The global cane sugar market was worth US$ 53.6 Billion in the year 2022 and is expected to reach US$ 83.8 Billion by the year 2032 at a CAGR of 4.6% between 2022 and 2032.
Cane sugar is beneficial for hydration, body protein levels, and blood insulin levels. It’s used to sweeten pastries and hot drinks, and it’s often preferred over other sugars because of its slightly fruity flavor, availability, and sweetness. The cane sugar market is being propelled forward by rising consumer demand for cane sugar as a sweetener in food and beverage products.
The proliferation of food transactions in developing areas such as Asia Pacific and the Middle East and Africa is propelling the cane sugar industry forward globally. The increased demand for alcoholic and non-alcoholic beverages has propelled the cane sugar market forward significantly. The cane sugar market is expected to develop in the next years due to rising desire for baked goods, sweet confectionaries, and dairy products such as milk-based drinks, yoghurt, and ice creams.
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There are diverse demands based on consumer taste, leading cane sugar makers to be continually focused on contemporary cane sugar trends and market advancements in various applications. In terms of product quality, cost-effectiveness, and advancements in the manufacturing process, the cane sugar industry is fiercely competitive.
The demand for cane sugar as a sweetener is growing due to a rise in demand from various industries. Cane sugar is used as a source of energy, trace minerals, and antioxidants in the food and beverage industries, allowing for substantial growth in the cane sugar market.
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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Competitive Cane Sugar
- Adani Wilmar, in May 2021, came up with ‘Fortune Online’ – its mobile app for making customers’ lives easy.
- The Sugar Research Institute of Fiji, in November 2021, did release a variety of cane for planting at commercial level. This variety does have a higher content of sugar leading to a better yield, increase in overall production of sugar, and greater income for growers.
- MSM Malaysia Holdings Bhd, in December 2021, entered into collaboration with Wilmar Sugar Pte Ltd. for building a sustainable supply chain for sugar. Sustainability performance could be monitored on the basis of NDPE Sugar Policy.
- ASR Group, in August 2022, entered into collaboration with Raizen for providing certified non-GMO cane sugar options. The purpose of partnership is that of creating a 100% traceable, sustainable, and non-GMO-certified supply chain pertaining to raw cane sugar.
- Shell, as per long-term contract with Brazil-based Razen, agreed upon buying 3.25 Billion liters of sugarcane cellulosic ethanol. Razen plans to build 5 plants in Brazil, thereby expanding the portfolio of these cellulosic ethanol facilities to 9.
What does the Report tame?
- The research study is based on product type (liquid sugar, powdered sugar, granulated textured sugar, granulated flavored sugar, granulated colored sugar, pulp, and likewise), nature (conventional and organic), and application (dairy, bakery, confectionery, beverages, conned & frozen foods, pharmaceuticals, and the other food items).
- With realization of the fact that cane sugar is advantageous for body protein levels, hydration, and blood insulin levels, the global cane sugar market is bound to grow on an exhilarating note in the forecast period.
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