Global Industrial Sugar Market worth USD 87 Billion by 2031
From 2021 to 2031, the global industrial sugar market is expected to hit USD 87.5 billion, expanding at a CAGR of 5.7%.
It is fueled by factors such as rising average international prices and the importance of international trade, value addition of sugar cane products through integrated sugar complexes focusing on emerging by-products, expanding sugar crop production, growth in the industrial beet sugar market, consumption of packaged food and beverage items, and the use of sugar in healthy products such as low-sugar beverages.
Browse ThinkWise Intelligence's exclusive report, spread through 176 Pages on: GLOBAL INDUSTRIAL SUGAR MARKET, BY SOURCE (BEET SUGAR, CANE SUGAR), BY TYPE (BROWN SUGAR, LIQUID SUGAR, WHITE SUGAR), BY FORM (GRANULATED, POWDERED, SYRUP), BY APPLICATION (BAKERY, BEVERAGE, CANNED & FROZEN FOODS, DAIRY, PHARMACEUTICAL, OTHERS): GROWTH POTENTIAL ANALYSIS REPORT, COMPETITIVE LANDSCAPE & FORECAST, 2021 - 2031
The white sugar segment is expected to rise at the fastest pace during the coming years
The most popular form of sugar used around the world is white sugar. Demand for industrial sugar is driven by the rising retail market and the expansion of different manufacturers' product portfolios across various end-use applications such as bakery, confectionery, and dairy. Increased demand for industrial sugar has resulted from an increase in demand for sugar imported to manufacture consumer goods.
The granulated sugar segment is expected to rise at the fastest pace over the projected period
The most popular form of sugar is granulated sugar. It's a crystallized type of sugar used in a variety of foods depending on the product's needs. The confectionery and candy industries are driving the growth of the granulated sugar market. Granulated sugar is often cheaper to store and transport than other types of industrial sugar.
The Asia-Pacific region is expected to expand at a significant pace till 2031
During the projection period, Asia-Pacific is expected to grow at the fastest rate. Rapid urbanization and increasing disposable incomes have fueled a rise in food consumption in developing economies, which has coincided with a significant structural and dietary change away from staples and toward packaged foods.
The product portfolios of prominent companies in the Global Industrial Sugar Market such as Cargill Incorporated, Archer Daniels Midland, Raizen SA, Sudzucker AG, and Tereos are presented in this report, along with their marketing and development strategies.