Cane Sugar Market: Global Industry Analysis and Forecast (2023-2029)

Cane Sugar Market was valued at US$ 226.89 Bn. in 2022. Cane Sugar Market size is expected to grow at a CAGR of 1.31% through the forecast period and it will reach US$ 248.54 Bn. in 2029.
Cane Sugar Market Overview:
Cane Sugar is used as raw material for the production of various substances like sugar, jaggery, and ethanol. The byproduct of cane sugar, i.e., molasses is used for the production of candy, rum, animal feed, vinegar, citric acid and ethanol. Ethanol is used in the beverage industry, but the primary use of sugarcane is a sweetener in an enormous variety of products such as drinks, food products, and pharmaceutical formulations. An increase in the growth of food processing activities resulted in the growth of this market. All of these factors combine to make sugar cane a commercially valuable crop. The COVID 19 pandemic has affected the Cane Sugar Market as all importer and exporter countries faced problems in their distribution channels. Also, it raised health concerns among the people. This caused a decrease in the supply of Sugarcane as well as its products.To know about the Research Methodology :- Request Free Sample Report
Cane Sugar Market Dynamics:
Market Drivers:

Need for sugarcane by industries resulted in a rise in production which indirectly became an important Cane Sugar Market driver. Advancements in conventional sugar and the availability of different and superior flavors and aromas also driving the Cane Sugar Market significantly.

Increase in demand by various industries: Various industries like food and beverage industries, chemical industries, and pharmaceutical industries use sugar cane as a sweetener, as the source of energy, minerals, and trace elements. This is the main reason behind the increase in growth of a Global Cane Sugar Market. A major driver of the Cane Sugar Market is the food and beverage industry.

The rise in production of sugarcane: To fulfill the demand of various industries, the production of sugarcane is increased in many countries like Brazil, India, China, and countries in European Union. Brazil and India are the top two sugarcane-producing countries in 2022. This increased the Cane Sugar Market. Sugar is easily available and more economical in comparison with its other substitutes.

Market Restraints:

High intake of sugar leads to risk factors for heart diseases like high blood pressure and obesity. The industry’s preference for the choice of sweetener is shifting towards artificial sweeteners like saccharin because it is 200-700 times sweeter than sugar.

Challenges:

Some countries have strict regulations and implementation of taxes of the import and export of ethanol. This is a primary faced challenge in Cane Sugar Market.

In December 2021, to establish a sustainable sugar supply chain, two companies namely Wilmar Sugar Pte Ltd and MSM Malaysia Holdings Bhd (MSM), signed an agreement to work in collaboration.

They started efforts to improve the sugar supply chain and its overall effectiveness.
In November 2021, there was an announcement of releasing a new commercial variety of sugar cane by the Sugar Institute of Fiji.

Market Trends: The export and import of organic cane sugar has increased. Despite widespread criticism of sugar consumption, organic sugar has crucial characteristics that are driving consumer demand increase. Over typical traditional cane sugar, these features include availability, texture, cost, eco-friendliness, nutrition benefits, and a deep sugarcane flavour. Organic cane sugar has a distinct molasses aroma that appeals to consumers since it preserves all of the nutrients found in its natural state. Few countries, such as the United States, have a significant source of organic cane sugar capable of meeting domestic demand, and total sugar consumption in the country is expected to be around 200,000MT in 2021, so most organic cane sugar marketed in the country (both in retail and as an ingredient) is imported.
Cane Sugar Market Segment Analysis:
Based on Category, the Cane Sugar Market is segmented into organic sugar and conventional sugar. There are more health benefits of organic sugar as compared to conventional one. Also, its rich aroma attracted more customers globally. Hence, the market share and the growth of the organic sugar segment is more than the conventional segment. Some countries like the US are the importer of organic sugar because the demand for organic sugar is not fulfilled by the domestic market. While the advancements in conventional sugar like brown cane sugar are driving the market of this segment.Based on the Form, the Cane Sugar Market is segmented into Crystallized sugar and non-crystallized sugar. The crystallized sugar segment dominated the market with a 72% share in 2021 and is expected to hold its position during the forecast period. The crystallized segment is again divided into two segments viz, single coated sugar and double-coated sugar, in which double-coated sugar dominated the market. The single crystallized segment is expected to have a higher growth rate than double-coated sugar segment.
Cane Sugar Market Regional Insights:
The Asia Pacific region dominated the market with a 39 % share in 2021. The Asia Pacific region is expected to witness significant growth at a CAGR of 1.37% through the forecast period. Because of the high consumption rate as well as revenue growth, the Asia Pacific region is growing at a faster rate.

As an exporter, Brazil dominated the market as it is producing a large amount of raw sugar. Brazil produces nearly 39 million tons per year which is 29% of global production. India is at the second top position in the production of sugar and is expected to have significant growth through the forecast period. While as an importer, Indonesia, US and China are at the top positions. As mentioned above, the US is an importer as it is not able to fulfil the demand by domestic production.

The objective of the report is to present a comprehensive analysis of the global Cane Sugar Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear, futuristic view of the industry to the decision-makers.

The reports also help in understanding the Cane Sugar Market dynamic, structure by analyzing the market segments and projecting the Cane Sugar Market size. Clear representation of competitive analysis of key players by Vehicle type, price, financial position, product portfolio, growth strategies, and regional presence in the Cane Sugar Market make the report investor’s guide.
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Cane Sugar Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US$ 226.89 Bn.


Forecast Period 2023 to 2029 CAGR:
1.31%
Market Size in 2029:
US$ 248.54 Bn.


 Segments Covered:
by Category
Organic
Conventional


by Form
Crystallized Sugar
Non-crystallized sugar


by Application
Dairy
Bakery
Beverages
Others



Cane Sugar Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Cane Sugar Market, Key Players:
1. Global Organic Ltd
2. Florida Crystals
3. Wholesome Mindfully Delicious
4. Anthony’s Goods
5. Organic Delight
6. Biosev
7. Delphi Organic
8. Nanning Sugar Industry
9. Raizen
10.Cosan
11.Wilmar Sugar Australia Ltd
12.Shree Renuka Sugars
13.Bajaj Hind
14.Balrampur Chini Mills Ltd
15.Louis Dreyfus Company

Frequently Asked Questions:

1] What segments are covered in the Global Cane Sugar Market report?
Ans. The segments covered in the Cane Sugar Market report are based on category and form.

2] Which region is expected to hold the highest share in the Global Cane Sugar Market?
Ans. The Asia Pacific region is expected to hold the highest share in the Cane Sugar Market.

3] What is the market size of the Global Cane Sugar Market by 2029?
Ans. The market size of the Cane Sugar Market by 2029 is expected to reach US$ 248.54 Bn.

4] What is the forecast period for the Global Cane Sugar Market?
Ans. The forecast period for the Cane Sugar Market is 2023-2029.

5] What was the market size of the Global Cane Sugar Market in 2022?
Ans. The market size of the Cane Sugar Market in 2022 was valued at US$ 226.89 Bn.