Global Sugar Market by Product Type, Form, Source, End User

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Global Sugar Market by Product Type, Form, Source, End User 2022-2027

The global sugar market reached a volume of 185 million tons in 2021. Looking ahead, IMARC Group expects the market to reach 206.6 million tons by 2027, showing a CAGR of 1 .8% in 2022-2027.

Impact of Covid-19:

We regularly monitor the direct effect of COVID-19 on the market, as well as the indirect influence of associated industries. These observations will be incorporated into the report.

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Sugar refers to a sweet crystalline substance extracted from sugar cane or sugar beets. It is used as a flavoring agent that imparts a sweet taste to a wide range of food preparations. It is used in the food industry as a preservative that prevents decomposition of the food product by microbial growth or unwanted chemical changes. Apart from that, it is used to aid the fermentation process and retain moisture in various dishes. The high carbohydrate and calorie concentration of sugar provides energy to the human body. Therefore, it is used in the preparation of sweets, cookies, soft drinks, dairy products, milk products and other baked goods.

List of major key players:

The main market players are

Sudzucker SA,
Tereos S.A.,
Cosan S.A.,
Mitr Phol Sugar Corporation., Ltd.,
Associated British Foods plc,
NORDZUCKER AG,
Biosev (Louis-Dreyfus BV Company),
Wilmar Group
The Thai Roong Ruang Group of Companies.

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Market Trends and Drivers:

The global market is mainly driven by the significant growth in the food and beverage industry. Sugar is an indispensable ingredient in this industry, due to its diverse applications. Busy work schedules, inflation in disposable income levels and changing eating habits of the masses have contributed to sales of ready-to-eat foods, which typically contain a high amount of sugar as a key ingredient. Moreover, rapid urbanization and globalization have led various international players to expand their chains into developing economies. This coupled with the growing preference for online food delivery services is giving impetus to the growth of the market.

Sugar also finds applications in the pharmaceutical industry for the preparation of antibiotics and syrup-based medicines. With this in mind, the growing prevalence of chronic and lifestyle-related diseases is driving the growth of the pharmaceutical industry, making it easier to absorb sugar. Moreover, it is also used in the preparation of scrubs in the skin care industry, due to its exfoliating properties.

Besides, organic cane sugar is also gaining popularity among consumers. Favorable regulatory policies regarding sugar production, easy availability through various distribution channels, and abundance of raw materials are some of the other factors contributing to the growth of the market.

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Main highlights of the report:
• Market performance (2016-2021)
• Market Outlook (2022-2027)
• Porter’s five forces analysis
• Market drivers and success factors
• SWOT analysis
• Value chain
• Complete mapping of the competitive landscape

If you need specific information that is not currently covered in the report, we can provide it to you as part of the customization.

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