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.
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.
Which are Some Prominent Drivers Spurring the Growth of Icing Sugar Market?
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.
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What are the Challenges Faced by the Icing Sugar Industry?
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.
Why is Demand for Icing Sugar Rising Across Europe?
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.
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How will Asia Pacific Contribute to the Growth of Icing Sugar Market?
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.
Market Competition
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.
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Scope of Report
Report Attribute
Details
Growth Rate
CAGR of 6.78% 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
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
U.S
Canada
Brazil
Argentina
Germany
U.K
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
Key Segments Profiled in the Icing sugar Industry Survey
By Type:
Coarse grained
Finely Ground
Ultra Refined
By Nature:
Organic
Conventional
By Starch Source:
Tapioca
Maize
Wheat
Potato
Others
By End Use:
HoReCa/Foodservice
Food Processing Industry
Bakery Products
Confectionery
Desserts
Household/Retail
By Packaging:
Retail
Canisters
Packets
Boxes
Bulk
By Distribution Channel:
Direct/B2B
Indirect/B2C
Hypermarkets/Supermarkets
Modern Grocery Stores
Specialty Stores
Online Retail
By Region:
North America
Latin America
Western Europe
Eastern Europe
APEJ
Japan
Middle East & Africa
Frequently Asked Questions
What is the projected size of the global icing sugar market by 2032?
FMI projects the global icing sugar market to grow at around 6.78% CAGR over the forecast period.
Which region dominates the global icing sugar market?
As per FMI, North America and Europe will continue to lead the global icing sugar market during the forecast period.
Which are some prominent icing sugar manufacturers?
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
