Global Fructose Market - 2021-2028
|出版日期||內容資訊||英文 180 Pages
|全球果糖市場:2020∼2027年 Global Fructose Market - 2021-2028|
|出版日期: 2021年07月26日||內容資訊: 英文 180 Pages||
Fructose is a natural sugar found in various vegetables, fruits and honey. It is majorly used in the food and beverages industry. Due to its low-calorie content, fructose is widely used as an artificial sweetener, and it is produced commercially by processing corn or sugar. The demand for fructose is expected to increase during the forecast period with a CAGR of XX%. The global fructose market value is likely to reach USD xx million in 2028, from its recorded value of USD xx million in 2020. The growth is mainly attributed to increasing awareness about healthy nourishment practices worldwide, leading to increasing demand for fructose globally. Fructose is less expensive than sugar and is available in a liquid form at room temperature, making storage and transportation easy.
Market Dynamics: Growing consumption of convenience foods is expected to drive the global fructose market
The consumption of convenience foods has been increasing across the world, especially in developed countries such as the United States. Clean labels and natural ingredients have become top priorities for consumers when it comes to convenience foods. The pressure to decrease the usage of artificial ingredients, as well as strengthened labeling regulations, has placed increased pressure on brands all over the world. In addition, businesses are also investing heavily in promotions and brand recognition campaigns that are expected to drive the market with regards to the rising demand for fat-free, sugar-free, and low-sugar confectionery products. As a result, demand for fructose has been increasing as it is widely used in food products.
Additionally, the growing number of diabetic patients worldwide is opening new opportunities for the vendors operating in the fructose market. The awareness regarding the products made from fructose has increased rapidly in the recent past, owing to social media popularity. According to the International Diabetes Federation (IDF), the prevalence of diabetes in the population is 8.9%. As of 2020, 463 million people have diabetes in the world. This is expected to increase and keep the global fructose market growing during the forecast period.
Factors such as an increase in production costs and fluctuation in raw material prices are expected to remain a key challenge for the market growth. The rise in production costs may have a direct effect on the final product's price. For example, in September 2019, Tate & Lyle announced a price increase of up to 12% on specialty food starches, fibers, specialty and high-intensity sweeteners, and stabilization and functional systems, owing to the rise in manufacturing costs. Furthermore, Cargill, Inc. announced a drop in sales for its starch and sweeteners products in its 2019 annual report, owing to increasing energy and raw material costs in Europe.
Market Segmentation: High Fructose Corn Syrup segment is expected to be the largest segment with a share of XX% during the forecast period.
The fructose market, on the basis of application, is segmented into the high fructose corn syrup, fructose solids and fructose syrup among others. The high fructose corn syrup segment held the largest share as of 2020. The tendency of high-fructose corn syrup (HFCS) to stay in solution and not crystallize like sucrose under certain conditions, is one of the major factors driving the segment growth. Leading market players are focusing on the production of new products by investing heavily in R&D and using advanced technology to produce high-quality and cost-effective products. Furthermore, favorable HFCS import and export tariffs and subsidies for the market's primary ingredient, which is corn, in developed countries such as the United States, have sped up the growth of HFCS production around the world. For instance, according to the EWG Farm Subsidy Record, corn subsidies in the United States totaled USD 113.9 billion from 1995 to 2019. Companies in the pharmaceuticals and nutraceuticals sectors, in addition to food and beverage manufacturers, have shown a strong demand for HFSC. For example, Roquette Freres, a French company, offers HI-SWEET 55 High Fructose Corn Syrup, which can be used in oral dosage forms such as syrups, suspensions, and liquids for pharmaceutical and nutraceuticals.
Geographical Penetration: North America is expected to dominate the global fructose market
The North America region accounted for the largest share of the regional fructose market. The United States dominated the North American fructose market with a share of XX% in the year 2020. In the United States, fructose consumption in foods and beverages is projected to rise in tandem with increasing demand for processed foods and beverages. Furthermore, HFCS exports from American producers have steadily increased since the early twenty-first century. According to the US International Trade Commission, the US exported 73,330 MT (dry weight) of HFCS in 2017, including 3,375 MT of HFCS-42 and 69,955 MT of HFCS-55 bringing the total value of HFCS exports to 1.046 MMT in 2018. This increase in 2018 is the result of monthly HFCS-42 shipments were stronger in 2017 than in 2018, and total exports of 50,570 MT were up 12 percent from 2017. Thus, an increase in international trading of HFCS has further propelled the growth of the fructose market within the country.
The global fructose market is highly fragmented due to the dominance of several local and global players present in the market. The market exhibits a strong presence of global key players, such as THE ARCHER-DANIELS-MIDLAND COMPANY, Cargill Inc., Ingredion Incorporated, Tate & Lyle Plc, and Galam, among others. Players in this market are following various strategies to occupy a significant position in the market. For instance, in July 2020, Cargill Inc., added new sweetener portfolio C TruSweet 01795 to enable a 30% sugar and calorie reduction in beverages and other food applications via lower usage levels. Cargill's C TruSweet® 01795 is a 95% pure fructose syrup that is characterized by a naturally higher relative sweetness than sucrose. In April 2020, Ingredion EMEA has launched its first polyol sweetener, ERYSTA Erythritol. The sweetener enables manufacturers to reduce or replace sugar to achieve nutrition-related claims, such as 'no added sugar' or 'calorie-reduced', in multiple applications.
COVID-19 Impact: Negative impact on the market due to decrease in consumption of high sugar products
The uncertain pandemic circumstances that occurred around the world have had a significant effect on the global fructose market. COVID-19 has had an effect on the finished product supply chain as well as the raw material ingredients. The North American region, followed by the Asia Pacific and Europe region, plays a vital role in the fructose market due to the concentration of several key players operating from these regions. As a result, the market is expected to face supply constraints, as fructose manufactured by many main players in these regions is sold to end-users all over the world. Moreover, new research by Swansea scientists in collaboration with researchers at the University of Bristol and the Francis Crick Institute in London has indicated that consuming a diet high in sugar fructose might prevent the proper functioning of peoples' immune systems. The new study published in the journal Nature Communications shows that fructose causes the immune system to become inflamed and that process produces more reactive molecules which are associated with inflammation.