PUBLISHER: The Business Research Company | PRODUCT CODE: 1414078
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414078
“Cane Sugar Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on cane sugar market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for cane sugar? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The cane sugar market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Cane sugar, sourced solely from sugarcane, serves multiple purposes within various industries. Its versatile applications include functioning as a sweetener, preservative, texture enhancer, fermentation substrate, flavoring, coloring agent, and bulking agent.
Cane sugar primarily manifests in crystallized and liquid syrup forms. Liquid syrups encompass saturated aqueous solutions containing a mix of sugars such as sucrose, invert sugar, glucose, fructose, and others in different proportions or blends. These products are available in both organic and conventional categories and are distributed via offline and online channels. They find extensive use across bakery and confectionery, dairy, food and beverages, and various other sectors.
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The cane sugar market size has grown steadily in recent years. It will grow from $178.14 billion in 2023 to $183.07 billion in 2024 at a compound annual growth rate (CAGR) of 2.8%. During the historical period, the notable growth can be attributed to several factors. These include the expansion of the global population, shifts in cultural and culinary preferences, the continual growth of the food and beverage industry, increased usage in various industrial applications, and the adoption of cane sugar as a substitute for artificial sweeteners.
The cane sugar market size is expected to see steady growth in the next few years. It will grow to $206.95 billion in 2028 at a compound annual growth rate (CAGR) of 3.1%. The anticipated growth in the forecast period can be traced to several factors, including a rising demand for natural ingredients, the expanding market presence in developing regions, heightened awareness concerning sustainable agricultural practices, consumer preferences leaning towards authentic and traditional foods, and the influence of climate change on sugar production.
The escalating demand for sugar-laden confectionery products and soft drinks is anticipated to be the driving force behind the expanding cane sugar industry. Confectionery products encompass a range of treats, including sweets, chocolates, and sweetened beverages, heavily relying on cane sugar as a primary sweetening agent. The surge in demand for these sugar-rich items significantly amplifies the market demand for cane sugar. For instance, as reported by Farm Credit Canada in March 2023, the Canadian sugar and confectionery sector witnessed a notable 15.0% sales surge in 2021, reaching $4.5 billion, primarily fueled by escalated volume sales, thereby raising manufacturing selling prices by over 4.9%. Thus, the burgeoning appetite for sugar-based confectionery products and beverages drives the growth trajectory of the cane sugar market.
The burgeoning need for cane sugar within the food and beverage sector is poised to augment the growth of the cane sugar market. This sector encompasses entities involved in processing, packaging, and distributing food items. Cane sugar serves as a versatile ingredient in this industry, contributing sweetness, texture, preservation, and flavor enhancement across various products. Notably, in 2023, Scotland hosted 1,185 food and beverage manufacturing companies, witnessing a substantial 31% surge in exports, totaling $10.18 billion (£8.1 billion). Moreover, food and beverage turnover accounted for $12.5 billion (£10.3 billion), constituting 33% of total Scottish manufacturing. Consequently, the amplified demand from significant end-users, such as the food and beverage industry, propels the growth of the cane sugar market.
Innovation emerges as a pivotal trend gaining traction within the cane sugar market. Leading companies operating in this sector prioritize product innovation to maintain their market standing. For instance, in August 2022, Raizen, a Brazil-based energy company, collaborated with ASR Group, a US-based cane sugar refining entity, introducing the world's premier sustainable and fully traceable supply chain for non-GM raw cane sugar, certified independently. This innovation involves a dedicated farming, bioenergy parks, and infrastructure operation, ensuring a 100% physically traceable and non-genetically modified supply chain.
Prominent entities within the cane sugar industry focus on strategic partnerships to reinforce their market positions. Collaborations between sugar industry players and research institutions or technology companies drive innovation and sustainability. For instance, in August 2022, Raizen, a Brazil-based bioenergy firm, partnered with ASR Group, a US-based sugar refining entity, aiming to establish the first entirely traceable and sustainable supply chain for raw cane sugar, specifically non-genetically modified. This collaboration emphasizes the development and implementation of a traceable and sustainable sugar supply chain.
In April 2022, the United States Sugar Corporation acquired the Imperial Sugar Company for $315 million, aimed at enhancing both entities' competitiveness and reliability. This acquisition, leveraging synergies between the two companies, seeks to offer customers enhanced value and service. The Imperial Sugar Company, a US-based producer and marketer of sugar, aligns with the strategic goals of the United States Sugar Corp, reinforcing their market presence and operational capabilities.
Major companies operating in the cane sugar market report are Global Organics Limited, Louis Dreyfus Company, Associated British Foods plc, Tate & Lyle plc, Anthony's Goods, Delphi Organic GmbH, DO IT ORGANIC, Florida Crystals, Nanning Sugar Industry Co. Ltd., Wholesome Sweeteners Inc., American Crystal Sugar Company, ASR Group International Inc., Balrampur Chini Mills Limited, Tongaat Hulett Sugar South Africa Limited, Suedzucker AG, Tereos, Cosan S.A., Mitr Phol Sugar Corporation Ltd., Nordzucker AG, Biosev S.A., Wilmar International Limited, Thai Roong Ruang Group, Bunge Limited, Cargill Inc., Archer Daniels Midland Company, Raizen Energia S.A., Guangxi Guitang Group Co. Ltd., Al Khaleej Sugar Company, East India Distilleries Parry Limited, Dalmia Bharat Sugar and Industries Ltd., Illois Sugar Inc., Okeana Sugar, Mauritius Sugarcane Industry Research Institute (MSIRI), Whitsunday Sugar Limited, Fiji Sugar Corporation
Asia-Pacific was the largest region in the cane sugar market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global cane sugar market during the forecast period. The regions covered in the cane sugar market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the cane sugar market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The cane sugar market consists of the sale of unrefined, refined, and raw cane sugar. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.