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Japan Sugar Market - Forecasts from 2022 to 2027

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    Report

  • 73 Pages
  • January 2023
  • Region: Japan
  • Knowledge Sourcing Intelligence LLP
  • ID: 5716793

The Japan sugar market is anticipated to expand at a CAGR of 2.03% over the course of the forecast period, from US$5.017 billion in 2020 to a total market value of US$5.797 billion in 2027.

Several soluble carbohydrates with a sweet flavour 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 has applications 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 stops 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 Japan

Consumers are demanding more sugar these days, which is anticipated to contribute to the market's expansion in the country. This is because more people are consuming foods and beverages with added sugar. Additionally, there is a high demand for sugar due to the widespread consumption of sweet foods and desserts, which will support market expansion. These days, sugar is used for a variety of reasons across a wide range of industries, including bakery, confectionery, canned and frozen food, pharmaceuticals, etc. Additionally, leading players' increased investment and product innovation along with new product launches may further support the market's expansion.

Key Developments:

  • Oct 2022: A fundamental agreement was signed by Nissin Sugar Co., Ltd., and ITOCHU Corporation to purchase Itochu Sugar Co., Ltd. Nissin Sugar and ITOCHU will exchange shares, with Nissin Sugar acting as the exchange's wholly-owned parent company and ITOCHU Sugar as the exchange's wholly-owned subsidiary. On or around early September 2022, the companies will execute a binding contract for business integration. Itochu Sugar reported total revenues of 31 billion yen, total assets of 24 billion yen, and EBIT of 1.7 billion yen as of March 2022. The deal is anticipated to close on January 1, 2023. A firm agreement has been reached between the parties to purchase Itochu Sugar Co., Ltd. The transaction was approved by the board of directors of Nissin Sugar Co., Ltd. as of September 29, 2022.
  • March 2020: DaiNippon Meiji Sugar Co., Ltd., and Mitsui Sugar Co., Ltd. started integrating their business operations. The Firm and Dai-Nippon Meiji Sugar will exchange shares, with the Company acting as the parent company and Dai-Nippon Meiji Sugar as the subsidiary. In parallel, the company will split into two, with the business succeeding company taking over the company's operations. They will merge in April 2021 after the formal agreement is signed at the end of September 2020 and is subsequently approved by the stockholders' general meetings of the two firms. Dai-Nippon Meiji, Tokyo anticipates a rise in the production and processing of its sugar products, seasonings, and functional foods as a result of this agreement.

Product Offerings:

  • Brown Soft Sugar: By crystallizing the liquid left behind after repeatedly creating white soft sugar, granulated sugar, and similar products, brown soft sugar is created from completely refined sugar liquid. Brown soft sugar is heated repeatedly during the refining process to give it its colour. Its constituent parts aren't all that dissimilar from those of white soft sugar. soft brown sugar. This kind of sugar has a yellowish brown tint and is a little less pure than white soft sugar. It can be used for Japanese stewed meals, desserts, various Japanese dishes, and more. It has a rich sweetness and a characteristic body.
  • Cup Oligo: Cup Oligo is an oligosaccharide created by Nissin Sugar using biotechnology and is generated from the lactose found in milk. Galactooligo saccharide (GOS), its primary ingredient, is effective in fostering the growth of Bifidus bacteria. Cup Oligo is a trustworthy food sweetener with great physical qualities that is also safe because it is a chemical found in breastfeeding. Manufacturers can use it to create their own nutritionally conscious food products because it is readily available in two forms, syrup or powder, depending on client preferences.

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 Japanese Sugar Market

What is the estimated value of the Japanese Sugar Market?

The Japanese Sugar Market was estimated to be valued at $5.02 billion in 2020.

What is the growth rate of the Japanese Sugar Market?

The growth rate of the Japanese Sugar Market is 2.0%, with an estimated value of $5.8 billion by 2027.

What is the forecasted size of the Japanese Sugar Market?

The Japanese Sugar Market is estimated to be worth $5.8 billion by 2027.

Who are the key companies in the Japanese Sugar Market?

Key companies in the Japanese Sugar Market include Nissin Sugar Co., Ltd., Wilmar International Ltd and Nippon Beet Sugar Manufacturing Co., Ltd..

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

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

JAPANSUGAR Market ANALYSIS, BY SOURCE
6.1. Introduction
6.2. Cane Sugar
6.3. Beet Sugar

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

JAPANSUGAR 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. Nissin Sugar Co., Ltd.
10.2. Wilmar International Ltd
10.3. Mitsui DM Sugar Co., Ltd.
10.4. Nippon Beet Sugar Manufacturing Co., Ltd.
*List is not exhaustive

Companies Mentioned

  • Nissin Sugar Co., Ltd.
  • Wilmar International Ltd
  • Mitsui DM Sugar Co., Ltd.
  • Nippon Beet Sugar Manufacturing Co., Ltd.