High Fructose Corn Syrup Market

Global High Fructose Corn Syrup Market
Report by Type, Trends and Forecast to
2025
High fructose corn syrup (HFCS) is a liquid sweetener, used as a replacement of
sucrose (common table sugar), and finds wide application in the food and beverage
industry. High fructose corn syrup is made from corn, which is obtained through wet
milling process. High fructose corn syrup is highly preferred compared to granulated
sugar due to its manufacturing advantages such as cost effectiveness and easy
handling.
United States Food and Drug Administration (USFDA) has viewed HFCS as safe,
dependable and trusted component by the food and beverage industry. However, rise in
consumption of low calorie foods and beverage items is one of the major factors
restraining the growth of the market at present. Moreover, excess consumption of
added sugar in any form, including HFCS, can pose several negative effects on human
health such as obesity, which is another major factor responsible for the slowdown of
the high fructose corn syrup market.
HFCS 42 is the most widely used type with a market share of 42.01% in 2016, and is
expected to lead the market throughout the forecast period followed by HFCS 55. It
signifies that the syrup is made of 42% or 55% fructose, while the remaining sugars
being glucose. According to the United States Department of Agriculture (USDA),
around 90% of HFCS that is produced in the U.S is sold to the beverage industry.
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The beverage industry was the major end user of high fructose corn syrup in 2016 and
is expected to retain market dominance throughout the forecast period. According to
Coherent Market Insights, approximately two-third of the high fructose corn syrup
consumed in the U.S. is in the form of beverages.
North America was the leading region in the global high fructose corn syrup market in
2016, with a revenue of US$ 1.70 billion in the same year, and it expected to retain its
supremacy throughout the forecast period. U.S. was the major contributor to the growth
of this market in North America and is expected to continue its dominance throughout
the forecast period. According to USDA, Economic Research Services, the U.S.
exported more than 1.124 million metric tons (dry weight basis) of HFCS in the third
quarter of 2017, while it exported 1.121 million metric tons (dry weight basis) of HFCS to
all countries in 2016.
Europe was the second-largest market for high fructose corn syrup in 2016 with a
market share of 25.29% in the same. However the share is expected to decrease over
the forecast period, owing to the stringent government regulations. In 2016, the
European Commission announced to reduce the added sugar content across 11
product categories by 10% in 2020. For instance, in 2016, the European Soft Drinks
Industry, announced to reduce added sugars by 10% by 2020. Asia Pacific accounted
for a favorable market share for high fructose corn syrup in 2016. The growth is
attributed to the increase in the intake of sweetened food and beverages. Carbonated
beverages recorded an impressive growth in Asia Pacific. The Coca Cola Company in
China recorded volume consumption of 4.06 million tons in 2017, which marked an
increase by 18% from 2016.
Major players in the global high fructose corn syrup market include Archer Daniels
Midland Company, Cargill Inc., Tate & Lyle Plc, Global Sweeteners Holdings Limited,
Ingredion Incorporated, Showa Sangyo, Japan Corn Starch Co., Ltd., Kerry Group Plc
and COFCO Rongshi Bio-technology Co. Ltd among others
Some of the key strategies adopted by these companies include extensive research and
development activities, tactical mergers and acquisitions, joint ventures and
partnerships and geographical expansions among others. In 2017, Japan Corn Starch
Co. Ltd. successfully developed a new product, “HFCS 70”. This product maintains the
body equal to fructose glucose liquid sugar used in many soft drinks.
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North America was the leading region in the global high fructose corn syrup market in 2016, with a revenue of US$ 1.70 billion in the same year, and it expected to retain its supremacy throughout the forecast period.

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