New York, July 29, 2020 (GLOBE NEWSWIRE) – According to current analysis of reports and data, the Global Industrial sugar market is expected to reach USD 45.6 billion by 2027, in terms of value at a CAGR of 6.5% from 2020-2027. Industrial sugar is a thriving commodity around the world which is driving the market. An increase in the usual international prices and the rise of the international sugar trade translates into a growing demand for industrial sugar. In addition, the progress is mainly complemented by the increase in population and the increasing consumption of sweet products. The growth of confectionery products, especially bakery products, results in a greater use of industrial sugar in the market. Nevertheless, certain limitations like water consumption due to the production of industrial sugar monoculture are a major constraint for the industrial sugar market worldwide. Additionally, the sudden impact of the COVID-19 pandemic will hamper growth by halting production and disrupting the supply chain.
The pressure on industrial sugar prices and increasing sugar production costs are significant challenges for the growth of the industrial sugar market.
According to the FAO, world sugar prices are expected to remain low in the short term before increasing moderately in the following years. By 2025, they will be higher than in 2018. The nominal world price for raw sugar is forecast at 342 USD / t and at 425 USD / t for white sugar in 2025. in Sudan and Myanmar, is expected to undergo a squeeze in 2018, as the removal of the EU sugar quota allows more white sugar to be exported to the world market. The resulting downward pressure on prices will cause producers to turn to exporting more raw sugar than white sugar, which in turn will stabilize the premium towards the end of the period (83 USD / t against 85 USD / t in 2018).
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Other key findings from the report suggest
- Sugar cane is predicted to account for around 86% of sugar production by 2027. However, some expansion of sugar beet production is expected in Ukraine, Egypt, Russian Federation and the EU more abolition of quotas in 2017. For sugar beet and sugar cane production, most of the increases are expected to come from higher yields and area expansion, and, in the EU, from longer of the beet slicing period.
- Sugar production in South Africa is expected to increase by 4.5% per year through 2027 due to a sustained increase in production capacity at the field and processing level, mainly in sub-Saharan lands.
- Australia is an export-oriented country that will benefit from recent efforts by milling groups to increase cane plantations and sugar yields and a supposedly weak Australian dollar against the US dollar. With regular weather conditions, its sugar production is expected to increase by 1.7% per year to reach 5.8 Mt by 2025.
- Depending on the type, brown sugar is expected to grow at the fastest CAGR of 7.5%. The demand for beverages has grown due to increasing demand from metropolitan areas, where sugary drinks are becoming more popular. It is expected to remain a key driver for the brown sugar market for years to come.
- Granulated industrial sugar occupied the lion’s share of 41.2% in 2019, due to its increased demand. It is the most regularly used sugar in cooking for most varieties of cooking. The increasing use and continued growth of the population are leading to an increase in demand for crystallized sugar in the market. It also has essential properties, including moisture, flavor and color, in bakery and confectionery products, leading to an increase in its production and boosting the growth of the industry.
- Key companies in the industrial sugar market are Illovo Sugar (Pty) Ltd, Tereos, Nordzucker Group AG, Cargill, EID Parry Limited, Archer Daniels Midland Company, Sudzucker, AG and Raizen SA.
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Market segmentation :
This report forecasts revenue growth at the global, regional, and country level, and provides analysis of industry trends in each of the sub-segments from 2017 to 2027. For this study, reports and data segment the Sugar market industrial by type, source, form, application and region.
Type Outlook (Revenue, Million USD; 2017-2027)
- White sugar
- brown sugar
- Liquid sugar
Source Outlook (Revenue, Million USD; 2017-2027)
Outlook Form (Revenue, Million USD; 2017-2027)
Application Outlook (Revenue, USD Million; 2017-2027)
- Pastry shop
- Canned and frozen foods
- Other food products
Source Outlook (Revenue, Million USD; 2017-2027)
To identify key industry trends, click on the link below: https://www.reportsanddata.com/report-detail/industrial-sugar-market
Regional Outlook (Revenue, USD Million; 2017-2027)
- North America
- The rest of europe
- Asia Pacific
- Rest of Asia-Pacific
- Latin America
- Middle East and Africa
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