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Cane Sugar Market Size, Share, Industry, Forecast and Outlook (2024-2031)

Published: November 2023 || SKU: FB7374
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Global Cane Sugar Market is Segmented By Nature (Organic, Conventional), By Form (Crystallized Sugar, Liquid Sugar), By Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, E-Commerce, Others), By Application (Food and Beverages, Nutritional Supplements, Animal Nutrition, Personal Care and Cosmetics, Others), and By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030

 

Cane Sugar Market Size

The Global Cane Sugar Market reached US$ 52.3 billion in 2022 and is expected to reach US$ 79.7 billion by 2030, growing with a CAGR of 5.4% during the forecast period 2023-2030.

The cane sugar market is a pivotal and integral component of the global food and beverage industry. It plays a crucial role in satisfying the sweetening needs of consumers on a global scale, boasting historical and economic significance. It is a cornerstone of the global agri-food industry, plays a pivotal role in producing and supplying this universally cherished sweetener.

Cane sugar, predominantly sourced from sugarcane, and occasionally from sugar beets, holds a central position in the global food and beverage sector. Its ability to enhance flavor, texture, and sweetness makes it a foundational component in a multitude of products. From confectionery and baked goods to soft drinks and processed foods, cane sugar stands as an essential element in satisfying the global sweet cravings.

Similarly, Asia-Pacific dominates the cane sugar market, capturing the largest market share of over 1/3rd. The expansion of the cane sugar market in Asia-Pacific is projected to persist, underpinned by burgeoning populations, urbanization, and evolving consumer preferences. Nonetheless, the industry must prioritize sustainability and adaptability. This involves implementing environmentally responsible practices to meet changing consumer demands.

Cane Sugar Market Scope

Metrics

Details

CAGR

5.4%

Size Available for Years

2021-2030

Forecast Period

2023-2030

Data Availability

Value (US$)

Segments Covered

Nature, Form, Distribution Channel, Application, and Region

Regions Covered

North America, Europe, Asia-Pacific, South America and Middle East & Africa

Largest Region

Asia-Pacific

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights.

 

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Cane Sugar Market Dynamics

Growing Technological Advancements

One of the most significant transformations in sugarcane cultivation is the adoption of precision agriculture and smart farming practices. These innovations harness technology, including GPS-guided machinery and remote sensing, to optimize resource usage and augment crop yield. Precision agriculture relies on GPS technology to direct farming equipment, resulting in more accurate and efficient planting, harvesting, and other farming activities.

Advanced sensors and remote sensing techniques supply real-time data on crop health, soil conditions, and weather patterns. Data analytics tools process this information to make informed decisions about irrigation, fertilization, and pest control. This precise resource management has elevated sugarcane yields while reducing the environmental impact.

Marker-assisted selection techniques enable breeders to identify desirable traits in sugarcane varieties more swiftly and accurately. This has sped up the breeding process, yielding improved cultivars. In addition to farming, technological advancements have transformed the way sugarcane is processed, ensuring more sustainable and efficient methods of sugar extraction and production.

In September 2021, the Sugar Mapping Tool was launched by Bonsucro, a global non-profit organization that promotes sustainability in the production and use of sugarcane, and SupplyShift, a platform for sustainable supply chain technologies. The tool is a brand-new cloud-based program that lets businesses track and evaluate the sustainability of global sugar supply networks. One may utilize the tool on SupplyShift instantaneously.

Steady Demand for Sugary and Processed Foods

The fondness for sweetness is commonly seen among consumers. Across diverse cultures and geographical regions, people have an inherent inclination toward sweet flavors, and this preference extends beyond natural sugar sources. The suagry and processed food products are formulated to gratify not only our craving for sweetness but also our yearning for convenience and flavor. The landscape of sugary and processed foods is extensive, and ongoing innovation in the food industry continues to broaden its horizons.

Food producers and marketers wield significant influence in maintaining the demand for sugary and processed foods. They employ diverse strategies to foster and sustain consumer interest. Innovations in food products consistently introduce new flavors, formats, and combinations. Limited-edition releases and seasonal offerings generate a sense of novelty and anticipation among consumers.

Health and Dietary Concerns

One of the foremost constraints impacting the cane sugar market is the heightened awareness of health and dietary issues. It has become apparent in recent years that dietary choices have evolved considerably towards the adoption of nutritious dietary practices. Over then, the health consequences of sugars have come under greater scrutiny, especially in light of issues like obesity, diabetes, and dental health. 

