Latin America Industrial Sugar Market

Latin America Industrial Sugar market Size, Share, Growth (2022-2027)

Latin American market was valued at USD 5.86  billion in 2021 and is expected to reach USD 8.03 billion by 2027 to grow at 6.5 % CAGR

Overview

Sugar is one of the most important commodities worldwide, as it is widely consumed in a variety of different foodstuffs. Sugar is considered as 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 the international markets.The 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. Bet 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 for the production of sugar, resulting in the destruction of natural rainforests, mangroves, and reduction in the areas of polyculture production.

Latin America Industrial Sugar market Segmentation

on the basis of

• Type

• Form

• Application

• Source

On the basis of type

• White

• Brown

• Liquid

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.

On the basis of Form,

• Granulated

• Powdered

• Syrup

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.

On the basis of the Application

• Dairy

• Bakery

• Confectionery

• Beverage

• Canned & Frozen Foods

Confectionery is the largest and fastest-growing segment 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

On the basis of Source

• Cane Sugar

• Beet Sugar

Latin America Industrial Sugar market Regional Analysis

• Argentina

• Brazil

• Mexico

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

Latin America Industrial Sugar market Keyplayers

1. Cargill Incorporated

2. Archer Daniel Midland

3. Raizen SA

4. Sudzucker AG

5. Tereos, Nordzucker Group AG

6. Tongaat Hulett Group

7. Illovo Sugar (Pty) Ltd

8. Dangote Group

9. E.I.D Parry Limited