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The industrial sugar market size is projected to increase by USD 12.46 billion, at a CAGR of 4.91% between 2023 and 2028.
The APAC region significantly influences the global industrial sugar market share, driven by a rapidly growing population and increasing demand for sweeteners and confectioneries. Key contributors, including India, China, Thailand, Indonesia, and Australia, play pivotal roles in the sugar industry. With a burgeoning population and rapid urbanization, the region experiences substantial demand for industrial sugar, primarily from the food and beverage industry. AGRANA BEteilgungs AG is a key player, offering industrial sugar like Wiener crystal sugar for the beverage and chemical industry. The market is poised for growth, aligning with current trends and forecasts, benefiting both consumers and the industry.
The Industrial Sugar Market shows an Accelerate CAGR during the forecast period.
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The rise in demand for raw sugar in food and beverage applications is notably driving the market growth. The demand for raw sugar has been on the rise due to the increasing popularity of sweetened products and beverages, which drives significant growth of the global industrial sugar market. Consumers have a growing preference for sugary drinks and food items, leading to a surge in demand for raw sugar. Raw sugar is a popular ingredient in the manufacturing of sweetened products and beverages. It is derived from sugarcane, a crop that is grown in many parts of the world. The sugarcane is processed to extract sugar, which is then used in the production of sweetened products and beverages.
Moreover, fast foods such as burgers, pizzas, and sandwiches also depend on raw sugar as a key ingredient in the food service industry. These foods are popular among consumers owing to their taste, convenience, and affordability. In addition to its wide application in the food and beverage industry, raw sugar is also used in the pharmaceutical industry. Here, raw sugar is used to improve the taste of some medications, especially those that are meant for children, making it easier for them to take. Thus, the abovementioned factors are expected to drive the growth of the market during the forecast period.
The rise in the adoption of raw sugar in beauty products is an emerging trend shaping market growth. Raw sugar has been gaining popularity in the cosmetics industry due to its numerous benefits for the skin and hair, which drives the growth of the global industrial sugar market. Raw sugar contains natural glycolic acid, an alpha hydroxy acid (AHA) that is commonly used in chemical peels and anti-aging treatments. Raw sugar can also help combat dandruff, as its antibacterial properties help soothe the scalp and reduce flakiness. As consumers become more conscious of the ingredients in their beauty products, the demand for natural and organic options has increased.
However, raw sugar products are also often cruelty-free and eco-friendly, making them a popular choice among those who value sustainability and ethical sourcing. Thus, the abovementioned factors are expected to fuel the growth of raw sugar sales, which in turn will boost the growth of the global industrial sugar market during the forecast period.
Stringent regulations on the production, processing, and sales of raw sugar are a significant challenge hindering market growth. To protect the health and safety of consumers, industrial sugar, which is made from raw sugar, is produced under strict rules and regulations. Further, the import of raw sugar is also subjected to stringent regulations. In the US, the Food and Drug Administration (FDA) has established specific standards for the sugar that is imported into the country to ensure that it meets the same safety requirements as domestically produced sugar. The US FDA also conducts regular inspections to ensure that the imported sugar is safe for consumption.
Furthermore, government agencies responsible for the enforcement of food safety regulations have the authority to take enforcement measures against any producer or manufacturer violating the safety standards. These can issue fines or even shut down the operations of sugar producers who do not comply with the regulations. Thus, the abovementioned factors are expected to hamper the growth of the global industrial sugar market during the forecast period.
White sugar, a prominent product in the global industrial sugar market, is available in various types, distinguished by crystal size, purity, and processing methods. Granulated white sugar, the most common type, is produced from either sugar cane or sugar beets. It undergoes extensive refining processes to remove impurities, resulting in fine, free-flowing crystals. This sugar variety is versatile and widely used in baking, beverages, and general cooking. The most widely used sugar grades are subsequently dried and screened. Granulated sugar has a minimum sucrose content of 99.85% and is white. Depending on the market, this product may be known as extra fine-granulated sugar or fine-granulated sugar. This is used for medicines, confections, gum, pickles, dairy products, jams, jellies, meats, cereals, liquid and powdered sugar, candies, and powdered drink mixes. Thus, the growth of the white sugar segment will boost the growth of the market during the forecast period.
