NEW YORK, Dec. 17, 2019 /PRNewswire/ -- The Global Powdered Sugar Market is expected to reach $7,529.1 Million by 2025, growing at a CAGR of 4.5% during 2019 -2025. Powdered sugar, also called icing sugar, is majorly used in the confectionery and baking applications. Powdered sugar, starch, and anti-caking agent are the composition of icing sugar. For icing sugar, the anti-caking agent is especially important for the complex designs crafted by foodservice providers.
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Powdered sugar is used to flavor a number of bakery items and confectioneries and is therefore available in different forms depending on the icing sugar application. The sugar has to be used compulsively within a short time as the possibility of sugar becoming caked persists even if anti-caking agents are present. The starch source often varies with the form of powdered sugar manufactured. Yet cane sugar is the primary source of sugar in every powdered sugar.
Powdered sugar is primarily used on cookies as its natural embedded properties make powdered sugar dissolve in these items better. Due to unpredictable climatic conditions, sugar-producing locations worldwide such as India, Brazil, and many other EU countries have seen slow growth in 2016. The agricultural yield has been relatively low, which further affected the global sugar market's organic growth. The standard sugar production flow has been hit and broken globally, affecting the growth of the powdered sugar market. Despite the industry's struggle with the unfavorable conditions, market participants are attempting to build a path to continue a free flow of exports and imports.
People's changing lifestyles have evolved food habits in developing economies. This has resulted in the expansion of the bakery industry in these regions. In European countries, the bakery industry is well established and advanced. However, the transition in the APAC and LAMEA regions has led to an increase in the presence of the foodservice. This has driven the demand for icing sugar with good quality in the bakery industry to meet consumers' demands. But in these regions, there are fewer powdered sugar producers. It thus provides all the manufacturers in these regions with white space. The seasonal market also influences the global sales of powdered sugar.
The U.S. sugar industry has been positively influenced by government policies and frameworks. For example, according to the North American Free Trade Agreement, Mexico has been favored with an unlimited amount of sugar export to the U.S. Due to the existence of some of the largest sugar-producing countries in the region, such as India and China; the Asia Pacific is expected to be the fastest-growing market in the coming years. Increased bakery and dairy food consumption have also multiplied product demand.
Based on Product, the market is segmented into Conventional and Organic. Based on Application, the market is segmented into Bakery, Dairy, Confectionery and Others. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The North America market dominated the Global Powdered Sugar Market by Region in 2018, and would continue to be a dominant market till 2025; thereby, achieving a market value of $2,693.2 Million by 2025, growing at a CAGR of 3.8 % during the forecast period. The Asia Pacific market is expected to witness a CAGR of 5.8% during (2019 - 2025).
Scope of the Study
Market Segmentation:
By Product
• Conventional
• Organic
By Application
• Bakery
• Dairy
• Confectionery
• Others
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Australia
o South Korea
o Singapore
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• Sudzucker AG
• Tate & Lyle PLC
• Cargill Corporation
• Louis Dreyfus Company B.V. (Imperial Sugars)
• Nordzucker AG (Nordic Sugar A/S)
• American Crystal Sugar Company
• American Sugar Refining, Inc. (Domino Foods, Inc.)
• Swire Pacific Ltd. (Taikoo Sugar Limited)
• COFCO Corporation
• Nanning Sugar Industry Co., Ltd.
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