The market for industrial sugar is projected to reach USD 52.91 Billion by 2022, growing at a CAGR of 6.01% from 2016 to 2022
The market for industrial sugar is projected to reach USD 52.91 Billion by 2022, growing at a CAGR of 6.01% from 2016 to 2022. Sugar is considered as one of the most important commodities, and is produced and consumed around the world, of which around 70% of production is consumed in domestic markets and only 30% is traded in the international markets.
On the basis of type, white sugar is the largest and fastest growing market as it is the most common type of industrial sugar used globally. Factors such as growing demand for confectionery products, growing retail market and expansion of product portfolio are driving the demand for industrial sugar globally. Changing consumer preferences about different products has led to an upsurge in the consumption of different food and beverage products globally.
On the basis of source, cane sugar is projected to grow at a significant rate during the forecast period. Sugar cane production is higher than sugar beet production, globally, as all the major developing countries are involved in the manufacturing of cane sugar.
On the basis of application, the industrial sugar market is segmented into industries such as dairy, bakery, confectionery, beverage, canned & frozen foods, and other food items. Confectionery is the largest and fastest growing segment during the forecast period due to its use in a wide variety of applications and consumption of confectionery products such as marmalade, chewing gum, sweets, candied nuts, chocolates, and chewing gum. The growing population and technological advancements in developing economies are expected to contribute extensively towards the growth of the global industrial sugar market.
On the basis of form, the granulated form is the most extensive type of industrial sugar used globally. This crystallized form of sugar is also used as a preservative for different end-use applications such as candied fruits, jams, and marmalades; thereby, increasing its functionality and driving its consumption.
India is one of the largest consumers of industrialized sugar and is projected to grow over a period of time as compare to other regions worldwide. Asia-Pacific in expected to grow from 2016 to 2022 due to urbanization, which has fueled the growth of the global industrial sugar market.
The major restraints of the industrial sugar market are the growth of alternate sweeteners and water consuming monoculture production of industrial sugar. This requires a lot of space for sugar production, resulting in the removal of natural rainforests, mangroves, and reduction in the areas of polyculture production.
Acquisitions and expansions were the key strategies adopted by the key market players to ensure their growth. Major players in the market include Cargill Incorporated (U.S.), Archer Daniel Midland (U.S.), Raizen SA (Brazil), Sudzucker AG (Germany), and Tereos (France). Key players in the market are emphasizing on promotional activities, advertising campaigns, and social media marketing to expand their horizon and gain a competitive advantage in the market. Also, these players are marking notable efforts to enter developing nations to exploit lucrative market opportunities.
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Objectives of the study are as follows:
- To understand the industrial sugar market by identifying its various subsegments
- To define, segment, and measure the industrial sugar market with respect to type, form, application, source, and region
- To analyze emerging trends and opportunities in the global industrial sugar market
- To study the global market with focus on high-growth applications in each vertical and the fastest-growing market segments
- To identify the drivers and restraints of the industrial sugar market and the degree of impact on the opportunities in the market for stakeholders and market leaders
- To identify the opportunities and threats in the global industrial sugar market along with an n-depth market intelligence regarding macro indicators, pricing factors, value chain along with providing a competitive insight
- To strategically analyze micromarkets1 with respect to individual growth trends, future prospects, and contribution to the total market
- To identify and analyze the effect/impact of changes in regulations/legislations and safety aspects on the industrial sugar market
- To provide a detailed competitive landscape of this market, along with an analysis of the business and corporate strategies adopted by key players
- To strategically profile the key players and comprehensively analyze their market share and core competencies2
- To analyze competitive developments such as acquisitions, expansions, agreements, joint ventures, and collaborations, and in the industrial sugar market
Target Audience >>
The key stakeholders for the report are as follows:
- Farmers and raw material suppliers
- Manufacturers, millers, and factory corporate owners
- Refinery owners
- Commodity importers and exporters
- Commodity traders and distributors
- Government and research organizations
- Associations and industry bodies
Scope of the Report >>
On the basis of Type, industrial sugar market is segmented as follows:
- White sugar
- Brown sugar
- Liquid sugar
On the basis of Form, industrial sugar market is segmented as follows:
On the basis of Mode of Application, the industrial sugar market is segmented as follows:
- Canned & frozen foods
- Other food items
- On the basis of source, the industrial sugar market is segmented as follows:
- Cane sugar
- Beet sugar
On the basis of Region, the industrial sugar market is segmented as follows:
- North America
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