Global Sugar Market Analysis, Price Trends and Regional Growth Forecast by 2027
by Zayn Mathew Market Research ReportsAccording to new research report, the global sugar market reached a volume of 185 Million Tons in 2021. Looking forward, IMARC Group expects the market to reach 206.6 Million Tons by 2027, exhibiting a CAGR of 1.8% during 2022-2027.
Global Sugar Market Trends:
The global market is primarily driven by significant growth in the food and beverage industry. Sugar is an indispensable ingredient in this industry, owing to its diversified applications. Hectic working schedules, inflating disposable income levels and shifting dietary patterns of the masses have contributed to the sales of convenience foods, which usually have a high amount of sugar as a key ingredient. Furthermore, rapid urbanization and globalization have led various international players to expand their chains in developing economies. This, along with the growing preference for online food delivery services, is providing a thrust to the market growth. Sugar also finds applications in the pharmaceutical industry for the preparation of antibiotics and syrup-based medicines. In line with this, the increasing prevalence of chronic and lifestyle diseases is driving the growth of the pharmaceutical industry, thereby facilitating the uptake of sugar. Moreover, it is also used in the preparation of scrubs in the skincare industry, owing to its exfoliating properties. Furthermore, organic cane sugar is also gaining widespread preference among consumers. Favorable regulatory policies pertaining to sugar production, the easy availability across various distribution channels and abundance of raw materials are some of the other factors contributing to the market growth. On account of the aforementioned factors, the market is expected to reach a volume of 199.5 Million Tons by 2025, growing at a CAGR of 1% during 2020-2025.
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Insights on Market Segmentation:
Market Segmentation by Type
- White Sugar
- Brown Sugar
- Liquid Sugar
Market Segmentation by Form
- Granulated Sugar
- Powdered Sugar
- Syrup Sugar
Market Segmentation by End-Use Sector
- Food and Beverages
- Pharma and Personal Care
- Household
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Market Segmentation by Source
- Sugarcane
- Sugar Beet
Market Segmentation by Region
- Brazil
- India
- United States
- European Union
- China
- Thailand
- Others
Competitive Landscape
The competitive landscape of the market has also been examined with some of the key players being Suedzucker AG, Tereos, Cosan, Mitr Phol Sugar Corporation., Ltd., Associated British Foods, Nordzucker AG, Biosev (Louis-Dreyfus), Wilmar International Limited and Thai Roong Ruang Group.
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Created on Jun 4th 2020 07:35. Viewed 285 times.