The global sales of icing sugar are projected to rise at a robust CAGR of around 6.78% between 2022 and 2032, generating significant revenues by the end of the forecast period. Growth is attributed to increased demand for icing sugar from various end use verticals such as bakery products and confectionery.
| Report Attribute | Details |
|---|---|
| Icing Sugar Market Projected Growth Rate (2022 to 2032) | 6.78% CAGR |
Icing sugar, also called powdered sugar or confectioners' sugar is a finely powered form of sugar added with anticaking agent like corn starch or potato starch. It is usually produced by milling granulated sugar across large manufacturing industries. The addition of starch helps to absorb moisture, prevents clumping and improves flow.
Over the last few years, icing sugar has gained immense traction across food production industries where quick dissolving sugar is required. It is being increasingly used in baking and confectionery applications, dessert making and quick preparation of juices, milkshakes and other beverages on account of its ability to easily dissolve in liquids.
The fine texture of icing sugar makes it suitable for dusting over cakes, pastries, and pies to sweeten them as well as to add an attractive decorative touch. It can also be used to make icing and fondants for sweets and cakes. The icing sugar, however, has to be used within a short period of time to minimize the risk of caking.
Rising consumption of bakery and confectionery products across the globe due to changing eating habits, rapidly growing population and increasing spending by people will continue to provide a strong thrust to the growth of icing sugar market during the forecast period.
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Rapid growth of bakery and confectionery industries, changing consumer preferences and eating habits, and growing popularity of icing sugar across diverse industries due to its quick dissolving ability and anticaking properties are some of the major factors driving the global icing sugar market.
Icing sugar has become a more commonly used form of sugar adopted across bakery and confectionery sectors due to its fine nature. It is being increasingly used for preparing icing and frosting for baked items, desserts and sweets. Adoption of this sugar has significantly improved the quality of food products. Rising need for maintaining a fine structure and texture in food products will continue to generate sales prospects within the global icing sugar market.
The hectic lifestyle and changing food habits have resulted in the rapid expansion of bakery industry across developing regions like APAC and MEA. This in turn is generating sales prospects for icing sugar.
Majority of the icing sugar sales remain concentrated in foodservice and food processing industries. This can be attributed to the increase in the number of cafes, hotels and restaurants along with the growing preference of food manufacturers towards using icing sugar over granulated form.
Similarly, innovations in the packaging form coupled with increasing penetration of online shopping platforms will further boost the sales of icing sugar in the future.
Despite growing popularity of icing sugar, there are various factors that are challenging market growth. Some of these factors are the rising health concerns (like diabetes) due to high calorie intake and poor penetration of icing sugar across various regions.
It has been observed that majority of people living in developing and underdeveloped regions still prefer to use granulated sugar. This is emerging as a major restraining factor for icing sugar market.
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Spurred by rapid expansion of HoReCa sector, increasing spending on bakery and confectionery products and easy availability of icing sugar, Europe will continue to lead the global icing sugar market during the forecast period.
Countries like the United Kingdom and Germany have well established bakery and confectionery industries. People spend large amounts on purchasing these products on a daily basis. This is acting as a major factor in triggering the sales of icing sugar across the region.
Similarly, growing usage of icing sugar across foodservice and food processing sectors will further generate growth prospects within the icing sugar market in the future.
According to Future Market Insights, Asia pacific is slated to grow at a significant pace over the forecast period, owing to the rising consumption of bakery products, chancing lifestyle, and growing popularity of icing sugar due to its quick dissolving nature across countries like China and India.
Moreover, presence of a small number of market players is making Asia Pacific a conducive market for the manufacturers of other regions. This will further expand the icing sugar market in the region during the forecast period.
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Some of the key participants present in the global icing sugar market include Tate & Lyle PLC, AB Sugar Company, Simbhaoli Sugars Ltd., Crusty International, Couplet Sugars, Dhampure Speciality Sugar Ltd., Blue Bird Foods India Pvt., SBEC Sugar Ltd., MSM Prai Berhad, Patco Industries Limited, Thai Flour Co. Ltd., United Sugar Company, NZ Sugar Company Ltd., USHA International Limited (Mawana), American Crystal Sugar Company, Starafrica Corp., Sugar Australia Company Ltd., Nordic Sugar A/S, Redox Pty. Ltd., Weikfield Products Co. (I) Pvt. Ltd., and Amrut International
The global icing sugar market is highly competitive in nature with leading market players constantly upgrading their product portfolios. They are using various growth tactics such as innovative packaging, price reduction, product advertisement etc. to increase customer base as well as to expand their global presence.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 6.78% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Billion, Volume in Kilotons and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Type, Nature, Starch Source, End Use, Packaging, Distribution Channel, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; APEJ; Japan; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Argentina, Germany, UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC, South Africa |
| Key Companies Profiled | Tate & Lyle PLC; Couplet Sugars; Simbhaoli Sugars Ltd.; Crusty International; AB Sugar Company; Thai Flour Co. Ltd.; Dhampure Speciality Sugar Ltd.; MSM Prai Berhad; Blue Bird Foods India Pvt.; SBEC Sugar Ltd.; Starafrica Corp.; Patco Industries Limited; American Crystal Sugar Company; United Sugar Company; NZ Sugar Company Ltd.; USHA International Limited (Mawana); Sugar Australia Company Ltd.; Nordic Sugar A/S; Mitr Phol Group; Redox Pty. Ltd.; Lantic Inc.; Weikfield Products Co. (I) Pvt. Ltd.; Amrut International |
| Customization | Available Upon Request |
FMI projects the global icing sugar market to grow at around 6.78% CAGR over the forecast period.
As per FMI, North America and Europe will continue to lead the global icing sugar market during the forecast period.
Tate & Lyle PLC, AB Sugar Company, Simbhaoli Sugars Ltd., Crusty International, Couplet Sugars, Dhampure Speciality Sugar Ltd., Blue Bird Foods India Pvt. are some prominent icing sugar manufacturers
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