The global cane sugar market size is estimated to reach USD 61,318 million in 2024. Global sales of cane sugar will likely rise at a CAGR of 3.4% through 2034, totaling USD 86,011 million.
Sugar is a staple of households and thus the consumer base of the product is wide. Some consumers even imbibe raw sugar, though the predominant use of the product in households is in cooking. With household cooking trends on the rise, consumer demand for cane sugar is shooting up.
The bakery and confectionery sector is seeing demand develop at a stellar rate. As long as consumers possess a sweet tooth, bakeries and eateries serving desserts are in a prime position to thrive.
Global Cane Sugar Industry Assessment
| Attributes | Description |
|---|---|
| Historical Size, 2023 | USD 55,744 million |
| Estimated Size, 2024 | USD 61,318 million |
| Projected Size, 2034 | USD 86,011 million |
| Value-based CAGR (2024 to 2034) | 3.4% |
Bakeries and dessert-makers make prominent use of sugar to make their offerings delightful for consumers. The expansion of palettes is also seeing consumers more willing to try sweet delicacies from around the world. Thus, the scope of sales of cane sugar and revenue growth is being widened.
The incredible variety of desserts as well as old favorite sweetmeats keep consumers enticed about sweet products. This, in turn, is benefitting the demand for the product.
Rising brown sugar sales are helping demand grow for brown cane sugar. Here again, the bakery and confectionery sector plays a prominent role. A growing number of dessert-makers are making use of brown sugar for the making of sweets.
E-commerce has not been as major of a game-changer in the sugar sector as in other food products, but the role of digitalization in the cane sugar industry is still significant. Most consumers still prefer going to local groceries or retail stores for their supply of sugar. However, the e-commerce boom has opened up consumers to varieties in the choice of sugar. Online sales have also made varieties such as brown sugar more available to consumers.
As with other sections of the food and beverage sector, the organic trend has also impacted the cane sugar industry. The growing aversion towards heavy processing and preservatives has increased market demand for organic cane sugar.
Several developing countries see the product as an essential part of their food and beverage arsenal. Sugar factories and sugarcane farming are seen as essential areas of concern by the governments of developing countries. Thus, there is increased government support for increasing the sales of sugar as well as making the overall sector welcoming to investors.
Sugar is also a prominent food product in export for many developing countries. Thus, there are a myriad of market opportunities for cane sugar in developing countries.
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The below table presents the expected CAGR for the global cane sugar market over several semi-annual periods spanning from 2024 to 2034. For the first half (H1) from 2023 to 2033, the sector is expected to grow at a CAGR of 3.5%. For the second half (H2), growth is predicted at a CAGR of 3.6%.
| Particular | Value CAGR |
|---|---|
| H1 | 3.5% (2023 to 2033) |
| H2 | 3.6% (2023 to 2033) |
| H1 | 3.5% (2024 to 2034) |
| H2 | 3.5% (2024 to 2034) |
Moving forward to the subsequent period, from H1 2024 to H2 2034, the CAGR is foreseen to be 3.5% in the first half and the same in the second half. Thus, there is not predicted to be much difference in growth dynamics in the two semi-annual periods.
Manufacturers in Cane Sugar Market Taking Concentrated Efforts to Streamline Production Process
To cut down on production costs, manufacturers are focusing their energy on refining production processes. One way through which producers are obtaining streamlining in production is through the introduction of advanced technology into production.
One of the prominent trends in industries is the automation of tasks. By automating tasks, producers reduce human error, ensure greater quality, and cut the cost of labor. Savings are also made on time. As a result, a considerable number of factories are opting for full automation. Sugar factories are also becoming automated at a rapid pace.
High-tech solutions in sugar production are also helping factories to become more environmentally conscious. There is a greater urgency for manufacturers to adhere to environmental guidelines and thus technology is being adopted rapidly.
Collaboration Between Academic Institutions and Cane Sugar Companies
Manufacturers are teaming up with academic institutions as part of their attempts to be more transparent. By virtue of the collaboration, producers are offering tours as well as greater insights into the manufacturing process. Through this measure, manufacturers are pushing back on some of the misconceptions and claims about the sugar manufacturing process, helping the cane sugar market to thrive.
Rising Health Trends and Volatility of Raw Material Prices Serve to Influence Demand Negatively
Sugar’s effect on fitness and fat in the human body is well documented. The significant calorie content of sugar sees large swathes of people look at the product with disdain. As health trends emerge, there is a greater focus on lessening the amount of calories and fat in diets.
Vegan consumers are also shunning sugar because of the manufacturing process. The charcoal used to filter cane sugar is made from animal bones in several manufacturing processes, which is seeing vegan consumers turn away from cane sugar.
Fitness enthusiasts and health-conscious consumers instead prefer healthier sweeteners. Popular alternatives to sugar include honey and jaggery. These ingredients are reputed to be healthier and have provided competition to sugar for a long period of time.
