The global cane sugar market size is estimated to reach USD 61,318 million in 2024. Global sales of cane sugar will likely rise at a CAGR of 3.4% through 2034, totaling USD 86,011 million.
Sugar is a staple of households and thus the consumer base of the product is wide. Some consumers even imbibe raw sugar, though the predominant use of the product in households is in cooking. With household cooking trends on the rise, consumer demand for cane sugar is shooting up.
The bakery and confectionery sector is seeing demand develop at a stellar rate. As long as consumers possess a sweet tooth, bakeries and eateries serving desserts are in a prime position to thrive.
“With the fact that cane sugar is useful for hydration, maintaining body protein levels and blood insulin levels, the global cane sugar market is likely to grow incessantly in the forecast period”, says an analyst from Future Market Insights.
Key Takeaways from Cane Sugar Market
- North America holds the largest market share with the US being subject to an ever-increasing demand for low-calorie sugar. Cane sugar is also known for extending baked goods’ shelf life, along with exceptional homogeneity and consistency.
- Europe holds the second-largest market share with end-consumers turning out to be concerned regarding agricultural activities’ environmental impact.
- The Asia-Pacific is expected to grow at the fastest rate in the cane sugar market with India taking the lead. The country is the second-biggest producer of sugarcane across the globe.
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Competition Outlook
The competitive landscape of the product is highly fragmented in nature, with no single company or set of companies being dominant in the industry. Thus, the barriers to entry are low, and small-scale enterprises are thriving.
Key players are primarily focusing on increasing their production capacities to meet growing end user demand. Similarly, strategies like mergers, facility expansions, partnerships, and acquisitions are becoming prevalent in the sector.
Industry Updates
- In January 2023, Wholesome Brand of Whole Earth Brands, Inc. launched Regenerated Organic Certified sugars.
- In January 2024, the government in India notified that 8,606 tonnes of raw cane sugar were to be supplied from India to the United States.
Leading Cane Sugar Brands
- Cosan SA
- E.I.D.-Parry (India) Limited
- American Crystal Sugar Company
- Raizen S.A.
- Louis Dreyfus Company B.V.
- Associated British Foods Plc.
- Tereos International Limited
- Tongaat Hulett Sugar South Africa Limited
- Shree Renuka Sugars Limited
- Global Organics Limited
- Do-It Ingredient BV
- Wilmar Sugar Australia Limited
- Tate & Lyle plc
- ASR Group International, Inc.
Key Segments of Market Report
By Product Type:
Based on the product type, the cane sugar market is divided into liquid sugar, powdered sugar, granulated textured sugar, granulated flavored sugar, granulated colored sugar, pulp, and others.
By Nature:
Based on nature, the industry is bifurcated into organic and conventional.
By Application:
Cane sugar is mostly used for applications like dairy, bakery, confectionery, beverage, canned and frozen foods, pharmaceuticals, and other food items.
By Region:
The sector has been analyzed with the following regions covered: North America, Latin America, Europe, South Asia, East Asia, Oceania, and the Middle East and Africa.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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