The global cane sugar market was worth US$ 53.6 Billion in the year 2022 and is expected to reach US$ 83.8 Billion by the year 2032 at a CAGR of 4.6% between 2022 and 2032.
Cane sugar is, apart from maintaining blood insulin levels, used for sweetening pastries as well as hot drinks. Moreover, it overpowers the other sugars due to its fruity flavor. Also, growing demand for non-alcoholic and alcoholic beverages is expected to keep the cash registers ringing for cane sugar market. With millennials going for milk-based drinks, ice-creams, yoghurt, sweet confectioneries, and baked goods, the global cane sugar market is estimated to go great guns in the forecast period.
At the same time, availability of better substitutes of sugar like stevia, coconut sugar is expected to restrain the cane sugar market going forward. Also, the American Heart Association (AHA) does recommend strict-sugar limit of over 100 calories/day for women and 150 calories/day for men.
“With the fact that cane sugar is useful for hydration, maintaining body protein levels and blood insulin levels, the global cane sugar market is likely to grow incessantly in the forecast period”, says an analyst from Future Market Insights.
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Key Takeaways from Cane Sugar Market
- North America holds the largest market share with the US being subject to an ever-increasing demand for low-calorie sugar. Cane sugar is also known for extending baked goods’ shelf life, along with exceptional homogeneity and consistency.
- Europe holds the second-largest market share with end-consumers turning out to be concerned regarding agricultural activities’ environmental impact.
- The Asia-Pacific is expected to grow at the fastest rate in the cane sugar market with India taking the lead. The country is the second-biggest producer of sugarcane across the globe.
Competitive Cane Sugar
- Adani Wilmar, in May 2021, came up with ‘Fortune Online’ – its mobile app for making customers’ lives easy.
- The Sugar Research Institute of Fiji, in November 2021, did release a variety of cane for planting at commercial level. This variety does have a higher content of sugar leading to a better yield, increase in overall production of sugar, and greater income for growers.
- MSM Malaysia Holdings Bhd, in December 2021, entered into collaboration with Wilmar Sugar Pte Ltd. for building a sustainable supply chain for sugar. Sustainability performance could be monitored on the basis of NDPE Sugar Policy.
- ASR Group, in August 2022, entered into collaboration with Raizen for providing certified non-GMO cane sugar options. The purpose of partnership is that of creating a 100% traceable, sustainable, and non-GMO-certified supply chain pertaining to raw cane sugar.
- Shell, as per long-term contract with Brazil-based Razen, agreed upon buying 3.25 Billion liters of sugarcane cellulosic ethanol. Razen plans to build 5 plants in Brazil, thereby expanding the portfolio of these cellulosic ethanol facilities to 9.
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What does the Report tame?
- The research study is based on product type (liquid sugar, powdered sugar, granulated textured sugar, granulated flavored sugar, granulated colored sugar, pulp, and likewise), nature (conventional and organic), and application (dairy, bakery, confectionery, beverages, conned & frozen foods, pharmaceuticals, and the other food items).
- With realization of the fact that cane sugar is advantageous for body protein levels, hydration, and blood insulin levels, the global cane sugar market is bound to grow on an exhilarating note in the forecast period.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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