High Fructose Corn Syrup Market - Forecasts from 2022 to 2027

The High Fructose Corn Syrup (HFCS) Market was valued at US$8,643.933 million in 2020.

It is known as a sweetener that is formed from corn starch. The starch is converted into glucose in the production process by enzymes. The glucose is then processed more to make fructose. It is similar to sucrose which is also known as high-level sugar. HFCS is known for its sweetening applications in the food and beverage industry. In recent years, pharmaceutical companies have also spent a substantial substation sum of capital on the R&D of HFCS-based applications. HFCS is one of the most flexible products on the market. It is used to maintain color and quality and enhance the flavor and taste of various foods and beverage products. It is affordable and is easily available on the market. The average price of HFCS is lower than any other sweetener available on the market, such as glucose. According to the NECG analysis, HFCS costs in soft drinks are half of the sugar sweetener costs. This allows the food and beverage manufacturers to earn more profits or invest more in enhancing the product. Companies and manufacturers are competing against each other to develop and enhance the quality of their products. They are investing significant capital in the innovation, development, and patenting of the product. In 2017, Japan Corn Starch Co., Ltd, one of the major companies for HFCS in the market, announced that they had developed a new product which is known as “HFCS 70,” that ensures the soft drinks maintain the sweetness of fructose and the body will maintain the same composition as that of liquid sugar. The product is registered as a patent.HFCS has become a crucial part of the bakery and beverage segment. It is used to stabilize food and beverage products and increase the longevity of a specific product. It maintains the texture and colour and gives freshness to the consumer's food. Competitive P prices have a significant value in the growth of the market. With the favourable export and import tariffs worldwide positively affect the market.

Subsidies in the United States totalled USD 113.9 billion from 1995 to 2019. Pharmaceutical companies have also made considerable developments. According to the EWG Farm Subsidy Record, from 1995 to 2019, subsidies totalled US$ 113.9 billion in the United States. Companies in pharmaceuticals have also made considerable developments. A French C company named Roquette Freres has made HI-SWEET 55 Corn Syrup used as an oral syrup. HFCS 42 sugar is widely used in the beverage industry, processed foods, confectionery, and dairy industries y. It has a 42% of fructose syrup. When it is refined more and blended with the ion exchange column, HFCS 55 is produced.

Covid-19 Impact

In 2020, COVID-19 had a negative influence on the business. The pandemic has affected the smooth functioning of high-fructose corn syrup around the globe. Because of the pandemic, people prioritized health and well-being, growing consumers changing trends in consuming calories, salt, sugar, and carbohydrates in foods and beverages. As an outcome, manufacturers and retailers have launched low/no sweetener offerings to suit consumer demand, which has had a deleterious impact on the high-fructose corn syrup market globally over the forecasted period

North America holds a significant share of the market.

The United States has a major share in the market. According to the data produced by the USDA, the United States produced around 8.3 million tonnes of HFCS sugar, with a decline of 12% since 1999. The major reason is because of the availability of natural sweeteners and substitutes. The surge in the production of E ethanol has also harmed the production of sweeteners. The corn production has been around 460 to 520 million bushels since 2010. HFCS accounts for 6% of the total production. HFCS 42 holds the major share of the market due to its use in baked, processed, and beverage products. HFCS 55 also holds a decent share because of its use as a sweetener in soft drinks. HFCS 70 is used in the jellies. HFCS 90 is considered a niche segment mainly used with HFCS 42. According to the United States international trade Commission, 73,330 MT of HFCS were exported in 2017, of which 69,955 MT of HFCS-55 and 3,375 MT of HFCS-42 were the breakup.

In 2018, total exports were around 50,570 MT, representing a 12% increase over the previous year. 2018 had registered a better growth as the total exports were around 50,570 MT, a surge of 12% from the previous year. Europe also holds a significant share in the market and is a major producer of corn and sweetener-based products. The total production of corn starch was around 4.42 Millionmillion MT in 2018, with a significant surge in the production from the year 2014, which was 3.89 million MT. The European Starch Industry Association provided the data. The surge in demand has led to the innovation and enhancement of the product by the manufacturers and producers. Governments worldwide provide various incentives and subsidies to support their nation’s growth. A major company in the HFCS industry opened a novel corn starch plant with a total investment of around EUR 80 million in Austria. With the strategic investments, the demand for the product has surged. According to the FAO and OECD data, the production by volume surged from 600,000 tons in 2017 to 675,0000 million tons in 2019 in the European Union. This has led to various brands' investments, collaborations, and acquisitions worldwide. Ingredients Inc. is one of the major players in the market. They will invest around USD 30 million in their invest around USD 30 million into their manufacturing plant in San Juan del Rio, Mexico, to scale up the production of HFCS. The plant manufactures adhesives, glucose starches, and HFCS. The Asia- Pacific region will generate significant growth, with India, China, and Japan being the major players in the region. Japan has a significant share in the market with major HFCS corporations in the country. Coca-Cola beverages contain HFCS and are widely popular in the countries such as India and China. The surge in the consumption of carbonated drinks will positively impact economic growth. According to the USDA, Japan has imposed tariffs on HFCS imports and has scaled up its domestic manufacturing. The price of sugar in Japan has surged, which has led to the demand for HFCS.

According to the USDA, Japan has imposed tariffs on the HFCS Imports and has scaled up its domestic manufacturing. The prices of sugar in Japan have surged, which led to the demand for HFCS.

There are some limitations and challenges in the market.

The overconsumption of fructose has various health effects and implications. It causes obesity, harms blood pressure, and has liver effects. With the consumer's awareness and preferences, natural sugars are becoming a substitute for the HFCS. In 2016, McDonald’s replaced HFCS with table sugar in their burgers and buns. Various companies are using conventional sugar as a replacement for HFCS. There is a difference in taste between the table sugar and HFCS. Some C countries use table sugars in their soft drinks and beverages, which has impacted the corn syrup market. It is also harmful to beekeeping as it releases toxic compounds such as hydroxymethylfurfural when heated at a certain temperature.

Major Developments

March 2022

ADM has introduced PearlEdge, a line of natural-source, white colour products that deliver stable, brilliant, and uniform colours in various food and beverage implementations. Robust quality assurance is critical to creating a precise, premium white shade that does not require modification. ADM achieves this through a vertically-integrated distribution chain that manages each step of the procurement cycle. PearlEdge makes use of patent-pending technology as well as extensive methodology expertise.

July 2021

Cargill is going to invest US$45 million to add soluble fibers to its European holdings of sweeteners, starches, and texturizers as the market for reduced-sugar product offerings grows. At the same time, this is Cargill's first foray into the European soluble fibre market.

July 2020

SWEETENER-VANTAGE Expert Systems has been launched by Tate & Lyle PLC. The System is a collection of innovative and effective sweetener solution tools to facilitate formulators producing sugar-reduced food and beverages using low-calorie sweeteners.

Market Segmentation

By Type

• HFCS 42
• HFCS 55

By Applications

• Food and Beverages
• Pharmaceuticals
• Animal Feed

By Distribution Channel

• Offline
• Online

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Europe
• Germany
• France
• United Kingdom
• Italy
• Middle East and Africa
• UAE
• Turkey
• Israel
• South Africa
• Asia Pacific Region
• China
• India
• Japan
• South Korea
• Indonesia
• Thailand
• Taiwan