High fructose corn syrup (HFCS) Market Size, Share, Growth Report 2032

Industry Prospective:

The global high fructose corn syrup (HFCS) market Size was worth around USD 8,920.5 million in 2021 and is estimated to grow to about USD 9754 million by 2028, with a compound annual growth rate (CAGR) of approximately 1.5 percent over the forecast period.

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The report analyzes the high fructose corn syrup (HFCS) market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the high fructose corn syrup (HFCS) market.

High fructose corn syrup (HFCS) Market: Overview

High fructose corn syrup (HFCS) is made by using a process called wet milling of corn. It is regarded as a natural sweetener and is used across the world in multiple food and beverage applications. It contains around 40 to 55 percent of fructose and is similar to many sweeteners.

High fructose corn syrup (HFCS) is majorly used in acidic beverages, as it holds composition very well in these mediums. The competitive pricing of high fructose corn syrup (HFCS) as compared to other sweeteners in this category is what majorly drives the high fructose corn syrup (HFCS) market potential over the forecast period.

However, increasing health and fitness trends are expected to majorly restrain the use of high fructose corn syrup (HFCS) in the long run.

COVID-19 Impact:

The COVID-19 pandemic had a significantly adverse impact on the high fructose corn syrup (HFCS) market. Lockdown restrictions and a rising focus on health were other factors that led to a further slowdown of the high fructose corn syrup (HFCS) market potential in 2020.  

The global pandemic led to disruptions in the proper functioning of high-fructose corn syrup across the world. Due to the pandemic, people are prioritizing health and wellness, which led consumers to cut sugar, calories, salt, and carbs in food and beverages products.

This has resulted in food and beverage manufacturers launching low/no sweetener products to cater the consumer demand, which has negatively impacted the high fructose corn syrup (HFCS) market. The high fructose corn syrup (HFCS) market is expected to rise at a sluggish CAGR over the forecast period and in the post-pandemic era.

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High fructose corn syrup (HFCS) Market: Growth Drivers

Competitive Pricing to Boost Demand for High fructose corn syrup (HFCS)

High fructose corn syrup (HFCS) is priced competitively and this is what majorly boosts its adoption despite other drawbacks. Food and beverage manufacturers adopt the use of high fructose corn syrup (HFCS) in order to cut costs and boost profitability while still being able to claim they used a natural sweetener is what will drive the high fructose corn syrup (HFCS) market potential over the forecast period.

High fructose corn syrup (HFCS) Market: Restraints

Increasing health and fitness awareness to restrain the market growth

High fructose corn syrup (HFCS) is sweet and is not exactly a healthy sweetener in the eyes of multiple consumers and since the focus on health and calorie intake has increased substantially over the past few years this will restrain the high fructose corn syrup (HFCS) market growth over the forecast period.  

High fructose corn syrup (HFCS) Market? Report Scope:

Global High fructose corn syrup (HFCS) Market: Segmentation

The global high fructose corn syrup (HFCS) market is segregated based on type, distribution channel, application, and region.

By Distribution channel, the market is divided into online and offline. The offline sales of high fructose corn syrup (HFCS) are expected to have a dominant outlook over the forecast period owing to the rising preference for these channels among end users.  

By Application, the high fructose corn syrup (HFCS) market is segmented into Food and Beverages, Pharmaceuticals, Animal Feed, and Others. The food & beverages segment will account for a major market share but is expected to lose some share over the forecast period as the popularity of functional and healthy alternatives increases across the world.

Regional Landscape

North America region leads the global high fructose corn syrup (HFCS) market in terms of revenue and volume share. High use of high fructose corn syrup (HFCS) in packaged foods and assorted foods is expected to be the major trend driving growth in the North American region over the forecast period. High fructose corn syrup (HFCS) manufacturers are also expected to see lucrative opportunities from the nation of Japan owing to the rising use of high fructose corn syrup (HFCS) in food and beverages manufactured in these regions. High usage of high fructose corn syrup (HFCS) in confectionery, bakery and soft drink manufacturing is also anticipated to boost market potential in the coming years. Increasing use in the production of processed foods and cereals is also expected to boost demand through 2028.

Competitive Landscape

Some of the main competitors dominating the global high fructose corn syrup (HFCS) market include - 

• Japan Corn Starch Co.
• Archer Daniels Midland Company
• Cargill
• Incorporated
• Tate & Lyle PLC
• Showa Sangyo Co. Ltd.
• Global Sweeteners Holding Limited
• COFCO International
• Kerry Group Plc
• Ingredion Incorporated
• Roquette

The global high fructose corn syrup (HFCS) market is segmented as follows:

By Type

• HFCS 42
• HFCS 55
• Others

By Distribution channel

• Offline
• Online

By Application

• Food and Beverages
• Pharmaceuticals
• Animal Feed
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa