The global fructose market size is expected to reach USD 6.01 billion by 2027 registering a CAGR of 4.1%, according to a new report by Grand View Research, Inc. The growing demand for low-calorie sweeteners owing to rising consumer awareness regarding the adverse effects of white sugar is likely to augment the industry growth. The global market has been witnessing steady growth with the changing consumer dietary habits and increasing cases of health issues, such as obesity and diabetes.
Furthermore, approval of several food quality control organizations across the world for the addition of fructose in processed foods is likely to have a positive impact on industry growth. Fructose contributes many useful physical and functional characteristics to foods and beverages, including sweetness, flavor enhancement, color, freezing-point depression, osmotic stability, and sometimes it also acts as a humectant. The application of fructose not only improves the texture of foods but also aids in reducing the harmful effects of direct sugar consumption.
Industry participants are targeting small- and medium-scale food processing companies as the demand for local products has witnessed rapid growth over the past few years. These strategies are aiding the companies to gain access to local markets and offer them new growth prospects. The market players are focusing on expanding their presence in India, Thailand, and Indonesia to leverage the growing demand for sweeteners in these economies.
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Fructose Market Report Highlights
• High fructose corn syrup dominated the market in 2019 with a share of 62.01% owing to its versatility, easy usage in application industries, and lower cost as compared to the other caloric sweeteners
• Processed food application is expected to register the fastest growth rate of 5.6% over the forecast period owing to the high demand for processed products, which can be consumed immediately
• North America emerged as the leading regional market in 2019 and accounted for over 44% of the total revenue share on account of high consumer awareness regarding low-calorie foods and the benefits of including sugar substitutes in the daily diet
• The demand for fructose in India is expected to grow at the highest rate owing to the rapid growth of the food and beverage manufacturing sector coupled with the initiatives by the Indian government to reduce the reliance on imports
• The global market is highly fragmented and competitive with the presence of a significant number of large- and medium-sized companies that offer similar products
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