Global Industrial Sugar Market Size Insights Forecasts to 2032

• The Global Industrial Sugar Market Size was valued at USD 51.64 Billion in 2022.
• The Market Size is Growing at a CAGR of 6.48% from 2022 to 2032
• The Worldwide Industrial Sugar Market Size is expected to reach USD 96.75 Billion by 2032
• Europe is expected to Grow the fastest during the forecast period

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The Global Industrial Sugar Market Size is expected to reach USD 96.75 Billion by 2032, at a CAGR of 6.48% during the forecast period 2022 to 2032.

 

Sugar is one of the most essential commodities in the world since it is used in a variety of food products. The increased demand from the food industry and industrial applications is likely to cause the worldwide industrial sugar Market Size to expand quickly. One of the most important commodities in the world is sugar. Industrial sugar is one of the most widely consumed in a variety of cuisines. Industrial sugar is a sweet, soluble carbohydrate that is added to a variety of foods. Industrial sugar comes in a variety of forms and is derived from a variety of sources.

 

Furthermore, the increased production of sugar cane is predicted to have a favorable impact on the worldwide industrial sugar Market Size. Industrial sugar is commercially generated from two raw materials: sugar cane and beetroot. sugar is widely utilized around the world due to large production levels and consumer choices. There are numerous small and medium-sized local businesses in the industry, as well as a few markets huge. The increased awareness of the health risks linked to high sugar consumption and the shift in customer preference towards healthy eating habits over the years, however, may affect product demand. The monoculture production of sugar utilized in the industry, as well as alternative sweeteners such as stevia, raw honey, coconut sugar, and dates, are predicted to impede the Growth of the industrial sugar market throughout the forecast period. Furthermore, the Growing number of diabetic individuals worldwide is predicted to restrict the use of industrial sugar, limiting its demand in application sectors.

 

Driving Factors

The food and beverage industry continues to Grow all around the world. The creation of unique commodities and the change in customer demand has greatly driven the rise of several food and beverage sector categories. Sugar has become an essential ingredient in the food processing sector due to its wide range of applications. The key driver of market expansion is rising consumer demand for processed foods and beverages. Furthermore, sugar is widely employed in both alcoholic and non-alcoholic beverages. The Growing habit of drinking as a snack has greatly raised demand for a variety of beverages, including dairy, soft drinks, and functional beverages. Due to the rising population and rising levels of disposable income among customers in developing economies, the demand for baked goods has expanded tremendously in recent years. Sugar demand is expected to rise in the coming years due to rising consumer demand for desserts. Other processed foods such as sauces, soups, ready-to-cook, ready-to-eat meals, and frozen foods are expected to sustain market expansion during the estimated period.  

 

Restraining Factors        

The industry's expansion is significantly impacted by the rising incidence of lifestyle-related health issues including obesity and diabetes linked to excessive sugar consumption. According to the Global Diabetes Community in the United Kingdom, 415 million individuals were diagnosed with diabetes worldwide in 2018, with the number anticipated to climb to 642 million people living with the condition by 2040. To prevent these illnesses and maintain overall health, consumers are gravitating towards low-sugar, low-GI, and low-carb diets. As a result, the growing number of people suffering from health issues such as diabetes and cardiovascular illnesses is likely to decrease overall market growth during the forecast period. Furthermore, the increasing availability of sugar substitutes such as honey, stevia, and jaggery, which are believed to be healthier, is expected to be a substantial limitation on market expansion.

 

Market Segmentation

By Type Insights

The white sugar segment dominates the market with the largest revenue share over the forecast period.

On the basis of type, the global industrial sugar market is segmented into white sugar, brown sugar, and liquid sugar. Among these, the white sugar segment is dominating the market with the largest revenue share of 3.1% over the forecast period. White sugars are commonly used in the culinary and pastry industries. They have small granules that are ideal for cooking and baking. They are most commonly used in home kitchens, bakeries, cafes, restaurants, and food processing. It comes in a variety of forms, including granulated, caster, icing, and jam-setting sugar. brown sugar contains residual molasses from the refining process. This molasses gives brown sugar its particular colour and flavour, as well as a trace of minerals. Liquid sugars are mostly used to flavour and colour baked goods. These also help to keep foods moist and extend their shelf life.

 

By Form Insights

The granulated sugar segment is witnessing significant CAGR growth over the forecast period.

On the basis of form, the global industrial sugar market is segmented into form granulated, syrup, and powdered. Among these, the granulated sugar segment is witnessing significant CAGR growth over the forecast period. Granulated sugar is the most commonly utilized variety of industrial sugar worldwide. This crystallized form of sugar can be used as a preservative in a variety of end-use applications, including candied fruits, jams, and marmalades, boosting its utility and driving its consumption.

