Market Size of Glucose (Dextrose) Industry
Study Period | 2019 - 2029 |
Market Size (2024) | USD 0.90 Billion |
Market Size (2029) | USD 1.09 Billion |
CAGR (2024 - 2029) | 3.66 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Glucose Market Analysis
The Glucose Market size is estimated at USD 0.9 billion in 2024, and is expected to reach USD 1.09 billion by 2029, growing at a CAGR of 3.66% during the forecast period (2024-2029).
Dextrose is often used as a sweetener in baking products. It can be commonly found in processed foods like bakery, dairy products, confectionery, etc., as it tastes 60-70% like sucrose. Dextrose is also used in confectionery applications to bring out their (fruity) flavors, provide a light cooling effect, and balance their sweetness. Some of its other application areas include beverages, ice cream, culinary and meat curing, and pharmaceuticals. In milk-based drinks (chocolate or other flavors), dextrose is widely used to control the overall sweetness in combination with other sugars.
Dextrose is very useful in soft-scoopable ice cream, ice lollies, water ices, and other frozen desserts where a clear, moderate sweetness is sought. Dextrose can enhance ice cream's palatability and favorable melt-down properties. The scoopable ice cream at - 18 °C benefits from glucose's ability to lower the freezing point. According to the US Department of Agriculture, in 2021, an average person consumed about 21.9 pounds of frozen dairy across the United States.
Changes in food habits and an inclination toward snacks and desserts, in which dextrose is used as an effective sweetening agent, are driving the use of dextrose in the food and beverage segment. The market is driven by increasing demand for convenience foods with the versatile application of sweeteners with additional health benefits in several industry segments, such as confectionery, bakery, and dairy products. The market faces challenges in terms of fluctuating prices of raw materials, primarily corn, with issues in the supply chain and rapid changes in the global economy. Sugar giants worldwide view wheat and cook starch as sustainable options to produce high-quality glucose syrups that can be used in baked goods, beverages, and ice creams. There has been a growing trend for a clean-label solution, which offers great potential for glucose (dextrose) manufacturers. Companies are upgrading their portfolio with product innovation supported by technological advancements.
Glucose Industry Segmentation
Glucose (dextrose) is a kind of sugar derived from natural sources like wheat, corn, and other sources.
The glucose (dextrose) market is segmented by source, application, and geography. Based on source, the market is segmented by wheat, corn, and other sources. By application, the market is segmented into food and beverage, pharmaceutical, and other applications. The food and beverage segment of the market is further segmented into bakery and confectionery, snacks and cereals, beverages, and dairy products. The study also covers the global level analysis of the major regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. For each segment, the market sizing and forecasts have been done on the basis of value in (USD million).
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Glucose (Dextrose) Market Size Summary
The glucose market, particularly focusing on dextrose, is poised for steady growth over the forecast period, driven by its extensive application across various sectors such as food, beverages, and pharmaceuticals. Dextrose, known for its sweetening properties, is widely used in baking, dairy products, and confectionery, offering a taste profile similar to sucrose. Its versatility extends to enhancing flavors and sweetness balance in beverages, ice creams, and even pharmaceuticals. The increasing consumer preference for convenience foods and snacks, coupled with the demand for clean-label solutions, is propelling the market forward. However, the industry faces challenges like fluctuating raw material prices and supply chain issues, which are influenced by global economic conditions. The market's competitive landscape is characterized by major players like Cargill, Archer Daniels Midland Company, and Tereos SA, who are investing in product innovation and technological advancements to maintain their market positions.
Regionally, the Asia-Pacific area is expected to experience the fastest growth in the dextrose market, driven by the rising demand for low-calorie foods and the availability of corn and wheat starch. The region's burgeoning convenience food and pharmaceutical industries are contributing to the increased consumption of dextrose products. In particular, countries like China, Australia, Japan, and India are witnessing a surge in demand for energy drinks containing dextrose, which is valued for its quick energy release properties. The dairy industry in the region also plays a significant role in market expansion, with dextrose enhancing the texture and shelf life of dairy products. The competitive dynamics of the market are further intensified by continuous product innovations and strategic expansions by key players, ensuring a robust and evolving market landscape.
Glucose (Dextrose) Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Industry Attractiveness - Porter's Five ForceS Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Source
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2.1.1 Wheat
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2.1.2 Corn
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2.1.3 Other Sources
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2.2 Type
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2.2.1 Food and Beverage
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2.2.1.1 Bakery and Confectionery
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2.2.1.2 Snacks and Cereals
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2.2.1.3 Beverages
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2.2.1.4 Dairy Products
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2.2.2 Pharmaceuticals
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2.2.3 Other Applications
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.1.4 Rest of North America
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2.3.2 Europe
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2.3.2.1 Spain
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2.3.2.2 United Kingdom
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2.3.2.3 Germany
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2.3.2.4 France
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2.3.2.5 Italy
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2.3.2.6 Russia
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2.3.2.7 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 Rest of Asia-Pacific
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle East and Africa
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2.3.5.1 South Africa
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2.3.5.2 United Arab Emirates
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2.3.5.3 Rest of Middle East and Africa
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Glucose (Dextrose) Market Size FAQs
How big is the Glucose (Dextrose) Market?
The Glucose (Dextrose) Market size is expected to reach USD 0.90 billion in 2024 and grow at a CAGR of 3.66% to reach USD 1.09 billion by 2029.
What is the current Glucose (Dextrose) Market size?
In 2024, the Glucose (Dextrose) Market size is expected to reach USD 0.90 billion.