HIGH FRUCTOSE CORN SYRUP MARKET ANALYSIS

Regional Analysis

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North America has been the dominant region in the global high fructose corn syrup market for many years. The region is expected to account for 37.7% of the market share in 2024. The U.S. is the largest producer and consumer of HFCS in the world. Due to a well-established corn farming industry and presence of major food and beverage manufacturers, the U.S. accounts for over 70% of the North American high fructose corn syrup market. Easy availability of cheap corn as raw material and consumer preference for sweet sodas and packaged foods have made HFCS a popular sweetener alternative to sugar in the region. While Mexico is also an important producer, U.S. exports significant volumes of HFCS to its southern neighbor annually.

The Asia Pacific region has emerged as the fastest growing market for high fructose corn syrup outside of North America in recent times. Rapid economic development, rising disposable incomes, and expanding western influence on food consumption patterns are some factors driving the growth of the packaged food and beverage industry in the region. Nations like China, India, and Indonesia with their huge populations serve as lucrative markets for HFCS producers. While these countries do not have established corn farming, they import large volumes of HFCS at competitive rates to meet the needs of local food companies. Parts of Southeast Asia also exhibit growing adoption of HFCS. However, overall pricing of HFCS in the region remains higher than North America due to high transportation costs and other barriers faced by U.S./Mexico exporters in penetrating Asian markets.