in November 2020, Ingredion, a US-based company that manufactures glucose-related products launched a stable sweet low sugar glucose syrup.It is manufactured with the help of corn.
The company would bring these stable sweet low sugar glucose syrups in different forms such as chewy sweets, lollipops, hard-boiled candy, jellies, and gummies. This helps to reduce stickiness and sugar recrystallization of the final product while providing improved color and shelf-life stability.
In July 2020, Ingredion Incorporated, a US-based food company acquired PureCircle Limited for an undisclosed amount.The acquisition resulted in the extension of the Ingredion Incorporated product portfolio with PureCircles' global innovation and manufacturing expertise.
PureCircle Limited is a US-based company that manufactures plant-based stevia sweeteners and glucose syrup.
The countries covered in the glucose market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The glucose market research report is one of a series of new reports that provides glucose market statistics, including glucose industry global market size, regional shares, competitors with a glucose market share, detailed glucose market segments, market trends and opportunities, and any further data you may need to thrive in the glucose industry. This glucose market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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