PHILIPPINES GLUCOSE SYRUP MARKET

Philippines glucose syrup market is estimated to grow at a steady CAGR fostered by increased demand in food and beverages sector along with shifting consumer preferences.

Major Market Drivers and Emerging Trends

Philippines glucose syrup market size growth is largely fueled by the rapid urbanization and growing incomes which increase the need for processed foods and beverages. A growing demand for convenience and diverse food selections along with the interest in international tastes is also contributing to market growth. In addition improvements in food manufacturing technologies are important to addressing the changing needs of modern consumers.

There is also an increasing demand for baked goods and confectionery products which drives demand for glucose syrup. Baked items meet the growing demand because they can be options for breakfast or snacks. Baked products are a staple in many homes owing to their convenience and easy portability. The growing demand is also shaped by global food trends with consumers developing a preference for Western bakery products like croissants. The changing lifestyles have also contributed to an increased demand for convenience foods and confectioneries which is thereby fueling the demand for glucose syrup.

It is a liquid sweetener created by breaking down the starches in sources like corn or wheat into glucose molecules. Following the pandemic functional foods have become increasingly popular in the Philippines much like in many other regions in Asia. People are increasingly mindful of their health and eager to explore tasty options that offer nutritional advantages. Another growing trend is the increasing demand for plant-based alternatives. The rising interest in better food options will drive the desire for glucose syrup which is a natural sweetener perceived as a healthier choice than regular sugar.

The ongoing development in the pharmaceutical industry is further fueling the Philippines glucose syrup market share growth. With the Philippines ranking among the countries with the highest individual health spending in Asia Pacific, there has been a growing need for affordable and effective medications. The Universal Health Coverage initiative intends to lower the price cap on medicines which enhances their availability to Filipino consumers and promotes domestic manufacturing. This expanding industry is thereby contributing to the higher need for glucose syrup which is a common sweetener in many oral medications.

Based on grade, the food and pharma segments are seeing considerable growth. In the food segment the syrup can easily be incorporated into various recipes. Glucose syrup has an outstanding ability to regulate sweetness which makes it a common ingredient in bakery and confectionery products.

Based on source, the syrup is produced through the starch hydrolysis process mainly sourced from wheat or corn which are widely available in the country. Since glucose syrup is usually derived from corn starch, it closely resembles corn syrup and the two terms are frequently used interchangeably. Corn production in the country is set to increase driven by greater subsidies and the repurposing of banana plantations. The Philippines does not grow wheat and depends entirely on imports which are anticipated to rise.

Based on form, the market is categorized into liquid and granular types. Granulated sugar is a simple carbohydrate that offers calories but provides little nutritional benefit and can trigger a sudden rise in blood sugar levels. Meanwhile liquid glucose has a reduced glycemic index which means it offers steady energy without triggering sharp increases in blood sugar. Liquid glucose also contains a few minerals and vitamins which contributes some nutritional benefits.

Based on application glucose syrup is an important ingredient in food production where it functions as a sweetener and a thickener. The syrup is an ideal alternative to sugar or honey in recipes that need a less intense sweetness. It is also commonly found in cough syrups and vitamin supplements.

Top Market Players

Several major players in the market are Peotraco Food, Oleo Fats, Roquette, among others. Leading companies prioritize research and development to launch new products while expanding their product offerings.

Segments covered in the Report:

The Philippines Glucose Syrup Market has been segmented on the basis of Grade, Source, Form, Application. Based on Grade, the market is segmented into Food, Pharma, and Industrial. Based on Source, the market is segmented into Wheat, Corn, Barley, Rice, Potatoes, Cassava, and Others. Based on Form, the market is segmented into Liquid and Granular. Based on Application, the market is segmented into Pharmaceuticals, Foods, Beverages, Confectioneries, and Others.

Market Segmentation

Philippines Glucose Syrup Market by Grade

• • Food
  • Pharma
  • Industrial

Philippines Glucose Syrup Market by Source

• • Wheat
  • Corn
  • Barley
  • Rice
  • Potatoes
  • Cassava
  • Others

Philippines Glucose Syrup Market by Form

• • Liquid
  • Granular

Philippines Glucose Syrup Market by Application

• • Pharmaceuticals
  • Foods
  • Beverages
  • Confectioneries
  • Others

Philippines Glucose Syrup Market Leading players

• • Peotraco Food
  • Oleo Fats
  • Roquette