U.S. and China Glucose Market Trends, Analysis & Forecasts 2021-2028 by Form (Syrup, Solid), & Applications (Food & Beverages, Cosmetic & Personal Care, Pharmaceutical) - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "U.S. and China Glucose Market Size, Share & Trends Analysis 2020-2028" report has been added to ResearchAndMarkets.com's offering.
The U.S. and China glucose market size is expected to reach USD 9.44 billion by 2028, expanding at a CAGR of 4.8% from 2020 to 2028.
The demand for glucose (dextrose) in the U.S. and China market is estimated to be driven by the expanding and developing sugar products sector, the growing pharmaceutical sector, and shifting preference towards natural ingredients across cosmetics and personal care products.
In the food and beverages application segment, the bakery and confectionery segment dominated the U.S. and China market with a revenue share of 9.5% in 2020. The rapidly increasing demand for a variety of bakery products, such as biscuits, bread, cakes, pastries, cookies, frostings, crackers, rolls, and doughnuts, is driving the market value of the segment.
Moreover, increasing innovations in bakery items, particularly to meet the changing eating habits of the consumers, are boosting the market growth. Corn syrup is not a direct substitute for sugar but it provides several benefits like it promotes browning and consistency in baking when combined with other sugars and it is not as sweet as sugar.
Confectionery products are gaining growth in the U.S. and China market owing to the increasing number of manufacturers in the local markets. Glucose (dextrose) is an essential ingredient in the development of a wide range of confectionery products, such as candy, sweets, gums, and jellies. The inclination towards organic chocolates and candies in the market is likely to create potential demand over the forecast period.
Additionally, the rising awareness and demand for medicated gummies that provide health benefits are supporting the demand for glucose in the confectionery market. For instance, YUM-V'S Glucose Gummies with fruit flavor is a chewable nutritional supplement for men and women that can increase blood sugar levels and boost energy.
The glucose (dextrose) market in China captured the largest revenue share of 50.9% in 2020. There is a slight difference in the revenue share of the U.S. and China owing to the large customer base in the China market.
The country has a large number of local players such as Guangzhou Shuangqiao Company LTD., Fengchen Group Co. Ltd., Sinofi Ingredients, Henan Fenghe Chemical Co., Ltd., Dancheng Caixin Sugar Industry Co. Ltd., and Xiwang Group, which is supporting its dominating share in terms of both revenue and volume.
The rapidly growing population, coupled with the changing food habits of the consumers, is supporting the market growth.
U.S. And China Glucose Market Report Highlights
- The syrup form segment accounted for the largest revenue share of 69.2% in 2020. This is because of its exceptional properties such as prevention of crystallization and enhancing taste and texture, which has increased its application in bakery, confectionery, and dairy products in the U.S. and China. On the back of this, the syrup segment is projected to maintain its lead from 2020 to 2028
- The food and beverages application segment accounted for the largest revenue share of 54.9% in 2020 owing to the potential demand for glucose across confectionaries, soft drinks, energy drinks, fruit drinks, bakery products, and soups. Rising demand for on-the-go packaged products, along with a growing preference for functional food and beverages, is anticipated to support the glucose (dextrose) market growth from 2020 to 2028
- The China glucose (dextrose) market is expected to register the fastest CAGR from 2020 to 2028. This is supported by the expansion plans of major manufacturers in order to take advantage of available opportunities. The market is gaining pace owing to the increasing investments in research and development (R&D) activities in the F&B sector and the strong presence of local players in the China market. For instance, Guangzhou Shuangqiao Company LTD. has the largest production base of starch sugar in South China and its sales volume has more than 90% share in the starch sugar market of South China. Additionally, the company is making its way for ingredients in the major global brands like Coca-Cola, PepsiCo, China Resources Breweries, Robust, Uni-president, Wahaha, Yili, Want-Want, and Masterkong in Chongqing, Sichuan, Yunnan, and Guizhou
- Major manufacturers are investing in the Chinese glucose (dextrose) industry to increase their production capabilities in order to meet the evolving needs across the food and beverage sector. The country has the largest and most dynamic food market across the globe and serving around 1,445.3 million population. For instance, in 2018, Tate & Lyle PLC has doubled the size of its food application laboratory in Shanghai, particularly to meet growing consumer demand
Market Variables, Trends, and Scope
Market Lineage Outlook
- Parent Market Outlook: Sugar and Sweeteners Market
- Related Market Outlook: Fructose Market
Industry Value Chain Analysis
- Raw Material trends
- Major Raw Material Analysis
- Procurement Best Practices
- Manufacturing Trends
- Technology Trends
- Vendor selection criteria
Market Driver Analysis
- Upsurge in the consumption of food & beverages
- Growing demand for sweeteners in cough medicines
Market Restraint Analysis
- Health risks associated with excessive consumption of sugar
Market Challenge Analysis
- Availability of alternatives
- Ingredion Incorporated
- Agrana Beteiligungs-Ag
- Tate & Lyle
- Cargill, Incorporated
- Roquette Freres
- Grain Processing Corporation
- Guangzhou Shuangqiao Company Ltd.
- Fengchen Group Co., Ltd.
- Sinofi Ingredients
- Henan Fenghe Chemical Co., Ltd.
- Dancheng Caixin Sugar Industry Co. Ltd.
- Xiwang Group
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