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Bangladesh Sugar Market - Forecasts from 2022 to 2027

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    Report

  • 72 Pages
  • January 2023
  • Region: Bangladesh
  • Knowledge Sourcing Intelligence LLP
  • ID: 5743387
The Bangladesh sugar market is expected to grow at a compound annual growth rate of 2.14% over the forecast period to reach a market size of US$2,290.008 million in 2027 from US$1,974.828 million in 2020.

Market Overview:

Bangladesh's economy depends heavily on the sugar industry for jobs and agricultural support. There are 15 (fifteen) sugar mills in the nation, one distillery plant that uses molasses, and one engineering unit. Bangladesh Sugar and Food Industries Corporation (BSFIC), which is under the administrative control of the Ministry of Industries, owns and manages 19095.15 acres of the total land area (Source: bsfic.portal.gov). In addition to producing sugar, sugar mills also produce other byproducts such as bagasse, molasses, and wasted wash. Bagasse is used in boilers to generate heat, molasses is used in distilleries to create alcohol, and wasted wash is used to create organic fertilizer. The cultivation of sugar cane uses this organic fertilizer.

Growth factors:

Growing sugar demand due to a shift in consumption

Eight times more sugar is consumed in Bangladesh now than there was just 20 years ago (2,768,000 metric tons in the year 2021). Large-scale economic and demographic growth are to blame for this increase. In the upcoming years, it appears likely that the growth will continue. Bangladesh will become a far more important importer as the market expands. Despite rising global demand, stagnant production means that more investment is required. The enormous shift in consumption habits is mostly the result of quick economic growth. (Source: apps.fas.usda.gov)

Low gas supply for refining

In the first week of October 2022, the government of Bangladesh increased the price of sugar in an apparent effort to keep up with the market because traders were already selling it for more than the previously set pricing. 90-95% of imported sugar, according to data from the National Board of Revenue (NBR), is unrefined. Due to a reduction in the availability of gas to refining facilities, the production of sugar has fallen dramatically. (Source: thedailystar.net)

Market Developments:

  • September 2022: The government of Bangladesh as per instructions of the prime minister is working to raise domestic output while lowering imports as the country's sugar industry is expected to recover soon. They are creating novel, high-yielding sugarcane cultivars and offering producers technological assistance. They have also raised the price of sugarcane and provided other incentives to persuade farmers to grow the crop.
  • October 2022: The country's first sugar mill, Deshbandhu Sugar Mills Ltd, which began operations in 1932 and was privatized in 1999, plans to go public for an estimated capital of Tk100 crore to finance a 50% increase in capacity before 2024. Their current daily capacity for refining sugar at Narsingdi is 1,000 tons, and the expansion project will increase that capacity to 1,500 tons during the next 12 to 15 months. (Source: tbsnews.net)

Market Segmentation:

By Type

  • White Sugar
  • Brown Sugar
  • Confectioner Sugar
  • Cane Sugar
  • Others

By Crop

  • Sugarcane
  • Sugar beets

By Form

  • Liquid
  • Solid

By Distribution Channel

  • Online
  • Offline

By Application

  • Preservative
  • Texture Modifier
  • Sweetener
  • Flavoring & Coloring Agent
  • Bulking Agent
  • Others

By Industry Vertical

  • Food & Beverage
  • Pharmaceutical

Table of Contents

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

2. RESEARCH METHODOLOGY  
2.1. Research Data
2.2. Assumptions

3. EXECUTIVE SUMMARY
3.1. Research Highlights

4. 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

5. BANGLADESH SUGAR MARKET, BY TYPE
5.1. Introduction
5.2. White Sugar
5.3. Brown Sugar
5.4. Confectioner Sugar
5.5. Cane Sugar
5.6. Others

6. BANGLADESH SUGAR MARKET, BY CROP
6.1. Introduction
6.2. Sugarcane
6.3. Sugar Beets

7. BANGLADESH SUGAR MARKET, BY FORM
7.1. Introduction
7.2. Liquid
7.3. Solid

8. BANGLADESH SUGAR MARKET, BY DISTRIBUTION CHANNEL
8.1. Online
8.2. Offline

9. BANGLADESH SUGAR MARKET, BY APPLICATION
9.1. Preservative
9.2. Texture Modifier
9.3. Sweetener
9.4. Flavoring & Coloring Agent
9.5. Bulking Agent
9.6. Others

10. BANGLADESH SUGAR MARKET, BY INDUSTRY VERTICAL
10.1. Food & Beverage
10.2. Pharmaceutical

11. COMPETITIVE ENVIRONMENT AND ANALYSIS
11.1. Major Players and Strategy Analysis
11.2. Emerging Players and Market Lucrativeness
11.3. Mergers, Acquisitions, Agreements, and Collaborations
11.4. Vendor Competitiveness Matrix

12. COMPANY PROFILES
12.1. Shyampur Sugar Mills
12.2. Joypurhat Sugar Mill's Limited
12.3. Deshbandhu Sugar limited
12.4. City Sugar
*Not an exhaustive list

Companies Mentioned

  • Shyampur Sugar Mills
  • Joypurhat Sugar Mill's Limited
  • Deshbandhu Sugar limited
  • City Sugar

Methodology

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Table Information