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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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