Glucose Global Market Report 2024: Trending Dynamics, Forecasts, and Market Impact Analysis
Glucose Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
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How Has The Glucose Market Size Evolved and What Is Its Forecasted Growth?
The glucose market size has exhibited robust growth in recent years. It is projected to expand from $51.55 billion in 2023 to $54.94 billion in 2024, at a compound annual growth rate CAGR of 6.6%. The market growth in the historic period is mainly attributable to an increased prevalence of diabetes, aging population, changes in lifestyles and dietary habits, government initiatives, and improved healthcare infrastructure.
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What Is The Glucose Market Growth Forecast?
The glucose market size is anticipated to witness substantial growth in the upcoming years. It is expected to reach $70.25 billion by 2028, growing at a CAGR of 6.3%. The projected growth during the forecast period can be attributed to a surge in demand for bakery products, growing cosmetics and personal care products, increasing demand for processed food products, a rise in disposable income, and urbanization. Significant trends anticipated during the forecast period include personalized glucose management, remote glucose monitoring solutions, artificial intelligence and data analytics, non-invasive glucose monitoring, and lifestyle and nutrition interventions.
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What Is Driving The Growth Of The Glucose Market?
Surge in demand from the bakery and confectionery sector is expected to fuel the glucose market going forward. Confectionery is a term used to denote sweets or chocolates with high sugar and carbohydrate content. Bakers' confections and sugar confections are the common varieties of confectionery. Glucose, being a flavor enhancer for candies and other foods, is utilized in the creation of bakery and confectionery products. For instance, in December 2022, the Netherlands-based government organization, Center for the Promotion of Imports from developing countries, reported that global cocoa bean grinding activities amounted to approximately 4,973 thousand tons in the 2020–2021 cocoa year, marking a 5.7% increase over 2019–2020. Therefore, the growing demand from the bakery and confectionery sector has been steering the growth of the glucose market.
Who Are The Key Players In The Glucose Market?
Major players operating in the glucose market include Archer Daniels Midland Company, Ingredion Inc., AGRANA Beteiligungs-AG, Tate & Lyle Plc, Cargill Inc., Roquette Frères SA, Grain Processing Corp, Tereos Internacional SA, Gulshan Polyols Ltd., Global Sweeteners Holdings Ltd., Avebe Group, Luzhou Ruixiang Food Co Ltd., Capital Glucose Company Ltd., Hebei Yunhao Technology Co Ltd., Luzhou Bio-Chem Technology Shandong Co Ltd., Fooding Group Ltd., HL Agro Products Private Ltd., Bakers Kitchen, Beneo Asia-Pacific Pte Ltd., DGF Service Ltd., Global Market Insights Inc., Bannari Amman Sugars Ltd., Anhui Wincom Chemical Co Ltd., Malt Products Corporation, Zhangqiu Isen-Granule Manufacturing Science and Technology Co Ltd., Henan Feitian Agricultural Development Stock Co Ltd., Shandong Tianli Pharmaceutical Co Ltd., Gujarat Ambuja Exports Ltd., Sayaji Industries Ltd., Huletts Corporation Ltd.
Which Are The Emerging Trends In The Glucose Market?
A key trend gaining momentum in the glucose market is the introduction of low-sugar glucose syrups. Major players in the glucose market are focused on introducing these innovative products to cater to consumer demand and strengthen their market position. For instance, in June 2021, General Mills Inc., a US-based food processing company, launched Good Measure, a brand of snacks aimed at stabilizing blood sugar levels. This range includes three different variants: Blueberry & Almond, Peanut & Dark Chocolate, and Almond & Dark Chocolate.
How Is The Glucose Market Segmented?
The glucose market covered in this report is segmented as follows –
1 By Form: Syrup, Solid
2 By Source: Wheat, Corn, Other Sources
3 By Application: Food and Beverage, Pharmaceutical, Cosmetics, Personal Care, Pulp and Paper, Other Applications
How Is The Glucose Market Distributed Across Various Regions?
North America emerged as the largest region in the glucose market in 2023. Meanwhile, Asia-Pacific is anticipated to be the fastest-growing region in the forecast period. The report covers all regions, including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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