The refined sugar production level in the US was 7.55 million metric tons in 2023. The production has seen fluctuating trends since 2013, with notable increases in 2016 and 2018 and declines in 2014, 2015, 2019, and 2020. The year-on-year variation in 2023 was 0.5%, indicating a stable production level compared to the previous year. Over the last five years (2019-2023), the average annual growth rate (CAGR) was -0.9%, suggesting a slight overall decline.
Looking forward, the forecast from 2024 to 2028 predicts a moderate growth trend, with the refined sugar production expected to reach 7.73 million metric tons by 2028. The forecasted average annual growth rate (CAGR) over this period is 0.38%, translating to an overall 1.93% growth over the five years.
Future trends to watch for include potential impacts from climate change on sugar crop yields, changes in consumer demand towards healthier alternatives, and regulatory changes affecting sugar production and import policies.
