September 11, 2024 – Meticulous Research® has released a comprehensive market research report titled, “Industrial Sugar Market Size, Share, Forecast, & Trends Analysis by Type (White, Liquid, Brown), Source (Sugarcane, Sugar Beet), Form (Granulated, Powdered, Syrup), Application (Food & Beverage, Pharmaceutical, Personal Care) - Global Forecast to 2031”. The report forecasts the industrial sugar market to grow from $60.19 billion by 2031, at a compound annual growth rate (CAGR) of 3.0% from 2024 to 2031.

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The report highlights several key drivers for the growth of the industrial sugar market. These include the rising consumption of processed food and beverage products, increased demand for confectionery items, and the low cost and high availability of industrial sugar. However, the market faces challenges such as consumers' growing preference for sugar substitutes, the increasing prevalence of chronic diseases like diabetes, and the imposition of sugar taxes in various countries.

Technological advancements in sugar processing and the growing use of natural and organic sugar in pharmaceutical and personal care industries are expected to provide significant growth opportunities for market players. On the other hand, rising production costs and fluctuations in raw material supply present major challenges.

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Key Findings:

  • The white sugar segment is projected to grow at the highest CAGR during the forecast period due to increasing demand for processed foods, pharmaceuticals, and personal care products.
  • The sugarcane segment is anticipated to hold the largest market share in 2024, representing 79.1% of the market, owing to its high sucrose content and cost-effectiveness.
  • Granulated sugar is expected to dominate the market in 2024 due to its widespread use and affordability.
  • The food & beverage segment is forecasted to account for the largest share of 75.0% in 2024, driven by the high use of sugar in various food and beverage products.
  • In terms of geography, Asia-Pacific is expected to hold the largest share of 34.5% in 2024 and register the highest growth rate of 3.3% due to its expanding population, urbanization, and growing food and beverage sector.

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Key Players:

The report provides an in-depth analysis of leading market participants, including Südzucker AG (Germany), Associated British Foods plc (U.K.), Rogers Sugar Inc. (Canada), United States Sugar Savannah Refinery, LLC (U.S.), Tereos Group (France), Mitr Phol Sugar Company Limited (Thailand), American Crystal Sugar Company (U.S.), Louis Dreyfus Holding B.V. (Netherlands), Cargill, Incorporated (U.S.), ARCHER-DANIELS-MIDLAND COMPANY (U.S.), Nordzucker AG (Germany), E.I.D. - Parry (India) Limited (India), Michigan Sugar Company (U.S.), and Nile Sugar (Egypt).