Cane Sugar Market - Growth, Trends, and Forecasts (2023 - 2028)

Cane Sugar Market - Growth, Trends, and Forecasts (2023 - 2028)

The global cane sugar market is expected to register a CAGR of 5.3% over the next five years.

Key Highlights

• Sugar from cane is helpful for blood insulin levels, body protein levels, and hydration. Due to its availability, sweetness, and slightly fruity flavour, it is frequently chosen above other sugars for its use in sweetening baked products and hot beverages. Growing consumer demand for cane sugar as a sweetener in food and beverage products drives the cane sugar market during the forecast period.
• Due to increased demand from diverse industries, cane sugar is becoming more and more popular as a sweetener. The food and beverage sectors employ cane sugar as a source of energy, trace minerals, and antioxidants, which has led to a significant expansion in the cane sugar market.
• The abundance of sugarcane availability, and properties of cane sugar, such as better flavour and caramelization, make it superior to beet sugar. Also, innovations in the existing conventional sugar, such as brown cane sugar, which consists of added molasses to enhance flavor and appearance, by the leading global players, as well as the small domestic players, are attracting consumers and propelling the market growth.
• According to the Organisation for Economic Co-operation and Development (OECD), the rise in global sugar consumption is likely to come from developing countries, attributed to rising demand for sugar-rich confectionery products and soft drinks. Across Asia-Pacific, India is expected to lead the growth, followed by Indonesia, China, and Pakistan.
• However, due to the adverse health effects caused by cane sugar, consumers are inclined towards artificial sweeteners. Also, the development of other better sugar substitutes, such as coconut sugar, stevia, and regulations imposed by the regulatory bodies and other health organizations are restraining market growth. For instance, the American Heart Association (AHA) recommends a strict-sugar limit of no more than 100 calories per day for adult women and 150 calories for adult men.

Key Market TrendsIncreased Trade of Organic Cane Sugar

• Organic cane sugar is witnessing enhanced demand these days. Organic cane sugar is unrefined sugar that contains a full taste of sugarcane, is less processed, retains a lot of nutrients, and thus excludes cancer-causing and environmentally damaging pesticides present in otherwise conventionally grown sugarcane.
• Furthermore, organic cane sugar is high in polyphenols, has powerful phytonutrients with qualities of antioxidants, and is loaded with vitamins and minerals, including magnesium, calcium, manganese, potassium, and iron, coupled with amino-acids that help to burn fat and build muscle. The presence of basic amino acids like lysine, histidine, arginine, methionine, pipecolic acid, arginine, etc., is found to lower cholesterol.
• Organic cane sugar is much better than white sugar and brown sugar. The attributes such as availability, texture, cost, eco-friendliness, nutrition benefits, and rich sugarcane flavour over regular conventional cane sugar, etc., support the demand and consumption of organic cane sugar across the globe.

Asia-Pacific Region To Witness Fastest Growth

• Asia-Pacific is bound to witness the fastest growth in the global cane sugar market. India, Thailand, and China account for the largest share of the regional market, owing to the volume of sugarcane harvested and processed into sugar in these countries. According to the Food and Agricultural Organization, China imports most of the sugar as its domestic production is insufficient to meet domestic consumption.
• The sugar industry of India also carries significant economic importance and is regulated by the central government. According to the OECD- FAO Agricultural Outlook, the average per-capita sugar consumption is likely to increase in coming years, wherein Asia and Africa will be the largest contributors to demand.
• The shift from cassava to sugarcane production because of the higher returns and lowering of sugar prices are causing farmers in countries such as Thailand to prefer shifting towards cane sugar production. Furthermore, prominent market players in the food and beverage industry witnessing a high inclination towards organic cane sugar will likely impact the market positively over the forecast period.
• According to ITC Trade Map, Trade statistics for international business development, In 2021, The import value of Raw Cane Sugar in Indonesia was around USD 2,229,890, followed by China with an Import value of USD 1,942,598. While India is the second major exporter of Raw Cane Sugar, the export value was valued at USD 1,340,793, followed by Thailand with an export value of USD 630,065.

Competitive Landscape

The global market for cane sugar is fragmented, owing to the presence of large regional and international players in the market. The major players are Global Organics, Ltd., DO-IT Food Ingredients BV, Louis Dreyfus Company B.V., Louis Dreyfus Company B.V., and Raízen. Emphasis is being laid on the marketing strategies like merger, expansion, acquisition, and partnership of the companies along with new product development adopted by the leading market companies to boost their brand presence among consumers. Other than expansion, investment in branding sugar products is also another strategy adopted by major players.

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• The market estimate (ME) sheet in Excel format
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