New York, July 29, 2020 (GLOBE NEWSWIRE) -- According to the current analysis of Reports and Data, the Global Industrial Sugar Market is expected to reach USD 45.6 billion by the year 2027, in terms of value at a CAGR of 6.5% from 2020-2027. Industrial sugar is a flourishing commodity across the world that is driving the market. An increase in the usual international prices and the surge in the importance of international trade of sugar are resulting in the rising demand for industrial sugar. Furthermore, the progress is principally supplemented by the increasing population and the growing consumption of sweetened items. The growth in the confectionery products, especially bakery foods, are driving the higher usage of industrial sugar in the market. Nevertheless, certain limitations like water consumption due to monoculture production of industrial sugar is a foremost restraint for the industrial sugar market across the world. Additionally, the sudden impact of the COVID-19 pandemic will hinder the growth by halting production and disrupting the supply chain.
Pricing pressure of Industrial Sugar and increasing costs of sugar production are the significant challenges for the industrial sugar market growth.
According to FAO, global sugar prices are predicted to stay low in the short term before rising moderately in the following years. By 2025, they will be higher than in 2018. The nominal world raw sugar price is forecasted at USD 342/t and USD 425/t for white sugar in 2025. The white sugar premium, although improving in the current period due to increasing import demand in Sudan and Myanmar, is foreseen to undergo a squeeze in 2018, as the abolition of the EU sugar quota allows for further one exports of white sugar on the world market. The resultant downward pressure on price will encourage producers to switch to exporting more raw sugar rather than white sugar, which in turn will stabilize the premium towards the end of the period (USD 83/t versus USD 85/t in 2018).
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Further key findings from the report suggest
- It is predicted that sugarcane will account for about 86% of sugar output by 2027. However, some expansion of sugar beet production is foreseen in Ukraine, Egypt, the Russian Federation, and the EU following the abolition of quotas in 2017. For sugar beet and sugarcane production, most of the increases are predicted to come from higher yields and area expansion, and, in the EU, a lengthening of the beet slicing period.
- Sugar production in South Africa is expected to rise by 4.5% p.a. to 2027 due to sustained surge in production capacity at both the field and processing levels, principally in Sub-Saharan lands.
- Australia is an export-oriented country that will benefit from recent efforts from milling groups to increased cane plantings and sugar yields and an assumed low Australian dollar compared to the US dollar. With regular weather conditions, its sugar production is anticipated to grow by 1.7% p.a. to 5.8 Mt by 2025.
- Based on type, brown sugar is projected to grow at the fastest CAGR of 7.5%. The demand for beverages has received growth due to the growing demand from metropolitan areas, where sweetened beverages become more popular. It is expected to remain a key driver for the brown sugar market in the coming years.
- The granulated industrial sugar occupied the lion’s share of 41.2% in 2019, owing to its increased demand. It is the most regularly used sugar in the kitchen for most varieties of cooking. Increasing use and continuous growth of the population leads to growing the demand for granulated sugar in the market. It also has essential properties, including moisture, flavor, and color, into baking & confectionery products, which leads to an upsurge in its production and drives the growth of the industry.
- Key companies in the industrial sugar market include Illovo Sugar (Pty) Ltd, Tereos, Nordzucker Group AG, Cargill, E.I.D Parry Limited, Archer Daniels Midland Company, Sudzucker, AG, and Raizen SA.
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Market segmentation:
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the industry trends in each of the sub-segments from 2017 to 2027. For this study, Reports and Data segments the Industrial Sugar Market based on type, source, form, application, and region.
Type Outlook (Revenue, USD Million; 2017-2027)
- White sugar
- Brown sugar
- Liquid sugar
Source Outlook (Revenue, USD Million; 2017-2027)
- Cane sugar
- Beet sugar
Form Outlook (Revenue, USD Million; 2017-2027)
- Granulated
- Powdered
- Syrup
Application Outlook (Revenue, USD Million; 2017-2027)
- Dairy
- Bakery
- Confectionery
- Beverage
- Canned & frozen foods
- Pharmaceuticals
- Other food items
Source Outlook (Revenue, USD Million; 2017-2027)
- Cane sugar
- Beet sugar
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/industrial-sugar-market
Regional Outlook (Revenue, USD Million; 2017-2027)
- North America
- U.S
- Canada
- Europe
- U.K
- France
- Italy
- Spain
- Germany
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia Pacific
- Latin America
- Brazil
- Middle East & Africa
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