Meticulous Research® has released a new market 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
the report, the industrial sugar market is projected to reach $60.19 billion by
2031, growing at a CAGR of 3.0% from 2024 to 2031.
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Market Growth Drivers and Challenges
The growth of the industrial sugar market is primarily driven by the
increasing consumption of processed food and beverage products, the rising
demand for confectionery items, and the low cost and high availability of
industrial sugar. Despite these drivers, the market faces challenges such as
growing consumer preference for sugar substitutes, rising prevalence of chronic
diseases like diabetes, and the imposition of sugar taxes in various countries.
Technological advancements in sugar processing and the increasing
use of natural and organic sugar in the pharmaceutical and personal care
industries present significant growth opportunities for market players.
However, rising sugar production costs and fluctuations in raw material supply
remain key challenges.
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Key Market Trends
The market is witnessing a notable trend towards the adoption of
organic and clean-label products. This shift reflects consumers' increasing
focus on health and sustainability.
Regional Insights
In 2024, Asia-Pacific is expected to dominate the industrial sugar
market with a share of 34.5%, followed by North America and Europe. The
region's dominance is attributed to high demand for processed foods and
beverages, rapid urbanization, and significant sugar consumption.
Key Findings
- White
Sugar is projected to register the highest
CAGR during the forecast period due to rising demand for processed foods
and increasing use in pharmaceuticals and personal care products.
- Sugarcane is expected to hold the largest market share of 79.1% in 2024
due to its high sucrose content and affordability.
- Granulated
Sugar is anticipated to lead the market in
2024 due to its wide range of applications and ease of handling.
- Food
& Beverage will account for the largest
market share of 75.0% in 2024, driven by the increasing demand for various
food products, including confectionery and beverages.
- Asia-Pacific is poised to achieve the highest growth rate of 3.3% during
the forecast period, supported by population growth and rapid
urbanization.
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Key Market Players
The report includes a comprehensive assessment of leading market
players, including Südzucker AG (Germany), Associated British Foods plc (U.K.),
Rogers Sugar Inc. (Canada), Tereos Group (France), Cargill, Incorporated
(U.S.), and others. The industrial sugar market has seen several product
launches, partnerships, and collaborations in recent years.
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