PR News

08 Nov, 2024 16:30

Industrial Granulated Sugar Market to Reach USD 50 Billion by 2031, Driven by 5% CAGR and Surging Demand Across Food, Pharmaceutical, and Emerging Market: - Market Research Intellect

A key driver of the industrial granulated sugar market's growth from 2024 to 2031 is the rising demand in the food and beverage industry. As processed foods, confectionery items, and beverages become more popular, especially in emerging economies, the need for granulated sugar as a primary ingredient continues to increase.

LEWES, Del., Nov. 8, 2024 /PRNewswire/ -- The Industrial Granulated Sugar Market is expected to grow at a compound annual growth rate (CAGR) of approximately 5% from 2024 to 2031. It is projected to reach a value of USD 37 billion in 2024 and expand to around USD 50 billion by 2031, driven by increased demand in various industries and emerging markets.

The growing urbanization and changing consumer lifestyles have led to a higher demand for ready-to-eat and convenience foods, further boosting sugar consumption. Another significant driver is the expansion of the pharmaceutical and personal care sectors.

Granulated sugar is widely used in drug formulations for its properties as a stabilizer and excipient. In personal care, sugar is utilized in scrubs and other skincare products. The growing population, rising disposable incomes, and increased industrial applications in these sectors are contributing to sustained market demand. Advancements in sugar production technology and the shift towards organic and natural sweeteners are also influencing market growth.

Download PDF Brochure: https://www.marketresearchintellect.com/download-sample/?rid=1006375

202 - Pages126 – Tables37 – Figures

Scope Of The Report

REPORT ATTRIBUTES

DETAILS

STUDY PERIOD

2020-2031

BASE YEAR

2023

FORECAST PERIOD

2024-2031

HISTORICAL PERIOD

2020-2023

UNIT

Value (USD Billion)

KEY COMPANIES PROFILED

Associated British Foods plc, Tate & Lyle plc, Wilmar International Limited, Sudzucker AG, Cargill, Inc., Nordzucker AG, Tereos Group, American Sugar Refining, Inc., Cosan S.A., and Louis Dreyfus Company

SEGMENTS COVERED

By Type, By Application And By Geography

CUSTOMIZATION SCOPE

Free report customization (equivalent to up to 4 analysts working days) with purchase. Addition or alteration to country, regional & segment scope

Industrial Granulated Sugar Market Overview

Market Size and GrowthThe global industrial granulated sugar market is projected to witness steady growth from 2024 to 2031, driven by expanding applications in key industries. Valued at around USD 37 billion in 2024, the market is expected to reach approximately USD 50 billion by 2031, reflecting a compound annual growth rate (CAGR) of about 5%. The rising consumption of processed foods and beverages, particularly in emerging economies, is a major contributor to this growth. Furthermore, growing urbanization and increasing disposable incomes are fueling the demand for convenience foods, which rely heavily on granulated sugar as a key ingredient. Despite some challenges, such as price fluctuations and health concerns around sugar consumption, the market's long-term growth potential remains positive due to its versatility across industries.

Key DriversOne of the primary drivers for the industrial granulated sugar market is the escalating demand within the food and beverage sector. Sugar is a crucial ingredient in a variety of processed foods, confectionery, and beverages. With global consumption patterns shifting towards packaged and ready-to-eat foods, the demand for sugar continues to rise. Additionally, the pharmaceutical industry's growing need for sugar as an excipient in drug formulations is another driver, alongside its application in personal care products like scrubs and exfoliants. Emerging economies, experiencing rapid urbanization and changing lifestyles, are also contributing to the rising demand for industrial granulated sugar. Finally, advancements in production processes, including organic and natural sugar products, are creating new growth opportunities in the market.

Challenges and RestraintsThe industrial granulated sugar market faces several challenges, the most prominent being fluctuations in raw sugar prices. These price changes are influenced by various factors, including weather conditions, geopolitical tensions, and trade regulations. Additionally, the growing health consciousness among consumers is leading to a decline in sugar consumption, particularly in developed regions where governments are implementing stricter regulations and promoting sugar substitutes. These factors may restrain market growth in certain segments. Moreover, sustainability concerns related to sugar production, such as water usage and environmental impact, are prompting manufacturers to adopt more eco-friendly practices, which can increase production costs and affect profitability.

