Refined Cane Sugar Market Poised To Surpass US$ 54,800 Mn by 2022-end
Published : 10 Aug 2017 Industry: Food & Beverage
The global consumption of refined cane sugar is on the rise. Fact.MR’s latest study on the global refined cane sugar market reveals that increased use of these sugars in various food and beverage items will continue to drive its sales across the globe. As per the study, the refined cane sugar market is set to surpass a valuation of US$ 54,800 Mn, riding at a moderate CAGR over the forecast period (2017-2022). Increasing consumer awareness about healthier food ingredients is expected to reflect favorably on the global market for refined cane sugar over the next couple of years. Due to high refinement, refined cane sugar can be easily used in most food products. In addition, refined cane sugar is a popular food ingredient in many of the emerging and developed nations. The product is a key source of essential nutrients and is available in a number of variants and flavours. On the other hand, the extended refining procedure can sometimes diminish its nutritional and fiber content. The additional refining process eventually leads to a higher costing of manufacturing the product, making it more expensive than standard variants. Countries such as India, China, Thailand, Indonesia, and Vietnam are the leading producers of refined cane sugar, owing to the widespread availability of sugarcane in these countries.
Key Insights Form The Report Include
Demand for liquid refined cane sugar is expected to remain strong over the assessment period. Currently, global sales of liquid refined cane sugar accounts for around 23% revenue share of the market. Towards the end of 2022, more than US$ 12,747 Mn worth liquid refined cane sugar is estimated to consumed worldwide. Consumption of powdered refined cane sugar is also anticipated to increase in the near future. In terms of revenue, global sales of powdered refined cane sugar currently command for around 17% market share. Increasing consumption of liquid and powdered refined cane sugar is proving instrumental in driving the growth of the overall market.
Asia-Pacific Excluding Japan (APEJ) to Remain at the Forefront
Asia-Pacific excluding Japan (APEJ) is projected to remain the most attractive market for refined cane sugar in 2017 and beyond. This is primarily owing to the high production of sugarcane in the region. The region’s market is anticipated to exhibit steady CAGR during the forecast period. Meanwhile, consumption of refined cane sugar is also increasing in the Middle East and Africa (MEA), the market in the region is expected to register an impressive growth over 2022. During the same period, Europe’s refined cane sugar market is expected to reach a valuation of more than US$ 7,430 Mn.
Some of the Leading market players operating is the global market for refined cane sugar include Shree Renuka Sugars Limited, American Crystal Sugar Company, Louis Dreyfus Company B.V., Tereos international limited, Cosan SA, E.I.D.-Parry (India) Limited, Associated British Foods Plc., Tongaat Hulett Sugar South Africa Limited, and Raizen S.A.