The global sugar market reached a volume of 193.2 Million Tons in 2020. Looking forward, IMARC Group expects the market to continue to grow during the forecast period (2021-2026). Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end-use industries. These insights are included in the report as a major market contributor.
Sugar refers to a sweet crystalline substance which is prepared from sugar cane and sugar beet. It is used across the globe for innumerable food and non-food applications. In addition to offering a sweet taste, sugar performs a variety of other functions in the food industry. It is used as a preservative and prevents the development of microorganisms. It is also used for preventing formation of large ice crystals in frozen products like ice cream. Apart from this, sugar encourages fermentation in products which contain yeast. Moreover, it is used in baked goods for retaining moisture and preventing staleness.
IMARC Group provides an analysis of the key trends in each sub-segment of the global sugar market report, along with forecasts for growth at the global, regional and country-level from 2021-2026. Our report has categorized the market based on region, product type, form, end-use sector and source.
Breakup by Product Type:
On the basis of type, the market has been segmented as white sugar, brown sugar and liquid sugar. At present, white sugar accounts for the majority of the market share.
Breakup by Form:
Based on form, the market is divided into granulated sugar, powdered sugar and syrup sugar. Amongst these, granulate sugar represents the biggest segment followed by powdered and syrup sugar.
Breakup by End-Use Sector:
On the basis of end-use sector, the market finds varied end-use in food and beverages, pharma and personal Care and household. Currently, food and beverages holds the largest market share.
Breakup by Source:
Based on source, sugarcane accounts for the majority of the market share, which is followed by sugarbeet.
On a geographical front, Brazil enjoys a leading position in the global sugar market. The sugar industry represents a vital part of the Brazilian economy and accounts for a valuable share in the national GDP. Besides this, Central-South region of Brazil produces a major part of sugar due to favourable climatic conditions. Brazil is followed by India, United States, European Union, China and Thailand and others.
The market is highly fragmented in nature with the presence of several regional as well as large manufacturers who are competing in terms of prices and quality. There prevails a rigid competition in the market which makes it difficult for small players to enter. Some of the leading players operating in the market are:
This report provides a deep insight into the global sugar market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up a sugar manufacturing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the sugar industry in any manner.
The global sugar market size reached a volume of 193.2 Million Tons in 2020.
According to the estimates by IMARC Group, the global sugar market is expected to witness a CAGR of 0.7% from 2021 to 2026.
The growing demand for sugar-based products in food and beverages sector with rising consumer disposable incomes and changing food habits, are some of the key drivers for the global sugar market.
The expanding application of sugar in the pharmaceutical and skincare sectors is one of the key trends in the global sugar market.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary shutdown of numerous manufacturing units and supply chain disruptions of sugar and sugar-based products.
On the basis of the product type, the market has been bifurcated into white sugar, brown sugar and liquid sugar. Among these, white sugar holds the largest market share.
On the basis of the form, the market has been divided into granulated sugar, powdered sugar and syrup sugar. At present, granulated sugar exhibits a clear dominance in the market.
On the basis of the source, the market has been segmented into sugarcane and sugarbeet. Currently, sugarcane represents the largest segment.
On the basis of the end-use sector, the market has been segmented into food and beverages, pharma and personal care, and household. Among these, the food and beverage sector accounts for the majority of the market share.
Region-wise, the market has been classified into Brazil, India, United States, European Union, China and Thailand and others, where Brazil dominates the global market.
The key companies in the global sugar market are Suedzucker AG, Tereos, Cosan, Mitr Phol Sugar Corporation., Ltd., Associated British Foods, Nordzucker AG, Biosev (Louis-Dreyfus), Wilmar International Limited, and Thai Roong Ruang Group.
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