The global glucose syrup market experienced fluctuating pricing patterns in the final quarter of 2024, driven by shifting demand dynamics, raw material availability, and evolving consumption trends across the food and beverage industry. According to recent spot market data from the United States, food-grade glucose syrup prices showed a combination of marginal declines and sharper corrections year-over-year, reflecting a market still adjusting to post-pandemic supply cycles and agricultural uncertainties.In October 2024, glucose syrup was priced at USD 1,058/MT, marking a 4% decline from the October 2023 level of USD 1,100/MT. Industry analysts attribute the drop to adequate corn supplies and steady production levels, which eased cost pressures for manufacturers. Despite the downward shift, analysts from Expert Market Research suggest that the broader market fundamentals still point toward a mild upward trajectory heading into the second half of 2025, driven by rising demand from confectionery, baking, beverages, and processed foods.
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The month of November 2024 remained largely stable, with prices reaching USD 1,098/MT, almost identical to the previous year’s USD 1,100/MT, reflecting a minimal 0.2% YoY decrease. This stability is seen as an indicator of balanced supply and demand conditions. Industry procurement teams reported healthy inventory levels and steady contract volumes, preventing any major price swings. The neutral pricing environment also supports consistent production schedules for food processors that depend heavily on glucose syrup as a key sweetening and texturizing agent.
In December 2024, the market witnessed a more pronounced correction, as prices dropped to USD 1,058/MT, down 11% YoY from USD 1,193/MT in December 2023. This sharper decline is linked to lower-than-expected seasonal consumption and competitive pricing across global suppliers. The dip also reflects normalization from the elevated price levels seen in late 2023, when supply chain disruptions and higher corn costs had temporarily inflated market rates.
Looking ahead to 2025, Expert Market Research anticipates that glucose syrup prices may experience gradual increases, particularly in the latter half of the year. Seasonal volatility remains likely, influenced by crop performance, weather patterns, and energy costs. However, growing demand from ready-to-eat foods, bakery, dairy, and confectionery applications will continue to support market stability.
Overall, the Q4 2024 price trends demonstrate a market finding equilibrium after a period of volatility, with expectations pointing toward a cautiously optimistic pricing environment in 2025.