Glucose Market

The article provides a detailed analysis of the global glucose market from 2022 to 2030, including projections on consumption, production, imports, and exports. Key points include trends in market volume and value, top consuming and producing countries, import and export dynamics, and average prices. The data highlights shifts in consumption patterns, with North Macedonia showing significant growth, while other countries experiencing more modest changes. The article offers insights into the global glucose market for businesses and researchers looking to understand the industry trends and opportunities.

Market Forecast

The glucose market is expected to start a downward consumption trend over the next eight years. The performance of the market is forecast to decrease slightly, with an anticipated CAGR of -0.2% for the eight-year period from 2022 to 2030, which is projected to depress the market volume to 38M tons by the end of 2030.

In value terms, the market is forecast to contract with an anticipated CAGR of +2.5% for the period from 2022 to 2030, which is projected to bring the market value to $34.1B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Glucose And Glucose Syrup

In 2022, approx. 38M tons of glucose and glucose syrup were consumed worldwide; jumping by 18% against the year before. Overall, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak volume and is likely to continue growth in the immediate term.

The global glucose market value stood at $28B in 2022, with an increase of 14% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, showed a mild setback. Over the period under review, the global market hit record highs at $31.6B in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (7.2M tons), North Macedonia (5.5M tons) and the United States (4.4M tons), together comprising 44% of global consumption.

From 2012 to 2022, the biggest increases were recorded for North Macedonia (with a CAGR of +74.8%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Japan ($5.4B), China ($4.3B) and North Macedonia ($2.8B) appeared to be the countries with the highest levels of market value in 2022, with a combined 45% share of the global market.

In terms of the main consuming countries, North Macedonia, with a CAGR of +74.2%, saw the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of glucose per capita consumption was registered in North Macedonia (2,633 kg per person), followed by Belgium (65 kg per person), Canada (16 kg per person) and the United States (13 kg per person), while the world average per capita consumption of glucose was estimated at 4.9 kg per person.

In North Macedonia, glucose per capita consumption expanded at an average annual rate of +74.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Belgium (-1.9% per year) and Canada (-3.2% per year).

Production

World Production of Glucose And Glucose Syrup

In 2022, global production of glucose and glucose syrup rose slightly to 33M tons, surging by 2.1% compared with the year before. Overall, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the production volume increased by 3.9% against the previous year. Global production peaked at 35M tons in 2017; however, from 2018 to 2022, production failed to regain momentum.

In value terms, glucose production rose modestly to $22.4B in 2022 estimated in export price. In general, production, however, continues to indicate a noticeable decrease. The growth pace was the most rapid in 2021 when the production volume increased by 12% against the previous year. Over the period under review, global production hit record highs at $29.5B in 2012; however, from 2013 to 2022, production failed to regain momentum.

Production By Country

The countries with the highest volumes of production in 2022 were China (8.1M tons), the United States (4.6M tons) and India (3M tons), together accounting for 48% of global production. Pakistan, Japan, Russia, France, Brazil, Canada, Egypt, Mexico and Iran lagged somewhat behind, together accounting for a further 27%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by Egypt (with a CAGR of +2.1%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Glucose And Glucose Syrup

In 2022, supplies from abroad of glucose and glucose syrup increased by 113% to 12M tons, rising for the second consecutive year after three years of decline. Over the period under review, imports continue to indicate a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, glucose imports skyrocketed to $3.8B in 2022. Overall, total imports indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +63.1% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports By Country

North Macedonia prevails in imports structure, amounting to 5.8M tons, which was near 50% of total imports in 2022. It was distantly followed by Germany (767K tons), constituting a 6.6% share of total imports. The following importers - the Netherlands (437K tons), Belgium (416K tons), the United States (358K tons), Mexico (354K tons), France (239K tons), the UK (238K tons), the Philippines (210K tons) and Poland (179K tons) - together made up 21% of total imports.

North Macedonia was also the fastest-growing in terms of the glucose and glucose syrup imports, with a CAGR of +104.6% from 2012 to 2022. At the same time, the Philippines (+7.3%), the United States (+5.2%) and the Netherlands (+1.1%) displayed positive paces of growth. Germany and Mexico experienced a relatively flat trend pattern. By contrast, Belgium (-2.5%), France (-2.5%), Poland (-2.9%) and the UK (-4.4%) illustrated a downward trend over the same period. While the share of North Macedonia (+50 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of Poland (-3.1 p.p.), the Netherlands (-3.8 p.p.), France (-3.9 p.p.), Mexico (-4.1 p.p.), the UK (-5.1 p.p.), Belgium (-6.8 p.p.) and Germany (-7.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($467M), the United States ($283M) and Mexico ($250M) constituted the countries with the highest levels of imports in 2022, together accounting for 27% of global imports. The Netherlands, Belgium, the UK, France, the Philippines, Poland and North Macedonia lagged somewhat behind, together accounting for a further 26%.

The Philippines, with a CAGR of +9.5%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average glucose import price stood at $325 per ton in 2022, dropping by -37.7% against the previous year. In general, the import price continues to indicate a deep downturn. The pace of growth was the most pronounced in 2021 an increase of 7.6% against the previous year. Over the period under review, average import prices hit record highs at $606 per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($792 per ton), while North Macedonia ($0.6 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+4.0%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Glucose And Glucose Syrup

In 2022, global exports of glucose and glucose syrup soared to 5.8M tons, with an increase of 21% compared with 2021. Over the period under review, total exports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +65.8% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 37%. The global exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, glucose exports soared to $3.1B in 2022. Overall, exports continue to indicate a prominent expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 54% against the previous year. The global exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports By Country

In 2022, France (1.3M tons), distantly followed by China (834K tons), the United States (564K tons), North Macedonia (386K tons) and Hungary (334K tons) were the main exporters of glucose and glucose syrup, together mixing up 59% of total exports. The following exporters - the Netherlands (251K tons), Germany (225K tons), India (201K tons), Italy (188K tons), Canada (174K tons), Turkey (151K tons), Austria (129K tons) and Bulgaria (126K tons) - together made up 25% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by North Macedonia (with a CAGR of +129.1%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest glucose supplying countries worldwide were France ($567M), China ($533M) and the United States ($361M), with a combined 47% share of global exports.

In terms of the main exporting countries, France, with a CAGR of +20.5%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average glucose export price stood at $534 per ton in 2022, with an increase of 8.2% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average export price increased by 12% against the previous year. Over the period under review, the average export prices attained the peak figure at $568 per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($750 per ton), while North Macedonia ($0.7 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.3%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform