Cane Sugar Market Size

Cane Sugar Market size was over USD 58.81 billion in 2023 and is anticipated to cross USD 89.69 billion by 2036, witnessing more than 3.3% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of cane sugar is assessed at USD 60.36 billion. The growth of the market can primarily be attributed to growing demand for cane sugar worldwide. Cane sugar is used widely for different industrial purposes. Apart from its utilization as sugar, cane sugar is also used as a source of energy and fuel. It is also used as a raw feed for various materials. Sugar crystals are also widely utilized in food and beverages industry for making different food products. It is also a preferred choice in the pharmaceutical, and cosmetic industries. According to the statistics by the International Sugar Organization (ISO), sugar consumption around the world touched 172.441 Million tonnes by the end of 2018, up from 123.454 Million tonnes in 2001. The statistics also stated that globally, the trade on sugar averaged around 64 Million tonnes/year. In addition, the rising production of sugar cane worldwide, and the increasing exports of the product is also anticipated to drive the market growth in the coming years. Besides this, the growing focus of the government of nations to raise the crop output is also expected to create numerous opportunities for cane sugar market growth.