The Italian solid refined sugar market has shown a downward trend over the past decade, declining from 1.5986 billion Euros in 2013 to 1.0357 billion Euros in 2023. This represents a continuous yearly decrease, with larger drops observed in 2017 and 2018. Over the last two years, the market saw slight negative variations, specifically a 6.22% decrease in 2022 and a 3.73% decrease in 2023. The compound annual growth rate (CAGR) over the past 5 years averaged 0.16%, reflecting a slight reduction.
Forecast data from 2024 to 2028 suggest a continued slow decline, with the market expected to shrink by an average of 3.33% per year, reaching 0.8409 billion Euros by 2028. This reflects an overall projected decline of 15.57% over the forecast period.
Future trends to watch include potential shifts in consumer preferences towards healthier alternatives, regulatory changes affecting sugar content in foods, and economic factors influencing consumer purchasing power. Additionally, technological advancements in production and possible sugar substitutes may significantly impact market dynamics.