The market share growth by the sugarcane segment will be significant during the forecast period. Sugar cane, a vital source for the global industrial sugar market, is a tall tropical grass primarily cultivated in regions with suitable climates, such as Latin America, the Caribbean, Asia-Pacific, and parts of Africa. It serves as a primary source for producing sugar due to its high sucrose content. The process of harvesting and refining sugar cane involves several stages.
The sugar cane segment was the largest and was valued at USD 29.63 billion in 2018.
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Further, the agricultural commodity significantly contributes to the global industrial sugar market, supplying a substantial portion of the global demand for sugar used in food and beverage production, confectionery, pharmaceuticals, and various other industrial applications. Furthermore, technological and agricultural developments keep improving the productivity and efficiency of sugar cane, which affects the dynamics of the global industrial sugar market. Thus, such factors will boost the growth of the sugarcane segment, which in turn will boost the growth of the global industrial sugar market during the forecast period.
APAC is estimated to contribute 43% to the growth of the global market during the forecast period
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Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. With a rapidly growing population and increasing demand for sweeteners and confectioneries, APAC is a major region for the consumption of industrial sugar globally. Countries such as India, China, Thailand, Indonesia, and Australia are pivotal contributors to the Sugar industry. With a burgeoning population and rapid urbanization, the region witnesses substantial demand for industrial sugar across various sectors. Government policies and regulations, particularly in countries such as India and Thailand, significantly impact market dynamics. Challenges, including price fluctuations, weather-induced crop yield variations, and growing concerns regarding excessive sugar consumption, pose obstacles to market growth.
Despite these challenges, the APAC industrial sugar market continues to witness growth owing to its diverse applications and the presence of multinational companies alongside local players catering to the escalating demand. Furthermore, rising market trends and analysis toward sugar alternatives and increased health consciousness among consumers are driving forces that will boost the growth of the regional industrial sugar market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market forecasting growth and analysis.
The Industrial Sugar Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 10 market companies, including AGRANA BEteilgungs AG, American Crystal Sugar Co., Archer Daniels Midland Co., Associated British Foods Plc, Balrampur Chini Mills Ltd., Cargill Inc., COSAN S.A., Dalmia Bharat Sugar and Industries Ltd., EID Parry India Ltd., Louis Dreyfus Co. BV, Michigan Sugar Co., Mitr Phol Group, Nordzucker AG, Rogers Sugar Inc., Shree Renuka Sugars Ltd., Sudzucker AG, Tate and Lyle PLC, Tereos Participations, Triveni Engineering and Industries Ltd., and Wilmar International Ltd.
Industrial Sugar Market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The industrial sugar market research report forecasts market research and growth by revenue at global, regional & country levels and provides an analysis of the latest market trends and growth opportunities from 2018 to 2027.
Industrial Sugar Market Scope |
|
Report Coverage |
Details |
Page number |
158 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.91% |
Market Growth 2024-2028 |
USD 12.46 billion |
Market structure |
USD Fragmented |
YoY growth 2023-2024(%) |
4.71 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 43% |
Key countries |
US, India, China, France, and Brazil |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AGRANA BEteilgungs AG, American Crystal Sugar Co., Archer Daniels Midland Co., Associated British Foods Plc, Balrampur Chini Mills Ltd., Cargill Inc., COSAN S.A., Dalmia Bharat Sugar and Industries Ltd., EID Parry India Ltd., Louis Dreyfus Co. BV, Michigan Sugar Co., Mitr Phol Group, Nordzucker AG, Rogers Sugar Inc., Shree Renuka Sugars Ltd., Sudzucker AG, Tate and Lyle PLC, Tereos Participations, Triveni Engineering and Industries Ltd., and Wilmar International Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Source
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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