Worldwide Sugar Market Size was USD 67.59 Billion in 2021
The sugar industry, which is on the rise, encompasses the production, processing, and marketing of sugars (principally saccharose and fructose). In recent years, sugar prices are projected to be supported by continuously rising crude oil prices and decreased global output. However, massive stocks, strong products in the current season and near-stagnant domestic demand will limit price increases. Moreover, sugar's ground-breaking application has many uses in the pharmaceutical and beauty industries. Additionally, it is used to manufacture antibiotics and cough syrups in the pharmaceutical industry. On the other hand, it is employed in creating scrubs because of its exfoliating capabilities in the skincare industry.
Critical Consumers and the Policies that Supports the Global Sugar Industry:
A small number of powerful consuming countries dominate global sugar production and commerce. The top 10 consumers are India, European Union, China, the United States, Brazil, Indonesia, Russia, Pakistan, Mexico, and Egypt in the analysis. Although the sugar market in industrialized economies such as India, the European Union, and China remains saturated, they show signs of constant growth in emerging markets. Moreover, as sugar-based products are in high demand in growing economies like India, the European Union, and China, the market is also expanding due to increasing disposable incomes, urbanization, and changing eating patterns.
COVID-19 Wreaked Havoc on the Global Sugar Industry:
The sugar business, which is a significant contributor to national economies worldwide, has experienced numerous obstacles throughout its history. The most recent threat has been modeled by the increasing pandemic coronavirus (COVID-19), which affected sugar sector stakeholders and their integrated businesses worldwide. The spillover effects harmed the entire value chain of the global sugar sector, including sugarcane, sugar, molasses, ethanol, and their subsequent marketing and export relating to the slow growth of the market in 2020. However, with the normalization of the COVID-19 situation, the slight setbacks of COVID-19 on the sugar business around the world are reversing. According to the publisher, Global Sugar Market is expected to expand at a CAGR of 2.1% during 2021-2027 post recovery from the COVID-19 situation.
Production Support Policies and Subsidies in the Sugar Industry around the World:
According to our analysis, global producers include Brazil, India, European Union, Thailand, China, the United States, Russia, Mexico, Pakistan, and Australia. As per our analysis, Brazil, India, and the European Union are the top three producing countries. These countries have responded by implementing a complex set of policies and subsidies to boost local output. These measures, taken together, have a significant distorting influence on the global sugar market. Indeed, government sugar policies in a few countries, most notably Brazil, Thailand, and India, have a significant impact on the worldwide sugar market's supply-demand balance and, as a result, the trading price level. As a result, the sugar business is not a regular clearing market and hence cannot be utilized as a long-term 'benchmark' for developing sugar sector policies and plans.
Trolling News about the Sugar Industry in 2021:
According to The Hindu Business line, Sugar prices soared in 2019-20 due to significantly lower output from India, the EU, and Thailand. Despite this, due to Covid-led delays and lockdowns, prices plummeted by more than 30% between February and April 2020. In addition, despite unfavourable weather in Brazil and Thailand and a reduction in European output, India is focused on producing a record amount of sugar in the 2020-21 sugar season. Furthermore, in a global production deficit, sugar prices in India are projected to remain stable, but substantial carry-over stocks may limit price increases.
This new report titled Global Sugar Market & Volume by Consumption (India, European Union, China, United States, Brazil, Indonesia, Russia, Pakistan, Mexico, Egypt, Other), Production (Brazil, India, European-Union, Thailand, China, United States, Russia, Mexico, Pakistan, Australia, Other), Import (Indonesia, China, United States, Bangladesh, Algeria, Malaysia, United Arab Emirates, European Union, South Korea, Nigeria), Export (Brazil, Thailand, India, Australia, Guatemala, Mexico, European Union, South Africa, Russia, Colombia), Company Analysis (Archer Daniels Midland, Tate and Lyle, General Mills, Inc., MGP Ingredients Inc. and Kerry Group) provides a detailed analysis of Global Sugar Industry.
Consuming Countries - Market & Volume breakup from 11 Countries:
1. India
2. European Union
3. China
4. United States
5. Brazil
6. Indonesia
7. Russia
8. Pakistan
9. Mexico
10. Egypt
11. Other
Producing Countries - Volume breakup from 11 Countries:
1. Brazil
2. India
3. European-Union
4. Thailand
5. China
6. United States
7. Russia
8. Mexico
9. Pakistan
10. Australia
11. Other
Importing Countries - Volume breakup from 10 Countries:
1. Indonesia
2. China
3. United States
4. Bangladesh
5. Algeria
6. Malaysia
7. United Arab Emirates
8. European Union
9. South Korea
10. Nigeria
Exporting Countries - Volume breakup from 10 Countries:
1. Brazil
2. Thailand
3. India
4. Australia
5. Guatemala
6. Mexico
7. European Union
8. South Africa
9. Russia
10. Colombia
All Key Players has been covered with 3 viewpoints:
- Overview
- Recent Development
- Revenues
Company Analysis:
1. Archer Daniels Midland
2. Tate and Lyle
3. General Mills, Inc.
4. MGP Ingredients Inc.
5. Kerry Group
Table of Contents
Companies Mentioned
- Archer Daniels Midland
- Tate and Lyle
- General Mills, Inc.
- MGP Ingredients Inc.
- Kerry Group
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 300 |
| Published | March 2022 |
| Forecast Period | 2021 - 2027 |
| Estimated Market Value ( USD | $ 67.59 Billion |
| Forecasted Market Value ( USD | $ 76.62 Billion |
| Compound Annual Growth Rate | 2.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 5 |
