“Industrial sugar market projected to grow at a CAGR of 6.01% during the forecast period.”
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The industrial sugar market is projected to reach a value of USD 52.91 billion by 2022growing at a CAGR of 6.01% from 2016. The growth is primarily supplemented by the rising population and increasing industrial sugar consumption globally.
The major driving factors including growing significance of international trade, new innovative products launch, expanding production of raw materials, and increasing application of industrial sugar is expected to drive the global industrial sugar market in terms of value during the forecast period.
”The confectionery segment of application is projected to be the fastest-growing from 2016 to 2022”
The global market for industrial sugar, by application, is segmented into dairy, bakery, confectionery, beverage, canned & frozen foods, and other food applications.
Among all the application segments, the confectionary segment is expected to grow at the highest CAGR during the forecast period. The developed regions such as North America and Europe are in the mature stage in terms of consumption of confectionery products.
The developing regions such as Asia-Pacific and RoW are in the growth stage, where the consumption of confectionery products has increased, which has led to an increase in the import of industrial sugar for the manufacturers.
“The cane sugar segment of source is projected to be the fastest growing from 2016-2022”
Cane sugar is the most common source of sugar, globally. The demand for cane sugar is higher in the international market, due to demand from consumers and its utilization in various application industries such as bakery, confectionery, beverage, and dairy.
The production of cane sugar is higher in the Asia-Pacific and North America regions.
“Asia Pacific is projected to be the fastest-growing from 2016 to 2022.”
The Asia-Pacific market is expected to grow at the highest rate. According to the Food and Agriculture Organization(FAO), this growing demand is mainly due to “nutritional transition” compounded by lifestyle changes and shifts in the structure of the diet toward a higher energy density diet with a greater role for fat and added sugar in foods.
The breakdown of the primaries on the basis of company, designation, and region conducted during the research study, are as follows:
- By Company Size:Tier 1 – 25%, Tier 2 – 30%, and Tier 3 –45%
- By Designation Level:Director Level – 30%, C Level –26%, and Others–44%
- By Region:North America –34%, Europe –26%, Asia-Pacific –23%, and Row –17%
Major players are as follows:
- Cargill incorporation (U.S.)
- Archer Daniels Midl and (U.S.)
- Raizen SA (Brazil)
- Sudzucker AG (Germany)
- Tereos (France)
Other players that have a strong presence in this market are as follows:
- Nordzucker Group AG (Germany)
- Tongaat Hulett Sugar South Africa Limited (South Africa)
- Illovo Sugar (PTY) Limited (South Africa)
- Dangotte Group (Nigeria)
- E.I.D Parry Limited (India)
Scope of the Report
This report categorizes the global market for industrial sugar on the basis of type, form, application, source, and region. In terms of insights, this research report has focused on industry analysts and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging & high-growth segments of the global industrial sugar market; high-growth regions, countries, and their respective regulatory policies; government initiatives; and drivers, restraints, and opportunities.
Key benefits of downloading this report
- To get an overview of the global industrial sugar market
- To get an overview of the key players of the industrial sugar industry and key strategies adopted by key players to attain market presence
- To gain insights of the major regions with growing industrial sugar market
- To gain knowledge of the growth of various types of industrial sugar.