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Industrial Sugar Market Size

Report ID: GMI6394
Published Date: Aug 2023
Report Format: PDF

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Industrial Sugar Market Size

Industrial Sugar Market size was valued at USD 43.5 billion in 2022 and is estimated to grow at over 5.3% CAGR from 2023 to 2032. The food and beverage industry is the largest consumer of industrial sugar, using it as a sweetening agent in a wide range of products, including confectionery, soft drinks, baked goods, and dairy products. Sugar is used as an excipient in pharmaceutical formulations to improve the taste and mouthfeel of medicines, especially in pediatric and geriatric formulations.

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Sugar serves as a fermentation substrate for the production of various industrial chemicals, such as ethanol, butanol, and organic acids. Sugar is a feedstock for biofuel production, where it is converted into bioethanol to replace fossil fuels.

Industrial Sugar Market Report Attributes
Report Attribute	Details
Base Year:	2022
Industrial Sugar Market Size in 2022:	USD 43.5 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	5.3%
2032 Value Projection:	USD 72.9 Billion
Historical Data for:	2018 to 2022
No. of Pages:	150
Tables, Charts & Figures:	191
Segments covered:	Type, Application, Distribution Channel, Region
Growth Drivers:	Growing food and beverage industry Expansion of the pharmaceutical industry Increasing demand for biofuels
Pitfalls & Challenges:	Price volatility of sugar Changing regulations Health Concerns and Sugar Taxes

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The price of sugar is subject to volatility due to factors such as weather conditions, changes in supply and demand dynamics, and government policies. Fluctuating prices can lead to uncertainty for buyers and sellers in the industrial sugar market. The industrial sugar industry is subject to strict regulations regarding safety, quality, and food additives in different countries. Growing health concerns related to excessive sugar consumption have led to the implementation of sugar taxes in some regions.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of industrial sugar recorded USD 43.5 billion in 2022 is estimated to reach USD 72.9 billion by the end of 2032, due to increasing usage of sweetening agents in a wide range of products, including confectionery, soft drinks, baked goods, and dairy worldwide.

Demand for cane industrial sugar reached USD 13.7 billion in 2022 and is expected to grow exponentially through 2032, owing to widespread application in food and beverage processing, pharmaceuticals, and chemical production.

The food and beverage application segment held 40% revenue share in 2022 and is expected to witness significant growth by 2032, due to rapid adoption of sugar as a primary sweetener in a vast array of food and beverage products.

U.S. market was valued at USD 1 billion in 2022 and will see significant growth through 2032, attributed to the increasing use in the food and beverage industry.