cane sugar market
The global cane sugar market is expected to grow at a CAGR of 4.6% and is expected to reach a valuation of approximately USD 83.8 billion by 2032.
Sugar is necessary for tasty and enjoyable food. However, its consumption can lead to weight gain, obesity, diabetes and cholesterol problems. Cane sugar is used to combat this by decreasing the sweetness of the food while imparting a distinct flavor.
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Shopping habits changed dramatically during and after the epidemic. Nowadays, people are looking for healthier, less processed and raw types of sugar, such as brown and organic, to lessen the harmful effects of sugar consumption on the body. Organic sugar is gaining popularity with customers as it is considered healthier and safer than regular sugar. This has changed the outlook for the cane sugar market.
To meet consumer demand, major sugar producers are working to create new types. Growing concerns about lifestyle-related health issues, including obesity, cardiovascular disease, and diabetes, are expected to further increase demand for healthier sugar variations.
However, the development of better sugar substitutes such as coconut sugar and stevia, as well as regulations imposed by regulators and health organizations due to its negative health effects, such as the recommendation of the American Heart Association to limit added sugar intake to less than 6 teaspoons (24 grams) per day for women and less than 9 teaspoons (36 grams) per day for men, has shifted the preferences of consumers towards artificial sweeteners and shift consumer preferences towards artificial sweeteners. This is one of the biggest constraints in the cane sugar market.
To combat this, executives at the sugar cane company will need to manage multiple priorities as they move from pandemic response to recovery and the way forward: monitoring shifting consumer preferences. , recognize micro-pockets of growth to prioritize in future plans, adjust business strategies and become more flexible to stay ahead.
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Key insights from market research
The cane sugar market is segmented on the basis of product type; wherein liquid sugar is expected to account for around 21.7% of the market share during the forecast period.
The North American cane sugar market is expected to witness a lucrative growth rate of 5.6% during the forecast period.
East Asia would account for 25.8% of global cane sugar adoption through 2032.
The application of cane sugar in the baking industry is expected to hold a market share of over 23.5% during the forecast period
“For the advancement of their business, leading manufacturers opt for strong tactics. They place a lot of emphasis on branding and product positioning. They exploit consumer delight as a feasible approach to increase their influence. These are the factors driving the cane sugar market forward,” says an analyst from Future Market Insights.
Joint ventures, mergers and acquisitions, and other strategic initiatives are continuously pursued by players in the cane sugar market. Large companies in fast-growing countries like East Asia and South Asia are also trying to diversify their product lines to gain a competitive advantage over their competitors.
Due to huge long-term behavioral shifts among consumers, categories, and channels, the problem of anticipating customer needs, as well as evaluating and managing innovation to meet those needs , is likely to become much more difficult in the post-pandemic period. era of the cane sugar market.
Consumers are prioritizing needs, looking for larger quantities, shelf-stable and easy-to-prepare products, as well as higher value products. They are turning to online and direct-to-consumer methods for their purchases. Consumer attitudes and available money increasingly favor companies that represent trust, safety, health and value. This can be corroborated by the few recent developments in the cane market.
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DCM Shriram Ltd has announced an investment of around INR 350 crore in sugar mill capacity expansion in November 2021. The company has approved three investment proposals for the sugar business including the expansion of the capacity of production of refined sugar based on market choice and increased feedstock flexibility for its distilleries, capitalizing on the increased availability of cane sugar in its watershed.
EID-Parry (India) said in September 2021 that at its factory in Sankili in Andhra Pradesh it would build a grain/sugar syrup/molasses based distillery with a capacity of 120 kilo liters per day (KLPD) .
Explore more valuable insights
Future Market Insights in its new report offers an unbiased analysis of the global cane sugar market, presenting historical data (2017-2021) and estimation statistics for the forecast period 2022-2032.
The study offers compelling insights based on the Cane Sugar Market by Product Type (Liquid Sugar, Powdered Sugar, Textured Granulated Sugar, Flavored Granulated Sugar, Colored Granulated Sugar, Pulp, Others), by Nature (Organic and Conventional ), by application (dairy, bakery, confectionery, beverages, canned and frozen foods, pharmaceuticals, other food products) and region in seven major regions of the world.
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Explore other food and beverage reports:
Sugar Toppings Market: https://www.futuremarketinsights.com/reports/sugar-toppings-market
Sugar Free Cookies Market: https://www.futuremarketinsights.com/reports/sugar-free-cookies-market
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Future Market Insights (ESOMAR certified market research organization and member of the Greater New York Chamber of Commerce) provides in-depth insights into the driving factors that increase demand in the market. It reveals opportunities that will drive market growth in various segments on the basis of source, application, sales channel, and end-use over the next 10 years.
This press release was published on openPR.