Strengthening retail networks, proliferating disposable income levels and soaring merger and acquisition activity are expected to boost the brown sugar market.
HYDERABAD, TELANGANA, INDIA, Sept. 1, 2022 /EINPresswire.com/ — IndustryARC in its latest report predicts the brown sugar market size to reach $26.4 billion by 2027 growing at a CAGR of 7 .9% over the forecast period 2022-2027. Rising demand for bakery and confectionery products, diversification of culinary culture, changing tastes and preferences, appealing tastes, growing demand for organic sugar and increasing disposable income are factors which are expected to drive the growth of the brown sugar market for the period 2022-2027. The report offers a comprehensive analysis of the market, its main segments, growth factors, trends, drivers and challengers, key players and more.
Key points to remember:
1. Geographically, the Asia-Pacific brown sugar market accounted for the highest revenue share in 2021. The growth is driven by high production in countries like Indonesia, China, Vietnam, Thailand, and l India due to factors such as tropical climate, high consumption, and growing demand for confectionery and bakery items.
2. Health benefits such as anti-aging properties and comforting menstrual cramps, multi-cuisine culture due to globalization, skyrocketing demand for confectionery and baked goods, increasing use of personal care products, consumption Growing dairy products as people turn increasingly proactive when it comes to their health, is said to be the major driver for the brown sugar market growth. Adverse climatic conditions and negative impact on production due to pandemic restrictions, growth in transportation costs due to surging crude oil prices would reduce the growth of the market.
3. A detailed analysis of the strengths, weaknesses and opportunities of key players operating in the market will be provided in the Brown Sugar Market report.
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1. The brown sugar market based on nature type can be further segmented into organic and conventional. The conventional segment held the largest share in 2021. Moreover, the organic segment is estimated to be growing fastest with a CAGR of 8.7% over the forecast period 2022-2027. This growth is due to growing consumer awareness regarding health issues related to conventional products which has expanded the demand for organic brown sugar.
2. The brown sugar market based on application can be further segmented into dairy products, sauces, beverages, confectionery & bakery and drugs. The confectionery and bakery segment held the largest share in 2021. The growth is due to the increasing popularity of cakes, chocolates, candies, sweets and desserts among young people as well as adults.
3. Also, estimated to be the fastest growing segment with a CAGR of 8.9% over the forecast period 2022-2027. This growth is due to an increasing demand for brown sugar as a color and flavor enhancer, rising consumer disposable incomes, particularly in low-income countries, a growing trend of offering candy during Festival seasons and rapid urbanization are prominent factors driving the market. .
4. Asia-Pacific held the largest share with 42% of the overall market in 2021. Even though Brazil is the largest sugar producer with more than 38-40 million metric tons of annual production, but in terms of Regarding collective production, Asia-Pacific dominates the market. China, India, Vietnam, Thailand and Indonesia are the main sugar producing countries due to the tropical climate.
Top 5 Players in the Brown Sugar Industry are –
1. Tate & Lyle Sugars
2. ASR Group
3. Cargill Inc.
4. American Crystal Sugar Society
5. Wholesome Sweeteners Inc.
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