Farmington, Feb. 14, 2023 (GLOBE NEWSWIRE) -- The Global Industrial Sugar Market Size Was USD 37.62 Billion In 2021. The Market Is Projected To Grow From USD 38.58 Billion In 2022 To USD 46.56 Billion By 2030, Exhibiting A CAGR Of 2.72% During The Forecast Period 2022-2030. The COVID-19 pandemic has been shocking and has never happened before. Because of this, the demand for industrial sugar is lower than expected in all areas compared to before the pandemic. Our research shows that the world market was 18.78% smaller in 2020 than in 2019.
The market is growing quickly all over the world because food processing is becoming more popular in developing markets like Asia-Pacific, the Middle East, and Africa. More people want to drink both alcoholic and non-alcoholic drinks, so the market has grown a lot. In the coming years, the demand for baked goods, sweet treats, and dairy products like milk-based drinks, yoghurt, and ice cream is likely to make the industrial sugar market grow.
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Recent Developments:
- October 2020: North American sugar manufacturers DouxMatox and Lantic announce a collaboration to provide a unique cane-based sugar reduction solution for food processing companies in North America.
- October 2019: Parry's, a leading sugar manufacturer in India, launched natural brown sugar. This product is less processed and boasts micronutrients such as calcium, magnesium, potassium and iron.
Segment Overview
Source Insights:
Sugar will likely be made from sugarcane more than any other crop. Most of it is grown in tropical and subtropical areas of Asia, Africa, and South America. During the predicted time period, more land will be used to grow sugarcane, and better yields will also help. The Food and Agricultural Organization (FAO) and the Organization for Economic Cooperation and Development (OECD) say that sugarcane makes up about 86% of all sugar crops.
Type Insights:
The food industry and bakeries use white sugar a lot. Because it has small grains, white sugar is great for cooking and baking. They are also the ones most often used in homes, bakeries, cafes, restaurants, and places where food is processed. Granulated, caster, icing, and jam-setting sugar are some of the most common types of white sugar.
End Use Insights:
Because people eat sweets all over the world, they bring in the most money. In places like China, India, Indonesia, and the United Arab Emirates (UAE), the popularity of sweet treats has grown a lot over the past few years. People in these countries are getting more money to spend on things they want, which is the main reason for the growth. People these days are willing to pay more for high-quality, tasty, and flavourful goods.
Regional Outlook:
Asia-Pacific has the biggest share of the world market for industrial sugar. The market is growing a lot because more people want sweets and drinks with a lot of sugar in them, especially in cities. The most growth is expected in India, followed by Indonesia and then China. This is because the area is getting more people and people's incomes are going up.
People are eating less sugar in North American countries like the U.S. and Canada because there is more demand for sugar-free and low-sugar foods and drinks. People in this area are becoming more and more worried about their health, which is probably why the sugar market keeps growing.
Sugar use is likely to go up in Russia because more people are making their own sweets and alcohol.
Brazil is a big country that makes a lot of sugar. Even though people in the region don't eat as much sugar as people in other places, like Asia-Pacific, the need for sugar is slowly growing. The region's market is growing because people are always wanting more sweets and drinks. Sugar is also in high demand in other South American countries like Colombia, Argentina, and Chile because more people are buying processed foods.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 2.72% from 2023 to 2030. |
| Revenue Forecast by 2030 | USD 46.56 Billion |
| By Source | Cane Sugar, Beet Sugar, Others |
| By Type | White Sugar, Brown Sugar, Liquid Sugar, Others |
| By End-use | Beverages, Confectionary, Bakery, Dairy Products, Others |
| By Companies | Suedzucker AG (Germany), Tereos S.A. (France), Cosan (Brazil), Associated British Foods (U.K.), Mitr Phol Group (Thailand), Cargill, Inc. (U.S.), Imperial Sugar Company (U.S.), Rogers Sugar, Inc. (Canada), American Crystal Sugar Company (U.S.), Louis Dreyfus Holding B.V. (Netherlands) |
| Regions and Countries Covered |
|
| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Latest Trends:
The rising demand for healthier products will have an effect on the growth of the market.
People have become more interested in buying healthier foods in the past few years. Buying habits changed a lot during and after the pandemic. The sugar business around the world has also been affected by this trend. People are now looking for sugars that are healthier, less processed, and more raw, like brown sugar and organic sugar, to reduce the bad effects that sugar has on the body after it is eaten. People are buying more organic sugar because they think it is healthier and safer than regular sugar. To keep up with consumer demand, big sugar companies are putting a lot of work into making new kinds of sugar. Singapore-based Nutrition Innovation, for instance, has made a new sugar called Better Brown that has a low GI. The goal of this launch was to meet the growing demand among consumers for products that are healthier and less processed. More people are worried about health problems like diabetes, heart disease, and obesity that are caused by the way they live. This is likely to keep the demand for healthier sugars high.
Driving Factors:
By putting it in more processed foods and drinks, the market will grow.
Food and drink businesses are doing well all over the world. People are paying more attention to new ideas, making new products, and changing what they want, which has helped different parts of the food and beverage industry grow a lot. Because sugar can be used in so many ways, it has become an important part of the food processing industry. More and more people want to buy processed foods and drinks, which is the main thing that makes the market grow. Also, both alcoholic and non-alcoholic drinks have a lot of sugar in them. Drinks are being used as snacks more and more often. Because of this, there has been a big rise in the demand for milk, soft drinks, and drinks with health benefits.
Restraining Factors:
As more people learn that eating too many sweets is bad for their health, the market will grow more slowly.
A big factor in the growth of the industry is the growing number of lifestyle-related health problems, like obesity and diabetes, that are linked to eating too much sugar. In 2018, 415 million people around the world were diagnosed with diabetes, according to the Global Diabetes Community in the UK. This number is expected to reach 642 million by the year 2040. People usually choose low-carb, low-GI, and low-sugar diets to stay healthy and avoid these diseases. So, the rising number of people with health problems like diabetes and heart disease is likely to slow the growth of the market as a whole over the next few years. Also, the growing availability of honey, stevia, and jaggery as healthier alternatives to sugar is likely to slow the growth of the market.
Key Segments Covered:
Top Market Players:
Suedzucker AG (Germany), Tereos S.A. (France), Cosan (Brazil), Associated British Foods (U.K.), Mitr Phol Group (Thailand), Cargill, Inc. (U.S.), Imperial Sugar Company (U.S.), Rogers Sugar, Inc. (Canada), American Crystal Sugar Company (U.S.), Louis Dreyfus Holding B.V. (Netherlands), and others.
By Source
- Cane Sugar
- Beet Sugar
- Others
By Type
- White Sugar
- Brown Sugar
- Liquid Sugar
- Others
By End-Use
- Beverages
- Confectionary
- Bakery
- Dairy Products
- Others
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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