Global Industrial Sugar Market Overview And Statistics For 2024-2033
The industrial sugar market grew from $45.9 billion in 2023 to $48.77 billion in 2024 at a 6.2% CAGR, driven by demand for confectionery and dairy products. It is projected to reach $61.93 billion by 2028. Key players include Cargill, Tereos, and Nordzucker. Asia-Pacific leads the market. Strategic partnerships focus on producing sugar from unpalatable biomass.
LONDON, GREATER LONDON, UNITED KINGDOM, October 7, 2024 /EINPresswire.com/ — The industrial sugar market has experienced robust growth in recent years, expanding from $45.9 billion in 2023 to $48.77 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. 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.
What Is The Estimated Market Size Of The Global Industrial Sugar Market And Its Annual Growth Rate?
The industrial sugar market is projected to continue its strong growth, reaching $61.93 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. 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
Growth Driver of The Industrial Sugar Market
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.
Which Market Players Are Driving The Industrial Sugar Market Growth?
Key players in the market include 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.
What Are The Key Trends That Influence Industrial Sugar Market Share Analysis?
Major companies operating in the industrial sugar market are adopting a strategic partnership approach aiming to produce sugar from unpalatable biomass. Strategic partnerships refer to a process in which companies leverage each other’s strengths and resources to achieve mutual benefits and success.
How Is The Global Industrial Sugar Market 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
Geographical Insights: Asia-Pacific Leading The Industrial Sugar Market
Asia-Pacific was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Industrial Sugar Market Definition
Industrial sugar is made from sugarcane molasses or sugar beets and goes through a number of process cycles, including extraction, cleaning, crystallization, and drying. Industrial sugar is used as a preservative to prevent the growth of microorganisms and the formation of large ice crystals in frozen products such as ice cream.
Industrial Sugar Global Market Report 2024 from The Business Research Company covers the following information:
- Market size data for the forecast period: Historical and Future
- Macroeconomic factors affecting the market in the short and long run
- Analysis of the macro and micro economic factors that have affected the market in the past five years
- Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
- Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global industrial sugar market report covering trends, opportunities, strategies, and more
The Industrial Sugar Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on industrial sugar market size, industrial sugar market drivers and trends, industrial sugar market major players and industrial sugar market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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