North America market was valued at USD 12.15 billion in 2023 and is expected to reach USD 16.85 billion by 2028 to grow at 6.01% CAGR from ( 2023-2028)
Sugar is one of the most important commodities worldwide, as it is widely consumed in various 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 industrial sugar category includes sweeteners used by confectionery manufacturers, as well as in the bakery, food service, pharmaceutical, and beverage industries. Industrial sugar offers a wide range of sweetening solutions to manufacturers. Industrial sugar is an important commodity that is traded on the international market. India is a popular country where industrial sugar is grown and exported all over the world. It is a sweet, soluble carbohydrate that is used in addition to various foods. There are different types of industrial sugar that come from a variety of sources. Table sugar or granulated sugar is the most common form of sugar that our body consumes, it is usually used as sucrose in the form of food additives. Industrial sugar beet is another important source of industrial sugar that recently gained popularity during the 19th century. It is grown as a root crop in temperature regions that experience adequate rainfall with sufficient fertility for the soil.
Recent Developments
In March 2021, U.S. Sugar agreed to buy a sugar refinery in Georgia. The U.S. Sugar announced that the company had agreed with the Louis Dreyfus Company (LDC) to acquire the business and assets of Imperial Sugar Company, a port refinery with operations in Georgia and Kentucky. The acquisition returns Imperial Sugar to wholly American ownership. LDC, based in Geneva, Switzerland, is a global trader and processor of agricultural products with properties in more than 100 countries.
The Adani Group could acquire the sugar business of Shree Renuka Sugars Ltd, India's largest sugar producer, from Wilmar Sugar Holdings through Adani Wilmar Ltd, a senior company official told Mint.
US Company Castlelake is considering acquiring stakes in troubled sugar and ethanol companies in Brazil. Requesting the source's anonymity, since they are not authorized to speak about the plan, he says that the company has excessive details about the five companies in Brazil that work in the ethanol and sugar industry. The company has already entered into talks with two or three companies to buy the controlling shares, the source said, without giving further information on the ongoing discussion.
The market is driven by factors such as rise in average international prices and 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.The economics of production is influenced by the evolution of the cultivation and trade of sugar crops. Sugar prices and sugar crops have grown very strongly in recent years. The strong growth of the food industry and the increase in imports-exports are driving the growth of the industrial sugar market. Let's bet that, as it may be, alternative sweeteners and water-consuming monoculture industrial sugar production are the main constraints in the industrial sugar market, as it requires a lot of space for sugar production, leading to the destruction of the forests: natural tropics, mangroves and reduced polyculture areas. However, growth has varied in different regions of the world but has not had significant changes in its consumption.
Type
Form
Application
Source
On the basis of type
White
Brown
Liquid
Factors such as rising demand for confectionery products, growing retail market, and product portfolio expansion 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.
Based on Form
Granulated
Powdered
Syrup
This crystallized 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
Food Items & Pharmaceuticals
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 to the growth of the industrial sugar market.
Based on Source
Cane Sugar
Beet Sugar
Sugarcane production is higher than sugar beet production, as all the major developing countries are involved in the manufacturing of cane sugar.
COVID-19 is affecting economies and various industries in different countries due to roadblocks, travel bans, and business closures. The closure of several manufacturing plants and factories has also been affected, global supply chains have also negatively impacted manufacturing, delivery schedules, and sales of goods in the global market. Additionally, global travel bans imposed by countries in Europe, Asia-Pacific, and North America also affect business collaborations, as well as partnership opportunities. he disruptive value chain has had a negative impact on the supply of raw materials, which in turn is affecting the growth of the herb ice cream market. However, as economies plan to restart operations, the demand for plant-based ice cream is expected to increase as consumers purchase more food products through online retailers. Some of the safety measures that companies follow include limiting direct contact with the delivery person and visitors, reinforcing and communicating good hygiene practices, conducting thorough sanitation, and eliminating contact with staff during shift changes. With all these factors, it can be assumed that in a post-pandemic period, the demand for these products will increase.
North America Industrial Sugar Market Regional Analysis:
United States
Canada
Mexico
the rest of North America
North America is the largest consumer of this type of product. Recently, developing regions have been in great demand by producers and the trend of this consumption is reflected in developing countries.
Cargill Incorporated
Archer Daniel Midland
Raizen SA
Sudzucker AG
Tereos
Nordzucker Group AG
Tongaat Hulett Group
Illovo Sugar (Pty) Ltd
Dangote Group
E.I.D Parry Limited
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 2000
Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM
Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: [email protected]
Reports By Region