Industrial Sugar Global Market Report 2024

The global industrial sugar market has grown strongly in recent years. It will grow from $45.9 billion in 2023 to $48.77 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The historical growth can be credited to factors such as colonial expansion fostering new markets, advancements in industrial techniques during the industrial revolution, the expansion of sugar beet cultivation, and the utilization of slavery and labor, all contributing significantly to this growth trajectory.

The global industrial sugar market is expected to see strong growth in the next few years. It will grow to $61.93 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. Anticipated growth in the upcoming forecast period is driven by a focus on environmental sustainability, heightened demand within pharmaceutical sectors, an expanding food and beverage industry, increased biofuel production, and the influence of governmental policies and regulations. Key trends in this forecast period encompass health and wellness preferences, a surge in demand for natural and clean-label products, technological advancements in processing methods, the upward trajectory of low-calorie sweeteners, and the broadening scope of sugar applications.

The projected surge in demand for confectionery items, particularly dairy products, is set to drive growth within the industrial sugar market. Dairy items predominantly involve products containing mammalian milk like that of cows. The expansion of the global industrial sugar market is attributed to heightened confectionery usage in producing an array of beverages and confectionary goods, including cakes, milkshakes, croissants, and hot beverages with added sugar. As per the Department of Agriculture, Fisheries, and Forestry's data from August 2023, the expected growth in dairy exports for 2023-24 is estimated at 2%, increasing from 663 kilotons in 2022-23 to 679 kilotons. Thus, the escalating demand for confectionery products like dairy items fuels the industrial sugar market's growth.

The burgeoning demand for food and beverages stands as a driving force behind the anticipated growth of the industrial sugar market in the upcoming years. The food and beverage sector, encompassing companies engaged in manufacturing, distribution, and sale of food and beverage goods, heavily relies on industrial sugar for its contribution to sweetness, texture, preservation, and functional attributes in various products like baked goods, jams, sauces, and confectionaries. According to New Zealand Trade and Enterprise's March 2023 report, the food service industry achieved a valuation of A$75.3 billion in 2021, demonstrating a substantial annual growth rate of 35%. Consequently, the escalating demand within the food and beverage domain fuels the expansion of the industrial sugar market.

Technological advancements have emerged as a prominent trend gaining traction within the industrial sugar market. Key market players are actively engaged in developing innovative technologies to fortify their market standing. For instance, in March 2022, Cargill, a US-based food corporation and industrial sugar producer, introduced the EverSweet + ClearFlo Stevia Platform, a pioneering stevia-boosting technology. This unique platform combines the company's leading sweetener with other natural flavors. Leveraging Cargill's ClearFlo technology, the EverSweet stevia-based sweetener serves as a foundation for incorporating additional natural flavors. This blend enhances flavor profiles, solubility, formulation stability, and dissolution speed, while also mitigating undesirable tastes that might exist in formulations, such as bitter coffee notes or metallic flavors from potassium chloride.

Major industrial sugar market entities are adopting a strategic partnership approach to explore sugar production from inedible biomass sources. Strategic partnerships involve leveraging combined strengths and resources for mutual benefits and success. For instance, in April 2023, Toray Industries, Inc., a Japan-based chemical company, announced a collaboration with Mitsui DM Sugar Co., Ltd. to develop sugar from non-edible biomass materials. These materials include extra bagasse, a residue from sugarcane processing, and pulp from cassava squeezing at starch manufacturers. Integrating this technique with Toray's ongoing development of producing monomers from sugars could facilitate a circular economy by manufacturing biomass-based polymers for fibers, films, resins, and various other products. Mitsui DM Sugar Co., Ltd. is a Japan-based manufacturing company specializing in sugar and related products.

In November 2022, US Sugar Corp, a US agricultural firm, finalized the acquisition of Imperial Sugar Co from Louis Dreyfus Co for $315 million. This strategic move aims to bolster US Sugar Corp's standing in the industrial sugar sector by integrating their expertise in sugar cane cultivation, milling, and cane sugar refining with Savannah refining's logistical capabilities, Sugarland's sales network, and customer service operations. Imperial Sugar, a domestic industrial sugar producer and marketer, complements this acquisition.

Major companies operating in the industrial sugar market report are Cargill Incorporated, Tereos India Private Limited, Nordzucker AG, EID Parry Ltd., Südzucker AG, Louis Dreyfus Company B.V., British Sugar PLC, Shree Renuka Sugars Ltd., Archer Daniels Midland Company, Raízen S.A., Tongaat Hulett Sugar Limited, Cosan SA Indústria e Comércio, Mitr Phol Sugar Corporation, Associated British Foods PLC, Wilmar International Limited, American Crystal Sugar Company, Lantic Inc., Michigan Sugar Company, Imperial Sugar Company, Guangxi Guitang Group Co. Ltd., Rizhao Lingyunhai Sugar Group, Bunge Limited, Thai Roong Ruang Group, Suem do Brasil Embalagens LTDA, China National Cereals Oils & Foodstuffs Corporation, Ingrain Systems Inc., Dhampur Sugar Mills Ltd., Balrampur Chini Mills Ltd., MSF Sugar Ltd., Danone SA

Asia-Pacific was the largest region in the industrial sugar market share in 2023. The regions covered in the industrial sugar market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the industrial sugar market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary classifications of industrial sugar include white sugar, brown sugar, and liquid sugar. White sugar, also known as table sugar or granulated sugar, results from refined beet or cane sugar. Widely used in baked goods such as meringues, mousses, and light, airy pastries that require optimal rising, industrial sugar exists in granulated, powdered, and syrup forms sourced from various origins like cane and beet. Its applications span across industries including dairy, bakery, confectionery, beverages, and frozen foods.

This report provides industrial sugar market statistics, including global market size, regional shares, competitors with a share of the industrial sugar market, detailed industrial sugar market segments, market trends and opportunities, and any further data you may need to thrive in the industrial sugar industry. This industrial sugar market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The industrial sugar market consists of sales of granulated sugar, caster sugar, confectioners’ sugar, pearl sugar, sanding sugar, cane sugar, demerara sugar, and turbinado sugar. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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