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Turkey Sugar Market - Forecasts from 2022 to 2027

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    Report

  • 70 Pages
  • January 2023
  • Region: Turkey
  • Knowledge Sourcing Intelligence LLP
  • ID: 5716753

The Turkey sugar market is anticipated to expand at a CAGR of 3.10% over the course of the forecast period, from US$3.579 billion in 2020 to a total market value of US$4.433 billion by 2027.

Several soluble carbohydrates with a sweet flavour and that are used in food are collectively referred to as sugar. After being extracted from the sugar beet or sugar cane plant, sugar can then be transformed into a variety of forms. Sugar is used in both food and non-food industries. Sugar has a number of important applications in the food sector along with providing a sweet taste. It serves as a preserver and prevents the growth of bacteria.

However, the younger population is switching to low-calorie sugar or artificial sweeteners, which could constrain the market in the region.

Consumption in the food industry to boost the sugar market in Turkey

Turkey consumes a high amount of sugar. According to USDA, annual per capita consumption of Turkey has raised from 30kg in 2021 to 35kg in 2022. Consumers are demanding more sugar these days, which is anticipated to contribute to the market's expansion in the country. Corn-based starch-based sweeteners are not eaten straight, but they are utilized by the industry to make candies, baked goods, traditional desserts, ice cream, helva, jams, and alcoholic and non-alcoholic beverages. As a result of a number of interrelated causes, including an expanding population, increased urbanization, and altered eating patterns, consumption levels have continued to rise. In parallel, Turkey's sophisticated food and beverage industry use sugar to create a wider range of goods in response to consumer demand. Sugar is used in the food and beverage sector to the tune of about 80%, with the remaining 20% being consumed by consumers at home. Major companies are also increasing their investment in product innovation and new product launches, which may help the market to even expand more in the country.

Key Developments:

  • April 2022: In MY 2021/22, sugar beet production and planting area were anticipated to be 19.5 MMT and 320,000 ha, assuming ideal growth circumstances. In 2022/23, it is anticipated that production will be slightly higher than 2.8 MMT, up by almost 51,000 MT over the previous year. Beet sugar production in MY 2022/23 is anticipated to increase year over year to 3.1 million metric tons in tandem with additional plantings (MMT). The exports of sugar climbed from 342,368 MT in 2020 to 435,752 MT in 2021 due to the rise in domestic production.

Product Offerings:

  • Südzucker Pearl Sugar: The distinctive ingredient of the renowned Belgian Liege Waffle, among others, is Südzucker Pearl Sugar, also known as nib sugar or hail sugar. The Pearl Sugar is used in baked goods including waffles, sugar bread, brioches, French chouquettes, and Pulla buns as ornamentation, a crunchy texturizer, and a sweet morsel of goodness. Pearl Sugar is used as the centre filling for colourful sweets embellishment in sugar confectionery. It works well for ice cream as well, when brésilienne can be made from tiny sugar pearls coated in syrup. The finest sugar is used to create Südzucker Pearl Sugar, which has a lovely bright white colour and a delightfully crunchy texture. Madeleine Cakes, muffins, donuts, pulla buns, cougnous, cougnolles, gingerbread, wafers, Liege Waffles, and sugar doughs (bread), Cramiques are among the baked goods that employ it. Even after baking, it keeps a high level of whiteness and produces a pleasing appearance. It resists heat well and doesn't dissolve when baking.
  • MitrPhol BROWN SUGAR: The hydrolysis of corn starch yields a thick, clear to slightly yellow syrup known as liquid glucose. It is offered in a variety of Dextrose Equivalent concentrations and solids compositions. Its suggested uses include soft drinks, ice cream, confectionery, sweet sauces, and bakery. Thickener, sweetener, and humectants are among the key properties of the product. It is produced in a Halal, Kosher, and food-safe manner and has received ISO certification. 1100 kg and 1200 kg IBCs and a 23-25 tons iso tank were used for packaging.

Market Segmentation:

By Form

  • Sugar Cubes
  • Granulated Sugar
  • Powdered Sugar
  • Sugar Syrup

By Source

  • Cane Sugar
  • Beet Sugar

By Use

  • Food and Beverage
  • Pharmaceuticals

By Distribution Channel

  • Online
  • Offline
Frequently Asked Questions about the Turkish Sugar Market

What is the estimated value of the Turkish Sugar Market?

The Turkish Sugar Market was estimated to be valued at $3.58 billion in 2020.

What is the growth rate of the Turkish Sugar Market?

The growth rate of the Turkish Sugar Market is 3.1%, with an estimated value of $4.43 billion by 2027.

What is the forecasted size of the Turkish Sugar Market?

The Turkish Sugar Market is estimated to be worth $4.43 billion by 2027.

Who are the key companies in the Turkish Sugar Market?

Key companies in the Turkish Sugar Market include Wilmar International Ltd, Südzucker AG and Konya Seker.

Table of Contents

INTRODUCTION
1.1. Market Overview
1.2. COVID-19 Scenario
1.3. Market Definition
1.4. Market Segmentation

RESEARCH METHODOLOGY
2.1. Research Data
2.2. Assumptions

EXECUTIVE SUMMARY
3.1. Research Highlights

MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis

TURKEY SUGAR MARKET ANALYSIS, BY FORM
5.1. Introduction
5.2. Sugar Cubes
5.3. Granulated Sugar
5.4. Powdered Sugar
5.5. Sugar Syrup

TURKEY SUGAR MARKET ANALYSIS, BY SOURCE
6.1. Introduction
6.2. Cane Sugar
6.3. Beet Sugar

TURKEY SUGAR MARKET ANALYSIS, BY USE
7.1. Introduction
7.2. Food and Beverages
7.3. Pharmaceuticals

TURKEY SUGAR MARKET ANALYSIS, BY DISTRIBUTION CHANNEL
8.1. Introduction
8.2. Online
8.3. Offline

COMPETITIVE INTELLIGENCE
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix

COMPANY PROFILES
10.1. Wilmar International Ltd
10.2. Südzucker AG
10.3. Turkiye Seker Fabrikalari A.S.
10.4. Konya Seker
*List is not exhaustive

Companies Mentioned

  • Wilmar International Ltd
  • Südzucker AG
  • Turkiye Seker Fabrikalari A.S.
  • Konya Seker