Starch Syrup Market Outlook
According to the report by Expert Market Research (EMR), the global starch syrup market size is projected to grow at a CAGR of 4% between 2024 and 2032. Aided by the thriving food and beverages sector and rapid technological advancements in the food industry, the market is expected to grow significantly by 2032.
Starch syrup, also referred to as glucose or corn syrup, is extracted from the hydrolysis of starch. Principally found in corn, but also in potatoes, wheat, and rice, this syrup is an essential ingredient in numerous food items, encompassing candies, jams, jellies, baked goods, and more. Its appeal lies not just in its sweetening capabilities, but also in its role in enhancing texture, volume, and shelf life. Beyond the culinary realm, starch syrup exhibits versatility in industries like pharmaceuticals, cosmetics, and beverages.
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One of the predominant factors boosting the starch syrup market growth is the global shift towards natural sweeteners. As health concerns related to artificial and refined sugars grow, consumers are increasingly leaning towards naturally derived sweeteners like starch syrups. This transition is notably evident in the beverage industry, where drinks manufacturers are continually seeking alternatives to traditional sugars, thereby amplifying the demand for starch syrups.
Furthermore, the myriad industrial applications of starch syrup substantially invigorate the starch syrup market demand. In pharmaceutical formulations, starch syrup is pivotal for its osmotic balance properties and as a sweetening agent in syrups and tonics. The cosmetics sector, on the other hand, harnesses starch syrup for its humectant properties, ensuring that products like lotions and creams maintain moisture and prevent drying.
The processed foods segment is another massive contributor to the starch syrup market development. As urbanisation progresses and lifestyles become busier, there’s an escalating tilt towards convenience foods. Starch syrup, with its ability to enhance flavour, texture, and longevity, becomes an invaluable asset in the manufacturing of these foods. Be it in sauces, snacks, or desserts, its presence is undeniable.
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Innovative use of starch syrup in the formulation of vegan and vegetarian products is one of the significant starch syrup market trends. As the world witnesses a rise in vegetarianism and veganism, the demand for plant-based and animal-free products soars. Starch syrup has found its niche here, serving as a sweetener in vegan confectioneries, desserts, and baked goods, consequently further expanding its market presence.
Starch Syrup Market Segmentation
The market can be divided based on starch type, type, application, distribution channel, and region.
Market Breakup by Starch Type
- Corn
- Wheat
- Tapioca
- Potato
- Others
Market Breakup by Type
- Low Conversion Glucose Syrup
- Glucose Maltose Syrup
- Maltose Syrup
- High Conversion Glucose Syrup
- Others
Market Breakup by Application
- Bakery
- Beverage
- Bars and Cereals
- Confectionery and Snacks
- Dressings and Sauces
- Dairy
- Pharmaceuticals
- Brewing Industry
- Others
Market Breakup by Distribution Channel
- Supermarkets/Hypermarkets
- Convenience Stores
- Online
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other developments, of the major companies operating in the global starch syrup market. Some of the key players explored in the report by Expert Market Research are as follows:
- Tate & Lyle PLC
- Cargill Inc.
- Tereos Internacional SA.
- Archer Daniels Midland Company
- Tongaat Hulett Starch
- Manildra Group
- Roquette Frères
- Others
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