The increased knowledge of health risks connected with excessive sugar consumption is the main factors limiting the market growth. Customers are actively looking for low-sugar or sugar-free alternatives as they become more health-concerned due to growing awareness of the dangers associated with consuming large amounts of sugar. The traditional sugar sector has difficulty as a result of this shift in consumer preferences because it now needs to meet the demand for healthier options.

Price Volatility

The cane sugar market is susceptible to global price fluctuations due to various factors, including weather events, currency exchange rates, and trade policies. Such price volatility can significantly impact the industry's profitability and long-term planning. Price volatility in the global sugar market can be attributed to several factors. Weather events, such as droughts or cyclones in major sugarcane-producing regions, can lead to crop yield reductions, affecting supply and prices.

Currency exchange rate fluctuations can impact the competitiveness of sugar exports and imports. Additionally, trade policies, including tariffs and subsidies, can influence the international trade of sugar, leading to market uncertainties. To counter this restraint, the cane sugar industry must focus on risk management and diversification. This involves exploring hedging strategies to mitigate the impact of price fluctuations and considering forward contracts to secure stable prices.

Cane Sugar Market Segment Analysis

The global cane sugar market is segmented based on nature, form, distribution channel, application, and region.

Demand for Organic Products Fuel Surge in Cane Sugar Market

The organic segment held 61.1% of the global market share. Organic cane sugar is more nutritious for those who desire to minimise overall intake of potentially lethal substances which are frequently associated with commercially grown sugarcane since it is free of herbicides, synthetic pesticides, and chemical fertilizers. The cultivation of organic sugarcane promotes sustainable farming practices. By avoiding synthetic chemicals and fostering healthy soil ecosystems, organic cane sugar production is less detrimental to the environment.

The use of non-GMO seeds in organic sugarcane farming aligns with consumer preferences for non-genetically modified organisms. Additionally, organic farming practices often incorporate fair labor standards and ethical treatment of workers, contributing to a more responsible and sustainable sugar industry.

Organic cane sugar is popular for its pure, natural flavor and rich aroma. The absence of synthetic chemicals allows the inherent sweetness of sugarcane to shine through, providing a more authentic and unadulterated sweetness. As consumers increasingly seek out organic products, including sugar, to align with their values of health and environmental responsibility, organic cane sugar caters to this growing demand, allowing individuals to make choices that resonate with their principles.

In January 2023, Under its Wholesome® brand, Whole Earth Brands, Inc., a global food company that promotes better living with premium plant-based sweeteners, flavor enhancers, and other foods, introduced some of the first Regenerative Organic Certified sweeteners to the market. In order to introduce its Regenerative Organic Certified cane and turbinado sugars across the country in January 2023, Wholesome has partnered with Whole Foods Market.

Cane Sugar Market Geographical Share

Rising Cane Sugar Consumption in Asia-Pacific

The Asia-Pacific cane sugar market held the largest market share of 38.3% in 2022 in the Cane Sugar market analysis. The growth of the cane sugar market in Asia-Pacific is a multi-faceted narrative set against a backdrop of evolving consumer preferences, economic development, agricultural advancements, and trade dynamics.

Asia-Pacific has a storied relationship with sugar, dating back to ancient civilizations. Nations like India and China were among the pioneers in sugarcane cultivation and sugar production. Over centuries, sugar knowledge diffused across the region. During the colonial era, sugarcane cultivation and processing underwent significant expansion, laying the groundwork for today's modern cane sugar industry.

Asia-Pacific is a diverse market. Each country within the region boasts its unique cultural and culinary traditions. These regional nuances influence sugar consumption patterns and preferences, catalyzing the diversification of sugar-based products. Advances in sugarcane cultivation and processing technologies have contributed to increased yields and enhanced sugar extraction rates. Additionally, the development of disease-resistant sugarcane varieties has bolstered production resilience.

ITC Trade Map, Trade statistics for global economic growth, states that in the year 2021, China ranked first having a value of import of USD 1,942,598 for raw cane sugar, next to the Republic of Indonesia having an import value in the range of USD 2,229,890. India is the second-greatest exporter of raw cane sugar, with a value of USD 1,340,793, following Thailand, which exports for USD 630,065.

Cane Sugar Market Companies

The major global players in the market include ADM, Cargill Incorporated, Bunge Limited, Wilmar International, Tereos, Südzucker AG, Louis Dreyfus Company, Mitr Phol Group, Cosan and EID Parry Ltd.

