$59.1 Billion Industrial Sugar Market - Global Forecast to 2028 with Sudzucker, Cargill, Associated British Foods, Raizen, and Lantic Dominating
DUBLIN, May 26, 2023 /PRNewswire/ -- The "Industrial Sugar Market by Type (White Sugar, Brown Sugar, & Liquid Sugar), Application (Dairy Products, Bakery Products, Confectionery, Beverages, & Pharmaceuticals), Source (Sugarcane & Sugar Beet) and Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The industrial sugar market is projected to reach USD 59.1 billion by 2028 from USD 46.4 billion by 2023, at a CAGR of 5.0%
The demand for industrial sugar is driven by the growth in the food and beverage industry, which accounts for the majority of sugar consumption. The increasing demand for convenience foods and beverages has led to an increase in the use of sugar as a sweetener and preservative. The pharmaceutical and chemical industries also use sugar as a raw material in the production of various products.
Moreover, the industrial sugar market is also influenced by the growing trend toward natural and organic food products, which has increased demand for organic sugar. Additionally, the market for alternative sweeteners, such as high-fructose corn syrup, is also impacting the demand for industrial sugar.
By type, white sugar is projected in high demand during the forecast period.
Several factors, including the growing demand for processed foods and beverages and the increasing use of sugar in the pharmaceutical and personal care industries, drive the global market for white sugar. The market is also influenced by factors such as sugar prices, government regulations, and the availability of raw sugar.
Moreover, the raw sugar undergoes a refining process that removes impurities and produces a granulated, white product that is approximately 99.5% pure sucrose. This refined white sugar is commonly used in the food and beverage industry as a sweetener and in other industrial applications.
By form, the market for granulated industrial sugar is projected in high demand
Granulated sugar is commonly used as a sweetener in a wide variety of food and beverage products, including baked goods, confectionery, soft drinks, and other processed foods. The demand for granulated sugar is steady throughout the year because it is a common ingredient in many food and beverage products.
The granulated sugar market is also influenced by various external factors such as changes in government regulations, weather conditions, and trade policies. For instance, changes in sugar import/export tariffs and quotas can impact the availability and prices of granulated sugar in different regions of the world.
Asia Pacific will significantly contribute towards market growth during the forecast period
The industrial sugar market in the Asia Pacific region has been experiencing steady growth over the past few years. This growth can be attributed to the dominance of domestic food manufacturers, which is driving the adoption of food & beverages industry in the region.
Moreover, the food and beverage industry is the largest consumer of industrial sugar in the region, due to the high demand for sweeteners and other sugar-based ingredients in various food and beverage products. Additionally, the pharmaceutical and personal care industries are also driving the growth of the industrial sugar market in the region, as sugar is widely used in the production of medicines and cosmetic products.
Competitive assessment
In-depth assessment of market shares, growth strategies and service offerings of leading players Sudzucker AG (Germany), Cargill, Inc. (US), Associated British Foods plc (UK), Raizen (Brazil), and Lantic Inc. (Germany)are among others in the industrial sugar market strategies.
Premium Insights
- Increasing Use of Industrial Beet Sugar and Value Addition of Sugar By-Products to Drive Growth of the Industrial Sugar Market
- White Sugar Segment and India Accounted for Significant Market Share in 2022
- Beverages Segment to Account for Largest Market Share by 2028
- White Sugar Segment to Lead Market During Forecast Period
- Granulated Segment to Account for Largest Market Share by 2028
- Sugarcane Segment to Dominate Market During Forecast Period
Market Dynamics
Drivers
- Rise in Global Consumption of Sugar and Growth in International Trade
- Increasing Use of Sugar By-Products in Industries
- Rising Use of Beet Sugar as Raw Material in Beverage Production
Restraints
- Need for Water-Consuming Monoculture Production
- Increasing Popularity of Alternate Sweeteners as Sugar Substitutes
Opportunities
- Growing Need to Explore Potential of Sugarcane Crops Using Energy Optimization
- Increasing Development of the Global Sugar Industry
- Preferential Trade Agreements Governing Sugar Imports
Challenges
- Fluctuations in Price and Availability of Sugar
- High Cost of Producing Sugar
Industry Trends
Value Chain Analysis
- Research & Development and Raw Material Sourcing
- Manufacturing
- Distribution
- End-users
Trends/Disruptions Impacting Customer Businesses
- Revenue Shift and New Revenue Pockets in Industrial Sugar Market
Technological Analysis
- Digitalization
- Genetic Engineering
Case Studies
- Sugarpharm Made Significant Investments to Overcome Supply Chain and Regulatory Challenges
- Cargill Utilized Its Expertise to Improve Technology Used for Manufacturing Natural Sweeteners
Company Profiles
Key Players
- Sudzucker AG
- Cargill, Inc.
- Associated British Foods PLC
- Raizen
- Lantic Inc.
- Mitr Phol Group
- American Crystal Sugar Company
- Louis Dreyfus Company
- Tereos
- Michigan Sugar Company
- Dwarikesh Sugar Industries Limited
- Canal Sugar
- Al Khaleej Sugar
- Rajshree Sugars & Chemicals Limited (Rscl)
- Rana Group
Other Players
- Shree Renuka Sugars
- Upper Ganges Sugar & Industries Limited
- Bajaj Hindusthan Sugar Ltd.
- Nile Sugar
- Bannari Amman Group
- Dhampur Bio Organics Limited
- Dhanraj Sugars Pvt. Ltd.
- Thai Sugar Group
- Mehta Group
- Dalmia Bharat Group
For more information about this report visit https://www.researchandmarkets.com/r/p3wgy
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