Global Sugar Market is Forecasted to be more than US$ 53 Billion by the end of year 2027

Globally, sugar refers to a sweet crystalline substance that prepared from sugar cane and sugar beet. Sugar production (whether from cane or beet) is also highly capital intensive, requiring large scale operations to be competitive. Sugar utilised for soft drinks, sweetened beverages, convenience foods, fast food, candy, confectionery, baked products, and other xsweetened foods. Also, sugar used in the distillation of rum. Moreover, sugar is a high profile commodity both politically and in trade in the world's key producing regions.

Sugar consumption in food and pharmaceutical industry will drive & steadily rising crude oil prices and lower global output would support the market

In recent years, the steadily rising crude oil prices and lower global output are expected to provide much-needed support to sugar prices and factors such as sugar consumption in food and pharmaceutical industry will drive this market. However, huge inventories, robust products in the ongoing season and near stagnant domestic demand will cap the price gains. Remarkably, the sugar industry worldwide is a residual market characterised by extreme volatility, which often trades below global production costs. As per Renub Research Analysis, Global Sugar Market will reach to US$ 53 Billion by 2027.

The trending sugar industry subsumes the production, processing and marketing of sugars (principally saccharose and fructose). Globally, most sugar is derived from sugar cane (predominantly in the tropics) and sugar beet (mainly in a temperate climate like in the U.S. or Europe). The revolutionary application of sugar finds numerous applications in the pharmaceutical and skincare industry as well. In the pharmaceutical division, sugar is included in the preparation of antibiotics and cough syrups. On the other hand, sugar is used in scrubs manufacturing due to its exfoliating properties in the skincare sector.

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Our report covers handful of leading producers and their countries' support policies:

World sugar production and trade is dominated by a small number of influential producing countries. The top ten producers reviewed in our report are (Brazil. India, European-Union, Thailand, China, United States, Russia, Mexico, Pakistan and Australia) contribute to over half of global production. More on this, Brazil and India production share will flourish during the forecast period 2020-2027.

Although the sugar market remains saturated in developed economies, such as the United States, Mexico, and the European Union, it shows promising growth in emerging regions. Driven by rising disposable incomes, urbanisation and changing food habits, the demand for sugar-based products in developing markets, such as India and China, confers solid growth.

The Support Policies and Subsidies Prevailing in Sugar Industry Worldwide:

As per our analysis, the global producers, particularly Brazil, Thailand and India, have responded to conditions by developing a substantial mix of policies and subsidies to support domestic production. Collectively these support policies have a profound distortionary effect on the world sugar market. Indeed, the government sugar policies in a handful of countries, notably Brazil, Thailand, and India, substantially impact the world sugar market's supply-demand balance and, consequently, its trading price level. Hence, the sugar industry is not a regular clearing market and cannot be used as a sustainable 'benchmark' to base sugar industry policies or strategies.

News about the Sugar Industry in 2021:

The Hindu Business line reported that sugar prices surged in 2019-20 due to extensively reduced output from India, the EU, and Thailand. Despite this, prices fell more than 30 per cent between February and April 2020 due to COVID-led disruptions and lockdowns. In addition, with unfavourable weather in Brazil and Thailand and a decline in Europe's output, India is focused on delivering a bumper output in the sugar season 2020-21. Moreover, in a global deficit output scenario, sugar prices in India are expected to remain steady, but massive carry-over stocks may cap the gains in prices.

Devastating COVID-19 impact on Global Sugar Industry:

The sugar industry worldwide, a significant player in the national economy, has faced many challenges in its course. The threat modelled by the growing pandemic novel coronavirus (COVID-19) has been the most recent one, and it is impacting sugar industry stakeholders and its integrated industries worldwide. The entire value chain of the global sugar industry, viz., sugarcane, sugar, molasses, ethanol and their subsequent marketing and export, has been adversely affected by the spillover impacts. However, the significant setbacks of COVID-19 on the sugar industry globally are coming back on track with the normalisation of the COVID-19 situation.

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Market Summary:

By Consumption - We have covered the market of India, European Union, China, United States, Brazil, Indonesia, Russia, Pakistan, Mexico, Egypt and Other as consuming countries in Global Sugar Market.

By Producing - We have studied the market of Brazil, India, European-Union, Thailand, China, United States, Russia, Mexico, Pakistan, Australia, Other as producing countries existing in Global Sugar Market constitutes.

By Export - This report studies Global Sugar Export Market of Brazil, Thailand, India, Australia, Guatemala, Mexico, European Union, South Africa, Russia and Colombia as exporting countries.

By Import - We have covered the Global Sugar Import Market of Indonesia, China, United States, Bangladesh, Algeria, Malaysia, United Arab Emirates, European Union, South Korea, Nigeria as importing countries.

Company - We have studied the company by Company Overview, Recent Development and Revenue of following companies Associated British Foods plc, Nordzucker AG, Wilmar International Limited, Tereos and Lantic Inc.

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According to the latest report by Renub Research, Global Sugar Market is Forecasted to be more than US$ 53 Billion by the end of year 2027.

This release was published on openPR.