Categories: Food & Beverages

Powdered Sugar Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Powdered Sugar Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Powdered Sugar Global Market Report 2024, The powdered sugar market size has grown steadily in recent years. It will grow from $5.79 billion in 2023 to $6.07 billion in 2024 at a compound annual growth rate (CAGR) of 4.8%. The growth in the historic period can be attributed to industrialization of food processing, consumer preference for convenience foods, advancements in sugar refining, expansion of the confectionery market..

The powdered sugar market size is expected to see steady growth in the next few years. It will grow to $7.36 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%. The growth in the forecast period can be attributed to continued growth in bakery sector, increased adoption of ready-to-eat foods, healthier variants and sugar alternatives, expansion of food and beverage industry, innovations in branding.. Major trends in the forecast period include technological advancements in production, rise in home baking and cooking trends, customization and specialty variants, expansion of foodservice industry, innovation in packaging and presentation..

Increasing demand for dairy food is expected to propel the growth of the powdered sugar market going forward. Dairy products are liquids and non-edible products created or extracted from a mammal’s milk, such as a cow, goat, ewe, or water buffalo. Powdered sugar gives dairy and bakery products a pleasing texture, fluffier form, and delectable flavor. Due to such benefits, there is an increasing demand the powdered sugar. . For instance, in November 2021, according to the Dairy Foods Magazine, a US-based online publication that covers various aspects of the dairy and dairy foods industry, flavored milk sales in dollars climbed 4.8% to $1,646,5 million, while sales in units increased 1.0% to $658.2 million. Therefore, increasing demand for dairy food is driving the growth of the powdered sugar market .

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The powdered sugar market covered in this report is segmented –

1) By Type: Conventional, Organic

2) By Form: Extra Fine, Coarse-Grained, Decoration, Other Forms

3) By Distribution Channel: Direct, Indirect

4) By Application: Confectionary, Bakery, Dairy, Beverages, Other Applications

Technological innovations have emerged as a key trend in the powdered sugar market. Major companies operating in the powdered sugar market are focused on innovating new methods to sustain their position in the market. For instance, in March 2022, Cargill, a US-based food corporation, launched the EverSweet + ClearFlo Stevia Platform, combined with a stevia-enhancing clearflo technology. This mixture can improve flavor, solubility, formulation stability, and dissolution speed. Due to EverSweet’s quick sweetness onset and high sweetness potency, the platform would provide a more sugar-like sensation, especially at higher concentrations. The innovative sweetening process can also help to reduce unpleasant flavors present in a formulation, such as bitter coffee flavors, earthy protein notes, or metallic tastes from potassium chloride.

The powdered sugar market report table of contents includes: