Future of Industrial Sugar: Trends and Revenue Projections to 2030
Industrial Sugar Market Overview
The industrial sugar market is anticipated to grow at a compound annual growth rate (CAGR) of 4.8% to reach USD 58.65 billion by 2030.
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Industrial Sugar Market Regional Insights
Regional analysis is conducted to assess the status of the Industrial Sugar market in countries belonging to North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. The report provides a comprehensive analysis of several factors such as market size, growth rate, and import-export activities, across different regions. The Industrial Sugar market is segmented broadly into these regions, allowing for a detailed understanding of the market landscape and dynamics in each geographical area.
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Industrial Sugar Market Segmentation :
by Type
White Sugar
Brown Sugar
Liquid Sugar
The segment is separated into three categories: liquid, brown, and white. White industrial sugar is most frequently consumed and sold in this market category. The global white sugar market is projected to increase at a compound annual growth rate (CAGR) of 3.1% from its 2022 valuation of US$72310 million to US$77650 by the end of 2029. On the other hand, brown sugar, which comes in jars and sachets, is widely used in western nations. The market for brown sugar is anticipated to grow at a CAGR of 8.11%. during the time frame for the forecast.
by Form
Granulated
Powdered
Syrup
Because of its unmatched adaptability and wide range of uses, the granulated sugar segment led the worldwide industrial sugar market, with almost 50% of the market share in 2023. A major contributor to granulated sugar's dominance is its extensive use in a variety of sectors. It is a basic ingredient in the food and beverage industry, used in anything from sauces and confections to baked products and beverages. By supplying big quantities for a variety of uses, major industry players like Cargill and Ingredion Incorporated take advantage of the strong demand for granulated sugar. Granulated sugar's popularity is further supported by its easy dissolution, consistent shelf life, and adaptability for both industrial and household applications. The granulated form is also necessary for food preparation.
by Source
Sugar Cane
Sugar Beet
Others
The portion is separated into two parts: beet sugar and sugar cane. The market is dominated by the sugar cane segment, which is expected to reach a valuation of over US$75 billion by the end of the projection period. This presents a huge potential for all parties involved. In 2022, APEJ made up just under two-fifths of the sales, and this percentage is probably going to rise. Companies are encouraged not to completely disregard beet sugar in favor of sugar cane because it accounts for 25% of the industrial sugar market's revenue share. The MEA region is thought to have experienced the greatest change in terms of CAGR.
by Application
Dairy
Bakery
Confectionary
Beverages
Pharmaceuticals
Others
Dairy products, bakery and confections, drinks, canned and frozen foods, miscellaneous food items, and pharmaceuticals are the categories into which the segment is divided. The market is dominated by the food and beverage segment, which has the biggest market share and was valued at $5838.8 billion in 2022 with a 6.1% compound annual growth rate.
