Dublin, June 05, 2023 (GLOBE NEWSWIRE) -- The "Industrial Sugar Market by Type (White Sugar, Brown Sugar, & Liquid Sugar), Application (Dairy Products, Bakery Products, Confectionery, Beverages, & Pharmaceuticals), Source (Sugarcane & Sugar Beet) and Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The industrial sugar market is projected to reach USD 59.1 billion by 2028 from USD 46.4 billion by 2023, at a CAGR of 5.0% during the forecast period in terms of value. The demand for industrial sugar is driven by the growth in the food and beverage industry, which accounts for the majority of sugar consumption. The increasing demand for convenience foods and beverages has led to an increase in the use of sugar as a sweetener and preservative.
The pharmaceutical and chemical industries also use sugar as a raw material in the production of various products. Moreover, the industrial sugar market is also influenced by the growing trend toward natural and organic food products, which has increased demand for organic sugar. Additionally, the market for alternative sweeteners, such as high-fructose corn syrup, is also impacting the demand for industrial sugar.
By type, white sugar is projected in high demand during the forecast period.
Several factors, including the growing demand for processed foods and beverages and the increasing use of sugar in the pharmaceutical and personal care industries, drive the global market for white sugar. The market is also influenced by factors such as sugar prices, government regulations, and the availability of raw sugar. Moreover, the raw sugar undergoes a refining process that removes impurities and produces a granulated, white product that is approximately 99.5% pure sucrose. This refined white sugar is commonly used in the food and beverage industry as a sweetener and in other industrial applications.
By form, the market for granulated industrial sugar is projected in high demand
Granulated sugar is commonly used as a sweetener in a wide variety of food and beverage products, including baked goods, confectionery, soft drinks, and other processed foods. The demand for granulated sugar is steady throughout the year because it is a common ingredient in many food and beverage products. The granulated sugar market is also influenced by various external factors such as changes in government regulations, weather conditions, and trade policies. For instance, changes in sugar import/export tariffs and quotas can impact the availability and prices of granulated sugar in different regions of the world.
Asia Pacific will significantly contribute towards market growth during the forecast period
The industrial sugar market in the Asia Pacific region has been experiencing steady growth over the past few years. This growth can be attributed to the dominance of domestic food manufacturers, which is driving the adoption of food & beverages industry in the region. Moreover, the food and beverage industry is the largest consumer of industrial sugar in the region, due to the high demand for sweeteners and other sugar-based ingredients in various food and beverage products. Additionally, the pharmaceutical and personal care industries are also driving the growth of the industrial sugar market in the region, as sugar is widely used in the production of medicines and cosmetic products.
Market Dynamics
Drivers
- Rise in Global Consumption of Sugar and Growth in International Trade
- Increasing Use of Sugar By-Products in Industries
- Rising Use of Beet Sugar as Raw Material in Beverage Production
Restraints
- Need for Water-Consuming Monoculture Production
- Increasing Popularity of Alternate Sweeteners as Sugar Substitutes
Opportunities
- Growing Need to Explore Potential of Sugarcane Crops Using Energy Optimization
- Increasing Development of the Global Sugar Industry
- Preferential Trade Agreements Governing Sugar Imports
Challenges
- Fluctuations in Price and Availability of Sugar
- High Cost of Producing Sugar
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 242 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $46.4 Billion |
| Forecasted Market Value (USD) by 2028 | $59.1 Billion |
| Compound Annual Growth Rate | 5.0% |
| Regions Covered | Global |
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Industrial Sugar Market, by Form
7.1 Introduction
7.2 Granulated
7.2.1 Growing Demand for Processed Foods to Boost Growth of Granulated Sugar
7.3 Powdered
7.3.1 Popularity of Bakery and Confectionery Products to Drive Powdered Sugar Market in Developing Countries
7.4 Syrup
7.4.1 Increased Shelf Life of Syrup Sugar to Boost Use in the Food Industry
8 Industrial Sugar Market, by Source
8.1 Introduction
8.2 Sugarcane
8.2.1 Rising Consumption of Bakery Items to Propel Demand for Natural and Non-Gmo Sugarcane
8.3 Sugar Beet
8.3.1 Sugar Beet Cultivation to Promote Environmental Sustainability and Ensure Local Food Security
9 Industrial Sugar Market, by Type
9.1 Introduction
9.2 White Sugar
9.2.1 Versatility and Availability of White Sugar to Drive Its Popularity as an Important Ingredient in Food Industry
9.3 Brown Sugar
9.3.1 Popularity of Brown Sugar Expected to Rise with Consumers Seeking Healthy and Ethical Food Options
9.4 Liquid Sugar
9.4.1 Adaptability and Consistency of Liquid Sugar to Enhance Use in the Food Sector
10 Industrial Sugar Market, by Application
10.1 Introduction
10.2 Dairy Products
10.2.1 Rise in Popularity of Cream, Milk, and Cheese to Drive Growth of Industrial Sugar Market
10.3 Bakery Products
10.3.1 Increased Consumption of Bakery Products due to Rising Per Capita Incomes to Propel Market for Industrial Sugar
10.4 Confectionery
10.4.1 Rising Consumption of Gummies and Jellies Among Youth to Boost Growth of Industrial Sugar
10.5 Beverages
10.5.1 Increasing Inclination Toward Refreshment Drinks to Boost Use of Sugar in Beverages
10.6 Canned & Frozen Foods
10.6.1 Growing Popularity of Canned Fruits and Ice Creams to Drive Market for Industrial Sugar
10.7 Pharmaceuticals
10.7.1 Rising Use of High-Quality Sugar in Pharma Formulations to Boost Growth of the Industrial Sugar Market
10.8 Other Applications
11 Industrial Sugar Market, by Region
12 Competitive Landscape
13 Company Profiles
14 Adjacent & Related Markets
15 Appendix
Companies Mentioned
- Al Khaleej Sugar
- American Crystal Sugar Company
- Associated British Foods PLC
- Bajaj Hindusthan Sugar Ltd.
- Bannari Amman Group
- Canal Sugar
- Cargill, Inc.
- Dalmia Bharat Group
- Dhampur Bio Organics Limited
- Dhanraj Sugars Pvt. Ltd.
- Dwarikesh Sugar Industries Limited
- Lantic Inc.
- Louis Dreyfus Company
- Mehta Group
- Michigan Sugar Company
- Mitr Phol Group
- Nile Sugar
- Rajshree Sugars & Chemicals Limited (Rscl)
- Rana Group
- Raizen
- Shree Renuka Sugars
- Sudzucker AG
- Tereos
- Thai Sugar Group
- Upper Ganges Sugar & Industries Limited
For more information about this report visit https://www.researchandmarkets.com/r/oakbt9
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