Regional InsightsThe Asia-Pacific region is expected to dominate the industrial granulated sugar market during the forecast period, driven by the expanding food and beverage industries in countries like China, India, and Indonesia. Rising urbanization, population growth, and increasing disposable incomes in these regions are contributing to higher sugar consumption. North America and Europe remain key markets as well, due to the strong presence of food processing industries and consistent demand for sugar in the beverage and confectionery sectors. However, these regions are also witnessing a shift towards low-calorie alternatives due to growing health concerns. In Latin America and Africa, the market is experiencing moderate growth, supported by local production and rising demand for processed foods.Download Sample Report Now: https://www.marketresearchintellect.com/download-sample/?rid=1006375

Industry ApplicationsThe food and beverage industry is the largest consumer of industrial granulated sugar, utilizing it in products like baked goods, confectionery, dairy products, and beverages. In addition, the pharmaceutical industry relies on granulated sugar for drug formulations, where it acts as a stabilizer, preservative, and flavor enhancer. The personal care industry is another growing segment, using sugar in products like scrubs and exfoliants. Furthermore, sugar finds applications in biofuel production and fermentation processes, highlighting its versatility. The growing use of sugar in these diverse industries ensures steady demand, making it an essential commodity for industrial use globally.

Technological AdvancementsTechnological innovations in sugar production and processing are playing a key role in boosting market growth. New extraction and refining techniques are increasing production efficiency, reducing waste, and improving product quality. Additionally, the rise of organic and natural sweeteners is gaining traction as health-conscious consumers demand healthier alternatives. Advances in agricultural practices, such as precision farming and improved irrigation systems, are also enhancing sugarcane yields, which in turn supports consistent sugar production. These innovations are crucial for maintaining a competitive edge in the market and meeting the growing demand across industries while addressing sustainability concerns.

Competitive LandscapeThe industrial granulated sugar market is highly competitive, with the presence of both large multinational corporations and regional players. Major companies in the market include Associated British Foods plc, Tate & Lyle plc, Wilmar International Limited, and Sudzucker AG. These companies focus on expanding their production capacities, enhancing distribution networks, and investing in research and development to innovate new products. Strategic partnerships, mergers, and acquisitions are common practices in the market as companies aim to strengthen their market position. Additionally, many companies are shifting towards more sustainable production practices to meet the growing demand for eco-friendly and organic products.

Future Trends and OpportunitiesThe future of the industrial granulated sugar market lies in sustainable production and the development of healthier alternatives. As consumer awareness around health and wellness increases, there is a growing demand for organic and natural sugars, as well as sugar substitutes. This shift presents an opportunity for manufacturers to innovate and diversify their product offerings. Additionally, the increasing use of sugar in emerging industries, such as biofuels and bioplastics, opens new growth avenues. Companies focusing on reducing their environmental footprint through sustainable sourcing and production practices are likely to gain a competitive edge in the evolving market landscape.

Geographic Dominance:

The Asia-Pacific region is expected to maintain its dominance in the industrial granulated sugar market from 2024 to 2031, driven by rapid urbanization, population growth, and increasing disposable incomes. Key countries like China, India, and Indonesia are witnessing significant demand for processed foods and beverages, where sugar is a critical ingredient. The rising middle-class population in these countries is contributing to higher consumption of convenience foods, further fueling the market. In addition to Asia-Pacific, North America and Europe are also substantial markets, driven by a strong presence of food processing industries. However, both regions are seeing a gradual shift towards low-calorie and sugar-reduced alternatives due to increasing health awareness. Latin America, particularly Brazil, plays a key role as a major sugar producer, with a growing local demand for sugar in food products. Africa is also showing steady growth, supported by expanding industrial activities and rising food and beverage consumption across the continent.

Industrial Granulated Sugar Market Key Players Shaping the Future

Key players shaping the future of the industrial granulated sugar market include Associated British Foods plc, Tate & Lyle plc, Wilmar International Limited, Sudzucker AG, Cargill, Inc., Nordzucker AG, Tereos Group, American Sugar Refining, Inc., Cosan S.A., and Louis Dreyfus Company. These companies play a critical role in the market through innovation, production capacity, and strategic growth initiatives.

Industrial Granulated Sugar Market Segment Analysis

The Industrial Granulated Sugar market is segmented based on By Type, By Application and Geography, offering a comprehensive analysis of the industry.

1. By Type

White Sugar: The most commonly used form of granulated sugar, widely utilized in food processing and beverages. It undergoes refining to remove impurities and achieve a pure, white appearance.
Brown Sugar: Contains molasses, giving it a distinct color and flavor. Used primarily in baked goods, sauces, and beverages, brown sugar is valued for its richer taste.
Organic Sugar: Made from organically grown sugarcane, this type of sugar is free from synthetic pesticides and chemicals, catering to the growing demand for natural and organic food products.

2. By Application

Food and Beverage: The largest segment, where sugar is essential in producing confectionery, baked goods, dairy products, and beverages. Its sweetness and preservation properties are key in this sector.
Pharmaceuticals: Granulated sugar is used in drug formulations as a stabilizer, excipient, and flavor enhancer, especially in syrups, tablets, and coatings.
Personal Care: Sugar is used in personal care products like exfoliants, scrubs, and cosmetics for its natural abrasive properties and humectant qualities.
Biofuel Production: Sugarcane and granulated sugar derivatives are utilized in the production of ethanol and other biofuels, contributing to energy industries.
Other Industrial Uses: Sugar finds applications in industries like fermentation, bioplastics, and as a raw material in various chemical processes.