 

By Source Insights

The cane sugar segment is expected to hold the largest global industrial sugar market share during the forecast period.

Based on the source, the global Industrial sugar market is classified into sugar cane and sugar beet. Among these, the cane sugar segment is expected to hold the largest share of the Industrial Sugar market during the forecast period. Sugarcane is predicted to be the principal crop utilised to produce sugar. It is mostly grown in Asia, Africa, and South America's tropical and subtropical climates. Sugarcane output is expected to rise during the estimated period as a result of both area expansion and yield increases. Sugarcane accounts for around 86% of overall sugar crop production, according to the Organisation for Economic Cooperation and Development (OECD) and Food and Agricultural Organisation (FAO). Sugar beets are primarily grown in temperate regions. Beet molasses and sugar are widely utilised in the manufacture of a wide range of items, including food, drinks, pharmaceuticals, chemicals, and textiles. However, rising input costs as a result of enhanced harvesting technology and shrinking farmed areas are likely to impede beetroot output growth in the future years.

 

By Application Insights

The confectionery segment dominates the market with the largest revenue share over the forecast period.

On the basis of application, the global Industrial sugar market is segmented into dairy products, bakery products, confectionery, beverages, and pharmaceuticals. Among these, the confectionery segment is dominating the market with the largest revenue share of 38.6% over the forecast period. confectionery items such as marmalade, chewing gum, sweets, candied nuts, chocolates, and chewing gum have a wide range of applications and consumption. A growing population and innovations in technology in developing economies are predicted to significantly contribute to the global industrial sugar market's growth. In recent years, the popularity of sweet candy has grown dramatically in nations such as China, India, Indonesia, and the United Arab Emirates (UAE). The increased discretionary income of the population in these countries is principally responsible for the growth. Consumers today are willing to pay a premium for high-quality, flavourful, and tasty items.

 

Regional Insights

Asia-Pacific dominates the market with the largest market share over the forecast period.

 

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Asia-Pacific is dominating the market with more than 38.7% market share over the forecast period. the market is expanding rapidly, owing primarily to increased demand for sugary sweets and soft drinks, particularly in urban areas. India, followed by Indonesia and China, is expected to lead the area in terms of growth, owing to increased population and consumer disposable income.

 

Europe, on the contrary, is expected to grow the fastest during the forecast period. As there is an increase in demand for Beet Sugar in the European region. The sugar industry in Europe is expected to increase through the forecast period as European Union announced the liberalization of sugar policies Sugar demand is anticipated to increase in Russia, attributed to domestically produced confectionary products and homemade alcohol. In addition to it the demand for bakery products fuelling the demand for industrial sugar through the forecast period.

 

North America market is expected to register a substantial CAGR growth rate during the forecast period. Although the per capita consumption is much lower than in other regions the sugar demand is gradually increasing and Consumers' constant need for confectioneries and drinks fuels market expansion in the region. Furthermore, South American countries such as Colombia, Argentina, and Chile are experiencing high sugar demand as a result of increased demand for processed food goods. Brazil is the largest sugar producer. However, the demand is expected to increase gradually through the forecast period.

 

List of Key Market Players

• Suedzucker AG
• Cosan
• Associated British Foods 
• Mitr Phol Group
• Cargill, Inc.
• Tereos S.A.
• Imperial Sugar Company
• Rogers Sugar, Inc. 
• American Crystal Sugar Company
• Louis Dreyfus Holding B.V. 

 

Key Market Developments

• On August 2022, Razen, the world's largest sugar exporter, and ASR Group, the world's largest refiner and marketer of cane sugar, have announced a collaboration that will set the global standard for sustainable raw cane sugar supply chains.

 

• On July 2022, Al Khaleej Sugar announced the development of a new sugar mill in Merida, Spain. This expands the company's operations beyond the Middle East and North Africa as it attempts to penetrate the sugar-beet processing market. The corporation began building the new factory in 2022, investing roughly USD 590 million. The factory has an annual capacity of up to 900,000 metric tonnes of sugar.

 

• On January 2022, Tereos, a French sugar company, revealed ambitions to raise beetroot sugar output in Brazil by 50% by 2024. The development is projected to boost Tereos' market share in the Brazilian industrial sugar market.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the global industrial sugar market based on the below-mentioned segments:

 

Industrial Sugar Market, Type Analysis

• White Sugar
• Brown Sugar
• Liquid Sugar

 

Industrial Sugar Market, Form Analysis

• Granulated
• Syrup
• Powdered

 

Industrial Sugar Market, Source Analysis

• Cane Sugar
• Beet Sugar

 

Industrial Sugar Market, Application Analysis

• Dairy Products
• Bakery Products
• Confectionery
• Beverages
• Pharmaceuticals

 

Industrial Sugar Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa