Global Cane Sugar Market Size 2024, Forecast To 2033
6 Mar, 2024
The cane sugar market size has grown steadily in recent years. It will grow from $178.14 billion in 2023 to $183.07 billion in 2024 at a compound annual growth rate (CAGR) of 2.8%. The growth in the historic period can be attributed to global population growth, cultural and culinary preferences, expansion of the food and beverage industry, industrial applications, and substitute for artificial sweeteners. The cane sugar market size is expected to see steady growth in the next few years, reaching $206.95 billion in 2028 at a compound annual growth rate (CAGR) of 3.1%. The growth in the forecast period can be attributed to increasing demand for natural ingredients, market expansion in developing regions, growing awareness of sustainable agriculture, consumer preferences for authentic and traditional foods, and climate change impact on sugar production. Major trends in the forecast period include product innovation and reformulation, clean label and non-GMO trends, technological advancements in processing, and transparent and sustainable packaging.
Global Cane Sugar Market Key Driver
The rising demand for sugar-rich confectionery products and soft drinks is expected to propel the growth of the cane sugar industry going forward. Sweets, candied nuts, chocolates, chewing gum, sweetmeats, pastillage, and other confections that contain sugar are referred to as confectionery products. Confectionery products use cane sugar as a common sweetener mostly in foods, drinks, and bakery goods, as a result, the rising demand for sugar-rich confectionery products and soft drinks increases the demand for the cane sugar market. For instance, in March 2023, according to the report published by Farm Credit Canada, a Canada-based agricultural term lender, sales in the Canadian sugar and confectionery sector reached 15.0% in 2021 to $4.5 billion. The majority of the sales increase came from volume growth, which saw manufacturing selling prices rise by over 4.9%. Therefore, the rising demand for sugar-rich confectionery products and soft drinks is driving the growth of the cane sugar market.
Get A Free Sample Of The Global Cane Sugar Market ReportGlobal Cane Sugar Market Segments
The cane sugar market covered in this report is segmented –
1) By Form: Crystallized Sugar, Liquid Syrup
2) By Category: Organic, Conventional
3) By Distribution Channel: Offline Channels, Online Channels
4) By Application: Bakery And Confectionery, Dairy, Food And Beverages, Other Applications
By Geography:The regions covered in the cane sugar market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
Asia-Pacific was the largest region in the cane sugar market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global cane sugar market during the forecast period. The regions covered in the cane sugar market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Cane Sugar Industry Players
Global Organics Limited, Louis Dreyfus Company, Associated British Foods plc, Tate & Lyle plc, Anthony’s Goods, Delphi Organic GmbH, DO IT ORGANIC, Florida Crystals, Nanning Sugar Industry Co. Ltd., Wholesome Sweeteners Inc., American Crystal Sugar Company, ASR Group International Inc., Balrampur Chini Mills Limited, Tongaat Hulett Sugar South Africa Limited, Suedzucker AG, Tereos, Cosan S.A., Mitr Phol Sugar Corporation Ltd., Nordzucker AG, Biosev S.A., Wilmar International Limited, Thai Roong Ruang Group, Bunge Limited, Cargill Inc., Archer Daniels Midland Company, Raizen Energia S.A., Guangxi Guitang Group Co. Ltd., Al Khaleej Sugar Company, East India Distilleries Parry Limited, Dalmia Bharat Sugar and Industries Ltd., Illois Sugar Inc., Okeana Sugar, Mauritius Sugarcane Industry Research Institute (MSIRI), Whitsunday Sugar Limited, Fiji Sugar Corporation
Get The Full Global Cane Sugar Market ReportCane Sugar Market Overview
Cane sugar is a category of sugar derived exclusively from sugarcane. It is primarily used as a sweetener, preservative, texture modifier, fermentation substrate, flavoring and coloring agent, and bulking agent.
Cane Sugar Global Market Report 2023 provides data on the global cane sugar market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The cane sugar market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.