Global Cane Sugar Market Size, Share And Growth Analysis For 2024-2033
Cane Sugar Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033
LONDON, GREATER LONDON , UK, August 23, 2024 /EINPresswire.com/ -- The cane sugar market has demonstrated consistent growth, increasing from $178.14 billion in 2023 to $183.07 billion in 2024, with a compound annual growth rate (CAGR) of 2.8%. This historic growth is attributed to factors such as global population increase, cultural and culinary preferences, expansion of the food and beverage industry, industrial applications, and the use of cane sugar as a substitute for artificial sweeteners. Looking ahead, the market is expected to grow to $206.95 billion by 2028 at a CAGR of 3.1%, driven by increasing demand for natural ingredients, market expansion in developing regions, growing awareness of sustainable agriculture, and consumer preferences for traditional foods.
Navigating the Growth Surge in the Cane Sugar Industry Fueled by Escalating Demand for Sugar-Rich Confectionery Products and Soft Drinks
The rising demand for sugar-rich confectionery products and soft drinks is a significant driver of the cane sugar market. Confectionery products like sweets, chocolates, and chewing gum use cane sugar extensively, enhancing their flavor and texture. According to Farm Credit Canada, sales in the Canadian sugar and confectionery sector grew by 15.0% to $4.5 billion in 2021, largely due to volume growth and increased manufacturing prices. This trend underscores the growing demand for cane sugar in various confectionery applications.
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Cane Sugar Market Major Companies2 and Trends, Innovations in the Cane Sugar Market
Key players in the cane sugar market include Global Organics Limited, Louis Dreyfus Company, and Tate & Lyle PLC. These companies focus on product innovation to maintain their market position. For instance, in August 2022, Raízen partnered with ASR Group to introduce the world's first sustainable and fully traceable supply chain for non-GM raw cane sugar, showcasing advancements in sustainability and traceability in the industry.
Regional Insights: Asia-Pacific Leading the Cane Sugar Market
Asia-Pacific was the largest region in the cane sugar market in 2023 and is expected to be the fastest-growing region during the forecast period. The comprehensive report provides detailed insights into regional dynamics and growth opportunities.
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Cane Sugar Market Segmentation3
The cane sugar market is segmented as follows:
• By Form: Crystallized Sugar, Liquid Syrup
• By Category: Organic, Conventional
• By Distribution Channel: Offline Channels, Online Channels
• By Application: Bakery and Confectionery, Dairy, Food and Beverages, Other Applications
Cane sugar, derived from sugarcane, serves various functions including sweetening, preservation, and flavor enhancement. It is available in crystallized and liquid syrup forms and is used in diverse applications across different distribution channels.
Cane Sugar Global Market Report 2024 from The Business Research Company1 covers the following information:
•Market size data for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Cane Sugar Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on cane sugar market size, cane sugar market drivers and trends, cane sugar market major players, cane sugar competitors' revenues, cane sugar market positioning, and cane sugar market growth across geographies. The cane sugar market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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