The global granulated sugar market demand was valued at US$ 37.08 Billion in 2021, and is projected to reach US$ 39.68 Billion by the end of 2022. From 2022 to 2032, the market is expected to expand at a 7% CAGR, poised to be valued at US$ 83.51 Billion.
| Report Attribute | Details |
| Estimated Base Year Value (2021) | US$ 37.08 Billion |
| Anticipated Market Value (2022) | US$ 39.68 Billion |
| Projected Forecast Value (2032) | US$ 83.51 Billion |
| Growth Rate (2022-2032) | 7% CAGR |
In the projected period of 2022-2032, the rising demand for granulated sugar amongst various applications and rising development of sugar industries is likely to continue to generate new opportunities for the granulated sugar market.
The growing demand for granulated sugar in food applications all over the world is propelling the sales of granulated sugar during the forecast period (2022-2032). Furthermore, the increasing production of sugar crops around the world is promoting granulated sugar market growth.
Consumption of sugared foods is also expected to rise, boosting the granulated sugar market share. The expanding need for confectionery and bakery items, as well as the growing demand for sweets, will propel the granulated sugar market forward.
Key trends in granulated sugar market include people adopting a rigorous diet to lose weight and avoid sugar, which causes anaemia, vitamin and mineral deficiencies, as sugar is a rich source of energy and carbs. In tablets and syrups, granulated sugar is employed as a sweetener. As the need for tablets and syrups is continuously expanding, the demand for granulated sugar in the pharmaceuticals industry is rising, which is encouraging the expansion of the granulated sugar market.
The market for granulated sugar may be affected by rising awareness of a healthy lifestyle and nutritional eating habits. Sugar contains a large number of fats and calories, which may decrease the sales of granulated sugar.
Baked goods such as cookies, biscuits, cakes, pastries, muffins, jams, and marmalades require granulated sugar as a key ingredient; they cannot be produced without it. This rising demand for granulated sugar leads to the rising sales of granulated sugar which propels granulated sugar market growth.
Furthermore, the demand for bakery goods, chocolates, and ice creams is expanding fast, and the production of these foods is expected to rise in the future. This aids in the growth of the granulated sugar market share.
Alcoholic and non-alcoholic beverages both use granulated sugar. As a result, the demand for granulated sugar is increasing as the consumption of beverages rises. As granulated sugar is one of the most commonly used components in the food and beverage sector, demand for the sources from granulated sugar is made is also rising. Sugarcane crop demand is increasing; thus, farmers are earning a favorable market price for their crop, which is helping to raise per capita income.
Factors restraining the granulated sugar market growth include the presence of processed sugar in the market which can be replaced with a variety of alternatives. Another factor hampering the sales of granulated sugar is the growing consumer awareness, and health consciousness related to consumption of sugar.
Furthermore, not only the sales but the demand for granulated sugar is also projected to get hampered due to this reason. The availability, as well as the quality of raw materials vary as a result of the broad variation in climatic circumstances. This might cause pricing and supply disruptions in raw materials like sugarcane and sugar beet. Thus, affecting the global granulated sugar market share.
Due to the rising consumption of processed foods and demand for granulated sugar in this area, the global granulated sugar market is expected to rise steadily in North America.
Granulated sugar is a common component in many of North America's favourite beverages and dishes. Furthermore, because Brazil is a key producer and exporter of sugar, it is expected to have a considerable proportion of the global granulated sugar market in South America.
Due to the high cultivation of raw goods such as sugarcane and sugar beet, as well as growing end-user demand, Asia Pacific is likely to see significant expansion in the global granulated sugar market.
Sugarcane is the primary crop used to make sugar, and it is mostly grown in tropical and subtropical Asia Pacific nations such as India, China, and others. Furthermore, the growth of granulated sugar market is rising due to increased consumption of sweetened drinks and prepared food items in the Middle East and Africa is predicted to continue to rise in sugar consumption, owing to the region's increased demand for granulated sugar.
Key players in the global granulated sugar market include Südzucker AG, British Sugar PLC, Tereos, Cargill Incorporated, Lantic Inc, Michigan Sugar Company, Imperial Sugar, Guangxi Guitang Group Co., Ltd, Lingyunhai Sugar Group, COFCO, Guangxi Ningming East Asia, Sugar Industry Limited Company, Bannari Amman Group, Rajshree Sugars & Chemicals Limited, RANA GROUP, Shree Renuka Sugars, and Bajaj.
| Report Attribute | Details |
| Growth Rate | CAGR of 7% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015-2020 |
| Forecast Period | 2022-2032 |
| Quantitative Units | Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered |
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| Regions Covered |
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| Key Countries Profiled |
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| Key Companies Profiled | |
| Customization | Available Upon Request |
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According to FMI, Granulated Sugar market is anticipated to grow at a 7% CAGR until 2032.
FMI expects the North America Granulated Sugar market to make maximum gains.
Some key players in Granulated Sugar market include Südzucker AG, British Sugar PLC, Tereos, Cargill Incorporated, Lantic Inc, Michigan Sugar Company, Imperial Sugar, Guangxi Guitang Group Co.
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