Industrial Sugar Market to Reach USD 46.56 Billion by 2029

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Pune, India, May 05, 2022 (GLOBE NEWSWIRE) — The world industrial sugar market the size was $37.62 billion in 2021. The market is expected to grow from $38.58 billion in 2022 at $46.56 billion by 2029, posting a CAGR of 2.72% during the forecast period 2022-2029. This information is published by Fortune Business Insightsin his report, titledIndustrial Sugar Market, 2022-2029.”

Impacts of COVID-19:

Deteriorating demand amid COVID-19 has negatively impacted market growth

Sugar demand has been heavily affected during the COVID-19 pandemic due to evolving consumer health concerns. In addition, nationwide shutdowns and constraints on ingredient sourcing from food processing companies have significantly influenced sugar consumption in 2020. The cost of industrial sugar has also decreased drastically due to lower demand, which in turn deteriorated the market value.

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List of key players mentioned in the report:

  • Suedzucker AG (Germany)
  • Tereos SA (France)
  • Cosan (Brazil)
  • Related British Foods (UK)
  • Mitr Phol Group (Thailand)
  • Cargill, Inc. (USA)
  • Imperial Sugar Company (USA)
  • Sugar Rogers, Inc. (Canada)
  • American Crystal Sugar Company (USA)
  • Louis Dreyfus Holding BV (Netherlands)

Report cover:

We provide our reports which are conducted with a comprehensive review approach that mainly focuses on providing accurate material. Our researchers have applied a data triangulation method which further helps us to come up with reliable estimates and accurately test the overall market dynamics. Additionally, our analysts have been admitted to numerous international and regional funded registries to provide up-to-date material so that stakeholders and professionals only invest in critical areas.

Report cover Details
Forecast period 2022 to 2029
Forecast Period 2022 to 2029 CAGR 2.72%
2029 value projection $46.56 billion
Year of reference 2021
Market size in 2021 $37.62 billion
Historical data for 2018 to 2020
Number of pages 150
Segments Covered By type, by application
Growth engines Increase in the use of processed foods and beverages to support market growth
Rising demand for sweet confectionery is further propelling the market growth
Falling Demand During Market Growth Affected Negatively by Pandemic
Pitfalls and Challenges Growing knowledge regarding adverse health effects of high consumption of sweets among consumers to hamper market growth

Segmentation:

Cane sugar will dominate the market due to its increased production worldwide

Based on source, the market is segmented into cane and beet sugar. Sugar cane should be the main crop used for sugar production. Sugar beet is grown conventionally in areas with a temperate climate. Beet molasses and beet sugar are widely used to produce a variety of products, including foods, beverages, pharmaceuticals, chemicals, and textiles.

The white sugar segment will maintain its global dominance thanks to its varied applications

Based on type, the market is segmented into white, brown, and liquid sugar.

White sugar is widely used in the food manufacturing and baking industries. The fine granules detected in this product are ideal for cooking and baking. It is also the most commonly purchased type of sugar and is used in domestic kitchens, bakeries, cafes, restaurants and food processing units. Granulated, icing, pouring, and jam are some of the few popular subcategories of white sugar.

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Confectionery segment holds a large share attributed to their larger ingestion

Based on end-use segment, the market is segmented into beverage, confectionery, bakery, dairy, and other food applications. Confectionery holds the largest share of revenue due to its greater usage in the world. The beverage segment is expected to grow at the highest CAGR over the mentioned period owing to the growing trend for healthy hydration in the established markets. It is estimated that the growing demand for bakery products in the Eastern markets will continue to navigate the growth of the industrial sugar market in the coming years.

By geography, the global market is classified into North America, Europe, Asia-Pacific, South America, Middle East & Africa.

Drivers and Restrictions:

Rising demand for sugar confectionery is accelerating market growth

Rising demand for confectionery, especially in emerging Asia-Pacific and Middle East markets, is further encouraging the growth of the market. Many innovative confectionery assortments are proving to be popular among millennials and children in countries like China, India, and Indonesia. In economies such as Japan, China, and Singapore, high-end confections are considered high-quality products to gift to each other. This in turn stimulated the demand for sugar confectionery.

The increasing occurrence of lifestyle related health problems such as obesity and diabetes related to excessive sugar consumption is having a significant influence on the industrial sugar sector.

Regional outlook:

Asia-Pacific will hold a dominant share of the market due to increased demand for confectionery products

Asia-Pacific accounts for the largest industrial sugar market share in the world. The market is witnessing tremendous growth, primarily driven by increased demand for high-sugar confectionery products and soft drinks, primarily in urban areas.

Sugar intake has been found to be decreasing in North American countries such as the United States and Canada due to the increasing demand for sugar-free and reduced-sugar products.

Likewise, market growth in European countries such as UK and Germany has been seen to be strong owing to the growing knowledge of adverse health effects of industrial use of sugar among users.

Competitive Landscape:

Collaborations between companies to protect their brand values ​​in the global market

The fundamental market players are constantly looking for effective concepts to endorse their products and inaugurate their positions on the market. One such strategy is to unveil new products by forming a coalition with other companies to extend their reach to end users.

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Detailed Table of Contents:

  • Introduction
    • Search scope
    • Market segmentation
    • Research Methodology
    • Definitions and assumptions
  • Summary
  • Market dynamics
    • Market factors
    • Market constraints
    • Market opportunities
  • key ideas
    • Overview of parent/related markets
    • Supply chain analysis
    • Industry SWOT Analysis
    • Recent Industry Developments – Policies, Partnerships, New Product Launches and Mergers & Acquisitions
    • Impact of COVID on Industrial Sugar Market Supply Chain

TOC Continued…!

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Notable industry development:

January 2022: DouxMatok, an Israeli food technology company, has partnered with Blommer Chocolate Company, an ingredient maker to make low-sugar chocolate. The first product from this collaboration is chocolate flavored chips made from DouxMatok’s Incredo sugar.

Read related information:

white sugar market Size, Share and Industry Analysis, by Type (Granulated Sugar, Granulated Sugar), by Distribution Channel (Supermarkets/Hypermarkets, Retail Stores, Online Retail) and Regional Forecast 2022-2029

Liquid sugar market Size, Share and Industry Analysis, By Source (Cane, Beet), By Form (Organic, Conventional), By Application (Confectionery, Bakery, Beverages, Others) and Regional Forecast 2022-2029

High Intensity Sweeteners Market Size, Share and Industry Analysis, by Product Type (Saccharin, Stevia, Aspartame, Neotame, Sucralose, Acesulfame Potassium, Advantame), by Application (Bakery, Confectionery, Processed Fruit Products, Dairy Products) , ready-to-drink (RTD) beverages), by distribution channel (mass merchandisers, convenience stores, specialty stores) and regional forecast, 2022-2029

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