Meticulous Research® has released a comprehensive 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”. The report
forecasts the industrial sugar market to grow from $60.19 billion by 2031, at a
compound annual growth rate (CAGR) of 3.0% from 2024 to 2031.
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The report highlights several key drivers for the growth of
the industrial sugar market. These include the rising consumption of processed
food and beverage products, increased demand for confectionery items, and the
low cost and high availability of industrial sugar. However, the market faces
challenges such as consumers' growing preference for sugar substitutes, the
increasing prevalence of chronic diseases like diabetes, and the imposition of
sugar taxes in various countries.
Technological advancements in sugar processing and the
growing use of natural and organic sugar in pharmaceutical and personal care
industries are expected to provide significant growth opportunities for market
players. On the other hand, rising production costs and fluctuations in raw
material supply present major challenges.
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Key Findings:
- The white
sugar segment is projected to grow at the highest CAGR during the
forecast period due to increasing demand for processed foods,
pharmaceuticals, and personal care products.
- The sugarcane
segment is anticipated to hold the largest market share in 2024,
representing 79.1% of the market, owing to its high sucrose content and
cost-effectiveness.
- Granulated
sugar is expected to dominate the market in 2024 due to its widespread
use and affordability.
- The food
& beverage segment is forecasted to account for the largest share
of 75.0% in 2024, driven by the high use of sugar in various food and
beverage products.
- In
terms of geography, Asia-Pacific is expected to hold the largest
share of 34.5% in 2024 and register the highest growth rate of 3.3% due to
its expanding population, urbanization, and growing food and beverage
sector.
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Key Players:
The report provides an in-depth analysis of leading market
participants, including 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).
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