The global industrial sugar market is expected to witness a growth by a moderate CAGR during the forecast period, i.e., 2021-2029. This can be attributed to the growing demand for sugar for confectionary, dairy and other applications and the rising sugar consumption worldwide.
The International Sugar Organization states that the worldwide sugar consumption increased from 123.454 million tonnes to 172.41 million tonnes from 2001 to 2018.
Research Nester has released a report titled “Industrial Sugar Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the global industrial sugar market in terms of market segmentation by type, form, application, source, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
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Based on type, the market is segmented into white sugar, brown sugar, and liquid sugar. Out of these, the segment for white sugar is expected to cover a significant portion of the industrial sugar market size owing to its extensive use worldwide. Along with this, white sugar is considerably cheaper than other types of sugar, which in turn is estimated to further the growth of this segment.
Geographically, the global industrial sugar market is segmented into North America, Europe, Asia Pacific, Latin America and the Middle East & Africa regions. The Asia Pacific market is expected to lead the market by registering the highest market share in 2021, which can be credited to the large-scale sugar consumption and presence of climatic conditions favourable for the growth of raw materials required to produce industrial sugar.
Industrial sugar is one of the most important commodities all over the globe. On account of the rise in average international prices along with ease on trade restrictions, the market is expected to observe a significant growth during the forecast period. Moreover, as the population of the world increases, there is a rising demand for sugar owing to its versatility of use. Sugar acts as a functional ingredient in food, production of medications and manufacture of wellness products. This market growth is further enhanced by the increasing consumption of sugar-based products, backed by the rising promotional activities of these products by the leading players in the food & beverage industry.
However, rising awareness on the negative effects of excessive sugar usage is projected to be a significant restraint towards the growth of this market.
This report also provides the existing competitive scenario of some of the key players of the global industrial sugar market which includes company profiling of Cargill, Incorporated, The Tereos Group, Nordzucker AG, E.I.D.- Parry (India) Limited (NSE: EIDPARRY), Südzucker AG (ETR: SZU), Archer Daniels Midland Company (NYSE: ADM), Louis Dreyfus Company B.V., Raizen Energia S.A., Tongaat Hulett Sugar Limited, and British Sugar plc.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global industrial sugar market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.