Industrial Sugar Market Brief Overview by Market data Forecast
Industrial Sugar Market Size and Market Growth:
Industrial Sugar market is anticipated to grow at 6.01% CAGR from 2018 to 2023 and it is estimated that the global market was valued at USD 41.9 billion in 2018 and is expected to reach USD 56.1 billion by 2023.
Industrial Sugar Market Overview:
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.
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Industrial Sugar Market Drivers and Restraints:
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.
Report segmented as
By Form:
- Granulated
- Powdered
- Syrup
By Type:
- White
- Brown
- Liquid
By Application:
- Dairy
- Bakery
- Confectionery
- Beverage
- Canned & Frozen Foods
- Other Food Items & Pharmaceuticals
By Source:
- Cane Sugar
- Beet Sugar
Industrial Sugar Market Geographical Analysis:
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.
Industrial Sugar Market Key Players:
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 Limited.
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The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
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