Market Overview:
The Global Industrial Sugar Market size is expected to grow from USD 44.6 billion in 2022 to USD 66.6 billion by 2030, at a CAGR of 5.30% during the forecast period (2023-2030).
Sugar is a carbohydrate that is utilized by the human body to generate energy, there are two types of sugar one is a natural sugar that naturally occurs in food such as in fruit and starchy vegetables and other is the industrial sugar; which is processed or manufactured sugar. Industrial sugars are added sugar, which means any sugar added to food at the time of preparation is industrial sugar. There are many different types of industrial sugars but the most common type of refined sugar is cane sugar. It is also called table sugar or granulated sugar which is commonly used in baking and cooking.
Top Key Players for Industrial Sugar Market:
American Crystal Sugar Company, Archer Daniels Midland Company, Associated British food plc (UK), Cosan SA Industrial e Comercio (Brazil), E.I.D Parry Lit (India), Illovo Sugar (South Africa), Louis Dreyfus Holding BV (Amsterdam), Mitr Phol Sugar corporation lit (Thailand), Nordzucker Group AG (Germany), Shree Renuka Sugar ltd (India), Suedzucker AG (Germany), Tereos Internacinal SA (Brazil), and other major players.
Market Dynamics and Factors for Industrial Sugar Market:
Drivers:
Growing Consumption of Processed Food and Beverages
The popularity of processed food and beverages can be attributed to various factors. These items are known for their high palatability, making them enjoyable to eat. Moreover, they offer a great deal of convenience, as they are easy to prepare and require minimal cooking time. Processed foods also have a longer shelf life, making them suitable for those who have limited access to fresh produce or busy schedules. Additionally, the affordability of processed foods makes them an attractive option for budget-conscious individuals.
Opportunities:
High Adoption of Brown and Organic Sugar
Increasing adoption of brown sugar and organic sugar due to their high nutritional value is providing a lucrative opportunity for the growth of the market. The molasses in brown sugar makes it a source of certain minerals like calcium; potassium, iron, and magnesium due to this people prefer these sugars. Moreover, increasing health consciousness, the prevalence of chronic diseases, and trends in eating dietary food products are triggering the demand for brown and organic sugar. People prefer brown sugar over white sugar since white sugar contains no minerals and also risks having sulphur, which is harmful to the human body but it is used during the refining process.
Segmentation Analysis of the Industrial Sugar Market:
By Type, the White sugar segment is estimated to dominate the Industrial Sugar market and continue the dominance over the projected period owing to the high demand for the product from the different manufacturing industries. White sugar is made from sugar cane, it is the most common type of industrial sugar which is used across the globe.
By End Use, the Confectionery segment is estimated to dominate the market in the upcoming years. It is an important and popular food among a wide range of the population. It has been used as a major food delicacy from ancient times which includes food products like cake, candy, sugar confectionery mints, chewing gums, and chocolate confectionery.
By Type
- White Sugar
- Brown Sugar
- Liquid Sugar
By End Use
- Confectionary
- Beverages
- Dairy Products
- Others
Regional Analysis of the Industrial Sugar Market:
The Asia Pacific is the dominating region and is expected to dominate the global industrial sugar market in the upcoming years. The high consumption of sugar owing to the growing demand for confectionery food products, and soft drinks are driving the growth of the market. The region includes countries like India, china, and japan which contain a huge population that helps to raise the consumption of industrial sugar in the region. According to Statista, For 2021/2022, India had the highest sugar consumption across the world amounting to approximately 29 million metric tons. Though China has a larger population than India, India consumed nearly 12 million metric tons more sugar than China.
Key Industry Development:
In December 2021, Khatav Man Taluka Agro Processing in India is planning to take up an integrated sugar expansion project in Padal, Tehsil Khatav, Satara, Maharashtra. The project involves the expansion of integrated sugar from 2500 to 7500 TCD, Cogen Power from 12 to 32 MW & 120 KLPD Distillery /Ethanol Plant with 4 MW Captive Cogen Power Plant. The estimated cost of the project is Rs.2370 million.
In August 2022, The Brazilian government cut its sugarcane production estimate for 2021-22 from 555 MT to 514 MT. Moreover, the sugar production estimate is also likely to be cut by ~2 MT to ~31 MT in the south-central Brazil area.
