The global sugar market reached a volume of 193.2 Million Tons in 2020. 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. Looking forward, IMARC Group expects the global sugar market to continue to grow during the forecast period (2021-2026).
Global Sugar Market Drivers:
As compared to its substitutes, sugar is more economical and easily available It is consumed across all socioeconomic age groups and is easily obtainable across the globe in a variety of retails formats viz. convenience stores, departmental stores, supermarkets/hypermarkets, etc.
The global food and beverage industry is relatively immune to any downturns caused by economic fluctuations. As a result, the sector has witnessed a constant growth over the past few years. Currently, the food and beverage sector is a major driver of sugar consumption and is expected to create a positive impact on the sugar industry. Moreover, the market growth is anticipated to continue in the long term.
Sugar finds numerous applications in the pharmaceutical and skincare industry. In the pharmaceutical sector, it is included in the preparation of antibiotics and cough syrups, on the other hand, in the skincare sector, sugar is used in the manufacturing of scrubs owing to its exfoliating properties.
Although the sugar market remains saturated in developed economies, such as North America and Western Europe, it is showing a promising growth in the emerging regions. Driven by rising disposable incomes, urbanisation and changing food habits, the demand for sugar-based products in developing markets, such as India, China and Middle East, is showing a strong growth.
Majority of the global sugar production comes from sugarcane, whereas, remaining from sugar beet. Raw materials for sugar are available across the globe with nearly all tropical and subtropical regions accounting for their cultivation.
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:
Mitr Phol Sugar Corporation., Ltd.
Associated British Foods
Wilmar International Limited
Thai Roong Ruang Group
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:
How has the global sugar market performed so far and how will it perform in the coming years?
What are the key regional markets in the global sugar industry?
What has been the impact of COVID-19 on the global sugar market?
What are the major end-use sectors in the global sugar industry?
What are the various forms in the global sugar industry?
What are the major source types in the global sugar industry?
What are the popular product types in the global sugar industry?
What are the price trends of sugar?
What are the various stages in the value chain of the global sugar industry?
What are the key driving factors and challenges in the global sugar industry?
What is the structure of the global sugar industry and who are the key players?
What is the degree of competition in the global sugar industry?
What are the profit margins in the global sugar industry?
What are the key requirements for setting up a sugar manufacturing plant?
How is sugar manufactured?
What are the various unit operations involved in a sugar manufacturing plant?
What is the total size of land required for setting up a sugar manufacturing plant?
What are the machinery requirements for setting up a sugar manufacturing plant?
What are the raw material requirements for setting up a sugar manufacturing plant?
What are the packaging requirements for sugar?
What are the transportation requirements for sugar?
What are the utility requirements for setting up a sugar manufacturing plant?
What are the manpower requirements for setting up a sugar manufacturing plant?
What are the infrastructure costs for setting up a sugar manufacturing plant?
What are the capital costs for setting up a sugar manufacturing plant?
What are the operating costs for setting up a sugar manufacturing plant?
What will be the income and expenditures for a sugar manufacturing plant?
What is the time required to break-even?