The industrial sugar global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Industrial Sugar Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The industrial sugar market size has grown strongly in recent years. It will grow from <b>$45.9 billion in 2023 to $48.77 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. </b> The growth in the historic period can be attributed to colonial expansion and plantation agriculture, industrial revolution and refining techniques, expansion of sugar beet cultivation, slavery and labor practices, market liberalization and trade policies.
The industrial sugar market size is expected to see strong growth in the next few years. It will grow to <b>$61.93 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. </b> The growth in the forecast period can be attributed to environmental and sustainability concerns, increasing demand in pharmaceutical applications, expansion of food and beverage industry, rise in biofuel production, government policies and regulations. Major trends in the forecast period include health and wellness trends, demand for natural and clean-label products, technological innovations in processing, rise in low-calorie sweeteners, diversification of sugar applications.
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Scope Of Industrial Sugar Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Industrial Sugar Market Overview
Market Drivers –
The rise in demand for confectionery products such as dairy items is expected to propel the industrial sugar market going forward. Dairy items refer to products primarily made with or containing milk from mammals such as cows. The growth of the worldwide industrial sugar market can be attributed to the increased usage of confectionery in the production of a wide range of beverages and confectionary goods, including cakes, milkshakes, croissants, and hot sugar. For instance, in August 2023, according to the Department of Agriculture, Fisheries, and Forestry, an Australia-based government division, dairy exports are anticipated to grow by 2% in 2023–24, to 679 kilotonnes, an increase from 663 kilotonnes in 2022–23. Therefore, the rise in demand for confectionery products such as dairy items is driving the growth of the industrial sugar market.
Market Trends –
Technological innovations have emerged as a key trend gaining popularity in the industrial sugar market. Major companies operating in the industrial sugar market are focused on developing new innovative technologies to strengthen their position in the market. For instance, in March 2022, Cargill, a US-based food corporation and a producer of industrial sugar, introduced the EverSweet + ClearFlo Stevia Platform, a first-of-its-kind stevia-boosting technology. The unique feature of the platform is that it incorporates the company’s top sweetener as well as other natural flavors. Due to Cargill’s ClearFlo technology, EverSweet, a stevia-based sweetener, serves as a platform for other natural flavors. This mixture can improve flavor, solubility, formulation stability, and dissolution speed. The novel sweetening technique can also help reduce undesirable flavors that may be present in a formulation, such as bitter coffee flavors, earthy protein notes, or metallic tastes from potassium chloride.
The industrial sugar market covered in this report is segmented –
1) By Type: White Sugar, Brown Sugar, Liquid Sugar
2) By Source: Cane, Beet
3) By Form: Granulated, Powder, Syrup
4) By Application: Dairy, Bakery, Confectionary, Beverages, Frozen Foods, Other Applications
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Regional Insights –
Asia-Pacific was the largest region in the industrial sugar market share in 2023. The regions covered in the industrial sugar market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the industrial sugar market report are Cargill Incorporated, Tereos India Private Limited, Nordzucker AG, EID Parry Ltd., Südzucker AG, Louis Dreyfus Company B.V., British Sugar plc, Shree Renuka Sugars Ltd., Archer Daniels Midland Company, Raízen S.A., Tongaat Hulett Sugar Limited, Cosan SA Indústria e Comércio, Mitr Phol Sugar Corporation, Associated British Foods Plc, Wilmar International Limited, American Crystal Sugar Company, Lantic Inc., Michigan Sugar Company, Imperial Sugar Company, Guangxi Guitang Group Co. Ltd., Rizhao Lingyunhai Sugar Group, Bunge Limited, Thai Roong Ruang Group, Suem do Brasil Embalagens LTDA, China National Cereals Oils & Foodstuffs Corporation, Ingrain Systems Inc., Dhampur Sugar Mills Ltd., Balrampur Chini Mills Ltd., MSF Sugar Ltd., Danone SA
Table of Contents
1. Executive Summary
2. Industrial Sugar Market Report Structure
3. Industrial Sugar Market Trends And Strategies
4. Industrial Sugar Market – Macro Economic Scenario
5. Global Industrial Sugar Market Size and Growth
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31. Global Industrial Sugar Market Competitive Benchmarking
32. Global Industrial Sugar Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Industrial Sugar Market
34. Industrial Sugar Market Future Outlook and Potential Analysis
35. Appendix
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