According to MarketsandMarkets, the industrial sugar market is projected to reach USD 59.1 billion by 2028 from USD 46.4 billion by 2023, at a CAGR of 5.0% during the forecast period in terms of value. The demand for industrial sugar is driven by the growth in the food and beverage industry, which accounts for the majority of sugar consumption. The increasing demand for convenience foods and beverages has led to an increase in the use of sugar as a sweetener and preservative. The pharmaceutical and chemical industries also use sugar as a raw material in the production of various products. Moreover, the industrial sugar market is also influenced by the growing trend toward natural and organic food products, which has increased demand for organic sugar. Additionally, the market for alternative sweeteners, such as high-fructose corn syrup, is also impacting the demand for industrial sugar.
"By type, white sugar is projected in high demand during the forecast period."
Several factors, including the growing demand for processed foods and beverages and the increasing use of sugar in the pharmaceutical and personal care industries, drive the global market for white sugar.The market is also influenced by factors such as sugar prices, government regulations, and the availability of raw sugar.
Moreover, the raw sugar undergoes a refining process that removes impurities and produces a granulated, white product that is approximately 99.5% pure sucrose. This refined white sugar is commonly used in the food and beverage industry as a sweetener and in other industrial applications.
"By form, the market for granulated industrial sugar is projected in high demand"
Granulated sugar is commonly used as a sweetener in a wide variety of food and beverage products, including baked goods, confectionery, soft drinks, and other processed foods.The demand for granulated sugar is steady throughout the year because it is a common ingredient in many food and beverage products.
The granulated sugar market is also influenced by various external factors such as changes in government regulations, weather conditions, and trade policies. For instance, changes in sugar import/export tariffs and quotas can impact the availability and prices of granulated sugar in different regions of the world.
Asia Pacific will significantly contribute towards market growth during the forecast period
The industrial sugar market in the Asia Pacific region has been experiencing steady growth over the past few years.This growth can be attributed to the dominance of domestic food manufacturers, which is driving the adoption of food & beverages industry in the region.
Moreover, the food and beverage industry is the largest consumer of industrial sugar in the region, due to the high demand for sweeteners and other sugar-based ingredients in various food and beverage products. Additionally, the pharmaceutical and personal care industries are also driving the growth of the industrial sugar market in the region, as sugar is widely used in the production of medicines and cosmetic products.
Break-up of Primaries:
• By Value Chain: Manufacturers-70%, Suppliers – 30%
• By Designation: CXOs-33.7%, Managers – 44%, and Executives- 22.3%
By Region: Europe - 18%, Asia Pacific – 10%, North America - 60%, Middle East & Africa – 4%, South America-8%
Leading players profiled in this report:
• Südzucker AG (Germany)
• Cargill, Inc. (US)
• Associated British Foods plc (UK)
• Raízen (Brazil)
• Lantic Inc. (Germany)
• Mitr Phol Group (Thailand)
• AMERICAN CRYSTAL SUGAR (US)
• Louis Dreyfus Company (Netherlands)
• Tereos (France)
• Michigan Sugar Company (US)
• Dwarikesh Sugar Industries Limited (India)
• Canal Sugar (Egypt)
• Al Khaleej Sugar (Dubai)
• Rajshree Sugars & Chemicals Limited (RSCL) (India)
• Rana Group (India)
The study includes an in-depth competitive analysis of these key players in the Industrial sugar market with their company profiles, recent developments, and key market strategies.
The report segments the industrial sugar market on the basis of form, source, application, type and region. In terms of insights, this report has focused on various levels of analyses—the competitive landscape, end-use analysis, and company profiles, which together comprise and discuss views on the emerging & high-growth segments of the global industrial sugar market, high-growth regions, countries, government initiatives, drivers, restraints, opportunities, and challenges.
Reasons to buy this report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall industrial sugar market and the subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
• Analysis of key drivers (Growing industrial beet sugar market), restraints (Rising demand for alternate sweeteners as sugar substitutes), opportunities (Access to new markets due to increasing cooperative sector), and challenges (Increasing cost of sugar production) influencing the growth of the industrial sugar market.
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the industrial sugar market.
• Market Development: Comprehensive information about lucrative markets – the report analyses the industrial sugar market across varied regions.
• Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the industrial sugar market.
• Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players Südzucker AG (Germany), Cargill, Inc. (US), Associated British Foods plc (UK), Raízen (Brazil), and Lantic Inc. (Germany)are among others in the industrial sugar market strategies. The report also helps stakeholders understand the lecithin and phospholipids market and provides them information on key market drivers, restraints, challenges, and opportunities.