The Industrial Sugar Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Industrial Sugar Global Market Report 2024, The industrial sugar market size has grown strongly in recent years. It will grow 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..
The industrial sugar market size is expected to see strong growth in the next few years. It will grow to $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.. Major trends in the forecast period include health and wellness trends, demand for natural and clean-label products, technological innovations in processing, rise in low-calorie sweeteners, diversification of sugar applications..
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. For instance, in August 2023, according to the Department of Agriculture, Fisheries, and Forestry, an Australia-based government division, dairy exports are anticipated to grow by 2% in 2023–24, to 679 kilotonnes, an increase from 663 kilotonnes in 2022–23. Therefore, the rise in demand for confectionery products such as dairy items is driving the growth of the industrial sugar market.
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The industrial sugar market covered in this report is segmented –
1) Industrial Sugar Market By Type: White Sugar, Brown Sugar, Liquid Sugar
2) Industrial Sugar Market By Source: Cane, Beet
3) Industrial Sugar Market By Form: Granulated, Powder, Syrup
4) Industrial Sugar Market By Application: Dairy, Bakery, Confectionary, Beverages, Frozen Foods, Other Applications
Top Major Players
Technological innovations have emerged as a key trend gaining popularity in the industrial sugar market. Major companies operating in the industrial sugar market are focused on developing new innovative technologies to strengthen their position in the market. For instance, in March 2022, Cargill, a US-based food corporation and a producer of industrial sugar, introduced the EverSweet + ClearFlo Stevia Platform, a first-of-its-kind stevia-boosting technology. The unique feature of the platform is that it incorporates the company’s top sweetener as well as other natural flavors. Due to Cargill’s ClearFlo technology, EverSweet, a stevia-based sweetener, serves as a platform for other natural flavors. This mixture can improve flavor, solubility, formulation stability, and dissolution speed. The novel sweetening technique can also help reduce undesirable flavors that may be present in a formulation, such as bitter coffee flavors, earthy protein notes, or metallic tastes from potassium chloride.
The industrial sugar market report table of contents includes:
1. Executive Summary
2. Industrial Sugar Market Characteristics
3. Industrial Sugar Market Trends And Strategies
4. Industrial Sugar Market – Macro Economic Scenario
5. Global Industrial Sugar Market Size and Growth
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31. Global Industrial Sugar Market Competitive Benchmarking
32. Global Industrial Sugar Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Industrial Sugar Market
34. Industrial Sugar Market Future Outlook and Potential Analysis
35. Appendix
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