Newark, NJ, June 25, 2021 (GLOBE NEWSWIRE) — As per the report published by Fior Markets, the global fructose market is expected to grow from USD 5.45 billion in 2020 to USD 7.34 billion by 2028, at a CAGR of 3.79% during the forecast period 2021-2028.
Certain factors are boosting the growth of the global fructose market. Some of them include the high demand for chocolate milk, energy drinks, & carbonated beverages, rising demand for sweeteners from food & beverages industries, growing concern about artificial sweeteners, and the rising demand as a humectant in the improving sector for the production of bathing & cleansing products. Further, the low glycemic index in fructose is one of the main driving forces in the global fructose market. Additionally, there has been a notable rise in the demand for healthy processed food with low calories that impetus the market’s growth. However, changing food habits of the global denizens are impacting the growth of the worldwide food & drinks business. This is also building a massive range for the fructose market as it is extensively used in some of the everyday food items available in the market.
The food and refreshments industry utilizes refined fructose procured from corn syrup in their products, while fructose is naturally present in plants, fruits, honey and vegetables. The most explicit form of fructose is obtained with the help of sugar or corn processing, and it is widely used in the food & beverages industry. Several types of fructose are obtainable in the market. One is the precise form of fructose, popularly named crystalline fructose, and another form is a blend of glucose & fructose and auctioned as high fructose corn syrup. Fructose is primarily utilized in the refreshment, food, and store industry to improve a product’s quality, taste, and texture.
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The global fructose market is expected to witness significant growth due to the growing demand for healthy food during the forecast period. Rising stringent regulations for fructose & its by-products, increasing demand for sugar-free products are predicted to hamper the growth in the global fructose market. Furthermore, according to the research, it is predicted that high fructose corn syrup can raise the risk for weight gain, cholesterol level, diabetes, mental stress, high blood pressure, and fatty liver. So, the customers could shift towards potential alternatives like coconut milk, raw honey, and stevia. Therefore, product substitutes like this are expected to hinder the fructose growth of the market. The growing technological innovation in the food processing sector and the escalating demand for nutritional snack bars are the opportunities for market growth.
Key players operating in the fructose market include are Cargill Corporation, DuPont de Nemours, Inc., Archer Daniels Midland Company, Shijazhuang Huaxu Pharmaceuticals Co. Ltd., Galam Ltd., Atlantic Chemicals Trading GmbH, Dulcette Technologies LLC (Viachem, Inc.), NOW Health Group, Inc., Tate & Lyle PLC, Ingredion, Incorporated, and Bell Chem Corp. To gain a significant market share in the global fructose market, the key players are now focusing on adopting product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships. Archer Daniels Midland Company and Tate & Lyle are vital manufacturers operating in the fructose market.
- For instance, in September 2016, Tate & Lyle began its KRYSTAR Crystalline Fructose in the South East Asian country. The company also increased its CLARIA Functional Clean Label Starches line by adding CLARIA Delight in the country. KRYSTAR Crystalline Fructose has a wide range of applications in the food & refreshment business.
- For Example, in December 2016, Archer Daniels Midland Company expanded its overall grind & finishing capacity. The expansion involves the rising ability for starches and sweeteners at the company’s corn wet mill facilities in Bulgaria & Turkey. The growth prompted the company to fulfil the growing demand for sweetener regionally and globally.
- For instance, in July 2020, Ingredion acquired PureCircle Ltd, the world’s foremost innovator & producer of plant-based stevia sweeteners. The addition assisted the company in bringing global change and production expertise and enabled Ingredion to utilize its global go-to-market model, broad component portfolio and formulation capabilities.
The beverages segment dominated the market and held the largest market share of 28.15% in 2020.
Based on application, the global fructose market is segmented into bakery & cereals, dairy products, processed foods, confectionery, and beverages. The beverages segment dominated the market and held the largest market share of 28.15% in 2020. This growth is attributed to the accelerating demand for energy drinks, raising awareness about natural ingredients, and growing artificial sweeteners in the production of beverages.
The high fructose corn syrup segment dominated the market and held the largest market share of 38.19% in 2020.
The global fructose market is segmented into fructose solids, high fructose corn syrup, and fructose syrups based on product. The high fructose corn syrup segment dominated the market and held the largest market share of 38.19% in 2020. This growth is attributed to the product’s expanding high adoption amongst consumers because of its capacity to improve flavor, quality, texture, and color to numerous syrups, foods, and drinks.
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Regional Segment Analysis of the Fructose Market
- North America (U.S, Canada, Mexico)
- Europe (Germany, France, U.K, Italy, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- Latin America (Brazil, Argentina)
- The Middle East and Africa (South Africa, UAE, Saudi Arabia and the Rest of MEA)
Based on geography, the fructose market has been classified into North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa. North America region held the largest market share of 29.17% in the year 2020. This growth is attributed to the increasing popularity of food and refreshment like juices, sports drinks, diet coke, and other drinks. Further, rising demand for healthy snack products, a growing population, increasing consumer awareness about low-calorie diets, and massive reliance on processed food due to busy lifestyles. The market is flooded with medium, small, and prominent players amid robust supply chain networks that also promoted the region’s market growth prospects. On the other hand, the Asia-Pacific region is witnessing significant growth due to China and India’s rapidly expanding beverage industry. Further, the increasing population coupled with a shift in customer lifestyle, which demands food products like chocolates, packaged juices, and candies, is expected to propel market growth.
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About the report:
The global fructose market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each piece. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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