Covid-19 Impact on Organic Sugar Market | Industry Growth and Forecast to 2024
Market Insight
Global Covid-19 Impact on Organic Sugar Market has witnessed continued demand during the last few years and is projected to reach USD 1314.53 million at a CAGR of 15.55% by 2024. Diverse application for organic sugar in various industries, majorly in the prepared food & beverages production is likely to drive the global organic sugar market over the forecast period.
Sugarcane crop is increasingly sprayed with harmful pesticides and chemicals during growing stage to protect crops from various pests and weeds. These pesticides can cause severe health issues among consumers. However, organic farming of sugarcane eliminates the risk of harmful pesticides. Hence, lack in use of pesticides is another key factor spiking the demand for organic sugar. Organic sugar retains various nutrients which otherwise are lost during over-processing of conventional sugar. The organic unrefined sugar contains 17 amino acids, 11 minerals (such as sodium, magnesium, and calcium) and many different vitamins. It retains its fructose and glucose along with sucrose, while the processed sugar only contains sucrose and glucose. Therefore, this factor is playing a key role to drive sales of organic sugar.
The market players have increased their level of investment in research to identify right formulation and to improve product functionality in order to capture lion’s share and create brand recognition in organic sugar market.
Major Key Players
The key players profiled in Covid-19 Impact on Organic Sugar Market are DWARIKESH Sugar Industries Limited (India), RAIZEN S.A (Brazil), MITR PHOL Group (Thailand), WANGKANAI Group (Thailand), Shree Renuka Sugars Limited (India), TEREOS INTERNACIONAL (Brazil), COSAN Ltd. (Brazil) and Bunge Limited (Brazil)
Key manufacturers are focusing to enhance its brand name by arranging various promotional activities. The company has participated in various social media promotions, events and interaction with the consumers. The manufacturers have demonstrated their new product offerings in order to attract the new customers. By this strategy the product of the company will be popular among the consumers which will aid to increase the overall profitability of the company. Moreover, the key players are emphasizing in the research & development process in order to introduce new product also to extend the product line. Key players are introducing various new products to increase the volume sales and also to increase the overall revenue of the company.
Global Market Segments
Global Covid-19 Impact on Organic Sugar Market has been divided into Application, and region. On the Basis of Application: Food & Beverages, Pharma and personal care, others. On the Basis of Region: Latin America, Asia Pacific, and Rest of the World
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Regional Analysis
The Global Organic Sugar Market is segmented into Latin America, APAC and Rest of the World (RoW). Latin America is estimated to retain its dominance throughout the forecast period of 2017-2024. Among the Latin American countries, Brazil is accounting for major market share due to the high production of organic sugar. Paraguay is also holding 30% of the market proportion in the Latin America organic sugar market. Also, Paraguay exports the maximum production to USA. Asia Pacific region is also accounting for significant market share in the global organic sugar market in the year of 2017 and it is expected to witness massive growth during the forecast period. Among the Asia Pacific, Thailand is one of the attractive destination among the organic sugar manufacturers. Apart from that, Colombia, and Ecuador collectively account for 80% of the market share in the Rest of the World.
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