Key Industrial Sugar Market Players Growth | Competitive Landscape and Forecasts to 2030
Industrial Sugar Market Overview:
Industrial sugar is a commodity produced using sugar cane
and beet root. It is used across various end-use industries in its
formulations. The global industrial sugar market report compiled by Market
Research Future (MRFR) consists of drivers, challenges, trends, opportunities,
and threats to be faced by industry leaders for the period of 2022 to 2030
(forecast period). The impact of the COVID-19 virus on the market and its
implications are recorded as well.
Market Scope:
The global Industrial
Sugar Market size is bound to reach a valuation of USD 63
billion by 2030. It can display a CAGR of 5.60% over the forecast period. It is
expected to expand owing to its demand from applications of cereals, bakery
products, dairy items, and assorted confectionery. The growth is facilitated by
the vast growth of the agriculture sector and displayed by high cultivation of
sugar cane. Government efforts for promoting the production of sugar via
subsidies are likely to bode well for the market.
Food safety concerns can evoke the need for transparency
towards customers and strict labeling policies. Agencies such as Food Safety
and Standards Authority of India (FSSAI) have enforced guidelines for sugar
manufacturers for revealing the sugar content and making consumer aware.
Campaigns of sustainability in developing countries have led to manufacturers
shifting to flexible packaging for sugar and sugar-based products.
The COVID-19 impact on the global industrial sugar market
has been grave owing to trade restrictions and enforcement against procurement,
production, and distribution. This has in turn dipped the prices of sugar. In
addition, the shift of manufacturers to healthy alternatives amid health
concerns during the lockdown period can lead to restructuring of strategies
among industrial sugar manufacturers.
The global industrial sugar market is facing a challenge
owing to presence of sugar substitutes and alternative sweeteners.
Segmentation:
The global industrial sugar market has been segmented by
type, source, form, and application.
By type, the global industrial sugar market has been divided
into brown sugar and white sugar.
The global industrial sugar market has also been segregated,
based on source, into beet, sugarcane, sugar, and others.
Based on form, the market is segmented into syrup, granules,
and powder.
By application, the global industrial sugar market has been
classified into food & beverages, pharmaceuticals, and others. The food
& beverages segment is further sub-segmented into beverages, dairy &
frozen desserts, bakery & confectionery, and others. Among food &
beverages, the bakery & confectionery segment is expected to reap huge dividends
during the forecast period.
Regional Analysis:
The global industrial sugar market has been studied with
regard to four key regions—North America, Europe, Asia Pacific (APAC), and
Rest-of-the-World (RoW).
APAC is predicted to lead in the global market till the end
of the forecast period. This can be attributed to many sugarcane and beet
growing nations in the region. Presence of various application industries,
large disposable income levels, key players, and high consumption of sugar
among consumers are other drivers of the global industrial sugar market
regionally. Abundance of raw materials in India, Indonesia, and China can
positively impact the market.
Competition Outlook:
COFCO Tunhe Co., Ltd., Rajshree Sugars, Imperial Sugar
Company, Guangxi Funan East Asia Sugar Co., Ltd, Michigan Sugar, Tereos ,
Cargill, Guangxi Guitang Group Co., Ltd, Sudzucker Group, British Sugar, Rizhao
Lingyunhai Sugar Group, Shree Renuka Sugars, Rogers Sugar Inc, Guangxi Fengtang
Biochemistry Co., Ltd., Upper Ganges Sugar & Industries, Bannari Amman
Sugars Limited, Guangxi Guitang Group Co., Ltd, Bajaj Hindustan Limited, and
Rana Sugars the global Key
Industrial Sugar Market Players.
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