Specialty Sugars Market is estimated to rise at a steady CAGR of around 7% through the forecast period 2021 to 2031

NEW YORK, April 27, 2021 /PRNewswire/ -- Rise in demand for Western bakery products in emerging economies is likely to be a major driver for the sale of specialty sugars. Rise of the indigenous bakery products industry in developing markets such as Asia Pacific and Latin America is also expected to be a major factor in driving market growth. Household baking is expected to increase significantly in emerging economies, resulting in healthy increase in demand for caster and icing sugar over the coming years.

As a consequence, the global specialty sugars market has witnessed substantial growth over the past few years, and this trend is expected to continue through the course of the forecast period (2021 to 2031). The market is estimated to rise at a steady CAGR of around 7% through the forecast period.

Key Takeaways from Market Study

• By type, caster sugar is witnessing a prominent market value share at more than 36%. Key contributing factor is higher utilization of specialty sugar in bakery and confectionary products.
• Among the end-use segments, the food industry is projected to experience substantial growth in demand for specialty sugars over the forecast period.
• Among the distribution channels, the business to business segment is estimated to hold a larger share of the market value at around 75%, attributed to higher demand for specialty sugar from the food & beverage industry.
• Government support in various countries such as the United Kingdom, France, Sweden, etc., is estimated to have a positive influence on market growth across these regions.
• North America and Europe hold around half the share of the global market, mainly due to a well-established retail sector and bakery industry.
• Growing impact of COVID-19 on various industries is expected to have a moderate impact on the progress of the specialty sugars market. The coronavirus pandemic is reviving demand for specialty sugars, thanks to online sales, home baking companies, and booming e-Commerce market.

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"Manufactures of specialty sugars could gain broad profits by targeting the bakery and dairy industry, as demand for bakery products and confectionery products is growing rapidly," says an analyst at Persistence Market Research.

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Competitive Landscape

The global specialty sugars market is highly fragmented, with a large number of players. Imperial Sugar Company, American Crystal Sugar Company, Domino Foods Inc. (C&H Sugar), Südzucker AG, and Organic Tattva are some of the most important manufacturers of specialty sugars. Key players in this space are expected to keep expanding their production capacities and improving their processes by incorporating cutting-edge technology. Manufacturers are also focused on increasing their market presence across the globe through continuous expansion of their distribution networks.

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Explore More Valuable Insights

Persistence Market Research, in its new report, offers an impartial analysis of the global specialty sugars market, presenting historical data (2016-2020) and estimation statistics for the forecast period of 2021-2031. The study offers compelling insights on the market based type (caster sugar, icing sugar, muscovado sugar, demerara sugar, and others), end use (food & beverages, foodservice, and retail/household), and distribution channel (business to business and business to consumers), across seven major region of the world.

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Browse End-to-end Market:  Food and Beverages

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• Fortified Sugars Market: https://www.persistencemarketresearch.com/market-research/fortified-sugars-market.asp 
• Plant Derived Sugars Market: https://www.persistencemarketresearch.com/market-research/plant-derived-sugars-market.asp 

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