Global High Fructose Corn Syrup Market Size, Share, Opportunities, And Trends By Type (HFCS 42, HFCS 55, Others), By Applications (Food And Beverages, Pharmaceuticals, Animal Feed, Others), By Distribution Channel (Offline, Online), And By Geography- Forecast From 2025 To 2030

The high fructose corn syrup (HFCS) market is estimated at US$9,558.273 million by 2025, growing at a CAGR of  5.07% to reach US$10,240.689 million by 2030.

It is known as a sweetener formed from corn starch. The starch is converted into glucose during the production process using enzymes. The glucose is then further processed to make fructose. It is similar to sucrose, which is also known as table sugar. High fructose corn syrup (HFCS) is recognized for its sweetening applications in the food and beverage industry. In recent years, pharmaceutical companies have also invested a substantial amount of capital in the research and development of HFCS-based applications.

HFCS is one of the most versatile products on the market. It is used to maintain color and quality while enhancing the flavor and taste of various food and beverage products. It is affordable and readily available. The average price of HFCS is lower than that of other sweeteners, such as glucose. According to NECG analysis, the cost of HFCS in soft drinks is half that of sugar sweeteners. This allows food and beverage manufacturers to increase profits or invest more in product enhancement. Companies are competing against each other to develop and improve the quality of their products, investing significant capital in innovation, development, and patenting.

In 2017, Japan Corn Starch Co., Ltd., one of the major players in the HFCS market, announced that it had developed a new product known as “HFCS 70,” which ensures that soft drinks maintain the sweetness of fructose while preserving the same composition as liquid sugar. The product is registered as a patent. HFCS has become a crucial component of the bakery and beverage segments, used to stabilize food and beverage products and increase their longevity. It maintains texture and color while providing freshness to consumers' food. Competitive pricing plays a significant role in the growth of the market, with favorable export and import tariffs worldwide positively affecting market dynamics.

According to the World Integrated Trade Solution (WITS), the top importers of other fructose and fructose syrup-containing in 2023 were Mexico import had 482,562,000 Kg, the United States imported 108,003,000 Kg, Canada imported 92,768,800 Kg, followed by the European Union with 23,292,900 Kg, and Germany had 28,196,500 Kg.

What are the drivers of the high fructose corn syrup (HFCS) market?

•  Demand for sweeteners in the food and beverage industry

The growing food and beverages industry worldwide has generated demand for high fructose corn syrup (HFCS). The most common forms of HFCS contain either 42 percent or 55 percent fructose. These are referred to in the industry as HFCS 42 and HFCS 55. HFCS 42 is mainly used in processed foods, cereals, baked goods, and some beverages. HFCS 55 is used primarily in soft drinks. The growth of the food and beverages industry globally has created increased application of sweeteners including HFCS.

• The high fructose corn syrup market is segmented into five regions worldwide:

By geography, the high fructose corn syrup market is segmented into North America, South America, Europe, the Middle East and Africa, and Asia Pacific. Major economies such as China, Japan, India, and South Korea dominate the Asia-Pacific region. Some of the fastest-growing emerging economies in this region include the ASEAN countries.

The Asia Pacific region is expected to see notable growth, propelled by expansion in the food and beverage sector. According to the India Brand Equity Foundation (IBEF), India is the most populous country in the world. The growing consumption of food is projected to reach USD 1.2 trillion by 2025-26, driven by urbanization and changing consumption patterns. The market size of the food processing sector in India is estimated to reach USD 1,274 billion by 2027. China is also witnessing strong growth in its food processing industry, with the value of food production growing by 2.9 percent in 2023. The demand for food ingredients in China will remain strong due to the processing industry.

North America holds a significant share of the market. According to data from the USDA, the import forecast for MY 2022/23 is 876,000 metric tons for Mexico, which is expected to climb to 900,000 metric tons in MY 2023/24. As of February 2024, Mexico imported 379,724 metric tons of dry weight HFCS, which is 10 percent higher than in MY 2022/23. Factors driving HFCS demand include increased domestic sugar prices and the soluble nature of HFCS in the country.

