Dublin, July 11, 2024 (GLOBE NEWSWIRE) -- The "Sugar - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Sugar is estimated at 187.4 Million Tons in 2023 and is projected to reach 220.3 Million Tons by 2030, growing at a CAGR of 2.3% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. 
The growth in the sugar market is driven by several factors. Technological advancements in agriculture and processing have enhanced production efficiency, allowing for higher yields and better quality sugar. Innovations such as genetically modified crops resistant to pests and diseases, precision farming techniques, and automation in processing plants are significant contributors to these advancements. The expanding food and beverage industry, particularly in emerging markets, continues to drive demand for sugar as a key ingredient.
Countries in Asia, Africa, and Latin America are experiencing rapid urbanization and increasing disposable incomes, leading to higher consumption of processed foods and beverages that contain sugar. Innovations in product formulations, such as the development of new confectionery, bakery products, and ready-to-drink beverages, are also propelling market growth.
Additionally, the increasing population and rising disposable incomes in developing countries are leading to higher consumption of sugar-rich foods and beverages. Despite the health-related challenges, sugar remains a vital ingredient in numerous products, ensuring its sustained demand. The industry`s focus on sustainable practices and diversification into alternative sweeteners is helping to balance the market dynamics, meeting both consumer preferences and regulatory requirements. These factors collectively ensure the continued relevance and growth of the sugar market in the global economy, as it adapts to meet the challenges and opportunities of the modern world.
Regional Analysis
Gain insights into the U.S. market, estimated at 50.6 Million Tons in 2023, and China, forecasted to grow at an impressive 3.5% CAGR to reach 41.5 Million Tons by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Associated British Foods PLC, CJ CheilJedang Corporation, CSR Ltd., and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 294 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value in 2023 | 187.4 Million Tons |
| Forecasted Market Value by 2030 | 220.3 Million Tons |
| Compound Annual Growth Rate | 2.3% |
| Regions Covered | Global |
MARKET OVERVIEW
- Influencer Market Insights
- Global Economic Update
- Sugar - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Advances in Agricultural Technology Propel Growth in Sugar Production
- Rising Health Consciousness and Demand for Low-Sugar Alternatives Expand Market Dynamics
- Regulatory Actions and Sugar Taxes Spur Innovations in Product Reformulation
- Increasing Consumer Awareness of Health Risks Associated with Sugar Intake Drives Market Shifts
- Expansion of the Food and Beverage Industry in Emerging Markets Spurs Sugar Demand
- Innovations in Sugar Processing Enhance Production Efficiency and Quality
- Growing Popularity of Natural and Organic Sweeteners Generates New Market Opportunities
- Urbanization and Busy Lifestyles Propel Demand for Ready-to-Eat and Processed Foods
- Innovations in Alternative Sweeteners Drive Adoption and Market Diversification
- Growth of Specialty and Artisanal Sugar Products Creates Niche Market Opportunities
- Technological Integration in Sugar Packaging Improves Product Freshness and Shelf Life
- Rising Demand for Convenience Foods Drives Adoption of Sugar as a Key Ingredient
- Expansion of E-Commerce and Online Retail Channels Broadens Market Reach
- Evolution of Consumer Preferences Towards Sustainable and Ethical Products Drives Market Trends
- Increasing Use of Sugar in Pharmaceuticals and Personal Care Products Generates Demand
- Seasonal and Festive Promotions Boost Demand for Sugar-Based Products
FOCUS ON SELECT PLAYERS
- Associated British Foods PLC
- CJ CheilJedang Corporation
- CSR Ltd.
- Hanseatische Zuckerraffinerie GmbH & Co. KG
- Sudzucker AG
- Syngenta AG
- Tate & Lyle PLC
For more information about this report visit https://www.researchandmarkets.com/r/ry29ee
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