Global Sugar Market to Grow at a CAGR of 1% During 2024-2032, Aided by Rising Population and Increase in Consumption of Processed Foods

The global sugar production reached 175.3 million tons during FY 2022/23, according to USDA. The total exports reached USD 224.28 million in 2022. The top leading exporters of refined cane or beet sugar are India, the United States, and Germany, among others. The following chart shows the top 5 exporters of refined cane or beet sugar.

Fig: Top 5 exporting countries for refined cane or beet sugar, 2022, USD Million

The increasing global population is driving an increase in the demand for sugar. The household consumption of sugar is contributing to the overall market value, reflecting the growing preference for homemade bakery products. According to the United Nations, the global population is expected to reach 9.8 billion by 2050, which is currently only 8 billion.

Moreover, the expansion of the sugar market is propelled by rising living standards and increased purchasing power in emerging economies. These factors lead to heightened consumption of processed foods, including those with high sugar content such as dairy products and soft drinks. Furthermore, premium packaged beverages and solid processed foods are witnessing an increased penetration of sugar, contributing to the overall expansion of the market.

Asia Pacific and North America are expected to hold a significant share due to the growing population and surge in consumption of processed food in these regions. Additionally, the rising demand for flavoured beverages and carbonated drinks contributes to the sugar demand.

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Market Breakup by Type, Form, Source, End User, and Region:

• The market is segmented based on type into white, brown, and liquid.
• Based on form, the market can be divided into granulated, powdered, and syrup.
• By source, the market is bifurcated into sugar beet and sugarcane.
• Based on end user, the market can be divided into food and beverages, pharma and personal care, household, and others.
• Region-wise, the global market for sugar can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The global sugar market is being driven by the growing population, thriving food and beverages sector, and increased household consumption of sugar.
• Rising disposable incomes and changing preferences support the demand for processed food, dairy products and soft drinks, which, in turn, aids the market for sugar.
• Countries like India, the United States and Germany are the leading exporters of sugar globally.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for sugar for the periods (2018-2023) and (2024-2032).
• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the type, form, source, end user, and major regions of sugar.
• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global sugar market are Cosan S.A., AB Sugar, Südzucker AG, Nordzucker AG, COFCO International, Tereos Group, Mitr Phol Group., Dalmia Bharat Sugar and Industries Limited, Louis Dreyfus Company, Wilmar International Ltd, The Savola Group, E.I.D. – Parry (India) Limited, Rusagro Group, Thai Roong Ruang Sugar Group, and Cargill, Incorporated, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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