Global High Fructose Corn Syrup (HFCS) Market: Demand for Cost-effective Sweeteners from End Users to Intensify Market Growth, finds TMR
Use of high fructose corn syrup as an alternative to sucrose is the primary factor driving the growth of the global high fructose corn syrup market, states Transparency Market Research (TMR) in a new research report. The report is titled, “High Fructose Corn Syrup (HFCS) Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.”
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The report presents an in-depth analysis of the growth trajectory of the global high fructose corn syrup market along with the prevalent trends. It assesses the key elements at play in the market and the dynamics that are likely to drive or hinder the growth of the market in the forecast period. The study also presents the estimated volume and revenue growth of the global high fructose corn syrup market.
The report explores the various strategies implemented by key market players along with their shares and description of products, and services. It presents a comprehensive overview of the competitive landscape of the global HFCS market by utilizing Porter’s five forces analysis. It also provides information on the degree of barriers to entry and exit. According to the report, high fructose corn syrup holds a share of approximately 9% in the global market for sweeteners.
The report states that in terms of metabolism and composition, high fructose corn syrup does not vary much from other types of sweeteners of fructose glucose such as fruit juice concentrates, sucrose, and honey. Generally, high fructose corn syrup constitutes fructose levels ranging between 42% and 55%. HFCS exhibits high stability, ensures easy handling and transport, and renders better miscibility as compared to granulated sucrose. As a result of this, its application is significantly high in beverages of acidic nature.
It is expected that fructose will take over glucose as a sweetener in the next couple of years as it is cost-effective and sweeter in comparison to glucose. As a result of these attributes, the demand for high fructose corn syrup is expected to intensify over the forthcoming years. However, as the amount of calories present in fructose is no less than that in sugar, its consumption might decrease among the health conscious consumer base. Moreover, the occurrence of obesity due to excessive consumption of fructose is anticipated to inhibit the growth of the market.
In terms of application, the global HFCS market is categorized into food and beverages and pharmaceuticals. In terms of geography, the market is segmented into Western and Eastern Europe, Middle East and Africa, North America, Japan, Latin America, Japan, and Asia Pacific excluding Japan. Some of the leading companies operating in the market are Tate & Lyle, INGREDION INCORPORATED, Archer Daniels Midland Company, and Cargill Inc.