By Region, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World. The Asia-Pacific Isoglucose market accounted for USD 5.90 billion in 2022 and is expected to exhibit a 2.16% CAGR during the study period. Asia Pacific is expected to be the fastest-growing regional market from 2022 to 2030 due to the rapidly expanding beverage industry in China and India. Additionally, the demand for food products including bottled drinks, candies, and chocolates is projected to increase because of the changing consumer lifestyle and the growing population.
The region's processed food producers are moving away from more expensive sweeteners and towards more practical ones, such high fructose corn syrup. More soft drinks and other beverages now contain HFCS due to its wide availability and superior diffusibility when compared to granulated sugars. Thus, these factors are expected to boost the growth of the regional high fructose corn syrup market.
Further, the major countries studied are: The U.S, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, Australia & New Zealand, and Brazil.
Figure 3: ISOGLUCOSE MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review
North America Isoglucose market accounts for the second-largest market share in 2022. The demand for high-fructose corn syrup (HFCS) sweetener has dramatically expanded across the country because of its widespread use in the bakery, beverage, confectionery, and beverage industries, especially in the creation of soft drinks. To satisfy domestic demand, the nation has boosted its purchase of HFCS from foreign countries. To convince the public that HFCS is safe, manufacturers have undertaken a successful marketing effort with the help of the Corn Refiners Association.
The Food and Drug Administration also classified HFCS as "generally recognized as safe." The most widely used HFCS types in the country include HFCS 42, which is used in beverages, processed foods, cereals, and baked goods; HFCS 55 and HFCS 65, which are used in soft drinks; and HFCS 70, which is used to fill jellies. As a result, the growth of the HFCS market domestically has been further fueled by the rise in HFCS worldwide trade. Further, the U.S. Isoglucose market held the largest market share, and Mexico Isoglucose market was the fastest-growing market in the North America region.
The Europe Isoglucose Market is expected to grow at a CAGR of 2.24% from 2023 to 2030. Europe is projected to witness a significant amount of growth in the upcoming years. Due to the scarcity and rising cost of normal sugar, companies are switching to high fructose corn syrup as a sweetener. Hence, the above factors are expected to drive the growth of the high fructose corn syrup market in the future. In Europe, FDA defines "natural" as free of synthetic, artificial, and color additives and is typical food and drink ingredient.
HFCS is simple to flavor, easily dissolved in water, and imparts a fruity flavor to food and beverages. Moreover, U.K. Isoglucose market held the largest market share, and the France Isoglucose market was the fastest-growing market in the Asia-Pacific region.