Industrial Sugar Market Overview
The Industrial sugar market encompasses the large-scale
production, distribution, and usage of sugar for various industrial
applications across multiple sectors, such as food & beverages,
pharmaceuticals, and cosmetics. The market plays a critical role in providing
sweeteners and functional ingredients for processed foods, bakery items, soft
drinks, and confectionery products. The industrial sugar industry is expected
to grow steadily despite challenges posed by regulatory shifts and consumer
demand for low-sugar products. Innovations in sugar substitutes, bioethanol
production, and specialty sugars offer promising opportunities for market
players to diversify their portfolios.
Market Size and Growth Drivers
- Market
Size: The industrial
sugar market size is projected to reach USD 59.1 billion by
2028 from USD 46.4 billion by 2023, at a CAGR of 5.0% during the forecast
period in terms of value.
- Demand
in Processed Foods: Increasing consumption of convenience foods,
beverages, and confectionery globally continues to drive demand for sugar
as a sweetener and texture enhancer.
- Emerging
Markets: Rapid urbanization and changing lifestyles in regions like
Asia-Pacific, Africa, and Latin America are contributing significantly to
market expansion.
What impact will the introduction of new customers and
international players have on the industrial beet sugar industry?
The industrial sugar industry continues to grow rapidly. Key
factors contributing to industrial
sugar market growth are beet sugar, a significant industrial crop
utilized in food processing and producing ethanol and biogas. Mainly in
tropical countries, the sugar beet crop offers a valuable alternative to
sugarcane. The industrial beet sugar market growth in production and
consumption has historically showcased an upward trend. It is likely to develop
at a rapid pace during the forecast period. Based on consumption in the
industry, the beverages segment is anticipated to offer the highest market
attractiveness in the global industrial beet sugar market. Furthermore,
introducing a new class of customers and entering various new international
players is expected to strengthen the growth of the industrial beet sugar
industry globally during the forecast period.
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Processed Food Boom Strengthens Asia
Pacific’s Industrial Sugar Market
Asia Pacific leads the industrial sugar market and is
expected to grow at the highest CAGR between 2023 and 2028. The region’s sugar
consumption is projected to rise significantly, driven by increasing demand
from the processed foods industry. Key markets in this study include China,
India, Japan, and other Southeast Asian countries. Factors such as rising
purchasing power, rapid middle-class expansion, and growing consumer preference
for processed products offer strong potential for growth and diversification in
the food sector.
The anticipated expansion of food processing units in the
region is likely to further boost sugar supply and consumption. Countries like
China and India, with their export-oriented food processing industries, place
high importance on adopting advanced technologies and automation. These
developments are expected to have a positive impact on the industrial sugar
market across the Asia Pacific region.
Industrial Sugar Industry Trends and
Opportunities
- Shift
Towards Organic and Specialty Sugars: With rising health consciousness,
there is growing demand for organic sugars and unrefined options.
- Use
of Industrial Sugar in Bioethanol Production: Sugarcane-based ethanol
production, especially in Brazil, is gaining momentum.
- Innovation
in Reduced and Alternative Sugars: Increasing pressure from regulatory
bodies has encouraged manufacturers to explore low-sugar formulations and
sugar substitutes to cater to health-conscious consumers.
Beverages Application to Hold the Largest Industrial
Sugar Market Share
Beverages have the largest industrial
sugar market share in the application sector due to several
factors. The consumption of sugar-sweetened beverages such as sodas, energy
drinks, and sports drinks has been increasing worldwide, particularly in
developing countries. Despite efforts by public health advocates to reduce
sugar consumption, sales of sugary drinks in the United States increased by
6.4% in 2021, according to Beverage Digest. The production of these beverages
has also been on the rise as the global beverage industry continues to expand.
Latest Advancements in the Industrial Sugar Industry
- In
August 2022, Raízen, the world’s largest sugar exporting company, and ASR
Group, the world’s largest refiner and marketer of cane sugar, announced a
partnership that sets the standard for sustainable raw cane sugar supply
chains globally.
- In
July 2021, Al Khaleej Sugar announced the construction of a new sugar
factory in Merida, Spain. This expands the company’s operations beyond the
Middle East and North Africa, as it seeks to enter the sugar-beet
processing industry. The company begun construction of the new factory in
2022 and invested approximately USD 590 million. The factory has a
production capacity of up to 900,000 metric tons of sugar annually.
Key Questions Answered by the Industrial
Sugar Market Report
- Which
are the major companies in the Industrial sugar market? What are their
major strategies to strengthen their market presence?
- What
are the drivers and opportunities for the Industrial sugar market?
- Which
region is expected to hold the highest market share?
- What
is the total CAGR expected to be recorded for the industrial sugar market
during 2023-2028?
Meet the World’s Top Industrial
Sugar Companies
- Tereos
(France)
- Michigan
Sugar Company (US)
- Dwarikesh
Sugar Industries Limited (India)
- Canal
Sugar (Egypt)
- Al
Khaleej Sugar (Dubai)
- Rajshree
Sugars & Chemicals Limited (RSCL) (India)
- Rana
Group (India)
- Shree
Renuka Sugars Limited (India)
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