High fructose corn syrup (HFCS) market challenges:

• 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. 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 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.

Key developments in the High fructose corn syrup (HFCS) market:

The market leaders for the High Fructose Corn Syrup Market are Japan Corn Starch Co. Ltd, Archer Daniels Midland Company, Cargill, Incorporated, Tate & Lyle PLC, Sinofi Ingredient, Showa Sangyo Co, Ltd, COFCO, and Ingredion Incorporated among others. The key players in the market implement growth strategies such as product launches, mergers, acquisitions, etc. to gain a competitive advantage over their competitors. For Instance,

• In August 2023, Mintec would launch new weekly Mintec Benchmark Prices for high fructose corn syrup (42% and 55% dextrose equivalent) as well as dextrose (liquid and dry). The launch date would be August 30th, 2023.
• In March 2022, ADM introduced PearlEdge, a line of natural-source, white colour products that deliver stable, brilliant, and uniform colors 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.

The high fructose corn syrup (HFCS) market  is segmented and analyzed as below:

• By Type
  • HFCS 42
  • HFCS 55
  • Others
• By Application
  • Food and Beverages
  • Pharmaceuticals
  • Animal Feed
  • Others
• By Distribution Channel
  • Offline
  • Online
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Rest of the Middle East and Africa
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Rest of Asia-Pacific

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base and Forecast Years Timeline

1.8. Key benefits for the stakeholders

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Research Process

3. EXECUTIVE SUMMARY

3.1. Key Findings

3.2. Analyst View

4. MARKET DYNAMICS

4.1. Market Drivers

4.1.1.  Demand for sweeteners in the food and beverage industry

4.1.2. Growing demand for pharmaceuticals

4.2. Market Restraints

4.2.1. Health concerns 

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. The Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. HIGH FRUCTOSE CORN SYRUP (HFCS) MARKET BY TYPE 

5.1. Introduction

5.2. HFCS 42

5.3. HFCS 55

5.4. Others

6. HIGH FRUCTOSE CORN SYRUP (HFCS) MARKET BY APPLICATION 

6.1. Introduction

6.2. Food And Beverages

6.3. Pharmaceuticals

6.4. Animal Feed

6.5. Others

7. HIGH FRUCTOSE CORN SYRUP (HFCS) MARKET BY DISTRIBUTION CHANNEL 

7.1. Introduction

7.2. Offline

7.3. Online

8. HIGH FRUCTOSE CORN SYRUP (HFCS) MARKET BY GEOGRAPHY

8.1. Global Overview

8.2. North America

8.2.1. United States

8.2.2. Canada

8.2.3. Mexico

8.3. South America

8.3.1. Brazil

8.3.2. Argentina

8.3.3. Rest of South America

8.4. Europe

8.4.1. United Kingdom

8.4.2. Germany

8.4.3. France

8.4.4. Italy

8.4.5. Spain

8.4.6. Rest of Europe

8.5. Middle East and Africa

8.5.1. Saudi Arabia

8.5.2. United Arab Emirates

8.5.3. Rest of Middle East and Africa

8.6. Asia-Pacific

8.6.1. China

8.6.2. India

8.6.3. Japan

8.6.4. South Korea

8.6.5. Taiwan

8.6.6. Thailand

8.6.7. Indonesia

8.6.8. Rest of Asia-Pacific

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

9.1. Major Players and Strategy Analysis

9.2. Market Share Analysis

9.3. Mergers, Acquisitions, Agreements, and Collaborations

9.4. Competitive Dashboard

10. COMPANY PROFILES

10.1. Japan Corn Starch Co. Ltd.

10.2. Archer Daniels Midland Company

10.3. Cargill, Incorporated

10.4. Tate & Lyle PLC

10.5. Showa Sangyo Co, Ltd.

10.6. COFCO

10.7. Ingredion Incorporated

10.8. Roquette

10.9. Sinofi Ingredient

Japan Corn Starch Co. Ltd.

Archer Daniels Midland Company

Cargill, Incorporated

Tate & Lyle PLC

Showa Sangyo Co, Ltd.

COFCO

Ingredion Incorporated

Roquette

Sinofi Ingredient