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Sugar Market: Definition
Sugar is commonly used in a variety of drinks to give them a sweet flavor and improve their color. It also helps to provide thickness, balance acidity, and improve taste and shelf life in an array of drinks. The most recent procurement intelligence insights from ELINT Market Research state that the global sugar market recorded a notable supply of 285 MMT and a consumption of 246 MMT in 2022–2023. Additionally, the analysis stated that the market’s overall ending stocks were 39 MMT.
Sugar Market: Growth Driving Factors
Key drivers supporting the development of the sugar market include the expanding use of different processed food items, the rising medicine sector, and demand for sweets, bakery, and beverage products.
Sugar Market: Challenge
Important sugar market challenges are unpredictable prices, shifting climate conditions that damage sugarcane production, and heightened governmental concern about potential health effects.
Sugar Market: Opportunity
Developing innovations in the sugar sector are the production of value-added sugar items, adoption of sustainable agricultural methods, and reaching out to unexplored regions where sugar consumption is rising.
Sugar Market: Leading Regions
Asia-Pacific leads the global sugar procurement market because of the region’s high rate of usage of sugar. Further, due to technological developments, North America is also becoming a rapidly expanding market.
Sugar Market: Key Manufacturers
1. Suedzucker AG
Founded in 1926, Suedzucker AG is a German corporation that holds a significant position in the worldwide sugar industry. The company’s areas of expertise are bioethanol manufacturing, specialist products, and different kinds of sugar.
2. Cosan
Cosan is a significant player in the international sugar industry which mainly manufactures sugar and ethanol. It was established in Brazil in 1936 and now has operations in regions like Bolivia, Argentina, Uruguay, Paraguay, Brazil, etc.
3. Tereos
Tereos is a collaborative company that mainly operates in marketplaces for processed farming raw materials, specifically in sugar, alcoholic beverages, and starch. In France, it was formed in 1996 and operates 44 factories throughout nine nations.
4. Associated British Foods (ABF)
Associated British Foods (ABF) is a well-known multinational food manufacturing and distribution company that was founded in the United Kingdom in 1935. In addition to sugar, it produces lactose, proteins, emulsifiers, and baker’s yeast.
5. Mitr Phol Sugar Corporation
Mitr Phol Sugar Corporation Ltd., a premier sugar manufacturer and pioneer in the biodegradable sector, was founded in 1946 in Bangkok, Thailand. It is the largest provider of sugar and bioenergy in Asia and Thailand.
6. Biosev (Louis Dreyfus)
The Louis Dreyfus Company has owned Biosev makes ethanol and sugar for both domestic and foreign markets in addition to various byproducts like yeast, sugarcane powder, and livestock feed. The Louis Dreyfus Company, a prominent agricultural product dealer was established in 1851.
7. Nordzucker AG
Since 1997, Nordzucker AG evolved into a major player in the worldwide sugar market and has had its corporate office in Germany. With a huge selection of sugar products, it is the second-biggest sugar producer in Europe.
8. Thai Roong Ruang Group
The second-biggest sugar manufacturer in Asia and Thailand is the Thai Roong Ruang Group. The company was established in 1946 and proceeded to produce value-added products, including ethanol.
9. Wilmar International Limited
A significant participant in the worldwide sugar industry, Wilmar International Limited is engaged in several agricultural ventures, including the production of sugar, palm oil, and other goods. It was founded in 1991 and has operations in over 50 countries with its headquarters located in Singapore.
10. Rusagro
One of the biggest agricultural firms in Russia is Rusagro which is a significant manufacturer of sugar, fats, and pork. It was founded as a sugar company in 1995. It also leaves a footprint on the native pork, agricultural products, and oils and fats ecosystems.
Conclusion:
The inclusion of natural sugar types in the inventories of major global sugar procurement intelligence companies in the sector is driving up demand globally. The leading sugar manufacturers are included in this guide; please get in touch with us for additional details on market trends.