The raw sugar equivalent market size in China has shown a gradual decline over the past decade. From a peak of 11.56 million metric tons in 2014, it has steadily decreased to 10.2 million metric tons in 2023. The YoY variation for 2023 showed a slight decline of 0.65%, while the 5-year CAGR stands at -0.9%, indicating an overall downward trend.
Looking forward, the market size is forecasted to continue its decline, reaching 9.85 million metric tons by 2028. The forecasted 5-year CAGR from 2023 to 2028 is -0.56%, which suggests a relatively slower rate of decrease compared to the historical period.
While the market is expected to shrink, potential areas to watch include advancements in agricultural technology, shifts in consumer preferences towards low-sugar or sugar-free products, and changes in regulatory policies affecting sugar production and consumption. These factors could either mitigate or accelerate the projected decline.
