Redding, California - June 25, 2024
Industrial Sugar Market to Reach $60.19 Billion by 2031
Industrial Sugar Market Size, Share, Forecast, & Trends Analysis by Type (White, Liquid, Brown), Source (Sugarcane, Sugar Beet), Form (Granulated, Powdered, Syrup), Application (Food & Beverage, Pharmaceutical, Personal Care) - Global Forecast to 2031
Meticulous Research®—a leading global market research company, published a research report titled ‘Industrial Sugar Market Size, Share, Forecast, & Trends Analysis by Type (White, Liquid, Brown), Source (Sugarcane, Sugar Beet), Form (Granulated, Powdered, Syrup), Application (Food & Beverage, Pharmaceutical, Personal Care) - Global Forecast to 2031.’
According to this latest publication from Meticulous Research®, the industrial sugar market is projected to reach $60.19 billion by 2031, at a CAGR of 3% from 2024 to 2031. The growth of the industrial sugar market is primarily driven by the increasing consumption of processed food & beverage products, the rising demand for confectionery products, and the low cost & high availability of industrial sugar. However, consumers’ increasing preference for sugar substitutes, the rising prevalence of chronic diseases such as diabetes, and the imposition of sugar tax in various countries restrain the growth of this market.
Furthermore, technological advancements in sugar processing and the increasing use of natural & organic sugar in the pharmaceutical & personal care industries are expected to generate growth opportunities for the players operating in this market. However, the increasing cost of sugar production and fluctuations in raw material supply are major challenges in the industrial sugar market.
Additionally, the increasing adoption of organic and clean-label products is a key trend in the industrial sugar market.
Key Players:
The industrial sugar market is characterized by moderate competition due to the presence of many large and small global, regional, and local players. The key players operating in the industrial sugar market are Südzucker AG (Germany), Associated British Foods plc (U.K.), Rogers Sugar Inc. (Canada), United States Sugar Savannah Refinery, LLC (U.S.), Tereos Group (France), Mitr Phol Sugar Company Limited (Thailand), American Crystal Sugar Company (U.S.), Louis Dreyfus Holding B.V. (Netherlands), Cargill, Incorporated (U.S.), ARCHER-DANIELS-MIDLAND COMPANY (U.S.), Nordzucker AG (Germany), E.I.D. - Parry (India) Limited (India), Michigan Sugar Company (U.S.), and Nile Sugar (Egypt).
The industrial sugar market is segmented by type (white sugar, brown sugar, and liquid sugar), source (sugarcane, sugar beet, and other sources), form (granulated, powdered, and syrup), application (food & beverage {beverages, confectionary products, bakery products, dairy products, and other food & beverage applications}, pharmaceutical, biofuel, chemical, personal care, and other applications), and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa). The study also evaluates industry competitors and analyzes the market at the regional and country levels.
Based on type, the industrial sugar market is segmented into white sugar, brown sugar, and liquid sugar. In 2024, the white sugar segment is expected to account for the largest share of 75.0% of the industrial sugar market. The large market share of this segment can be attributed to the affordability and easy accessibility of white sugar, its significant use in food and beverage manufacturing, technological advancements in the production of white sugar, and the high versatility of white sugar, which makes it suitable for various culinary and industrial applications.
Based on source, the industrial sugar market is segmented into sugarcane, sugar beet, and other sources. In 2024, the sugarcane segment is expected to account for the largest share of 79.1% of the industrial sugar market. The large market share of this segment can be attributed to the increasing cultivation of sugarcane, the high yield of sugar with sugarcane, and the high affordability and availability of sugarcane for sugar manufacturers. In addition, sugarcane is a rich source of sucrose, which makes it an ideal raw material for sugar production.
Based on form, the industrial sugar market is segmented into granulated, powdered, and syrup. In 2024, the granulated segment is expected to account for the largest share of the industrial sugar market. The large market share of this segment can be attributed to the easy availability, the wide range of F&B applications, and the ease of handling & transporting granulated sugar. In addition, a large number of manufacturers produce sugar in the granulated form, which is also relatively inexpensive compared to other forms. This further supports the adoption of granulated sugar.
Based on application, the industrial sugar market is segmented into food & beverage, pharmaceutical, biofuel, chemical, personal care, and other applications. In 2024, the food & beverage segment is expected to account for the largest share of 75.0% of the industrial sugar market. The large market share of this segment can be attributed to the increasing demand for processed food products and ready-to-eat (RTE) and ready-to-cook (RTC) food products, and the high use of sugar in confectionery and beverages, including sodas, energy drinks, and fruit juices. Sugar is a key ingredient in various food products, especially confectionery products where its concentration ranges from 85% to 99%.
Geographic Review
This research report analyzes major geographies and provides a comprehensive analysis of the industrial sugar market in North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, Indonesia, Malaysia, and Rest of Asia-Pacific), Latin America (Brazil, Argentina, Mexico, and Rest of Latin America), and the Middle East & Africa (South Africa, Saudi Arabia, UAE, Egypt, and Rest of Middle East & Africa).
Based on geography, the industrial sugar market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest share of 34.5% of the industrial sugar market, followed by North America and Europe. The industrial sugar market in Asia-Pacific is expected to reach a value of $3.08 billion in 2024. Moreover, Asia-Pacific is also slated to register the highest growth rate of 3.3% during the forecast period. The large share and high growth of this regional market can be attributed to the growing demand for processed food products and beverages, owing to population growth, rapid urbanization, and changing lifestyles. Also, the abundant availability of raw materials, the presence of major sugar producers, the growing number of food & beverage product manufacturers, and high sugar consumption in APAC support the region’s dominant position in the industrial sugar market.
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Key Questions Answered in the Report:
- What is the revenue generated from the sale of industrial sugar products?
- At what rate is the global demand for industrial sugar projected to grow for the next 5-7 years?
- What is the historical market size and growth rate for the industrial sugar market?
- What are the major factors impacting the growth of this market at the global and regional levels?
- What are the major opportunities for existing players and new entrants in the market?
- Which type, source, form, and application segments are creating major traction for the manufacturers in this market?
- What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the industrial sugar market?
- Who are the major players in the industrial sugar market? What are their product offerings?
- What are the recent key developments in the industrial sugar market? What are the impacts of these developments?
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