VIETNAM GLUCOSE SYRUP MARKET

Vietnam glucose syrup market is set to grow at a robust CAGR between 2025 and 2032 primarily supported by the rise in convenience food consumption and the growing pharmaceutical sector.

Major Market Drivers and Emerging Trends

The growing food and beverage industry sector is a key factor driving the need for glucose syrup as it is an essential ingredient in many items by providing sweetness. The country ranked as the third-fastest growing country in Asia regarding food expenditure based on the report by BritCham Vietnam. This surge in food and drink consumption is projected to boost the demand for sweetener thereby contributing to the Vietnam glucose syrup market size growth.

The market growth is also supported by the growing recognition among health-conscious consumers about the advantages of natural sweeteners and the various functional benefits of glucose syrup in different applications. Natural sweeteners are gaining popularity over sugar owing to being less processed and providing potential health benefits.

The growing pharma sector is further driving the need for glucose syrup which is used in specific medicinal formulations. The pharmaceutical sector in Vietnam is growing rapidly driven by strong economic growth coupled with higher income and an aging demographic. The market size in Vietnam is growing owing to a large population surpassing 98 million along with a life expectancy of around 76 years. Around thirty million people in the country are able to afford more costly Western medicine and this number is increasing. The growing trend is driving the demand for glucose syrup especially in manufacturing oral medication where it helps to reduce bitterness.

However the market is experiencing challenges like tough competition from sugar substitutes or other alternative sweeteners with consumers increasingly leaning toward healthier choices. The challenge is further driven by increasing concerns about the negative health effects from excessive sugar intake. Changes in the raw material costs including corn which is a key ingredient in glucose syrup manufacturing, can also influence the complete financial framework for producers in this industry.

Based on grade, the market is divided into pharma, food and industrial categories. The food grade segment is experiencing notable growth owing to the increased demand for processed foods in the country which drives the demand for glucose syrup that is safe for consumption. The pharma grade segment is also growing rapidly as glucose syrup is crucial for providing sweetness and masking bitterness in medicines which makes them more palatable.

Based on sources glucose syrup can be produced from various ingredients including wheat, corn, cassava, among others. Many glucose syrups in the country are derived from corn. Even though it can also be sourced from gluten-containing grains like barley and wheat, it undergoes a purification process to eliminate all proteins. Wheat glucose syrup is thereby often considered gluten-free owing to the removal of the gluten protein during the thorough processing.

Based on form, the liquid segment will experience substantial growth fueled by the expansion of the food and beverage sector along with the increasing need for convenience. The segment growth is also driven by the multifunctional role of liquid syrup as a sweetening agent. Liquid sugar further serves as a sweetener in baked goods or beverages and it is also commonly used in syrups or sauces.

Based on application, it is primarily applied in the food and beverage industry along with the confectionery products. The syrup can be used in beverage production to boost the flavor which makes it more enjoyable. Incorporating it as a sweetener in products including preserved fruits and canned foods can also improve shelf life while maintaining the flavor.

Top Market Players

The market sees strong involvement from key players who specialize in producing this vital sweetener. Lasuco, KCP Limited, Cargill among others are significant market participants because they offer glucose syrup for numerous applications. With a strong focus on quality and compliance with industry regulations they have become major participants in shaping the market.

Segments covered in the Report:

The Vietnam 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

Vietnam Glucose Syrup Market by Grade

• • Food
  • Pharma
  • Industrial

Vietnam Glucose Syrup Market by Source

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

Vietnam Glucose Syrup Market by Form

• • Liquid
  • Granular

Vietnam Glucose Syrup Market by Application

• • Pharmaceuticals
  • Foods
  • Beverages
  • Confectioneries
  • Others

Vietnam Glucose Syrup Market Leading players

• • Lasuco
  • KCP Limited
  • Cargill