Market: An Overview
The industrial sugars market is predicted to record a moderate CAGR of 4.7% for the five-year study from 2017 to 2023.
The industrial sugar market is a global market that includes the production and sale of sugar for industrial uses such as food processing, pharmaceuticals, and cosmetics. Industrial sugar is primarily derived from sugar cane or sugar beets and is sold in bulk quantities to manufacturers. The market is highly competitive and is dominated by large players such as Cargill, Archer Daniels Midland, and Sudzucker.
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Drivers and Restraints:
Market Drivers: The demand for industrial sugar is primarily driven by the growth of industries such as food processing, pharmaceuticals, and cosmetics. The increasing popularity of natural and organic products has led to a growing demand for organic and non-GMO industrial sugar. Additionally, the increasing population and urbanization have resulted in higher demand for packaged food products, which use industrial sugar as an ingredient.
Market Restraints: The industrial sugar market faces several challenges, including increasing competition from alternative sweeteners such as high-fructose corn syrup and artificial sweeteners. The growing concerns over the health impacts of consuming large amounts of sugar have led to calls for reduced consumption, which could impact demand in the long term.
Market Segmentation:
The global industrial sugar market can be segmented based on product type, application, and region.
Based on product type, the market can be segmented into granulated sugar, powdered sugar, and syrup.
Based on application, the market can be segmented into food and beverage, pharmaceuticals, and cosmetics.
Geographically, the market can be segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
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Regional Analysis:
North America and Europe are the largest markets for industrial sugar, driven by the high demand for processed food and beverages in these regions. The Asia-Pacific region is expected to be the fastest-growing market due to the increasing population and urbanization in countries such as China and India.
Competitive Landscape:
The report has profiled some of the prominent companies in the industrial sugar market. They include Suedzucker AG, Associated British Foods, Tereos Internacional, Mitr Phol Sugar Corporation,
Louis Dreyfus Holding, Wilmar International, American Crystal Sugar Company, E.I.D.-Parry (India) Ltd., Shree Renuka Sugars, and Cosan SA Indústria e Comércio.
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Future Outlook:
The industrial sugar market is expected to grow at a moderate rate in the coming years, driven by the growth of industries such as food processing, pharmaceuticals, and cosmetics. However, the increasing competition from alternative sweeteners and the growing concerns over the health impacts of consuming large amounts of sugar may impact the growth of the market in the long term. Additionally, the increasing demand for organic and non-GMO industrial sugar may provide growth opportunities for the market.
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