Industrial Sugar Market Research Report: Information by Type (Brown Sugar and White Sugar), Source (Sugarcane, Sugar Beet, and Others), Form (Granules, Powder, and Syrup), Application [Food & Beverages (Dairy & Frozen Desserts, Bakery & Confectionery, Beverages, and Others), Pharmaceuticals, and Others], and Region (North America, Europe, Asia-Pacific, and RoW)– Forecast 2027
|ID: VPR/F&B/1049||Publishing Year: November 2021||Pages: 72||Format:|
Industrial Sugar Market Overview:
The Industrial Sugar Market is likely to be driven by the expanding global cultivation of sugar crops due to the rise of the food sector and the production of biofuels in the coming years. The economics of production are influenced by advancements in sugar crop farming and trading. During the estimated period, the market is expected to be fueled by the rising trend of packaged food and the wide applications of Industrial Sugar in various sectors. Sugar prices and sugar crop prices have risen dramatically in recent years. The Industrial Sugar Market is growing due to strong expansion in the food industry and increased import-export. However, while growth has differed across the globe, there has been no major shift in consumption.
There are a number of constraints and problems that could stymie market expansion. The market is projected to be restrained by factors such as rising awareness of fattening foods, seasonal sugarcane cultivation, and the availability of sugar substitutes.
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.
Because of the COVID-19 epidemic, the sugar industry's supply chain and input value chain have been disrupted, from raw material acquisition to processing, packaging, and distribution. The Industrial Sugar Market has suffered as a result of COVID-19. The interruption of the supply chain is largely due to trade restrictions and the closure of international borders/ports to combat the spread of new coronavirus. Sugar prices have fallen due to a decrease in demand from the application industries. Since the outbreak of COVID-19, sugar intake outside the home has decreased. As the epidemic progresses, the global economic recession sets in, leading in a reduction in customer purchasing power.
The expanding importance of sugar in international trade and the importance of sugar in various application sectors to add value to the final product are the primary variables driving the growth of the Industrial Sugar Market. Increased output of sugar cane and sugar beet to fulfil expanding global sugar demand is also propelling the Industrial Sugar Industry Forward. Increased government attempts to stimulate sugar production, such as offering subsidies or abolishing sugar production limitations, are also helping to drive market expansion. However, increased health concerns among the global population have resulted in a shift in demand for alternative sweeteners or sugar replacements in the application industries, posing challenges to the Global Industrial Sugar Market's Growth. Due to fluctuating raw material prices and constantly changing meteorological circumstances, which interrupt the supply of raw materials such as sugarcane and sugar beet, manufacturers of sugar for industrial uses are facing obstacles in their expansion.
The Industrial Sugar Market is divided into industries such as dairy, bakery, confectionery, beverage, canned & frozen foods, and other food items based on application. Due to its wide range of applications and consumption of confectionery items such as marmalade, chewing gum, sweets, candied nuts, chocolates, and chewing gum, confectionery is the largest and fastest expanding segment throughout the forecast period. The expanding population and technology improvements in developing economies are likely to provide a significant contribution to the worldwide market's expansion.
Industrial Sugar is predicted to be a global leader in terms of market share. The United States and Europe are the major consumers of these products, and the trend is spreading to developing nations such as Asia-Pacific and Latin America. Producers have recently placed a high demand on developing regions, and the trend of such consumption is spreading to developing countries. In recent years, the Industrial Sugar Industry has seen an increase in demand due to the growing popularity of South African industrial sugar infused products. Nonetheless, the population's expansion and the rate of change in consumption patterns are Driving Demand for Industrial Sugar. In Asia Pacific, however, demand for Industrial Sugar has surged due to rising consumption of confectionary items. As a result of the nutritional revolution compounded by lifestyle changes in developing countries, Asia Pacific Industrial Sugar is predicted to increase at the fastest rate during the forecast period.
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