The Worldwide Sugar Industry is Expected to Reach $76.62 Billion by 2027 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Dec 21, 2022--
The “Global Sugar Market, Size, Share, Forecast 2022-2027, Industry Trends, Growth, Outlook, Impact of COVID-19, Opportunity Company Analysis” report has been added to ResearchAndMarkets.com’s offering.
This report provides a detailed analysis of Global Sugar Industry. The global sugar market will reach USD 76.62 Billion in 2027, from USD 67.59 Billion in 2021.
- Archer Daniels Midland
- Tate and Lyle
- General Mills, Inc.
- MGP Ingredients Inc.
- Kerry Group
In its broadest sense, sugar is a sweet crystalline material made from sugar cane and sugar beet. Sugar production (cane or beet) is likewise capital demanding, necessitating large-scale operations to remain competitive.
Soft drinks, sweetened beverages, convenience foods, fast food, sweets, confectionery, baked goods, and other sweetened foods are all made using sugar. Sugar is also employed in the rum distilling process. Furthermore, sugar is a high-profile commodity in the world’s major producing countries, both politically and commercially.
The sugar industry, which is on the rise, encompasses the production, processing, and marketing of sugars (principally saccharose and fructose).
In recent years, sugar prices are projected to be supported by continuously rising crude oil prices and decreased global output. However, massive stocks, strong products in the current season and near-stagnant domestic demand will limit price increases.
Moreover, sugar’s ground-breaking application has many uses in the pharmaceutical and beauty industries. Additionally, it is used to manufacture antibiotics and cough syrups in the pharmaceutical industry. On the other hand, it is employed in creating scrubs because of its exfoliating capabilities in the skincare industry.
Critical Consumers and the Policies that Supports the Global Sugar Industry:
A small number of powerful consuming countries dominate global sugar production and commerce. The top 10 consumers are India, European Union, China, the United States, Brazil, Indonesia, Russia, Pakistan, Mexico, and Egypt in the analysis. Although the sugar market in industrialized economies such as India, the European Union, and China remains saturated, they show signs of constant growth in emerging markets.
Moreover, as sugar-based products are in high demand in growing economies like India, the European Union, and China, the market is also expanding due to increasing disposable incomes, urbanization, and changing eating patterns.
COVID-19 Wreaked Havoc on the Global Sugar Industry:
The sugar business, which is a significant contributor to national economies worldwide, has experienced numerous obstacles throughout its history. The most recent threat has been modeled by the increasing pandemic coronavirus (COVID-19), which affected sugar sector stakeholders and their integrated businesses worldwide.
The spillover effects harmed the entire value chain of the global sugar sector, including sugarcane, sugar, molasses, ethanol, and their subsequent marketing and export relating to the slow growth of the market in 2020.
However, with the normalization of the COVID-19 situation, the slight setbacks of COVID-19 on the sugar business around the world are reversing. According to the publisher, Global Sugar Market is expected to expand at a CAGR of 2.1% during 2021-2027 post recovery from the COVID-19 situation.
Key Topics Covered:
2. Research & Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
5. Global Sugar Market
6. Global Sugar Volume
6.1 By Production
6.2 By Consumption
6.3 By Import (Top 10 Countries)
6.4 By Export (Top 10 Countries)
7. Share Analysis
7.1 Market Share
7.1.1 By Consuming Country
7.2 Volume Share
7.2.1 By Producing Country
7.2.2 By Importing Country
7.2.3 By Exporting Country
8. Consuming Country - Market & Volume Analysis
8.2 European Union
8.4 United States
9. Producing Country - Volume Analysis
9.3 European Union
9.6 United States
10. Exporting Country - Volume Analysis
10.7 European Union
10.8 South Africa
11. Importing Country - Volume Analysis
11.3 United States
11.7 United Arab Emirates
11.8 European Union
11.9 South Korea
12. Porter’s Five Forces Analysis
13. Company Analysis
For more information about this report visit https://www.researchandmarkets.com/r/wf1zza
View source version on businesswire.com:https://www.businesswire.com/news/home/20221221005413/en/
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SOURCE: Research and Markets
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PUB: 12/21/2022 10:44 AM/DISC: 12/21/2022 10:44 AM