In 2023, Indonesia leads global centrifugal raw sugar imports. China is the second largest importer, while Saudi Arabia, showing a significant increase of 13.1%, climbed in rank. In contrast, Bangladesh and Algeria saw declines of -2.21% and -2.72%, respectively. An impressive increase was noted in Ethiopia at 58.79% and Azerbaijan at 177.65%, suggesting shifting market dynamics in these regions. The United States and South Korea experienced slight declines, indicative of stabilizing consumption patterns.
Looking ahead, watch for rising demand in rapidly growing markets like Ethiopia and Azerbaijan. The market could also see shifts due to economic growth in emerging economies and increased health consciousness impacting sugar consumption patterns.
Top countries in Centrifugal Raw Sugar Import Share by Country (Thousand Metric Tons)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Indonesia | 13.46 | 2023 | -3.64% | +0.47% | View data |
| 2 | 2 China | 10.16 | 2023 | +25% | +2.13% | View data |
| 3 | 3 Bangladesh | 5.46 | 2023 | +14.54% | -2.21% | View data |
| 4 | 4 Algeria | 5.08 | 2023 | +0.76% | -2.72% | View data |
| 5 | 5 Saudi Arabia | 4.89 | 2023 | +6.65% | +13.1% | View data |
| 6 | 6 United States | 4.73 | 2023 | -18.33% | -2.76% | View data |
| 7 | 7 Malaysia | 4.57 | 2023 | -8.68% | -1.94% | View data |
| 8 | 8 Nigeria | 4.57 | 2023 | 0% | +0.68% | View data |
| 9 | 9 South Korea | 4.22 | 2023 | -2.47% | -2.52% | View data |
| 10 | 10 Morocco | 4.11 | 2023 | +1.25% | +8.19% | View data |
