Sugar Market: Global Industry Trends, Share, Size, Growth, Region by Demand and Forecast Till 2024

Global Sugar Market Research Report and Forecast 2024

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Report Description Global Sugar Market Overview:

According to the latest report by IMARC Group, titled “ Sugar Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024�, the global sugar market size reached 187.9 Million Tons in 2018. Sugar is a class of carbohydrate found naturally in most fruits and vegetables, milk and dairy products, malted drinks, and honey. Some of the most common types of sugar are sucrose, lactose, maltose, fructose and glucose. Sucrose, or table sugar, is the most popular type of sugar and is employed across various industry verticals. It is mostly used in the food and beverage industry to balance acidity, add bulk or prevent spoilage in addition to providing sweetness.

Sugar Market Trends Sugar is consumed across all socioeconomic groups as it is more economical and readily available as compared to its substitutes. Besides this, it is an essential and versatile food ingredient which helps to prolong the shelf life of food items and delays the change of proteins to a semi-solid state. In addition to this, sugar acts as a preservative and anticoagulant which prevents the growth of bacteria, yeast and molds. Further, it finds applications in industries ranging from pharmaceutical, personal care to industrial and automotive.

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157.3 146.7 152.0 141.4 136.1 125.5 130.8

160 140 120 100 80 60 40 20 0

120.2 2011

2012

2013

2014

2015

2016

2017

2018

In Million US$

in Million US$

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180 160 140 120 100 80 60 40 20 0

160.0 2019

175.9

181.2

186.5

165.3

170.6

2020

2021

2022

2023

2024

For instance, in beauty and cosmetics products, sugar is used for its exfoliating and moisturizing properties. Continuous growth in these end use industries is expected to drive the demand for sugar worldwide. Looking forward, the market volume is projected to reach 199.6 Million Tons by 2024, registering a CAGR of nearly 1% during 2019-2024.

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While in the healthcare industry, it is utilized for coating, flavoring and enhancing the texture of medicines. In the industrial and agricultural sectors, sugar helps in making furfural, an organic compound useful in the production of cement, herbicides, adhesives and coatings.

Sugar Market Segmentation: Market Segmentation by Type • • •

White Sugar Brown Sugar Liquid Sugar

Based on the type, white sugar is the most popular product, accounting for the majority of the total market share. Some of the other major product types include brown sugar and liquid sugar.

Market Segmentation by Form • •

Granulated Sugar Powdered Sugar

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Syrup Sugar

The market has also been categorized based on the form into granulated, powdered and syrup sugar.

Amongst these, granulate sugar represents the leading segment.

Market Segmentation by End-Use Sector • • •

Food and Beverages Pharma and Personal Care Household

On the basis of the end use sector, the market is divided into food and beverages, pharma and personal care, and household. The food and beverages sector currently dominates the market, holding the largest market share.

Market Segmentation by Region • •

Brazil India

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United States European Union China Thailand

Region-wise, Brazil exhibits a clear dominance in the global sugar market. Other major markets for sugar are India, United States, European Union, China and Thailand.

Market Segmentation by Source • •

Sugarcane Sugar Beet

Based on the source, the market has been segregated into sugar cane and sugar beet. At present, sugar cane enjoys the leading position in the market.

Competitive Landscape: •

Suedzucker AG

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Tereos Cosan Mitr Phol Sugar Corporation., Ltd. Associated British Foods Nordzucker AG Biosev (Louis-Dreyfus) Wilmar International Limited Thai Roong Ruang Group

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