Global Powdered Sugar market analysis 2024, Forecast To 2033
4 Mar, 2024
The powdered sugar market size has grown steadily in recent years. It will grow from $5.79 billion in 2023 to$6.07 billion in 2024 at a compound annual growth rate (CAGR) of 4.8%. The growth in the historic period can be attributed to industrialization of food processing, consumer preference for convenience foods, advancements in sugar refining, expansion of the confectionery market. The powdered sugar market size is expected to see steady growth in the next few years. It will grow to $7.36 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%. The growth in the forecast period can be attributed to continued growth in bakery sector, increased adoption of ready-to-eat foods, healthier variants and sugar alternatives, expansion of food and beverage industry, innovations in branding. Major trends in the forecast period include technological advancements in production, rise in home baking and cooking trends, customization and specialty variants, expansion of foodservice industry, innovation in packaging and presentation.
Global Powdered Sugar Market Key Driver
Increasing demand for dairy food is expected to propel the growth of the powdered sugar market going forward. Dairy products are liquids and non-edible products created or extracted from a mammal's milk, such as a cow, goat, ewe, or water buffalo. Powdered sugar gives dairy and bakery products a pleasing texture, fluffier form, and delectable flavor. Due to such benefits, there is an increasing demand the powdered sugar. . For instance, in November 2021, according to the Dairy Foods Magazine, a US-based online publication that covers various aspects of the dairy and dairy foods industry, flavored milk sales in dollars climbed 4.8% to $1,646,5 million, while sales in units increased 1.0% to $658.2 million. Therefore, increasing demand for dairy food is driving the growth of the powdered sugar market. In 2023, the market size for powdered sugar is valued at X, and it is projected to reach Y by 2028.
Get A Free Sample Of The Global Powdered Sugar Market ReportGlobal Powdered Sugar Market Segments
The global powdered sugar market covered in this report is segmented –
1) By Type: Conventional, Organic
2) By Form: Extra Fine, Coarse-Grained, Decoration, Other Forms
3) By Distribution Channel: Direct, Indirect
4) By Application: Confectionary, Bakery, Dairy, Beverages, Other Applications
By Geography: The regions covered in the powdered sugar market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
North America was the largest region in the powdered sugar market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the powdered sugar market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Powdered Sugar Industry Players
Südzucker AG, Tate & Lyle Sugars, Cargill Incorporated, Nordic Sugar A/S, American Crystal Sugar Company, Domino Foods Inc., Taikoo Sugar Ltd., Wholesome Sweeteners Inc., Nanning Sugar Industry Co. Ltd., Cofco International, Corporación Azucarera del Pacífico S.A., Barry Callebaut AG, Olam International, Ingredion Incorporated, United Sugars Corporation, Imperial Sugar Company, Michigan Sugar Company, Rogers Sugar Inc., Florida Crystals Corporation, Redpath Sugar Ltd., The Western Sugar Cooperative, Amalgamated Sugar Company LLC, The Mennel Milling Company, The Andersons Inc., The C F Sauer Company, Sugar Corporation, The Hershey Company, The J M Smucker Company, The Kraft Heinz Company, Nordzucker Group, Tereos Internacional SA, Raffinerie Tirlemontoise, Eridania Sadam, British Sugar PLC, Südzucker Polska AG, Rübenanbauerverband, Agrana Zucker GmbH, Pfeifer & Langen, Zucarmex SA
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Powdered Sugar Market Overview
Powdered sugar refers to a fine powder made from white sugar that has been crushed into granules. This sugar has a fine texture and has a chalky sensation, in contrast to the sandy and coarse texture of granulated sugar.
Powdered Sugar Global Market Report 2023 provides data on the global powdered sugar market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The powdered sugar market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.