High Fructose Corn Syrup Industry Report by Regional Category Spend, Price Analysis, Key Demand, Price Indicators, and Best Buying Practices

The global high fructose corn syrup market reached a value of USD 7.84 Billion in 2021. The industry is expected to grow at a CAGR of 2.5% in the forecast period of 2022-2027 to reach a value of USD 9.26 Billion by 2027.

The high fructose corn syrup industry report comprehensively analyses the industry, including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. High fructose corn syrup has become a popular substitute for granulated sugar and honey. The market is observing substantial growth because of its extensive usage as a sweetener in several processed food and beverages products. North America is the highest category spender by region that is driving the demand for the high fructose corn syrup industry.

Industry Definition and Segmentation

High fructose corn syrup also called glucose-fructose, is a sweetener manufactured from cornflour and a few of its glucose content gets converted to fructose which is utilised in the production of foods and soft drinks commercially as a less costly substitute for sucrose. High fructose corn syrup has been defined as a safe ingredient for applying in food and beverage products by the US Food and Drug Administration. This sweetener is prominently used in the food industry as an alternative to sucrose. The global high fructose corn syrup industry report comprises segments based on applications (food and beverages, pharmaceuticals, and animal feed) and regions (Europe, North America, Asia Pacific, Latin America, and the Middle East and Africa).

The North America Region is Driving the Growth of the Industry

Owing to the increasing demand for high fructose corn syrup in the United States, North America has become the biggest consumer of the product. This high level of demand is primarily because of its extensive utilisation in the confectionery, bakery, and beverage industries, specifically soft drink production. The most popularly used types of high fructose corn syrup in the United State are the HFCS 42 (used in processed foods, cereals, beverages, and baked goods), HFCS 55 & HFCS 65 (utilised in soft drinks), and HFCS 70 (utilised in filling jellies). Moreover, the American manufacturers have increased their exports of the sweetener during the early 21st century.

Due to the varied usage of high fructose syrup as a sweetener in multiple food and beverage products such as bakery items, confectionery, and carbonated soft drinks and at times as a preservative in pickles, the market is witnessing considerable growth. Also, since the sweetener has a comparatively competitive price over the other kinds, has superior solubility and the capability to stay in the solution without forming crystals unlike commonly used table sugar has helped in propelling the global market. Other than food and beverages producers, firms from pharmaceuticals and nutraceuticals also have a huge demand for high fructose corn syrup.

However, the developing lifestyle and increasing health awareness amongst the consumers have negatively affected the high fructose corn syrup market. Furthermore, the growth in diabetes and obesity rates linked to the consumption of high-calorie sweeteners such as high fructose corn syrup has encouraged the consumers to move towards low or zero-calorie sweeteners such as stevia leading to its low sales in the market globally.

Best Procurement Practices

The global high fructose corn syrup industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by high fructose corn syrup providing and utilising regions across the globe, such as contract terms, engagement models, and buyer and supplier negotiation levers, among others.

Category Management Studies

High fructose corn syrup is produced in an easier and more cost-effective manner relatively than table sugar. It is essentially comprised of monosaccharides glucose and fructose in its free and open form and is prepared by chemical and enzymatic hydrolysis of corn starch that includes amylose and amylopectin converted into corn syrup containing primarily glucose followed by isomerisation of glucose into fructose. The vapour substance of this syrup ranges between 23% and 29%. High fructose corn syrup consists of measures of riboflavin, niacin, pantothenic acid, folic acid, vitamin C, calcium, iron, magnesium, phosphorus, potassium, sodium, and zinc.

Tactical Investments by Leading Players in the Market Anticipated to Further Drive the Procurement High Fructose Corn Syrup

Since there is an increase in the demand for sweeteners made from corn starch, there is a growth in the number of corn starch producers in the market who are investing in the corn starch and sweeteners market around the globe. These manufacturers are helping in building the economy and community of their own respective countries while aligning their business for long-standing progress. For example, a new corn starch factory was opened by AGRANA at Aschach an der Donau site in Austria by investing EUR 80 million, resulting in a substantial rise in the global output of high fructose corn syrup.

The key zones in the industry are Europe, North America, Latin America, the Asia Pacific, and the Middle East, and Africa.

Key Industry Players Mentioned in the High Fructose Corn Syrup Industry Report

• Cargill Inc.
• Archer Daniels Midland Co.
• Ingredion Incorporated
• Tate & Lyle PLC
• Roquette Freres

Market Landscape

With a vast number of domestic and international players competing to gain shares in the market, the high fructose corn syrup market is highly aggressive in nature. The leading companies give prominence to mergers, augmentations, acquisitions, and collaborations with other companies, and developing new products as a calculated approach to building up the presence of their brands amongst their consumers.

Key Initiatives by Companies

• In September 2020, Cargill Incorporated, one of the leading companies in the market, introduced its first corn silo in India, which has a storage facility of 60,000 tonnes, guaranteeing a stable supply of superior quality corn and further enlarging its starches and high fructose corn syrup sweetener trade in the Asia Pacific.
• In January 2018, there was a collaboration between Cargill and ARASCO, a Saudi Arabia-based food producer, to begin a corn milling plant in Saudi Arabia. This new facility is projected to double the glucose and starch manufacturing capabilities while augmenting its product line by incorporating high fructose corn syrup.