The refined cane sugar market size is estimated to be worth USD 62.24 billion in 2023 and is projected to surpass USD 108.34 billion by 2033. The demand for refined cane sugar is likely to grow at a CAGR of 5.7 % during the forecast period.
Some of the major growth factors in the market for refined cane sugar are:
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
The tendency of consumers to choose healthier food options has increased over the last few years. Both during and after the pandemic, purchasing habits have changed dramatically. The global refined cane sugar sector has also been impacted by this trend. To lessen the harmful effects of sugar consumption on the body, individuals are now looking for healthier, less processed, and raw sugar variants like brown and organic.
Since customers believe organic refined cane sugar to be safer and healthier than ordinary sugar, it is growing in popularity. Major refined cane sugar manufacturers are concentrating on creating novel types to meet customer demand. The demand for healthier sugar variants is anticipated to increase as awareness of lifestyle-related health issues such as obesity, cardiovascular disease, and diabetes grows.
The importers of ethanol from sugarcane have exerted significant pressure on the refined cane sugar industry to switch to sustainable methods of production. This has drawn attention to sustainable production generally in the refined cane sugar sector. Some of the largest refined cane sugar manufacturers are taking use of the minimal carbon footprint of sugar and are aware of the advantages of sustainable manufacturing practices in the marketplace for brand improvement.
The opportunities for refined cane sugar to lessen the carbon footprint of their products and the consequences are discussed. There is a rising need for formal certifiable sustainability standards in the refined cane sugar sector as a result of efforts to certify production as sustainable.
| Report Attribute | Details |
|---|---|
| Refined Cane Sugar Market Value (2023) | USD 62.24 billion |
| Refined Cane Sugar Market Anticipated Value (2033) | USD 108.34 billion |
| Refined Cane Sugar Market CAGR (2023 to 2033) | 5.7% |
Principal Consultant
According to Future Market Insights, the market for refined cane sugar rose at a CAGR of 4.9% from USD 47 billion in 2017 to USD 59.7 billion in 2022. Furthermore, the market is anticipated to grow at a CAGR of 5.7% during 2023 to 2033, surpassing USD USD 108.34 billion by 2033.
The liquid refined cane sugar is anticipated to expand at a CAGR of 4.8% over the forecast period. For the production of confectionery goods like candy, it is common practice to dissolve a large amount of sugar in hot water, but once the solution cools, the solubility returns to its original value.
Since refined cane sugar has no such problems, manufacturers are switching to it, which is greatly boosting the market. The market for refined cane sugar is expanding due to the rising demand for confectionery, especially in developing nations.
Since manufacturers of refined cane sugar are putting more emphasis on innovation, introducing new products, and changing consumer demand, the food and beverage business is thriving. Due to its wide range of uses, the production of refined cane sugar has consequently become a crucial component in the food processing industry.
The major factor fuelling the market's expansion is customers' rising demand for processed foods and drinks. Furthermore, every beverage, both alcoholic and non-alcoholic, uses a significant amount of refined cane sugar. The opportunities for revenue growth for producers of refined cane sugar have been greatly boosted by an emerging trend in the sector, such as consuming snacks with drinks.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
One of the main factors predicted to drive the USA refined cane sugar industry is an increase in demand for refined cane sugar from the food and beverage sector. As a result, refined cane sugar sales in the USA market are anticipated to grow at a CAGR of 8.4% during the projected period.
The demand for liquid sugar is also projected to increase due to increased consumer demand for low-calorie sugar in the United States and efficient delivery methods. Refined cane sugar is expected to grow in popularity due to its great consistency and homogeneity, ability to increase baked items' shelf life, and other factors.
Germany is anticipated to lead the European refined cane sugar industry with a CAGR of 3.6% during the forecast period. As native organic cane sugar is primarily imported from the European Union, the sales of refined cane sugar are projected to stay high in Germany. European consumers are more concerned about how agricultural practices affect the environment and are seeking items with a lesser environmental impact.
