In 2023, the Raw Sugar Equivalent market size volume in Norway stood at 142.30 Thousand Metric Tons. Based on the forecasted data, the market is expected to exhibit a steady declining trend from 2024 onwards. Specifically:
- In 2024, the volume is forecasted to be 141.11 Thousand Metric Tons, reflecting a -0.84% decline year-on-year compared to 2023.
- In 2025, the volume is anticipated to decrease further to 140.43 Thousand Metric Tons, showing a year-on-year variation of -0.48%.
- In 2026, the volume is projected to reach 139.76 Thousand Metric Tons, marking a -0.48% decline year-on-year.
- By 2027, the volume is expected to be 139.11 Thousand Metric Tons, indicating a -0.47% yearly decrease.
- In 2028, the forecasted volume is 138.46 Thousand Metric Tons, with a -0.47% year-on-year decline.
Over the five-year period from 2023 to 2028, the Compound Annual Growth Rate (CAGR) for the market is approximately -0.54%, signifying a gradual but consistent reduction in market size volume.
Future trends to watch for:
- Emerging health and wellness trends advocating for reduced sugar consumption might continue to influence the ongoing decline.
- Innovations in sugar alternatives could accelerate the decrease in raw sugar equivalent demand.
- Policy changes, such as increased taxes on sugary products, could also contribute to the downward trend in the market size volume.
- Monitoring global sugar production trends and any potential supply chain disruptions will be critical for anticipating market adjustments.
