Industrial Sugar Market size was over USD 45.76 billion in 2023 and is expected to cross USD 88.45 billion by the end of 2036, growing at more than 5.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of industrial sugar is estimated at USD 47.66 billion.
On the back of the increasing demand for industrial sugar for applications in bakery, confectionary and dairy among others, followed by the rising trends of packaged food, growing demand for sweeteners in the manufacturing of food products, and the growing importance of sugar in international trade. Along with these, the surge in the production of food products in the food & beverage industry is also estimated to drive the market growth. In accordance with our analysis, the food & beverages industry’s revenue is estimated to grow by more than 15% by the end of 2022.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
5.2% |
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Base Year Market Size (2023) |
USD 45.76 billion |
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Forecast Year Market Size (2036) |
USD 88.45 billion |
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Regional Scope |
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The market is segmented on the basis of type into white sugar, brown sugar, and liquid. Out of these, the white sugar segment is anticipated to occupy the largest share in 2021 owing to the abundant use of this type of sugar all over the world. In addition to that, based on source, the cane sugar segment is projected to grow at the highest rate during the forecast period. This can be attributed to the high production of sugarcane, especially in developing nations. For instance, India and Brazil are two of the largest producers of sugar worldwide, with each country producing more than 29 million metric tonnes of sugar in the year 2019.
Our in-depth analysis of the global market includes the following segments
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By Type |
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By Form |
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By Application
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By Source
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APAC Market Statistics
On the basis of regional analysis, the industrial sugar market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Asia Pacific industry is likely to hold largest revenue share by 2036, owing to high consumption of sugar in numerous end user industries. India is a very significant market for industrial sugar mainly attributable to the large-scale production of sugarcane and mass consumption of sugar in the country. As per our analysis, more than 375 million tonnes of sugar cane were produced in India during 2019 – 2020. Apart from this, rapid urbanization has given rise to the growth of various foods and beverages-based industries in the region.
Latin American Market Analysis
On the other hand, the Latin American region is one of the top producers of industrial sugar and contributed to a significant portion of the industrial sugar market. Favorable climatic conditions play an important role in the production of industrial sugar and therefore this region is expected to be the second most significant contributor to the market.
Author Credits: Parul Atri
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