Sugar Market Overview, Industry Top Manufacturers, Market Size, Opportunities and Forecast by 2025

According to the latest report by IMARC Group, titled “Sugar Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the global sugar market size reached a volume of 190.2 Million Tons in 2019. Sugar is a class of carbohydrate found naturally in most fruits and vegetables, milk and dairy products, malted drinks, and honey. Some of the most common types of sugar are sucrose, lactose, maltose, fructose and glucose. Sucrose, or table sugar, is the most popular type of sugar and is employed across various industry verticals. It is mostly used in the food and beverage industry to balance acidity, add bulk or prevent spoilage in addition to providing sweetness.

Market Trends:

Sugar is consumed across all socioeconomic groups as it is more economical and readily available as compared to its substitutes. Besides this, it is an essential and versatile food ingredient which helps to prolong the shelf life of food items and delays the change of proteins to a semi-solid state. In addition to this, sugar acts as a preservative and anticoagulant which prevents the growth of bacteria, yeast and molds. Further, it finds applications in industries ranging from pharmaceutical, personal care to industrial and automotive. For instance, in beauty and cosmetics products, sugar is used for its exfoliating and moisturizing properties. While in the healthcare industry, it is utilized for coating, flavoring and enhancing the texture of medicines. In the industrial and agricultural sectors, sugar helps in making furfural, an organic compound useful in the production of cement, herbicides, adhesives and coatings. Continuous growth in these end use industries is expected to drive the demand for sugar worldwide. Looking forward, the market is further projected to reach 199.5 Million Tons by 2025, expanding at a CAGR of nearly 1% during 2020-2025.

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Insights on Market Segmentation:

Breakup by Type

1. White Sugar
2. Brown Sugar
3. Liquid Sugar

Breakup by Form

1. Granulated Sugar
2. Powdered Sugar
3. Syrup Sugar

Breakup by End-Use Sector

1. Food and Beverages
2. Pharma and Personal Care
3. Household

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Breakup by Source

1. Sugarcane
2. Sugar Beet

Breakup by Region

1. Brazil
2. India
3. United States
4. European Union
5. China
6. Thailand
7. Others

Competitive Landscape

The competitive landscape of the market has also been examined with some of the key players being Suedzucker AG, Tereos, Cosan, Mitr Phol Sugar Corporation., Ltd., Associated British Foods, Nordzucker AG, Biosev (Louis-Dreyfus), Wilmar International Limited and Thai Roong Ruang Group.

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.