Industrial Sugar Market Overview:
By 2027, the global industrial sugar market is anticipated to reach US$63 billion mark in revenue with a CAGR of nearly 5.60 percent during the 2021-2027 forecast period, says a market report published by industry’s leading market analysts.
A thorough study has been carried out about the global Industrial Sugar Market and the findings from the study are compiled and presented in the market research report. The report identifies and presents popular patterns that may play a critical role in the industrial sugar market’s growth. After comprehensive market data analysis, the extent of development of the industrial sugar market across different segments and regional markets has been provided keeping the forecast period 2021 to 2027 into consideration.
Industrial Sugar Market Segmentation:
The global market for industrial sugar has been segmented based on type, form, source, application, and region.
Based on Type, the market is segmented into brown sugar and white sugar.
Based Product Form segment covers sub segments such as powder, syrup, and granules.
Based on Source, the industrial sugar market is further segmented into sugar beet, sugarcane, and others.
Based on Application Food & Beverages, Pharmaceuticals, Others
For in-depth analysis of different market aspects, the analysts have segmented the market based on applications covering food and beverages, pharmaceuticals, and others. The food and beverages segment are further divided into beverages, bakery and confectionery, dairy & frozen desserts, and others. Sugar is more affordable and readily available opposed to its alternatives. It is consumed by all socio-economic groups and varied income groups and can be easily purchased from retail outlets across the globe, convenience stores, supermarkets, and department stores.
Regional Overview:
Asia-Pacific has a leading role in the global Organic Sugar Free Market on the geographic front. The industrial sugar industry is a critical component of the Indian economy and accounts for a substantial share of national Gross domestic product. In addition to this, owing to favorable climatic conditions, India produces a large portion of sugar. In relation to four key industrial sugar markets, Europe, Asia-Pacific, North America, and the rest of the world, the regional markets have been observed. In extensive commercial applications, increasing consumption of sugar is mainly contributing significantly to market growth. Sugar, mainly sucrose, is used as a cost-effective, simple to produce, and decent tasting substance used in bulk amounts by the drug industry.
The industrial sugar market in North America is again segmented into Canada, the US, and Mexico. The UK, France, Germany, Italy, Spain, and the rest of Europe have been listed as the European country-level markets of industrial sugar. China, Japan, Australia and New Zealand, India, and the rest of Asia-Pacific have been analyzed as a part of the industrial sugar market spread across the Asia-Pacific region. In the rest of the world, the industrial sugar sector has indeed been segregated into South America and the MEA region.
Competitive Landscape:
Different studies and observations are carried out on the data gathered for the market research report and the findings are presented in the industrial sugar market report. Based on Sugar Blends parameters that characterize Porter’s Five Forces Model, this information is then analyzed. This involves parameters including the bargaining power of buyers, the risk posed by existing competitors, the threat posed by new entrants, as well as the challenges posed to the market by substitutes.
Recent Developments:
The various recent activities found in the Global Forecast are as follows:
- In July of the year 2019, the US Commodities Trader Bunge Ltd. announced a merger with British Energy Co. This merger was specifically aimed at the Brazilian Sugar and Ethanol operations. It would increase their sugar processing capacity by many folds and make them the world’s third-largest sugar processing organization.
- In July of the year 2019, Dalmia Bharat Sugar Industries, an India-based organization, invested approximately USD 4 Billion to increase its production capacity by the means of mergers or acquisitions. This will help them to fulfill the needs of the local market as well as export processed sugar to nearby regions.
- In March of the year 2016, the Western state and authority acquired the major number of controlling shares of Big Technologia as well as Colmena. Both the organizations are leading producers of Brazilian industrial sugar. Through this venture, the westerns states were able to support South America’s requirements.
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