Global Sugar Market By Region, Growth, Opportunities and Forecast 2018-2023
Global Sugar Market Fueled by Expanding Non-Food Applications
United States, 23 January 2018 -- The global sugar market is currently witnessing a positive growth. This can be highly accredited to the factors such as thriving food & beverage industry, expanding non-food applications as well as a strong demand from emerging regions.
Sugar, also known as sucrose, refers to a type of disaccharide made from the combination of the monosaccharides glucose and fructose. Sugar is a fine, colourless, odourless crystalline powder with a pleasing and sweet taste. In addition to this, it is not only present naturally within fruits but can also be produced commercially. Further, sugar is highly regarded across various industries for its distinct properties which include. A new research report title “Sugar Market: Global Industry Trends, share, Size, Growth, Opportunity and Forecast 2018-2023” by IMARC Group estimates that the market was worth 167 Million Tons in 2017. The report further anticipates the market to reach approximately 194 Million Tons by 2023, at a projected CAGR of around 3% over the forecast period.
Sugar helps to enhance texture, controls moisture and acts as a preservative due to which it is extensively used in the food and beverage industry. This represents one of the primary factors which is stimulating the growth of the global sugar market.
Expanding non-food applications across various sectors such as pharmaceuticals, cosmetics, bioplastic, etc. is another factor which is contributing to the market growth. In pharmaceuticals, sugar is used in tablets and cough syrups whereas in cosmetics, it is utilised as an organic exfoliant.
Some of the other forces that have been proactive in maintaining the demand for sugar include surging population, elevating incomes, urbanisation, improving standards of living, flourishing end-use industries and a strong demand from emerging economies.
However, the confluence of health-conscious consumer base and the availability of substitutes, such as stevia and aspartame, acts as major hindrance for the market growth.
On a geographical front, Brazil dominates the global sugar market, accounting for around a fifth of the total global production. In Brazil, sugar represents a crucial part of the economy and it contributes significantly to the national GDP. Brazil is followed by India, the European Union, China and Thailand.
The market is highly fragmented with the presence of numerous small and large manufacturers who compete in terms of prices and quality. There is an intense competition in the market which makes it difficult for small players to survive. Some of the leading players operating in the market are:
Mitr Phol Sugar Corporation Ltd.
Associated British Foods
Biosev (Louis – Dreyfus)
Wilmar International Limited
Thai Roong Ruang Group
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.
Hello journalist, welcome to Scoopasia--a powerful online resource for media information in Asia. Scoopasia has press releases and media events for every beat and industry. All content on Scoopasia is 100% FREE. You don't even need to login!
Scoop Line (Instant Information Request) The easiest way to ask questions and request information from the PR community.
Advanced Search Drill down, dig deep, for media information the way you want it.