Cane Sugar Market is Estimated to Reach USD 86,011 Million by 2034 Amid Growing Usage in Bakery and Confectionery Sectors | Future Market Insights, Inc.
The growing demand for both alcoholic and non-alcoholic beverages has significantly boosted the cane sugar market. This market is anticipated to grow further in the coming years, driven by the increasing popularity of baked goods, sweet confectioneries, and dairy products such as milk-based drinks, yogurt, and ice creams.
NEWARK, Del, July 03, 2024 (GLOBE NEWSWIRE) — The cane sugar market value is estimated to total USD 61,318 million in 2024. By the time 2034 rolls along, the value of the industry is expected to reach USD 86,011 million. This means the market is forecast to progress at a CAGR of 3.4% over the next decade.
Cane sugar remains a kitchen staple across households worldwide, catering to a diverse consumer base that ranges from raw sugar enthusiasts to avid bakers. As culinary trends emphasize home cooking, the demand for cane sugar is experiencing a notable surge.
Bakeries and confectionery sectors, in particular, are witnessing robust growth as consumers indulge their sweet tooth cravings with a variety of desserts and treats. This is expected to uplift demand for cane sugar as it is widely used in these sectors.
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In the realm of desserts, from traditional favorites to global delicacies, cane sugar plays a pivotal role in creating delightful culinary experiences. The versatility of cane sugar, from granulated to brown varieties, continues to captivate consumers and drive revenue growth.
Brown cane sugar, in particular, has seen a notable uptick in sales, driven by its rich flavor profile favored by dessert-makers and connoisseurs alike. The expansion of online platforms has further diversified consumer choices, making specialty sugars more accessible than ever before.
While e-commerce is reshaping consumer habits across industries, local markets remain a cornerstone for sugar sales. However, the digital shift has broadened access to niche products like organic cane sugar, aligning with the global trend towards natural and unprocessed foods.”
The organic movement has significantly influenced the cane sugar industry, reflecting consumer preferences for healthier alternatives. This shift is not limited to consumer markets. Governments in developing countries are actively supporting sugar production as a crucial economic driver, encouraging investment and export opportunities.
Key Takeaways from the Cane Sugar Market
- The global cane sugar market value is set to total USD 61,318 million in 2024.
- Granular textured sugar segment to hold 62.5% of the market share in 2024.
- Confectionery segment to account for 38.6% of the market share in 2024.
- Italy is set to record a CAGR of 4% over the next ten years.
- Demand in Spain is forecast to surge at a CAGR of 3.9% over the forecast period.
- The United States is set to advance at a CAGR of 3.3% through 2034.
- Organic Cane Sugar Market set to hit worth USD 13,753 million at CAGR 4.6% during forecast period 2024 to 2034.
“From local kitchens to international markets, cane sugar continues to be a vital ingredient. As consumer tastes evolve and culinary landscapes expand, the future looks sweet for the cane sugar industry, promising growth and innovation across global markets.” – Nandini Roy Choudhury, Client Partner at Future Market Insights
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Country-wise Insights
The Sales of Cane Sugar in the US
Increased demand for cane sugar from the food and beverage sector is one of the primary causes estimated to propel the global cane sugar market in the region forward in the forecasted period, therefore the U.S. market sales of cane sugar are expected to rise.
Furthermore, rising consumer demand for low-calorie sugar in the United States, as well as effective delivery ways, is likely to fuel up demand for liquid sugar. The capacity to extend the shelf life of baked goods, as well as excellent consistency and homogeneity, are also predicted to propel the cane sugar market forward.
Consumption of Cane Sugar in Europe
The European Union is the leading importer of Native Organic cane sugar. Consumers in Europe are becoming increasingly concerned about the environmental impact of agricultural activities and are looking for products that have a lower environmental impact. This trend has benefitted the market for organically certified products. Over the forecast period, the worldwide native organic cane sugar market has had a positive outlook.
For a majority of enterprises in this region, closing the global gap between supply and demand would necessitate more resources—technical, human, and financial. The companies in the European cane sugar market are pivoting the market trends towards a more investment integrated approach.
Rising Demand for Cane Sugar in India
East Asia and South Asia are projected to lead the cane sugar market due to massive demand in nations such as India and China. Furthermore, the quick growth of food industries in Asia-rising Pacific countries, as well as improved economic conditions and continuous government efforts through favorable policies and regulatory frameworks, all contribute to the cane sugar market’s growth. India also earns a lot of money since it is the world’s second-largest sugarcane producer, which helps the country’s cane sugar industry grow.
There are certain penetrating obstacles that need to be overcome for a more holistic cane sugar market growth to follow. The first step starts with mental receptivity – to ensure that consumers in new markets are aware of the rising global brands. There is need for best-in-class advertising backed up by significant media investment: television, radio, and so on. This opens the path for the second consideration that is physical accessibility.
To reach the millions of customers in emerging economies via the convenience-store channels, other brick-and-mortar retailers, and now the internet world, there is a need for proper pricing, packaging, and display, all rooted in the right route to market? Changing strategies in sync with the changing environment would help the cane sugar companies to overcome these obstacles and continue with a consistent market growth.
Who is Winning?
The cane sugar market is supremely competitive in nature. The market is wide open for new entrants. Some of the prominent companies in the market include Cosan SA, E.I.D.-Parry (India) Limited, American Crystal Sugar Company, and Raizen S.A.
Leading players are constantly increasing their production capacities to meet consumer demand and boost sales. Similarly, companies are implementing strategies like mergers, acquisitions, and partnerships to stay ahead.
Recent Developments:
- In January 2023, Regenerated Organic Certified Cane Sugar was launched by Whole Earth Brands, Inc.’s Wholesome Brand.
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Get More Insights
Future Market Insights (FMI), in its new offering, provides a thorough, detailed, and unbiased analysis of the global cane sugar market, presenting historical demand data for the years 2019 to 2023 and forecast statistics for the years 2024 to 2034.
The study provides compelling industry insights based on product type (liquid sugar, powdered sugar, granulated textured sugar, granulated flavored sugar, granulated colored sugar, pulp, and others), application (dairy, bakery, confectionery, beverage, canned and frozen foods, pharmaceuticals, and other food items), and nature (organic and conventional) across several regions.
Authored by:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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