Research Nester published a report titled “Global and Asia Pacific Cane Sugar Market: Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global and Asia Pacific cane sugar market in terms of market segmentation by type, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global cane sugar market is anticipated to grow with a CAGR of 1.27% during the forecast period, i.e., 2021-2030. The market is segmented by type into crystallized and non-crystallized sugar, out of which, the crystallized sugar segment in the global cane sugar market is anticipated to attain the largest revenue of USD 205671.13 Million by the end of 2021, and also further hold the highest market share during the forecast period. The crystallized sugar segment is further divided into single and doubled crystallized sugar. Amongst these segments, the single crystallized sugar segment is expected to grow with the highest CAGR of 2.85% during the forecast period.
The global cane sugar market is estimated to garner a revenue of USD 252764.11 Million by the end of 2030, up from a revenue of USD 211788.91 Million in the year 2017. Growing use of sugar in different end-use purposes, followed by the increasing consumption and production of cane sugar in different countries worldwide, and the rising focus of the government of nations to increase the production of sugarcane farming, are some of the major factors anticipated to drive the market growth.
In Asia Pacific (excluding South East Asia), the cane sugar market garnered a revenue of USD 68037.91 Million in the year 2017, and is further projected to touch USD 88303.00 Million by the end of 2030. One of the major factors anticipated to drive the growth in the region is the presence of nations, such as India, China, Australia, and others, who are the leading exporters of cane sugar globally. Amongst the countries in the region, the market in China garnered the largest revenue of USD 37130.50 Million in the year 2017, and is further projected to touch USD 43968.31 Million by the end of 2030, by growing with a CAGR of 1.45% during the forecast period.
Growing Consumption of Sugar Worldwide to Drive Market Growth
In the year 2001, according to the statistics by the International Sugar Organization (ISO), the consumption of sugar touched 123.454 Million tonnes. This grew up to 172.441 Million tonnes by the end of 2018.
The growing consumption of sugar can primarily be attributed to the increasing demand for sugar in the end-user industries. Sugar is largely used in the food and beverage industry for manufacturing different food products. It is also used widely in the pharmaceutical and cosmetic industry. Moreover, the molasses gathered from sugar production is largely used for different end-user activities, such as for producing bio-ethanol. Such factors are therefore anticipated to drive the growth of the global and Asia Pacific cane sugar market during the forecast period.
However, the rising concerns for the side effects associated with the consumption of sugar is expected to operate as key restraint to the growth of global and Asia Pacific cane sugar market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global and Asia Pacific cane sugar market which includes company profiling of Bajaj Hindusthan Sugar Ltd., Guangxi Yangpu Nanhua Sugar Industry Group Co., Ltd., Samora Group Indonesia, Wilmar International Ltd., Mackay Sugar Limited, Kaset Thai International Sugar Corp Public Company Limited, Mitr Phol Group, Perkebunan Nusantara IX, Khon Kaen Sugar Industry PCL, Roxas Holdings, Inc., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global and Asia Pacific cane sugar market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.