Other emerging alternatives eat into the demand for the product as well. Maple syrup and agave syrup are two examples of such emerging and trending alternatives. In addition to not containing even close to the calorie amount of sugar, they also provide additional health benefits.
The product also faces competition from beet sugar, which is preferred by vegans. Raw material volatility is faced as sugarcane rates have become a contentious issue in countries like India. Thus, manufacturers in the cane sugar market face uncertainty in production.
Principal Consultant
The cane sugar industry size was tipped to be USD 45,377 million in 2019. Throughout the historical period, the industry grew at a CAGR of 3.5%, reaching a size of USD 55,744 million in 2023.
The pandemic forced the closure of sugar factories all over. As a result, the business of producers was negatively affected. On the flipside, home cooking and online deliveries became much more common in the period, as outside eating became infeasible. With the lifting of restrictions, the progress of the industry was back on track.
The sector’s progress in the forecast period is expected to be slightly lower than the historical period. Several factors play a role in cutting off the growth opportunities of the sector. Growing health trends see sugar being targeted as a reason for growing health and obesity problems in the population.
Social media is also seeing several influencers advocating for minimizing or entirely foregoing sugar in diets. As a result, a considerable number of consumers are going sugarless.
There are still significant opportunities for investors, however. The speeding up of processes due to technology is seeing the capabilities of manufacturers increase manifold. Emphasis being put on sugar production in developing countries is also set to help industry players.
Tier 1 companies that have a notable presence in the landscape include Cargill Inc., Tereos, Südzucker AG, and Associated British Foods plc. Tier 1 companies are in line to account for only 10% of the revenue generated in the industry, much less than some other products in the food sector.
Cargill Inc. is renowned for its all-around capabilities in the agriculture and agricultural product trading sections. Sugar production and trading are just one side of their extensive agricultural capabilities. Tereos is renowned for its sugar and products made from sugar, especially alcohol.
Südzucker AG prides itself on being one of the biggest players in Europe. Associated British Foods plc conducts its business in the sector through its AB Sugar arm.
Tier 2 companies include Nordzucker AG, Thai Roong Ruang Group, and Dangote Sugar Refinery Plc. While these tier 2 companies struggle to compete with the financial capabilities of tier 1 companies, they still control a significant portion of the revenue. Their revenue share is estimated to be 20%, higher than tier 1 companies.
Nordzucker AG puts emphasis on sustainability in production, combined with an eye on innovation. Thai Roong Ruang Group and Dangote Sugar Refinery Plc are some of the most significant players in the Asian and African sectors respectively.
Prominent Tier 3 companies in the sector include Ilovo Sugar Africa, Balrampur Chini Mills Limited, and Dalmia Bharat Sugar and Industries Limited. These tier 3 companies dominate the sector. Their revenue generation capabilities are put forth to be 70% of the total industry share.
A common trope among these tier 3 companies is their emphasis on ethanol production along with sugar. These companies especially hold sway in traditional sugar-producing regions. For example, Ilovo Sugar Africa exerts considerable influence in Africa, while Balrampur Chini Mills Limited, and Dalmia Bharat Sugar and Industries Limited do the same in India.
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Africa and Asia are the traditional growing regions for sugar derived from sugarcane. Thus, the sector has an established base in these regions with further opportunities in the form of foreign investment.
Asian countries like South Korea and Japan as well as African ones like Nigeria and Benin are especially known for their sweet tooth. In North America and Europe, the bakery and confectionery sectors are prominent and the clamor for desserts is humongous.
| Countries | CAGR (2024 to 2034) |
|---|---|
| China | 3.4% |
| United States | 3.3% |
| United Kingdom | 3.5% |
| Japan | 3.6% |
| India | 3.6% |
| Canada | 3.5% |
| Germany | 3.5% |
| France | 3.8% |
| Spain | 3.9% |
| Italy | 4% |
| Indonesia | 3.7% |
| Australia | 3.6% |
The United States industry is forecast to progress at a CAGR of 3.3% over the next ten years. Consumers in the United States are enamored of sweet treats to a considerable degree. Accordingly, the nation is the foremost consumer of sugar, with the average American claiming to imbibe more than 125 grams per day. However, there has also been a pushback against the significant sugar consumption.
Both the obesity problem and health trends have seen a considerable number of consumers turn away from sugar. There has also been an aversion to genetically modified food and the use of artificial sweeteners in desserts.
Manufacturers are aware of the trends among the young population of the United States. Thus, producers are engaging in the distribution of organic versions of the product. Suppliers in the nation also rely heavily on imports to sustain the substantial demand for the product. In conclusion, while the sector faces several hurdles, there are also plenty of opportunities for investors.
Italy is set to register a CAGR of 4% over the forecast period, making it a highly lucrative country for players. Italian consumers are enamored of pastry to a high degree. Sugar derived from sugarcane is used heavily in the making of pastries and this use is set to continue over the forecast period at a satisfactory rate.