The market for refined cane sugar with an organic certification has benefited from this trend. The global market for native organic refined cane sugar has seen growth throughout the anticipated period. The majority of businesses in this region would need greater technological, human, and financial resources to close the supply-demand gap globally. Companies operating in the European refined cane sugar industry are shifting market trends in favor of a more integrated strategy for investing.
Japan is one of the markets for refined cane sugar that is expanding at a noteworthy CAGR of 2.8% during the forecast period. The key driver of market expansion in this region is the constantly changing food processing industry. Drinks, dairy products, bakery goods, and desserts are all growing in popularity in the area.
In the last few years, the demand for refined cane sugar has expanded dramatically due to the region's rapidly expanding dairy industry. The market is expected to be driven by the growing demand for ready-to-eat and ready-to-cook products throughout the predicted time frame.
Despite having substantially lower per capita consumption than other regions, such as Asia Pacific, the demand for refined cane sugar is gradually increasing in South Korea. Consumer demand for sweets and beverages is constantly rising, which is fuelling industry expansion in the region. In addition, Korea is experiencing high sugar demand as a result of the increased demand for processed food items.
With the presence of regional and domestic companies in several nations, the global market for refined cane sugar is fragmented. The demand for refined cane sugar has greatly grown in recent years due to the growing customer preference for organic foods. To meet the rising demand, big corporations are adding organic refined sugar variations to their current offering.
For example, the renowned French sugar company Tereos S.A. debuted a brand-new organic beet sugar from its Attin facility in December 2019. The industrial sugar sector is highly fragmented, and only a handful of global companies control major portions of it.
However, it is anticipated that the small competitors with an innovative product line are likely to stimulate healthy market competition. Another example is Durrah obtained fuel allocation from the Ministry of Petroleum in 2020 to begin work on its Jizan refinery. Aside from expansion, companies are also investing in the branding of sugar goods.
Major Players in the Refined Cane Sugar Industry are:
Recent Developments in the Refined Cane Sugar Industry
| Attribute | Details |
|---|---|
| Forecast period | 2023 to 2033 |
| Market analysis | USD billion in value |
| Key regions covered | North America; Europe; Asian Pacific |
| Key segments covered | By Product Type, By End Use, By Region |
| Key companies profiled | Achema; Agrigro Inc.; AZOMITE Mineral Products, Inc.; CF Industries Holdings, Inc.; Clariant International Ltd.; Coromandel International Ltd.; Dayal Group; Forbon Technology; Frit Industries Inc.; Hydro Fert s.r.l.; ICL Fertilizers; Liven Agrichem Pvt Ltd; Novochem Group; OCP SA; Sinofert Holdings Limited; Tata Chemicals Limited; The DuPont Company; The Mosaic Company; Yara International ASA |
The refined cane sugar market is estimated to be valued at USD 62.24 billion in 2023.
The refined cane sugar market size is anticipated to surpass USD 108.34 billion by 2033.
The refined cane sugar market is expected to rise at a CAGR of 5.7% during the forecast period.
The USA is anticipated to lead the refined cane sugar market over the forecast period.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Liquid Sugar 5.2. Powdered Sugar 5.3. Granulated Textured Sugar 5.4. Granulated Flavored Sugar 5.5. Granulated Colored Sugar 5.6. Pulp 5.7. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User 6.1. Food Processors 6.2. Livestock Feed 6.3. Retailers 6.4. Industrial Uses 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Europe 7.4. Asia Pacific 7.5. Middle East and Africa (MEA) 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Key Countries Market Analysis 14. Market Structure Analysis 15. Competition Analysis 15.1. Cosan SA 15.2. E.I.D.-Parry (India) Limited 15.3. American Crystal Sugar Company 15.4. Raizen S.A. 15.5. Louis Dreyfus Company B.V. 15.6. Associated British Foods Plc. 15.7. Tereos International Limited 15.8. Tongaat Hulett Sugar South Africa Limited 15.9. Shree Renuka Sugars Limited 15.10. Imperial Sugar Company 16. Assumptions & Acronyms Used 17. Research Methodology
Explore Food and Beverage Insights
View Reports
Refined Cane Sugar Market
