Global Sugar Market to Witness Major Growth by 2028 | Rana Sugars, Tereos, Cosan

Market Overview:
The Global Sugar Market is valued at USD 46.08 Billion in 2021 and is anticipated to reach USD 68.83 Billion over the forecast period 2028, at a CAGR of 5.9%.

A sweet, crystalline material made from sugar cane and sugar beet is referred to as sugar. It has countless applications in both food and non-food industries. In the food sector, sugar has a number of important purposes in addition to providing a sweet taste. It serves as a preserver and stops the growth of bacteria. Additionally, it is used to stop the growth of big ice crystals in frozen foods like ice cream. Sugar also promotes fermentation in goods that contain yeast. Additionally, it keeps baked items moist and keeps them from going bad.

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Market Dynamics:
Driver:
Contrary to sugar replacements, sucrose is more affordable and widely accessible. It is readily available worldwide in a number of retail formats, such as convenience stores, department stores, supermarkets/hypermarkets, etc., and is consumed by people of all socioeconomic age groups. The worldwide food and beverage business is largely resistant to any declines brought on by changes in the economy. As a result, during the past few years, the sector has consistently grown. The food and beverage industry currently plays a significant role in driving sugar consumption and is anticipated to have a favorable effect on the sugar business. It drives the market for the long term.

Opportunities:
In order to provide raw materials for the stable functioning of sugar enterprises and progressively rebuild the local market industry, increases in raw material purchasing prices would encourage local sugarcane growers to increase their acreage. Long-term reorganization of the industries was necessary to increase their competitiveness and market size. In the future, many companies need to invest in modern innovative technologies, diversify products aftermarket, and should make policies to support sugarcane growers this is an opportunity in the market.

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Market Segmentation
By Type
• Brown
• White
• Liquid
By Source
• Sugarcane
• Sugar Beet
• Others
By Forms
• Granular
• Powder
• Syrup
By Application
• Food Products
• Beverages
• Dairy Products
• Bakery and Confectionary Products
• Pharmaceuticals
• Others

Regional Analysis:
Asia Pacific region is the dominating industrial market and this trend is expected to continue owing to the increasing plantation of sugarcane and rising end use demand over the forecast period. Moreover, adequate raw material availability in southern Asian countries such as India, China, Indonesia and Pakistan owing to favorable atmospheric condition is likely to impact the market in the region.

In Latin America, Brazil is one of the largest producers of sugar in world wherein production doubled in last few years. Moreover, the country accounted for approximately 25% global market production. It is also one of the largest exporters of the Market and is expected to remain the same over the forecast period.

The European countries are producing the beet sugar comprises approximately 50% of the world's production. This is awaited to grow over the forecast period.
In North America, the region is consistently a market deficit area requiring more imports to meet growing consumption needs. Moreover, changes in region sugar industries are causing new trends to emerge. For instance, Mexico has been deficit market producer but recent year has shifted to surplus producer status and is expected to grow during forecast period.
In Middle East and Africa, rising consumption of sweetened drinks and growing market production are look forward to propel the market growth during forecast period.
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of SA)

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Players Covered in Sugar Market are:
• British Sugar Plc. (UK)
• Cargill Incorporated (US)
• Rogers Sugar Inc. (Canada)
• Imperial Sugar Company (US)
• Hindustan Ltd (India)
• Rana Sugars (India)
• Sudzucker AG (Germany)
• COFCO Tunhe Co. Ltd (China)
• Tereos
• Cosan
• Mitr Phol Sugar Corporation Ltd.
• Wilmar International Ltd.
• Associated British foods and other major players.

Key Industry Developments
• In April 2020, Cargill invests in new start-up Bflike with the help to food manufacturers and retailers offer new generation of plant-based meat and fish alternative products.

• In April 2018, British Sugar and NFU announced the industry Harvest and Haulage Scheme, which is initiated by British Sugar in 2010 to furnish harvesting and haulage services to sugar-beet growers.

The report provides a comprehensive outlook of the competitive landscape, evaluating the products in the pipeline and existing portfolio. It also elucidates the market fluctuations, pricing structure, potential risks to the environment, and growth prospects. The global Sugar market research report profiles top companies and offers comments on upcoming players.

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