The Asia Pacific Corn Syrup Market would witness market growth of 4.8% CAGR during the forecast period (2022-2028).
The exponential expansion in world population, rapid urbanization, increase in disposable income, changes in dietary preferences, as well as the surge in demand for packaged foods are the factors that contribute to the growth of the corn syrup market. The demand for corn syrup for the production of several food and beverage items is estimated to rise as a result of the immense stress that the growing population is expected to put on the food and beverage supply.
Furthermore, the market is expanding rapidly due to the spike in the use of corn syrup solids in the production of powdered drink mixes. A prominent factor driving the market's growth is the increase in the use of high fructose corn syrup (HFCS) and corn syrup solids in the pharmaceutical industry.
India's food processing industry plays a crucial role in connecting Indian farmers with consumers in both home and foreign markets. Efforts are being made by the Ministry of Food Processing Industries (MoFPI) in order to encourage investments along the whole value chain. 12.38% (at the 3-digit NIC categorization level) of the employment created in the entire Registered Factory sector, or roughly 1.93 million workers, is attributable to the food processing industry. According to the NSSO 73rd Round study, the unregistered food processing sector generates employment for 5.1 million people. Grain, sugar, edible oils, drinks, and dairy products are the main industries that make up India's food processing industry.
The China market dominated the Asia Pacific Corn Syrup Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $849.9 Million by 2028. The Japan market is estimated to grow a CAGR of 4.2% during (2022 - 2028). Additionally, The India market would showcase a CAGR of 5.4% during (2022 - 2028).
Based on Application, the market is segmented into Food & Beverages and Pharmaceuticals. Based on Distribution Channel, the market is segmented into B2C and B2B. Based on Type, the market is segmented into High Fructose, Light, Dark, and Solid. The report also covers geographical segmentation of Corn Syrup market. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Corn Syrup Market is Projected to reach USD 11.1 Billion by 2028, at a CAGR of 4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ACH Food Companies, Inc. (Karo), Grain Processing Corporation (Kent Corporation), Global Sweetners Holdings Ltd., Archer Daniels Midland Company, Cargill Corporation, Ingredion, Incorporated, Tate & Lyle PLC, and COFCO Corporation.
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