$59.1 Billion Industrial Sugar Market - Global Forecast to 2028 with Sudzucker, Cargill, Associated British Foods, Raizen, and Lantic Dominating

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May 26, 2023, 13:00 ET

DUBLIN, May 26, 2023 /PRNewswire/ -- The "Industrial Sugar Market by Type (White Sugar, Brown Sugar, & Liquid Sugar), Application (Dairy Products, Bakery Products, Confectionery, Beverages, & Pharmaceuticals), Source (Sugarcane & Sugar Beet) and Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.

The industrial sugar market is projected to reach USD 59.1 billion by 2028 from USD 46.4 billion by 2023, at a CAGR of 5.0%

The demand for industrial sugar is driven by the growth in the food and beverage industry, which accounts for the majority of sugar consumption. The increasing demand for convenience foods and beverages has led to an increase in the use of sugar as a sweetener and preservative. The pharmaceutical and chemical industries also use sugar as a raw material in the production of various products.

Moreover, the industrial sugar market is also influenced by the growing trend toward natural and organic food products, which has increased demand for organic sugar. Additionally, the market for alternative sweeteners, such as high-fructose corn syrup, is also impacting the demand for industrial sugar.

By type, white sugar is projected in high demand during the forecast period.

Several factors, including the growing demand for processed foods and beverages and the increasing use of sugar in the pharmaceutical and personal care industries, drive the global market for white sugar. The market is also influenced by factors such as sugar prices, government regulations, and the availability of raw sugar.

Moreover, the raw sugar undergoes a refining process that removes impurities and produces a granulated, white product that is approximately 99.5% pure sucrose. This refined white sugar is commonly used in the food and beverage industry as a sweetener and in other industrial applications.

By form, the market for granulated industrial sugar is projected in high demand

Granulated sugar is commonly used as a sweetener in a wide variety of food and beverage products, including baked goods, confectionery, soft drinks, and other processed foods. The demand for granulated sugar is steady throughout the year because it is a common ingredient in many food and beverage products.

The granulated sugar market is also influenced by various external factors such as changes in government regulations, weather conditions, and trade policies. For instance, changes in sugar import/export tariffs and quotas can impact the availability and prices of granulated sugar in different regions of the world.

Asia Pacific will significantly contribute towards market growth during the forecast period

The industrial sugar market in the Asia Pacific region has been experiencing steady growth over the past few years. This growth can be attributed to the dominance of domestic food manufacturers, which is driving the adoption of food & beverages industry in the region.

Moreover, the food and beverage industry is the largest consumer of industrial sugar in the region, due to the high demand for sweeteners and other sugar-based ingredients in various food and beverage products. Additionally, the pharmaceutical and personal care industries are also driving the growth of the industrial sugar market in the region, as sugar is widely used in the production of medicines and cosmetic products.

Competitive assessment

In-depth assessment of market shares, growth strategies and service offerings of leading players Sudzucker AG (Germany), Cargill, Inc. (US), Associated British Foods plc (UK), Raizen (Brazil), and Lantic Inc. (Germany)are among others in the industrial sugar market strategies.

Premium Insights

Increasing Use of Industrial Beet Sugar and Value Addition of Sugar By-Products to Drive Growth of the Industrial Sugar Market
White Sugar Segment and India Accounted for Significant Market Share in 2022
Beverages Segment to Account for Largest Market Share by 2028
White Sugar Segment to Lead Market During Forecast Period
Granulated Segment to Account for Largest Market Share by 2028
Sugarcane Segment to Dominate Market During Forecast Period

Market Dynamics

Drivers

Rise in Global Consumption of Sugar and Growth in International Trade
Increasing Use of Sugar By-Products in Industries
Rising Use of Beet Sugar as Raw Material in Beverage Production

Restraints

Need for Water-Consuming Monoculture Production
Increasing Popularity of Alternate Sweeteners as Sugar Substitutes

Opportunities

Growing Need to Explore Potential of Sugarcane Crops Using Energy Optimization
Increasing Development of the Global Sugar Industry
Preferential Trade Agreements Governing Sugar Imports

Challenges

Fluctuations in Price and Availability of Sugar
High Cost of Producing Sugar

Industry Trends

Value Chain Analysis

Research & Development and Raw Material Sourcing
Manufacturing
Distribution
End-users

Trends/Disruptions Impacting Customer Businesses

Revenue Shift and New Revenue Pockets in Industrial Sugar Market

Technological Analysis

Digitalization
Genetic Engineering

Case Studies

Sugarpharm Made Significant Investments to Overcome Supply Chain and Regulatory Challenges
Cargill Utilized Its Expertise to Improve Technology Used for Manufacturing Natural Sweeteners

Company Profiles

Key Players

Sudzucker AG
Cargill, Inc.
Associated British Foods PLC
Raizen
Lantic Inc.
Mitr Phol Group
American Crystal Sugar Company
Louis Dreyfus Company
Tereos
Michigan Sugar Company
Dwarikesh Sugar Industries Limited
Canal Sugar
Al Khaleej Sugar
Rajshree Sugars & Chemicals Limited (Rscl)
Rana Group

Other Players

Shree Renuka Sugars
Upper Ganges Sugar & Industries Limited
Bajaj Hindusthan Sugar Ltd.
Nile Sugar
Bannari Amman Group
Dhampur Bio Organics Limited
Dhanraj Sugars Pvt. Ltd.
Thai Sugar Group
Mehta Group
Dalmia Bharat Group

For more information about this report visit https://www.researchandmarkets.com/r/p3wgy

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