The global sugar market reached a volume of 187.9 Million Tons in 2018. The market is further projected to reach 199.6 Million Tons by 2024, expanding at a CAGR of nearly 1% during 2019-2024. 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.
Global Sugar Market Drivers:
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.
Key Questions Answered in This Report:
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