Global and Asia Pacific Cane Sugar Market Segmentation by Type {Crystallized Sugar (Single Crystallized Sugar, and Double Crystallized Sugar), and Non-Crystallized Sugar} – Demand Analysis & Opportunity Outlook 2017-2030
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In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
March 3rd, 2020: Mitr Phol Corporation announced that it has come into an agreement with Olam International for acquiring the remaining stake of 50% in its Indonesian sugar joint venture, Far East Agri, for a consideration amount between USD 82.5 Million and USD 85 Million.
The global cane sugar market is estimated to garner a revenue of USD 252764.11 Million by the end of 2030 by growing with a CAGR of 1.27% over the forecast period, i.e., 2021 – 2030. Moreover, in the year 2017, the market garnered a revenue of USD 211788.91 Million. The growth of the market can primarily be attributed to growing demand for cane sugar worldwide. Cane sugar is used widely for different industrial purposes. Apart from its utilization as sugar, cane sugar is also used as a source of energy and fuel. It is also used as a raw feed for various materials. Sugar crystals are also widely utilized in food and beverages industry for making different food products. It is also a preferred choice in the pharmaceutical, and cosmetic industries. According to the statistics by the International Sugar Organization (ISO), sugar consumption around the world touched 172.441 Million tonnes by the end of 2018, up from 123.454 Million tonnes in 2001. The statistics also stated that globally, the trade on sugar averaged around 64 Million tonnes/year. In addition, the rising production of sugar cane worldwide, and the increasing exports of the product is also anticipated to drive the market growth in the coming years. Besides this, the growing focus of the government of nations to raise the crop output is also expected to create numerous opportunities for market growth.
The cane sugar market in the Asia Pacific (excluding South East Asia) is projected to garner a revenue of USD 88303.00 Million by the end of 2030, up from a revenue of USD 68037.91 Million in the year 2017. The growth of the market in the region can be attributed to the presence of several nations in the region, who are also the leading exporters of sugar around the globe. In other statistics by the ISO, India recorded to be the largest producers of cane sugar around the globe in the year 2019 by recording a production volume of 29.66 Million metric tonnes. China, Pakistan, and Australia held the 4th, 6th and 7th position respectively. The market in the region is segmented by country into China, India, Japan, Pakistan, Australia, and the Rest of Asia Pacific. Out of the market in these countries, the market in China is anticipated to garner the largest revenue of USD 43968.31 Million by the end of 2030, by growing with a CAGR of 1.45% during the forecast period. In the year 2017, the market in the country garnered a value of USD 37130.50 Million.
The global and Asia Pacific cane sugar market is segmented by type into crystallized and non-crystallized sugar. Out of these segments, the crystallized sugar segment is anticipated to hold the highest market share globally during the forecast period and further attain the largest revenue of USD 205671.13 Million by the end of 2021. The segment is also anticipated to grow with the highest CAGR of 1.32% during the forecast period. The crystallized sugar segment is further divided into single and doubled crystallized sugar, out of which, the double crystallized sugar segment is anticipated to hold the highest market share during the forecast period. The single crystallized sugar segment, on the other hand, is expected to grow with the highest CAGR of 2.85% during the forecast period. The non-crystallized segment, on the other hand, is anticipated to grow with a CAGR of 0.76% during the forecast period.
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global and Asia Pacific cane sugar market that are included in our report are 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.
Ans: The rising demand for cane sugar globally is one of the major factors anticipated to drive the growth of the market in the coming years.
Ans: The market is anticipated to attain a CAGR of 1.27% over the forecast period, i.e., 2021-2030.
Ans: The rising concerns for the side effects associated with the consumption of sugar is one of the major factors estimated to hamper the market growth.
Ans: The major players in the market are Bajaj Hindusthan Sugar Ltd., Guangxi Yangpu Nanhua Sugar Industry Group Co., Ltd., Samora Group Indonesia, Wilmar International Ltd., Mackay Sugar Limited, and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by type, and by region.
Ans: The crystallized sugar segment is also anticipated to grow with the highest CAGR of 1.32% during the forecast period and display significant growth opportunities.
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