In addition to pastries, various treats from Italy are renowned worldwide. Thus, tourists flock to Italian shores to sample the world-famous desserts from Italy. The presence of sweet-loving countries like Greece and Turkey is also beneficial to the sector’s clause in the country.
The industry’s progress in the United Kingdom is put forth to happen at a CAGR of 3.5% over the forecast period. Sustainable farming has received pronounced importance in the United Kingdom as the population becomes more eco-friendly.
The government in the nation is adding to this cause by supporting the sustainability drive of the population. Thereby, the ingredients for the making of the product are emphasized to be grown sustainably in the United Kingdom. Cooking shows have a hold of the population in the United Kingdom. Along with social media, cooking shows encourage more home cooking and baking in the nation. Thus, household use of the product is growing in the United Kingdom.
The below section offers insights into leading segments. Granular textured sugar is the top product type. Confectionery is where the product‘s use is increasing at a rapid rate.
| Segment | Granular Textured Sugar (Product Type) |
|---|---|
| Value Share (2024) | 62.5% |
Granular textured sugar is expected to take up 62.5% of the industry share in 2024. Granular textured sugar is becoming more common as its application in both residential and commercial segments expands.
Granular textured sugar has already won over a substantial amount of residential cooks and it is projected to continue doing so over the forecast period. Granular textured sugar’s ability to dissolve easily in a number of foods has seen it earn a considerable amount of admirers. The dissolving quality of the sugar also helps food preparation times to be shortened, another feather in the sugar’s bow.
Granular textured sugar is easy to handle, ensuring it is used in substantial quantities in eateries. Measurement is also simplified with granular textured sugar. Thus, bakeries and confectioneries are using cane sugar in more quantity.
| Segment | Confectionery (Application) |
|---|---|
| Value Share (2024) | 43.5% |
The confectionery sector is anticipated to account for 38.6% of the industry share in 2024. Demand for sugar is high in the confectionery sector as it is the primary ingredient with which confectioners establish the sweetness of their desserts.
The confectionery sector is booming as a result of the increased Westernization of developing countries, especially in Asia. More people in these countries are attracted by Western snacks and desserts. In parallel, in Western countries, the attraction is to try different cuisines. This tendency of consumers is extending to desserts and thus confectioners are busier than ever, with the sugar sector benefitting.
The competitive landscape of the product is highly fragmented in nature, with no single company or set of companies being dominant in the industry. Thus, the barriers to entry are low, and small-scale enterprises are thriving.
Key players are primarily focusing on increasing their production capacities to meet growing end user demand. Similarly, strategies like mergers, facility expansions, partnerships, and acquisitions are becoming prevalent in the sector.
Industry Updates
Based on the product type, the cane sugar market is divided into liquid sugar, powdered sugar, granulated textured sugar, granulated flavored sugar, granulated colored sugar, pulp, and others.
Based on nature, the industry is bifurcated into organic and conventional.
Cane sugar is mostly used for applications like dairy, bakery, confectionery, beverage, canned and frozen foods, pharmaceuticals, and other food items.
The sector has been analyzed with the following regions covered: North America, Latin America, Europe, South Asia, East Asia, Oceania, and the Middle East and Africa.
The size of the cane sugar market is estimated to be USD 61,318 million in 2024.
The cane sugar market is set to expand at a CAGR of 3.4% over the forecast period.
The cane sugar market value is forecast to reach USD 86,011 million by 2034.
Cosan SA and E.I.D.-Parry (India) Limited are few of the prominent companies.
The United States is set to record a CAGR of 3.3% through 2034.
1. Executive Summary
2. Industry Introduction, including Taxonomy and Market Definition
3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments
4. Global Market Demand Analysis 2019 to 2023 and Forecast 2024 to 2034, including Historical Analysis and Future Projections
5. Pricing Analysis
6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034
6.1. Nature
6.2. Form
6.3. Application
7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Nature
7.1. Organic
7.2. Conventional
8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Form
8.1. Crystallized Sugar
8.2. Liquid Syrup
9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Application
9.1. Bakery & Confectionery
9.2. Dairy
9.3. Beverages
9.4. Other Applications
10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
10.1. North America
10.2. Latin America
10.3. Western Europe
10.4. South Asia
10.5. East Asia
10.6. Eastern Europe
10.7. Middle East & Africa
11. North America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
12. Latin America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
13. Western Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
14. South Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
15. East Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
16. Eastern Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
17. Middle East & Africa Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
18. Sales Forecast 2024 to 2034 by Nature, Form, and Application for 30 Countries
19. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard
20. Company Profile
20.1. Global Organics, Ltd.
20.2. DO-IT Food Ingredients BV
20.3. Louis Dreyfus Company B.V.
20.4. Wilmar Sugar Australia Limited
20.5. ASR Group International, Inc.
20.6. Tate & Lyle plc
20.7. Biosev S.A.
20.8. Nanning Sugar Industry
20.9. Bunge Limited
20.10. Raizen
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Cane Sugar Market
