Latin America Industrial Sugar Market

Latin America Industrial Sugar Market Size (2024 to 2029)

The industrial sugar market size in Latin America was valued at USD 6.65 billion in 2023. The Latin American market is further expected to grow at a CAGR of 6.5% from 2024 to 2029 and be worth USD 9.7 billion by 2029 from USD 7.08 billion in 2024.

Sugar is one of the most important commodities worldwide, as it is widely consumed in a variety of different foodstuffs. Sugar is considered one of the most important commodities and is produced and consumed around the world, of which around 70% of production is consumed in domestic markets, and only 30% is traded in international markets.

The growth of the Latin American industrial sugar market is driven by factors such as a rise in average international prices and the importance of international trade, value addition of products from sugar cane by focusing on emerging by-products through integrated sugar complexes, expanding sugar crop production, growth in the industrial beet sugar market, consumption of packed food & beverage items, and the usage of sugar in healthy products such as low-calorie bakery and confectionery products. Factors such as rising demand for confectionery products, growing retail market, and expansion of product portfolio are driving the demand for industrial sugar. Changing consumer preferences about different products has led to an upsurge in the consumption of different food and beverage products.

Be that as it may, alternate sweeteners and water-consuming monoculture production of industrial sugar are the major restraints of the industrial sugar market as this requires a lot of space to produce sugar, resulting in the destruction of natural rainforests, mangroves, and reduction in the areas of polyculture production.

SEGMENTAL ANALYSIS

Based on type of form, the granulated segment is expected to have the major share of the Latin American industrial sugar market during the forecast period. The granulated form is the most extensive type of industrial sugar used. This crystallized form of sugar is also used as a preservative for different end-use applications such as candied fruits, jams, and marmalades; thereby, increasing its functionality and driving its consumption.

Based on application, the confectionery segment is the largest and fastest-growing segment in the Latin American market during the forecast period due to its use in a wide variety of applications and consumption of confectionery products such as marmalade, chewing gum, sweets, candied nuts, chocolates, and chewing gum. The growing population and technological advancements in developing economies are expected to contribute extensively towards the growth of the Latin American industrial sugar market

REGIONAL ANALYSIS

Brail is anticipated to hold the leading share of the Latin American market during the forecast period. Brazil is the largest producer of sugar worldwide. Higher industrial sugar production in this region is attributed to the tropical climate favorable for sugarcane crop.

KEY PLAYERS IN THE LATIN AMERICA INDUSTRIAL SUGAR MARKET

Cargill Incorporated, Archer Daniel Midland, Raizen SA, Sudzucker AG, Tereos, Nordzucker Group AG, Tongaat Hulett Group, Illovo Sugar (Pty) Ltd, Dangote Group and E.I.D Parry Limited are some of the notable companies in the Latin American industrial sugar market.

DETAILED SEGMENTATION OF THE LATIN AMERICA INDUSTRIAL SUGAR MARKET INCLUDED IN THIS REPORT

This research report on the Latin American industrial sugar market has been segmented and sub-segmented based on the following categories.

By Type

• White
• Brown
• Liquid

By Form

• Granulated
• Powdered
• Syrup

By Application

• Dairy
• Bakery
• Confectionery
• Beverage
• Canned & Frozen Foods

By Source

• Cane Sugar
• Beet Sugar

By Country

• Argentina
• Brazil
• Mexico
• Chile
• Rest of Latin America