The new report by Expert Market Research titled, ‘Global Sugar Market Report and Forecast 2020-2025′, gives an in-depth analysis of the global sugar market, assessing the market based on its segments like types, forms, sources, end uses, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2015-2025)
- Historical Market Size (2019): 175 million tons
- Forecast CAGR (2020-2025): 1%
- Forecast Market Size (2025): 186 million tons
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A significant increase in the food and beverage industry is the primary driver of the sugar market. Due to its diversified applications, sugar is an essential ingredient in this market. The rising demand for convenience foods, which usually have a large amount of sugar, due to hectic schedules, inflating disposable incomes, and shifting dietary models of the consumers, has also aided the industry growth. Moreover, rapid urbanisation and globalisation have led numerous global players to invest in emerging economies, thus, furthering the market growth. The rising preference for online food supply services is expected to boost the growth of the industry. The rising demand from the pharmaceutical industry is also expected to propel the sugar market forward in the coming years as sugar finds applications in antibiotics and syrup related medicines in the pharmaceutical sector.
Industry Definition and Major Segments
Sugar is a sweet crystalline material, primarily obtained from sugar cane and sugar beet, consisting of sucrose. It is widely being used as a sweetener for food and beverages.
The industry can be divided based on types into:
By form, the industry can be segmented into:
Based on the source, the industry is categorised into:
- Sugar Beet
On the basis of end-use, the industry is segmented into:
- Food and Beverages
- Pharma and Personal Care
The major regional markets for sugar include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Due to its exfoliating properties, sugar is often used to manufacture scrubs in the skincare industry. In addition, organic cane sugar is also gaining widespread market preference. Some of the other trends contributing to the increased demand for sugar are the favourable regulatory policies surrounding sugar production, the easy access to various distribution channels, as well as the abundance of raw materials. The demand for sugar-based goods in emerging economies, including India, China, and the Middle East, is also showing strong growth, owing to rising disposable incomes, urbanisation, and changing food habits.
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Key Market Players
The major players in the market are Sudzucker AG, Tereos, Associated British Foods plc, Wilmar International Ltd, and Nordic Sugar A/S, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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