Industrial Sugar Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Industrial Sugar Market
The industrial sugar market size was valued at USD 15.11 billion in 2023, and the market is now projected to grow from to USD 15.86 billion in 2024 to USD 24.31 billion by 2032, exhibiting a CAGR of 5.4% during the forecast period of 2024-2032.
The around the world COVID-19 has posed exceptional challenges to the industrial sugar market growth, driving lower-than-anticipated demands around the world. In 2020, the market experienced a vital diminishes of 18.78% compared to 2019 levels. In any case, despite these mishaps, the market is seeing eminent development driven by the development of nourishment handling exercises in developing markets like the Asia Pacific and the Center East & Africa. The expanding request for alcoholic and non-alcoholic refreshments, as well as heated products and dairy items, is anticipated to fuel market growth within the coming long time. Whereas the widespread at first affected sugar utilization due to well-being concerns and supply chain disturbances, the continuous reviving of eateries and normalization of the supply chain are encouraging the resurgence of market growth. Over the forecaster period, relentless development is expected, driven by the rising request for handled nourishment and refreshments, nearby expanded utilization exterior the domestic.
The growing utilization of sugar in prepared nourishment and refreshments may be a key figure driving market growth. With the nourishment and refreshment industry encountering noteworthy advancement and advancing customer requests, sugar has become a fundamental fix due to its flexible applications. Expanded consumption of both alcoholic and non-alcoholic refreshments, at the side the rising slant of refreshments as snacks, is a driving request. Besides, the rising notoriety of heated merchandise, desserts, and different prepared nourishments like sauces, soups, and solidified dinners is anticipated to maintain market growth within the forecasted period. Also, the heightening request for sweet confectioneries, especially in developing markets just as the Asia Pacific and the Middle East, is boosting market development. Inventive item offerings in confectionery, aimed at drawing in a more extensive shopper base, are expected to contribute to market growth of the industrial sugar market share within the coming long time.
Expanding mindfulness of well-being concerns such as diabetes and weight is driving a move towards more advantageous nourishment choices, driving a surge in requests for natural sugar. This slant mirrors the developing inclination for natural fixings, with natural sugar playing an essential part in handled nourishment items, especially within the U.S.
Comprehensive Analysis of Industrial Sugar Market
The industrial sugar market shows assorted patterns and division variables forming its direction. Ruled by cane sugar due to its broad development in tropical districts, it accounts for the larger part of worldwide sugar generation. In differentiation, challenges such as rising input costs and diminishing development cultivation development ranges prevent the growth of sugar beet generation. Inside sugar sorts, white sugar remains overwhelming, favored for its flexibility in nourishment handling and family utilization. Brown sugar, with its particular flavor profile, and fluid sugars, esteemed for improving taste and rack life, complements the market elements. In terms of end-use, confectionery develops as a key portion driven by rising expendable salaries and shopper inclinations for quality items. At the same time, the refreshments portion expects development moved by the drift of sound hydration in created markets and the ubiquity of different refreshments among millennials in rising economies.
The Asia Pacific region overwhelms the worldwide industrial sugar market size of USD 17.29 billion in 2023 due to driven by strong requests for sugar-rich confectionery and delicate drinks, especially in urban regions. India, Indonesia, and China are balanced for noteworthy development fueled by populace development and rising expendable salaries.
Key players within the industrial sugar market play an urgent part in driving growth and setting industry benchmarks. These incorporate Suedzucker AG (Germany), Tereos S.A. (France), Cosan (Brazil), Related British Nourishments (U.K.), Mitr Phol Bunch (Thailand), Cargill, Inc. (U.S.), Majestic Sugar Company (U.S.), Rogers Sugar, Inc. (Canada), American Precious stone Sugar Company (U.S.), and Louis Dreyfus Holding B.V. (Netherlands). Their market nearness guarantees a competitive scene, empowering innovation and catering to the developing request for natural organic sugar items.
In October 2020, DouxMatox and Lantic, North American sugar producers, reported an organization to present an interesting cane sugar-based arrangement for sugar diminishment in nourishment preparing, pointing to address North America's market request.
Segmentation Table
Global Industrial Sugar Market Scope
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 3.23% from 2024-2032
Unit Value (USD Billion)
Segmentation By Source, By Type, By End Use, and By Geography
BySource Cane Sugar
Beet Sugar
ByType
White Sugar
Brown Sugar
Liquid Sugar
By End Use Beverages
Confectionary
Bakery
Dairy Products
Other Food Applications
ByGeography North America (By End Use, Distribution Channel, Raw Material and By Country)
- U.S. (ByEnd Use)
- Canada (By End Use)
- Mexico (ByEnd Use)
Europe (By Type,Distribution Channel, Raw Material and By Country)
- U.K. (By End Use)
- France (ByEnd Use)
- Germany (ByEnd Use)
- Russia (ByEnd Use)
- Rest of Europe (ByEnd Use)
Asia Pacific (By Type,Distribution Channel, Raw Material and By Country)
- China (ByEnd Use)
- India (By End Use)
- Japan (By End Use)
- Indonesia (By End Use)
- Rest of Asia Pacific (By End Use)
South America (By Type,Distribution Channel, Raw Material and By Country)
- Brazil (By End Use)
- Colombia (By End Use)
- Rest of South America (By End Use)
Middle East & Africa (By Type,Distribution Channel, Raw Material and By Country)
- South Africa (By End Use)
- Turkey (By End Use)
- Rest of Middle East & Africa (By End Use)
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