The Global Industrial Sugar market is anticipated to grow at 6.01% CAGR from 2017 to 2022 and it is estimated that the global market was valued at USD 39.52 billion in 2017 and is expected to reach USD 52.91 billion by 2022.
Sugar is one of the most important commodities worldwide, as it is widely consumed in a variety of different foodstuffs. Sugar is considered as one of the most important commodities and is produced and consumed around the world, of which around 70% of production is consumed in domestic markets and only 30% is traded in the international markets.
The market is driven by factors such as rise in average international prices and importance of international trade, value addition of products from sugar cane by focusing on emerging by-products through integrated sugar complexes, expanding sugar crop production, growth in the industrial beet sugar market, consumption of packed food & beverage items, and the usage of sugar in healthy products such as low-calorie bakery and confectionery products.
Bet that as it may, alternate sweeteners and water consuming monoculture production of industrial sugar are the major restraints of the industrial sugar market as this requires a lot of space for production of sugar, resulting in the destruction of natural rainforests, mangroves, and reduction in the areas of polyculture production.
The global Industrial Sugar market is segmented on the basis of Type, Form, Application, and Source. On the basis of type, the market is segmented into White, Brown, and Liquid. Factors such as rising demand for confectionery products, growing retail market, and expansion of product portfolio are driving the demand for industrial sugar globally. Changing consumer preferences about different products has led to an upsurge in the consumption of different food and beverage products globally. On the basis of Form, the market is segmented into Granulated, Powdered and Syrup. the granulated form is the most extensive type of industrial sugar used globally. This crystallized form of sugar is also used as a preservative for different end-use applications such as candied fruits, jams, and marmalades; thereby, increasing its functionality and driving its consumption.
On the basis of Application, the market is segmented into Dairy, Bakery, Confectionery, Beverage, Canned & Frozen Foods, Other Food Items & Pharmaceuticals. Confectionery is the largest and fastest growing segment during the forecast period due to its use in a wide variety of applications and consumption of confectionery products such as marmalade, chewing gum, sweets, candied nuts, chocolates, and chewing gum. The growing population and technological advancements in developing economies are expected to contribute extensively towards the growth of the global industrial sugar market. On the basis of Source, the market is segmented Cane Sugar and Beet Sugar. Sugarcane production is higher than sugar beet production, globally, as all the major developing countries are involved in the manufacturing of cane sugar.
Based on geography, the Industrial Sugar market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East and Africa. Asia Pacific held the largest share of the market and is expected to grow at the highest rate. The growth in food consumption has been propelled by rapid urbanization and increased disposable incomes accompanied by a significant structural and dietary shift from staples to packed food items in the developing economies. India is one of the largest consumers of industrialized sugar and is projected to grow over a period of time as compared to other regions India and China are the largest producer of sugar in this region. Brazil is the largest producer of sugar worldwide. Higher industrial sugar production in this region is attributed to the tropical climate favorable for sugarcane crop production.
The market is dominated by companies like Cargill Incorporated, Archer Daniel Midland, Raizen SA, Sudzucker AG, Tereos, Nordzucker Group AG, Tongaat Hulett Group, Illovo Sugar (Pty) Ltd, Dangote Group, and E.I.D Parry Limit