Industrial Sugar Market worth US$ 71.7 Billion 2029 with a CAGR of 5.2%
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Industrial Sugar Market is projected to grow from US$ 45.1 billion
in 2019 to US$ 71.7 billion by 2029. The global industrial sugar market is
expected to register moderate growth over the forecast period. This is
attributed to increasing demand for
industrial sugar from end-use applications such as confectionary, cereal,
dairy, bakery, pharmaceutical, and beverage industries.Re-use of by-products
such as bagasse, mud or filter cake of industrial sugar is expected to create lucrative growth
opportunities for new as well as existing players to gain competitive edge.
The
report " Industrial Sugar Market, by Type (White Sugar, Brown Sugar, and
Liquid Sugar), by Form (Granulated, Powdered, and Syrup), by Application
(Dairy, Bakery, Confectionery, Beverage, Canned and Frozen Foods,
Pharmaceuticals, and Other Food Items), by Source (Cane Sugar and Beet
Sugar), and Region - Forecast to
2029"
Key Highlights:
·
In October 2016, Raizen SA and Wilmar International Ltd
announced new strategic partnership that will
combine the strengths of Brazil’s largest producer of sugar with one of
the largest trader of the commodity.
Key Market Insights from the
report:
The global industrial sugar market accounted for
US$ 45.1 billion in 2019 and is projected to register a moderate CAGR of 5.2%
over the forecast period. The market report has been segmented on the basis of
type, form, application, source, and region.
·
By type, the white sugar segment accounted for major revenue
share in 2019, owing to increasing demand for confectionery products, growing
retail market, and expansion of product portfolio.
·
By form, the granulated form holds for major revenue share in
2019. This is due to granulated form used as a preservative for different
end-use applications such as marmalades, candied fruits, and jams.
·
By application, the confectionery holds for major
revenue share in 2019, owing to industrial sugar is use in a wide variety of
applications and consumption of confectionery products such as chewing gum,
sweets, marmalade, candied nuts, chocolates, and chewing gum.
·
By source, the cane sugar is segment accounted for major
revenue share in 2019, attributed to production of cane sugar is higher than
beet sugar across the globe.
·
By region, Asia Pacific industrial sugar market accounted for major revenue share of the
global industrial sugar market and is further anticipated to maintain its
dominance over the forecast period, owing to India is one of the largest consumers of
industrial sugar due to urbanization. The market in Latin America is expected to
account for second-highest revenue share in 2019.
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The prominent player operating in the global
industrial sugar market includes Cargill Incorporated, Archer Daniel Midland,
Raizen SA, Sudzucker AG, Tereos SA, Mitr Phol Sugar Corporation Limited, Louis
Dreyfus Holding B.V., Wilmar International Ltd, Cosan SA Indústria e Comércio,
American Crystal Sugar Company, and E.I.D.- Parry (India) Limited.
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