3. By Geography

North America: A mature market with stable demand, primarily driven by the food and beverage industry. Health concerns are leading to a shift toward low-sugar products.
Europe: Similar to North America, Europe is a major market for granulated sugar, though it faces increasing regulatory pressure to reduce sugar consumption.
Asia-Pacific: The fastest-growing region, with high demand for processed foods and beverages due to urbanization, population growth, and rising disposable incomes.
Latin America: A key region for sugar production, particularly in Brazil, which is also a significant consumer of granulated sugar in food and beverage sectors.
Middle East & Africa: Moderate growth driven by industrialization and increasing demand for processed foods and beverages, particularly in urban centers.

Manufacturing And Construction:

In the Manufacturing and Construction sectors, industrial granulated sugar plays a niche but important role, particularly in specific applications such as the production of adhesives and bioplastics. Sugar derivatives, especially when refined and processed, are used in the formulation of certain types of industrial adhesives, contributing to binding agents in construction materials. Additionally, the bio-based materials sector is exploring sugar as a renewable resource for creating sustainable alternatives to petroleum-based products, including bioplastics used in packaging and construction. As industries shift towards eco-friendly practices, sugar's biodegradable properties make it a viable component in developing sustainable construction materials. With increasing awareness and regulations around reducing carbon footprints, the construction industry is gradually adopting bio-based products, opening up new avenues for granulated sugar usage. While the scale of its use in manufacturing and construction is smaller compared to food and beverage or pharmaceutical industries, its potential in the growing bio-materials sector is expanding.

Our related Reports

Global Cake Pops Market is categorized based on Application (Gifting, Parties, Celebrations, Bakery) and Product (Chocolate Cake Pops, Vanilla Cake Pops, Red Velvet Cake Pops) and geographical regions

Global Monk Fruit Sugar Market is categorized based on Application (Powder, Liquid, Granular) and Product (Beverages, Bakery, Confectionery, Dietary Supplements, Others) and geographical regions

Global Vanilla Sugar Market size and forecast is categorized based on Application (Food Industry, Cosmetic Industry, Others) and Product (Organic Vanilla Sugar, Synthetic Vanilla Sugar) and geographical regions

Global Industrial Sugar Market size forecast is categorized based on Type (White sugar, Brown sugar, Liquid sugar) and Application (Dairy, Bakery, Confectionery, Beverage, Canned & frozen foods, Pharmaceuticals, Others) and geographical regions

Global Aseptic Paper Packaging Market is categorized based on Type (Boxes, Cartons, Bags, Pouches;) and Application (Food & Beverages, Pharmaceuticals, Cosmetics, Others;) and geographical regions

Global Epoxy Resin Carbon Fiber Prepreg Market is categorized based on Type (Thermoset, Thermo-plastic) and Application (Aerospace, Automative, Sports Gooding, Energy, Others) and geographical regions

About Us: Market Research Intellect

Welcome to Market Research Intellect, where we lead the way in global research and consulting, proudly serving over 5,000 esteemed clients worldwide. Our mission is to empower your business with cutting-edge analytical research solutions, delivering comprehensive, information-rich studies that are pivotal for strategic growth and critical revenue decisions.

Unmatched Expertise: Our formidable team of 250 highly skilled analysts and subject matter experts (SMEs) is the backbone of our operations. With extensive training in advanced data collection and governance, we delve into over 25,000 high-impact and niche markets. Our experts seamlessly integrate modern data collection techniques, robust research methodologies, and collective industry experience to produce precise, insightful, and actionable research.

Diverse Industry Coverage: We cater to a wide array of industries, ensuring that our insights are both relevant and specialized. Our expertise spans: Energy, Technology, Manufacturing and Construction, Chemicals and Materials, Food and Beverages.

Having collaborated with numerous Fortune 2000 companies, we bring unparalleled experience and reliability to meet all your research needs. Our proven track record reflects our commitment to excellence and client satisfaction.

Contact Us:Mr. Edwyne FernandesMarket Research IntellectCall Us on: +1 743 222 5439Email: [email protected]: https://www.marketresearchintellect.com/LinkedIn: https://www.linkedIn.com/company/marketresearchintellectTwitter: https://x.com/intellectmr

Logo: https://mma.prnewswire.com/media/2483702/Market_Research_Intellect_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/industrial-granulated-sugar-market-to-reach-usd-50-billion-by-2031-driven-by-5-cagr-and-surging-demand-across-food-pharmaceutical-and-emerging-market---market-research-intellect-302299891.html