Sugar Market Report 2023 | Global Industry Size, Share, Price Trends & Forecast to 2028

January 02 19:45 2023
Sugar Market Report 2023 | Global Industry Size, Share, Price Trends & Forecast to 2028
Sugar Market 2023-2028: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast
The global sugar market is driven by the increasing product utilization in manufacturing pharmaceutical products, along with changing dietary patterns of the masses.

IMARC Group has recently released a new research study titled “Sugar Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028”, offers a detailed analysis of the sugar market prices, drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.

How much is the sugar industry worth?

The global sugar market size reached 189.0 Million Tons in 2022. Looking forward, IMARC Group expects the market to reach 217.2 Million Tons by 2028, exhibiting a growth rate (CAGR) of 1.64% during 2023-2028.

Sugar represents a sweet crystalline substance that is prepared from sugar cane and sugar beet. It is used across countries for numerous food and non-food applications. Sugar gives a sweet taste and is transparent as well as colorless in appearance. In line with this, it is utilized as a preservative and prevents the development of microorganisms. Sugar is also used to avoid the formation of large ice crystals in frozen products, including ice cream. It encourages fermentation in items that contain yeast. Sugar is utilized in baked goods for retaining moisture and preventing staleness. It acts as an essential source of energy for the human body to function, as sugar contains glucose and fructose.

Impact of COVID-19:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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What are the major market drivers in the sugar market?

The increasing utilization of this substance in the manufacturing of several pharmaceutical products for adding volume, coating, flavoring, etc., is primarily augmenting the sugar market. Apart from this, it is adopted as an antioxidant agent in the production of antibiotics and cough syrups, which is acting as another significant growth-inducing factor.

Furthermore, the escalating demand for sugar in the formulation of face scrubs that assist in removing scars and preventing acne is positively influencing the global market. Besides this, changing consumer dietary patterns, the growing popularity of sugar-based items, especially among children, and their easy availability across online and offline organized distribution channels are also bolstering the market growth. Moreover, the rising number of retail formats, such as convenience stores, departmental stores, supermarkets, hypermarkets, etc., is expected to fuel the sugar market in the coming years.

Competitive Scenario with Key Players:

The competitive landscape of the market has also been analyzed, with some of the biggest sugar companies in usa:

    • Suedzucker AG
    • Tereos 
    • Cosan
    • Mitr Phol Sugar Corporation., Ltd.
    • Associated British Foods
    • Nordzucker AG
    • Biosev (Louis-Dreyfus)
    • Wilmar International Limited
    • Thai Roong Ruang Group


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The report cover the below key market segments:


Breakup by Product Type:

    • White Sugar
    • Brown Sugar
    • Liquid Sugar


Breakup by Form:

    • Granulated Sugar
    • Powdered Sugar
    • Syrup Sugar


Breakup by End-Use Sector:

    • Food and Beverages  
    • Pharma and Personal Care
    • Household


Breakup by Source:

    • Sugarcane
    • Sugar Beet


By Geography:

    • North America (United States, Canada)
    • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
    • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
    • Latin America (Brazil, Mexico, Others)
    • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)


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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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