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Global Sugar Market to Reach 190 Million Tons by 2024

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"Being an important source of food energy, sugar today represents one of the top ten most traded commodities around the world. Known for its sweetening properties, sugar is proficient in lowering the freezing point of foods. Moreover, sugar is considered an indispensable product for the food industry as it provides an even texture to food items, enhances flavours, adds warm colour and extends the shelf life of the bakery products. "

Albeit facing competition due to the presence of a number of low-calorie sweeteners, sugar still remains the preferable commodity for the majority of people across the world. The functional properties of sugar have helped expand its applications in the food and beverage industry. It is used in the pharmaceutical industry for its solubility effects in cough syrups and tablets. Factors such as rising population, increasing disposable incomes, flourishing food and beverage sectors and growing consumption of sugar in emerging regions have also contributed to the growth of the global sugar market. According to a new report by Expert Market Research, the market reached a consumption volume of 178 Million Tons in 2018 and is further expected to reach 190 Million Tons by 2024.

Key findings from the report:

  • Sugar is derived from two different sources, i.e., sugar cane and sugar beet. These two sources are the most important sugar crops. Sugar cane grows in warm, moist and tropical climates while sugar beet grows in cooler and temperate climates.
  • The major end-uses of sugar include household consumption; in beverages, bakery and confectionery, ice cream & dairy products and others. 
  • Country-wise, Brazil dominated the market with a share of more than one-fifth of the total global production in 2018. Brazil was followed by India, the European Union, China and Thailand.
  • On the basis of global consumption, India represented the world’s biggest consumer of sugar accounting for more than one-tenth of the total global consumption in 2018.   
  • Some of the key players in this market include Südzucker AG, Tereos S.A., Cosan Limited, Mitr Phol Sugar Company Limited (Mitr Phol Group), Associated British Foods plc, Wilmar International Ltd, NORDZUCKER AG, and BIOSEV among others.

Expert Market Research has analysed the global sugar market according to source, end-use, major countries and top players:

Market breakup by Source

-    Sugar Cane
-    Sugar Beet

Market breakup by End-use

-    Household Consumption
-    Beverages
-    Bakery and Confectionery
-    Ice cream & Dairy products
-    Others

Market breakup by Major Countries

-    Brazil
-    India
-    The European Union
-    China
-    Thailand
-    Others
 

Top players

  • Südzucker AG
  • Tereos S.A.
  • Cosan Limited
  • Mitr Phol Sugar Company Limited (Mitr Phol Group)
  • Associated British Foods plc
  • Wilmar International Ltd
  • NORDZUCKER AG
  • BIOSEV

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"Global Sugar Market: By Source: Sugar Cane, Sugar Beet; By Type: White Sugar, Brown Sugar, Liquid Sugar; By Form: Granulated Sugar, Powdered Sugar, Syrup Sugar; By Application: Dairy, Bakery, Confectionery, Beverage, Canned & Frozen Foods, Pharmaceutical; By Region: North America, Europe, Asia Pacific, Latin America, Middle East & Africa; Historical Production and Consumption (2015-2019); Production and Consumption Forecast (2020-2025); SWOT Analysis; Value Chain Analysis; Global (HS Code-1701) Trade Analysis (2018); Regional Price Analysis; Competitive Landscape & Supplier Analysis"

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