Global Sugar Market Size Study & Forecast, By Product Type (White Sugar, Brown Sugar, Liquid Sugar), By Form (Granulated Sugar, Powdered Sugar, Syrup Sugar), By Source (Sugarcane, Sugar beet), By End-use (Food and Beverage, Pharmaceuticals, Personal care,

Global Sugar Market Size Study & Forecast, By Product Type (White Sugar, Brown Sugar, Liquid Sugar), By Form (Granulated Sugar, Powdered Sugar, Syrup Sugar), By Source (Sugarcane, Sugar beet), By End-use (Food and Beverage, Pharmaceuticals, Personal care, Household), and Regional Analysis, 2023-2030

Global Sugar Market is valued at approximately USD XX billion in 2022 and is anticipated to grow with a healthy growth rate of more than 6.5% over the forecast period 2023-2030. Sugar, extracted mainly from sugar beet and sugar cane, sweetens various beverages and foods, dissolves readily in water, provides nutrition and energy, and improves the color and texture of dishes. Furthermore, it extends the shelf life of food products like jams and jellies by inhibiting the growth of microorganisms. The market growth is driven by key factors such as the increasing global population, increased consumption of sugar-based products, and continual expansion of the food and beverage industry.

The demand for sugar is reinforced by its utilization in biofuel production, particularly from crops like sugarcane and sugar beets. In regions with biofuel mandates or incentives, there is a surge in the cultivation of sugar crops for this purpose, adding pressure to the global market. Additionally, the growth of the sugar market is propelled by the increasing demand for confectionery products. Household consumption remains robust, driven by the popularity of homemade pastries, cakes, sweet rolls, and pies, among other bakery delights. Moreover, rising standards of living and growing purchasing power in emerging economies contribute to heightened consumption of processed foods containing high sugar content, such as dairy products and soft drinks, thereby expanding the market share further. As per Statista, in 2022, the processed food market in South Korea reached approximately 116.87 trillion South Korean won, marking a notable increase from the previous year's figure of about 102.52 trillion. This growth trend reflects a steady expansion in the market size of processed food in recent years. However, the availability of substitute products and the rising shift towards a healthy lifestyle stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Sugar Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. In 2022, Asia Pacific is leading the market growth with a significant revenue share of around XX%. This region boasts some of the world's largest sugar-producing nations, including India, China, Thailand, and Indonesia. The favorable agro-climatic conditions and expansive arable land in Asia-Pacific region creates an ideal environment for sugarcane cultivation, which serves as the cornerstone of the sugar industry.

Meanwhile, North America’s sugar market is projected to experience the fastest growing with a CAGR of XX% from 2023 to 2030. This growth is propelled by the increasing demand for sugar-based products, such as packaged snacks, sweetened beverages, and confectionery items, driven by the trend towards convenience foods and snacking. The busy lifestyles and on-the-go eating habits of consumers further contribute to the popularity of these products in the region.

Major market players included in this report are:
Wilmar International Ltd
Südzucker AG
Tereos
Texon International Group
Cosan
Mitr Phol Group
Associated British Foods plc
Nordzucker
Biosev (Louis Dreyfus)
Thai Roong Ruang Sugar Group

Recent Developments in the Market:
 In August 2023, Sugar Refinery Sdn Bhd (CSR) unveiled its latest innovation, Better White Clear White Sugar, marking a significant milestone in its mission to solidify its position as Malaysia's leading sugar expert. Building on the triumph of CSR's Better Brown variant introduced in 2018, which has since claimed 78% of Malaysia's brown sugar market share, Better White emerges to cater to evolving consumer demands. By prioritizing quality and affordability, Better White aims to exceed consumer expectations and deliver premium sugar products.
 In August 2023, Mumbai-based UPL Sustainable Agriculture Solutions (UPL SAS) and Hyderabad's NSL Sugars joined forces through a Memorandum of Understanding (MoU) to champion sustainable practices in sugarcane cultivation. While UPL SAS focuses on expanding its market reach, NSL Sugars is committed to reaping the rewards of environmentally friendly farming methods. Together, their collaboration aims to boost sugarcane yields by 15% per acre, equivalent to an additional 5 metric tonnes, thereby fostering a more sustainable and productive agricultural landscape.

Global Sugar Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered – Product type, Foam, Source, End-use, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define the market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters to detailed information about the crucial aspects such as driving factors & challenges that will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with a detailed analysis of the competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Product Type:
White Sugar
Brown Sugar
Liquid Sugar

By Foam:
Granulated Sugar
Powdered Sugar
Syrup Sugar

By Source:
Sugarcane
Sugar Beet

By End-use:
Food & Beverages
Pharmaceuticals
Personal Care
Household

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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