COVID-19 Impact Analysis

The initial phase of the pandemic threw supply chains and logistics into disarray, leading to shortages and delivery delays. This chaos was further amplified by panic buying and stockpiling of essential items, including sugar. The foodservice industry experienced a drastic shift in consumption patterns due to lockdowns and social distancing measures. The closure of restaurants and cafes resulted in reduced demand for sugar in the hospitality sector.

The ethanol market, in which sugar serves as a critical feedstock, witnessed a slowdown due to reduced fuel consumption during the pandemic. This dip in ethanol production, a byproduct of sugar processing, had repercussions on both the sugar and biofuel sectors. Sugar-producing nations grappled with labor shortages as migrant workers were unable to travel because of pandemic-related restrictions. This situation disrupted the sugarcane harvest, raising concerns about potential sugar shortages and increased production costs.

Changing consumer preferences shifted towards healthier and natural products, prompting an increased interest in alternative sweeteners. This trend added an element of competition for cane sugar within the sweetener market. As economies globally grappled with economic uncertainties, the focus shifted towards cost reduction and operational efficiency. Some sugar producers reevaluated their supply chain strategies and explored diversification opportunities.

Russia-Ukraine War Impact Analysis

The conflict between Russia and Ukraine has cast specific ramifications on the cane sugar market. Historically, both Russia and Ukraine have held substantial roles in sugar production. The conflict has disrupted the cultivation of sugarcane in these regions, resulting in production losses and uncertainties within the supply chain.

Export routes and transportation have been adversely affected, impeding the trade of sugar and potentially leading to increased prices and diminished availability in select markets. Investment in the modernization and expansion of sugar production facilities in these nations has been hampered, impacting future production capacity and operational efficiency.

The economic repercussions of the conflict have influenced currency exchange rates, potentially affecting international sugar trade and pricing. Sugar producers in neighboring countries have experienced heightened demand due to the production disruptions in Russia and Ukraine. This surge in demand has presented both opportunities and challenges as these producers strive to meet the rising market requirements.

By Nature

  • Organic
  • Conventional

By Form

  • Crystallized Sugar
  • Liquid Sugar
  • Powder

By Distribution Channel

  • Supermarkets/Hypermarkets
  • Specialty Stores
  • E-Commerce
  • Others

By Application

  • Food and Beverages
  • Nutritional Supplements
  • Animal Nutrition
  • Personal Care and Cosmetics
  • Others

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Russia
    • Rest of Europe
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Asia-Pacific
    • China
    • India
    • Japan
    • Australia
    • Rest of Asia-Pacific
  • Middle East and Africa

Key Developments

  • In October 2022, Piccadily Distilleries has introduced Camikara, a rum made from cane sugar juice. The business claimed that this is the first Indian pure cane juice rum to be aged for a full twelve years in American oak barrels. It is an aged rum that is naturally bottled at 50% ABV.
  • In May 2021, International Molasses, a supplier of molasses and natural sweeteners, introduced CaneRite panela, a powder sweetener that is naturally free-flowing and derived from the juice of the whole sugar cane plant.
  • In October 2020, In a partnership, DouxMatok and North American sugar producer Lantic will provide food firms in North America with a special cane sugar-based sugar reduction solution. The DouxMatok system was accessible in the US by 2021, having undergone validation through numerous customer testing and expert panels.

Why Purchase the Report?

  • To visualize the global cane sugar market segmentation based on nature, form, distribution channel, application and region, as well as understand key commercial assets and players.
  • Identify commercial opportunities by analyzing trends and co-development.
  • Excel data sheet with numerous data points of cane sugar market-level with all segments.
  • The PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
  • Product mapping available as Excel consisting of key products of all the major players.

The global Cane Sugar market report would provide approximately 68 tables, 69 figures and 212 Pages.

Target Audience 2023

  • Manufacturers/ Buyers
  • Industry Investors/Investment Bankers
  • Research Professionals
  • Emerging Companies
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FAQ’s

  • The Projected CAGR value is 5.4%.

  • Key players are ADM, Cargill Incorporated, Bunge Limited, Wilmar International, Tereos, Südzucker AG, Louis Dreyfus Company, Mitr Phol Group, Cosan and EID Parry Ltd.

  • Asia Pacific is the Largest Market Share in Cane Sugar Market.

  • The Cane Sugar Market size value was US$ 52.3 billion in 2022
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