Global High Fructose Corn Syrup market, is estimated to be valued at US$ 15.1 Billion in 2021, according to the Global High Fructose Corn Syrup Market Report, by Type (HFCS 42, HFCS 55, HFCS 65 and HFCS 90), By Application (Food Industry, Beverages Industry, Pharmaceutical, Others ), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa), published by Coherent Market Insights.
Global High Fructose Corn Syrup market was valued at US$ 5.1 Billion in 2021. The High Fructose Corn Syrup market is expected to register a CAGR of 4.0% over the forecast period (2022–2030) to reach US$ 7.2 Bn by 2030. Major factors propelling growth of this market include rise in the use of wood in the interior decoration in developed and developing countries. However, government restrictions on the use of hazardous chemicals such as arsenic and chromium and increasing initiatives to reduce deforestation has hindered growth of the High Fructose Corn Syrup market.
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https://www.coherentmarketinsights.com/market-insight/high-fructose-corn-syrup-market-1227
Browse 50 market data tables* and 40 figures* on "Global High Fructose Corn Syrup Market” - Forecast to 2030.
Key Trends and Analysis of the Global High Fructose Corn Syrup Market:
- Based on types, the HFSC 42 segment is anticipated to witness the fastest growth in the global high fructose corn syrup market through forecast period 2022-20230. This is majorly attributed to the increasing demand for HFCS 42 from the food and beverage industry. According to USDA (US Department of Agriculture), in 2022, major HFCS 60 users include 42% of the beverage industry, 22% of the manufacturers of processed food, 14% of the bakery and cereal producers, 12% of the multiple-use food manufacturers, 9% of the dairy industry and 1% of the confectionery industry.
- Among the end-use industries, the beverage industry was the dominant segment in the global high fructose corn syrup market in 2021 and is expected to retain market dominance throughout the forecast period. This can be attributed to increasing consumption of carbonated beverages among the populace.
Key Takeaways of the Global High Fructose Corn Syrup Market:
- North America was the dominant region in the global high fructose corn syrup market in 2021 with a market share of 37.33% in the same year and is expected to maintain its dominance throughout the forecast period. The U.S is the major contributor to growth of this market in North America.
- Europe was the second largest market for high fructose corn syrup in 2021. However, during forecast period, Europe is expected to have a declining market share, owing to the stringent government regulations, regarding limitation on added sugar content in the food and beverage industry. Asia Pacific is projected to record the fastest growth for high fructose corn syrup during the forecast period. This is due to increasing intake of sweetened food and beverage products among the populace.
- Major players operating in the global High Fructose Corn Syrup market include AGRANA Beteilgungs AG, Archer Daniels Midland Company, Cargill Inc., COFCO Rongshi Bio-technology Co. Ltd, Global Sweeteners Holdings Limited, Ingredion Incorporated, Japan Corn Starch Co., Ltd., Kerry Group Plc, Roquette Freres, Showa Sangyo and Tate & Lyle Plc.
- Technology launches, merger & acquisitions, strategic partnership expansion, and research & development activities are key strategies adopted by players in the global High Fructose Corn Syrup market. In May 2022, Cargill, a leader in the global food industry acquired 24.5% of the shares of Salmones Multiexport S.A., the subsidiary of Multiexport Foods S.A. The transaction is subject to certain regulatory approvals and the fulfillment of conditions agreed by the parties. Through this strategic partnership Cargill Inc is increasing its presence in Chile and adjoining areas.
