The global industrial sugar market is expected to grow at a moderate CAGR over the forecast period, i.e., 2021-2029, on the back of the increasing demand for industrial sugar for applications in bakery, confectionary and dairy among others, followed by the rising trends of packaged food, growing demand for sweeteners in the manufacturing of food products, and the growing importance of sugar in international trade. According to the International Sugar Organization, the global sugar consumption increased from 123.454 million tonnes to 172.41 million tonnes in 2001 to 2018. Along with these, the surge in the production of food products in the food & beverage industry is also estimated to drive the market growth. In accordance with our analysis, the food & beverages industry’s revenue is estimated to grow by more than 15% by the end of 2022.
The market is segmented on the basis of type into white sugar, brown sugar, and liquid. Out of these, the white sugar segment is anticipated to occupy the largest share in 2021 owing to the abundant use of this type of sugar all over the world. In addition to that, based on source, the cane sugar segment is projected to grow at the highest rate during the forecast period. This can be attributed to the high production of sugarcane, especially in developing nations. For instance, India and Brazil are two of the largest producers of sugar worldwide, with each country producing more than 29 million metric tonnes of sugar in the year 2019. CLICK TO DOWNLOAD SAMPLE REPORT
On the basis of regional analysis, the industrial sugar market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Among the market in these regions, majority of the market share in 2021 is expected to be led by the Asia Pacific region, owing to the high consumption of sugar in numerous end user industries. India is a very significant market for industrial sugar mainly attributable to the large-scale production of sugarcane and mass consumption of sugar in the country. As per our analysis, more than 375 million tonnes of sugar cane were produced in India during 2019 – 2020. Apart from this, rapid urbanization has given rise to the growth of various foods and beverages based industries in the region.
On the other hand, the Latin American region is one of the top producers of industrial sugar and contributed to a significant portion of the industrial sugar market. Favorable climatic conditions play an important role in the production of industrial sugar and therefore this region is expected to be the second most significant contributor to the market.
The global industrial sugar market is further classified on the basis of region as follows:
Our in-depth analysis of the global industrial sugar market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Increasing production of sugarcane and sugar beet is the major factor driving market growth.
The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2021 – 2029.
Health concerns associated with high sugar consumption and rising demand for sugar-based alternatives are estimated to hamper the market growth.
Asia Pacific will provide more business opportunities on the back of high consumption of sugar.
The major players in the market are Cargill, Incorporated, Nordzucker AG, E.I.D. Parry (India) Limited, The Tereos Group, and others.
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.
The market is segmented by type, form, application, source, and by region.
The white sugar segment is anticipated to hold the largest market size and is estimated to grow at a noteworthy CAGR over the forecast period and display significant growth opportunities.
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