PUBLISHER: The Business Research Company | PRODUCT CODE: 1270457
PUBLISHER: The Business Research Company | PRODUCT CODE: 1270457
“Industrial Sugar Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on industrial sugar market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for industrial sugar ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The industrial sugar market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Major players in the industrial sugar market are Cargill Incorporated, Tereos, Nordzucker AG, EID Parry, Sudzucker AG, Louis Dreyfus Company B.V., British Sugar PLC., Shree Renuka Sugars Ltd., Archer Daniels Midland Company, Raizen S.A., Tongaat Hulett Sugar Limited, Cosan SA Industria e Comercio, Mitr Phol Sugar Corporation, Associated British Foods, Wilmar International, American Crystal Sugar Company, Lantic Inc., Michigan Sugar Company, Imperial Sugar Company, Guangxi Guitang Group Co. Ltd., and Rizhao Lingyunhai Sugar Group.
The global industrial sugar market is expected to grow from $43.35 billion in 2022 to $45.53 billion in 2023 at a compound annual growth rate (CAGR) of 5.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The industrial sugar market is expected to grow to $57.17 billion in 2027 at a CAGR of 5.9%.
The industrial sugar market consists of sales of granulated sugar, caster sugar, confectioners sugar, pearl sugar, sanding sugar, cane sugar, demerara sugar, and turbinado sugar. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Industrial sugar is made from sugarcane molasses or sugar beets and goes through a number of process cycles, including extraction, cleaning, crystallization, and drying. Industrial sugar is used as a preservative to prevent the growth of microorganisms and the formation of large ice crystals in frozen products such as ice cream.
Asia-Pacific was the largest region in the industrial sugar market in 2022. The regions covered in the industrial sugar market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of industrial sugar are white sugar, brown sugar, and liquid sugar. White sugar, also known as table sugar, granulated sugar, or regular sugar, is a common type of sugar made from either beet sugar or cane sugar that has been refined and is used in a variety of baked goods, including meringues, mousses, souffles, and fluffy baked goods that require adequate rising. Industrial sugar is derived from various sources including cane and beet in the form of granulated, powder, and syrup, and are used for different applications such as dairy, bakery, confectionery, beverages, frozen foods, and others.
The rise in confectionery products like dairy items is expected to propel the industrial sugar market going forward. Dairy items refer to products primarily made with or containing milk from mammals such as cows. The growth of the worldwide industrial sugar market can be attributed to the increased usage of confectionery in the production of a wide range of beverages and confectionary goods, including cakes, milkshakes, croissants, and hot sugar. For example, in 2021, according to the Food and Agriculture Organization of the United Nations (FAO), an Italy-based international organization and specialized agency, global milk production increased in 2020, with Asia experiencing the greatest volume growth compared to the previous year. The increase in output across all geographical regions helped raise global milk production to approximately 906 million tonnes in 2020, an increase of 2.0% from 2019. In Asia, milk production increased by 2.6% annually to 379 million tonnes in 2020. European milk production increased to 236 million tonnes in 2020, an increase of 1.6% from 2019. Therefore, the rise in confectionery products like dairy items is driving the growth of the industrial sugar market.
Technological innovations have emerged as a key trend gaining popularity in the industrial sugar market. Major companies operating in the industrial sugar market are focused on developing new innovative technologies to strengthen their position in the market. For instance, in March 2022, Cargill, a US-based food corporation and a producer of industrial sugar, introduced the EverSweet + ClearFlo Stevia Platform, a first-of-its-kind stevia-boosting technology. The unique feature of the platform is that it incorporates the company's top sweetener as well as other natural flavors. Due to Cargill's ClearFlo technology, EverSweet, a stevia-based sweetener, serves as a platform for other natural flavors. This mixture can improve flavor, solubility, formulation stability, and dissolution speed. The novel sweetening technique can also help reduce undesirable flavors that may be present in a formulation, such as bitter coffee flavors, earthy protein notes, or metallic tastes from potassium chloride.
In November 2022, US Sugar Corp, a US-based farming company, acquired Imperial Sugar Co from the Louis Dreyfus Co for $315 million. Through this acquisition, US Sugar Corp would like to strengthen their position in the industrial sugar market by combining their presence in sugar cane growing, milling, and cane sugar refining, with the Savannah refining's logistics, Sugarland sales, and customer service operations. Imperial Sugar is a US-based industrial sugar producer and marketer.
The countries covered in the industrial sugar market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The industrial sugar market research report is one of a series of new reports from The Business Research Company that provides industrial sugar market statistics, including global market size, regional shares, competitors with a share of the industrial sugar market, detailed industrial sugar market segments, market trends and opportunities, and any further data you may need to thrive in the industrial sugar industry. This industrial sugar market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.